The fluctuation in these figures is very serious to all interests, as well the banks and importers as the shippers of produce. The price of gold, January 1st, was 133, and on the 31st, 1603-the highest point. The price rose steadily until the rumors as to the intention of the Senate caused a fall to 52, followed by a sudden reaction to 64. The price of bills followed the rise in gold, but with extreme caution on the part of drawers, who could name no rates until they had covered themselves with gold or commercial bills. On the 31st the rates reached 177, or $7 85 per £. February 2d, on the fall of gold, sales were made at 169, or $7 50 per £ for the Arabia, which carried $286,000 in gold. Subsequently the rates rose with the reaction in gold, and in the last week there were rumors that the Supreme Court of New York, in the case of Judge ROSEVELT, had decided against the constitutionality of "greenbacks" as a legal tender. The demand from importers is good for bills, since they seek to cover invoices on the arrival of the merchandise. The pecie movement is as follows:

SPECIE AND PRICE OF GOLD.

-1861.

1862.

Received. Exported. Received. Exported. Gold in bank. Prem. on gold.

681,448 35,954,550 344 a 34 726,746 36,770,746 34 a 39 1,880,247 87,581,465 40 a 49 a 50 780,816 88,549,794 47 1,331,027 38,891,840 487 a 601 801,860 1,277,000 38,243,839 57 a 57 359,978 1,152,846 38,426,460 531 a 531 520,017 37,981,310 54 a 64

January 3.

442,147

10.

885,928 1,035,025 1,277,788

547,703

66 24. 627,767

322018

678,841

"6 31.

310,484

......

February 7.

854,000

976.235

66 14. 614,146

1,156,154
934,512

Total.... 3,721,083 5,525,178 3,618,466 7,850,147

demand, growing

In the last week there was an increase in the gold out of fears in relation to foreign action, caused by the reply of Mr. SawThis outward curARD to the French minister in relation to mediation.

rent of specie does not embrace the shipments from Boston nor the quantities that go to Canada. Every new fall in the value of the paper currency gave a new impulse to the outward current of the metals, while the amount of gold in the banks with difficulty sustained itself, notwithstanding the disposition in many quarters to hold gold rather than other articles against the falling value of paper. The attempt to tax bank capital in order to drive in the circulation of banks, under the impression that it will leave more room for government paper, induced the banks to call in their circulation to some extent, as will be seen in the bank tables elsewhere. The banks are, however, exposed to another danger, since, under the impression that the validity of the legal tender character of the government notes cannot be sustained, there has been a disposition to hold the city bank notes for ultimate payment in specie under the State laws. The city banks indeed report nearly five times as much specie on hand as circulation outstanding, but a large portion of this specie does not belong to the banks. New York city bank notes were 103 @ 104, and many of the banks exchanged the notes they had on hand of other institutions for their own thus held by others, effecting a great reduction. The speculative action in stocks did not reach the government securities, notwithstanding that the interest on them is payable in gold. The rates were as follows:

The operation of the paper currency seems so have the effect of encouraging imports and discouraging exports, and at the same time of bringing all business more upon a cash basis. As the banker cannot give time upon his bill where the cost of covering it varies so rapidly, so neither can the importer give credit upon goods, the cost of importing which, as in January, may vary 40 @ 50 per cen: per month. To sell goods on time for money which suffers such an enormous change in value, is simply to gamble. Nevertheless, that the prices of goods do rise so as to cover the cost of importation, is proved in the continued increase in the imports. Those for November were $10,300,000; for December, $13,072,000, and for January, $15,739,000, as follows:

January..

IMPORTS, PORT OF NEW YORK.

Specie.

Entered for

Free goods. Consumption. Warehouse. Total. $101,906 $2,413.649 $8,741,227 $4,482,794 $15,739,676 January, 1862.. 168,658 2,552,050 6,763.396 3,141,725 12,620,897 The duties paid in the month of January were $4,127,906, an average of 35.51 per cent. Last year the average was 30 per cent, and in 1861, 19 per cent. If, however, we add to the average duty the cost of specie and of exchange for the first and last week of January, the difference will be as follows, per $1,000: First week, duty $350; specie for duty, $117; cost of exchange over par, $335-total, $822, or 821 per cent. In the last week the duty was $350; specie for duty, $210; cost of bill over par, $60-together, $1,160, or 116 per cent, an increase of 34 per cent in cost of importations. The cost is fixed on the arrival of the goods by the immediate purchase of the custom notes and exchange. This works well while the currency is depreciating, but not so well if by any means it should appreciate. The exports of the port have been as follows:

January...

