The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-12-09
FINANCIAL.

FINANCIAL.
The following is Senator Sherman's bill
TO provide for the issuance Of 3per cent.
bonds. This bill bears upon its face evil
dence of wise policy, and while it will no
doubt meet with opposition ON the part OF
the bond-holders, il will be approved blythe
taxpayers and the people at large, There
is no gentleman who is more familiar with
the subject of finances than Senator Sher-
man. and we have no doubt he is correct in
stating that at the low interest of per
cent. they will command premium in the
markets from the day of their issuance:
"Be it enacted, etc, that the Secretary of
the Treasury is hereby authorized to re-
ceive at the Treasury, and at the office of
any Assistant Treasurer of the United
States, legal money of the United states to
the amount of 500 or any multiple OF that
sum, and to issue in exchange therefor an
equal amount Unregistered or coupon bonds
of the United States, of the denominations
of $50, 500, $500 81 600 and $4,000,
of such form as he may prescribe, bearing
interest at the rate of per cent.
per annum, payable quarterly or
semi-annually at the Treasury Of
the United States, Such bonds shall be ex-
empt from all taxation by or under State
authority, and be payable at the pleasure
of the United States, after January |, 1887;
the order of their payment to be deter
mined by law, or in the absence of snch
legislation, by rules and regulations TO be
prescribed by the Secretary of the Treas.
ury. The money deposited under this act
shall be promptly applied solely TO the re-
demption of the bonds of the United States
bearing 81 per cent interest, and the ag-
gregate amount OF deposits under this act
shall not exceed $SOO,0O0,OO0,"
THE following summaries of our foreign
trade are from the October report of the
Bureau of Statistics.
Month ended October 81 1881 ......S ag7l, $50
Month ended October 81 1880 ,.,.,.,. 3l663,G1
Ton months ended October 81 1881 . 100 i73, COZ
Ten months ended October 81, 1880. l05, i62 491
Twelve months ended October 81, 1881 .2l7 SS7 1858
Twelve months ended October 81, 1850 l55,576.S.7
The excess of the imports of gold and silver
coin and bullion for the same period, AS
compared with those of the previous year,
was us follows;
Month ended October 81 1sSl.."...."s. 5l6s,Ols
Month ended October 81 1880, .,....... Hj52, 1888
Ten months ended October 81, 1881. A. 793 liz
Ten months ended October 81, lSSJ,... it0gO,SO3
Twelve months ended October o. 1881 60 03l, l3S
Twelve months ended October 81, 1880 67,25G6S9
A dispatch from FL Paso, Texas, says that
an enormous body of very rich gold, silver
and copper carbonate forty feet thick, has
been struck in the Memphis Nine,
Orange mountains, east of Las Cruces.
Batopilas Consolidated, Mexico, have STAN
peded; fifteen were drowned while on the
way to chihuahua City. All the miners in
the Cusihuiriachic and Santa Eulala
mines, near Chihuahua City, have struck
because of i'll treatment and the alleged
failure of the New York contractors who
engaged their services. Heavy strikes of
gold and silver ore are reported from Do
lores district, west of chihuahua. Stage
passengers from Chihuahua report that In
dians are causing great trouble to miners
north and west of the city.
The expansion of bank circulation
bears witness to the continued spread of
the business boom. There was an increase
of $l,T0I 900 in November, against 81 ,G5l,-
0OO.n October, while the increase in year
has been SIS, 5000
Governor McEnery, in his message to the
called session of the Louisiana
Legislature says the financial CON
dition of the State is unsats-
factory. The expenditures largely exceed
the revenues, The appropriations against
the General Fund for 1850 and 1881
amount to SLAP, S297l. The revenue
for the same period actual and
estimated, amount to S15S.0l, showing
difference between the estimated revenue
and the appropriations OF yvA ASST.
There is no reason for the continued cry of
poor Louisiana" and her impoverished poo
pie. We must realize the fact that she IL
rich, and force her to the front rank of
States. Her assessment roll of 1880 shows
valuation of $l77006 469, and for 1881
SlSl ,66O, go. This is wrong, and should be
corrected such valuations do us no credit. |
When the property of this State is thor
0ughly assessed even at two-thirds of its |
value, 1t will show valuation of quite
$3OO,0OO,OW. The constitutional limit on
taxation will then be more than sufficient
the tax rate can then be reduced, the State |
government sustained and our State debt |
annually decreased. Confidence will be |
restored, our bonds will be on the market
at reasonable interest commanding a pre- |
MUM capital will rapidly fndNits way
here, and we will no longer be Inundated |
ut the low credit of our State.
Silver dollars with holes in them are
painfully numerous, but they are not half
SO painfully numerous rs holes without any
silver dollars around them.
Reduction in the Star mail service during /
November was over 100000.
There is over $l3,000000 more assessed
property in Tennessee for 1881 than for 1880.
DALLAS EXCHANGE AND COIN.
New y, York Exchange. S"&E'$%& Falling Falling
Ss LOUIS ,...,...,,.....,,.,..."
NNn s,s 4r,o.n:
NeW orlenHs' ,.,','.,,,,,.,,,.
Galveston and Houston