COMMERCIAL.

New Zealand Herald, Volume XXXIII, Issue 10018, 3 January 1896, Page 4

COMMERCIAL.

New Zealand Herald Office, Thursday evening. Althouch the holidays are now over, there has been no time for resumption of business until to morrow, and even then there is little possibility of spirited trade, but the heavy attack on consumptives lately ought to have considerable effect on distributive business next week.

Now that the Venezuela difficulty is practically ended by a "climb down," we are troubled with the financial position of the United States, which, in tho matter of gum and wool, is of importance to us. Recent telegrams show the States in a great stato of financial trouble. A recent American writer referring to tho financial position puts it as under :—" Foreign investors in our securities have for several months been returning them to us. Tho bad and dishonest management of some of our railways has been one cause of this movement, and another cause has been the seeming unwillingness of Congress to put our monetary system upon a safe and sure basis. Foreign investors have looked upon our enormous volume of currency, and having then looked upon our redemption fund, which we have to get into debt repeatedly to maintain, have come to the conclusion that there was too much risk in trusting us with their money. They have not been able to feel sure that if they invested in our securities, they would get their principal and interest in as good money us they lent us. A mere doubt of this kind is enough to prevent investment. The consequence was that so many of our securities came back to us that great quantities of gold were needed to pay the foreign sellers of them. The amount was so large as to make gold shipments of unusual size necessary. Down went the gold reserve and as it went down it caused uneasiness at home as well as abroad, People began to hear talk about a possible descent to the silver standard through failure of the Government to meet its obligations in gold, and then private citizens began to hoard gold, going to the treasury for it in exchange for legal tenders."

We observe that the tariff is undergoing revision, and wool and sugar is considered the likely sources of more revenue. Wo shall ask no commission for suggesting that with the last two years' experience, the difficulty could be easily bridged .over by, instead of taxing the food and clothing of 60,000,000 of people to pay tho result of years of monopoly, the Treasury put an export tax on heiresses. Pork and oil could stand this easily, while tho Cape might feel it in a leas demaud for diamonds.

Seriously, the Republio has gone down immeasurably in the estimation of all ooramon sense men, but the lesson is valuable, and we think will do much good to the colonies, as, after this Venezuela incident, British investors will not bo so likely to place reliance on any foreign flag, and will find openings for capital in the colonies that fly the Union Local business is little more than nil. The holiday spirit is fairly on. and the keenest enquirers for orders find themselves mot by i a placid disreft&rd °* olfetß ttntil the new year business really op'JUs nut. . Maize is quotable at 3s off wharf, but there is little doing, The Sydney market is closely watched, as to the effect oi the taVvng oft the duty on both oats and maize, on market i prices, and In the meantime there to rather a dull feeling, notwithstanding a scarcity of both. , , xil In the local produce market tho prices remain unchanged, as follows Best dairy tresh butter is 6d, second quality sd, ami third quality 3d per II) wholesale. Eggs are lOd per dozen wholesale, and J.s per dozon reMilling wheat: The weather is all that could he desired for the growing wheat, and if it continues fine for a few days longer cutting will .'"tin ill our district. The brilliant weather ivo are having for the holidays has meantime stopped all buying and selling either North or South. Bran and sharps : There is rather more inquiry. KAURI GUM MARKET. Tho following are the quotations for the kauri ?um market for the week ending December 31,1895 :- Poor ordinary, which comprises weak ana rough-coated piecos, pickings, and washed nuts, £28 to £34. , , , . Ordinary, meaning hard,, rough-scraped gum, varying in prioe according to the quantity of washed nuts, ranges from £38 to £44. Good ordinary, meaning hard, unpicked range gum, price varying according to size, scraping, and freedom from weak pieces, from £47 and upwards. East Coast, £70 to £72. , n^ Supplies for 31 days in December, 620 tons. The market is practically unchanged, and little business doing.

LONDON. Press Assoclatlon.-Klectrio Telograph.-Copyright. London, January 1. Tho total quantity of wheat and flour afloat for the Uuitod Kingdom is 2,480,000 quarters, and for tho Coutinent 950,000 quarters. The American visible wheat supply is estimated at 97,800,000 bushels. The Australian and New Zealand Mortgage Company's 4fc debonture stocks are at 102. Dalgety's 4$ per cents, are at 116.