January, 1862..

EXPORTS, PORT OF NEW YORK,

Specie.
$4,624,574

--Foreign.

Free. Dutiable.

147,893

$73,111 $668,275 $14.829,398 $19,695,351 2,658,274 27,193 12,053,477 14,888,437 The exports of domestic produce are apparently $2,700,000 more than last year; but the amount to be realized from it is really but $9,886,000, or $2,100,000 less than last year. It follows that, instead of a balance due the country, the amount is largely the other way, including the specie shipments. The depreciation of the currency gives rise to other complications. Thus, the bark Mary Edson, at Leghorn, from New York, was detained at that port in consequence of being unable to collect her freight money, except at the rate of francs 3.90 to the dollar, that being the amount that the house to which the vessel was consigned claims to be the equivalent of a dollar in American currency. On such a construction the loss would be serious to the vessel.

STATISTICS OF TRADE AND COMMERCE.

SUGAR TRADE OF THE UNITED STATES FOR 1862.

THE following table shows the quantities of sugar consumed in the United States, the quantity per head of the consumers, and the average prices in New York in 1831, 1841, and from 1851 to 1862:

The great fluctuation in the sugar market, caused by the failures of the Louisiana sugar crop in 1857, can be traced by this table. The sugar crop in that State in 1853 was very large, and as a consequence, aided by financial pressure, the price fell very low, encouraging consumption while it discouraged planters. In the following year a great decrease was manifest in the crops. Many of the planters had turned their attention to other crops, particularly cotton, which was more sure. The number of sugar houses was reduced from 1,481 in 1852, to 1,299 in 1855, and the reduction was progressive. As a consequence, there was a larger dependence upon the foreign sugar, and this increased American demand happened at a time when a disease broke out among the French vines, causing a demand for sugar for distilation, and the price rose all over the world, when in 1857 the Louisiana crop failed almost altogether. This was a fruitful cause of the financial revulsion in that year. The alarming state of affairs attracted the attention of Congress, which fitted out a vessel to procure fresh supplies of cuttings from Bahia, British Guiana, and for free distribution among the planters. The high price of sugar drew large quantities hither from countries not before known as sugar exporters, and a new article called melado, which has continued to form a portion of the sugar supply, made its appearance.

It will be seen that the consumption during 1862 was greater than in any previous year, notwithstanding the price was higher. In Cuba raw sugar has been during the year about 4 cents per pound, and the difference between that and New York prices is caused by the duty and the

premium on gold. For instance, to get the actual cost to us, take raw sugar in Cuba at 44 cents, and add to it the duty which is 24 cents, making 7 cents; but the duty must be paid in gold, which, at 33 per cent premium, (a point near which it has been a large part of the year,) would add one-third to the duty, or make the cost of the sugar with duty paid 73 cents. Exchange with which the 4 cents at Cuba had to be paid was 147, while gold was 33, which increased the cost to us 14 cents, making 9 cents per pound the actual cost (without freight) of the raw sugar, while gold was at 33. Now that gold is between 50 and 60, of course the cost has proportionally increased.

The following tables, which we have prepared from MORING'S Monthly Circular, show the imports, exports, consumption, and stocks of sugar during the past two years:

IMPORTS OF FOREIGN SUGAR AT ALL PORTS, (ATLANTIC COAST,) CONSUMP

Of course in the above tables no account is made of the quantity of

sugar made from sorgho. The amount, however, is inconsiderable, the most of the product being converted into syrup.

As to the trade the coming year, of course reliable estimates cannot be made. What we shall receive from New Orleans is very problematical. All we know is, that a very large import of foreign sugars is looked for, and even higher prices than now rule.

THE CALCUTTA TRADE.

The following statement of the Calcutta trade is made up from the annual review of T. K. CUMMINGS & Co., as published in the Boston Shipping List. There has been during the past year, as in 1861, a falling off in this trade:

Imports of sugar in 1862, none, against 10,378 bags in 1861, against 10,201 in 1860, against 13.009 in 1859, against 12,888 in 1858. Imports of rice in 1862, 17,252 bags against 29,127 in 1861, against 200 in 1860, against 7,000 in 1859.

The total imports of Calcutta goods into the United States have been as follows:

IMPORTS OF CALCUTTA GOODS INTO UNITED STATES.