All the piece goods business of the country continues to be carrie' out on a hand to mouth basis, and Tong as such a position obtains there can bq no. substantial improvement. It means a situation in which any form of competition absent, and accordingly there is no prospect in the near future of prices being carried to a sufficiently; high point to meet the last fal. in exchange, The ease jg one in which Tack of confidence is operating to its utmost extent, for it is not only in the interior that the shops are declining to accumulate any reserve stocks, but even in Shanghai a somewhat similar condition of affairs is reported. The attitude of the slops appears to be to pick up a case of goods wherever it can be done cheaply.
In woollen goods some feezes and gaberdines are going into con sumption, but spoken of. orders in Shanghai from the interior for overcoatings for the winter trade, but it is dificult to get these filled' at all quickly. 'The actual' garments are to a very great extent tailered here, but the present weather the anything means to verify) sold out, of that size represents '15 million) taels in value, and if it is con: ed that a runaway market war foreed to absorb such a huge quantity, one must wonder that the fall in Bombay silver prices was not more extensive, Speaking gener ally, it is much healthier for the market to remove the menace which an excessive holding of silver stocks bby one party is liable to bring about. Final news about the Indian monsoon is very good.
In our last week's review we roferred in detail to the present state of affairs regarding the Treasury's silver holdings. The following! figures indicate the present relation|283. of India's circulation of banknotes and the metallic reserve held there against, Figures are in lakhs of Rupees per August 11, 19:
Notes in circulation 39821 Silver in coin reserve... 9,781 Gold in coin and 2201
Tt should be borne in mind that} the requirements of silver on the! part of India, which, during the past few years, have averaged 100 million ounces per annum, are not, connected with governmental dealings, but are imported by the Bazaars for consumption on the part of the population.
Text read from the printed page and cleaned; old type leaves the occasional error.