The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-11-26
FINANCIAL.

tons Of Secretary James is the establish
ment of postal savings depository, where
money, however small the amount may be,
can be placed in a post-ofllce and interest
thereon accumulated by the depositor, al
though the per cent. itself is insignificant.
These deposits, ifissued in the form ola seer
tiiicate fdeposit," may be used as u circu-
latlng medium in case the depositor wishes
to dispose of them. There Is no doubt that
the adoption of tins recommendation would
prove a great benefit to the laboring classes,
and a source of revenue to the gov
ernment. We give the Secretary's
report in regard to this matter in full beliey-
ing its wisdom and utility will result bene-
tcially to all classes, if adopted by Con-
gress, He says:
AS early as 1871 recommendation was
made by one of my predecessors for the es-
adjustment OF system Of savings deposit
tories in connection with this department,
and in several subsequent annual reports
this recommendation has been renewed.
December Is, 1873. "a bill to establish
and maintain National Savings Deposi-
tory as branch ofthc Post Office Depart
ment' was introduced in the House of
Representatives by Hon. Horace Maynard,
of Tennessee. From time to time since that
date the measure has occupied the atten-
ton of Congress, and many bills have been
introduced, but without securing definite
action.
system. of Postoilice avings banks
went into operation in Great Britain Sep
TENDER lG, 1861. At the close its first
complete year the number of open accounts
was l7S405, and the amount standing to
credit al ttor a. -. -.
an average of 60 los Sd to each account
Since that time the institution has
grown rapidly in popular favor and ON the
3lst OF December 1879 the number of out
standing accounts has risen to / 0SS Al, and
the amount of the credit of depositors to
t32,Ol2l3, an average of ZIG Is 1l2d to
each. The interest paid to depostors is
only y per centum, u rate so low as prac-
tically to exclude the Postofllcc Savings
Bank nom competition with other banking
institutions, as the history of the rise and
pr r,,,rsss of savings institutions in Great
aS demonstrated the object G,
Brtaln h Rg to offer to the ine
security rather than'y'fl resJ.fible invest
mcnt for his earnings, ana to promote
frugality, steady habits, and consequent
thrift among the laboring classes.
My predecessor in his last annual report,
States there are no savings repositories and
are not likely to be; and he expressed the
opinion that, to the people of these parts,
the use of the post Office for this purpose
would be real boon. That would be an
advantage to the patrons of the institution,
that deposits would be available ut any de-
pository post Office in the country, IAN inn
portant consideration with people so mi
gratory rs ours" He further expressed the
half hat In etn
with the business of the savings
banks, but would rather absorb
the funds now deposited in
them. He thought that the pat
ronage ofthc Government would not be
sensibly increased, since the system would
be conducted by persons already i'll the
public service, with 10 considerable addi-
ton to their number,
In these views concur It's my earnest
conviction that n system of this description,
If adopted, would inure more than almost
any other measure of public Importance to
the benefit of the working people of the
United States and commend it the favor
able consideration of Congress.
The financial articles of the Chicago
Times are always logical and show the writer
conyersant with subject on whit nc treats.
In discussing the theories OF the projections
lists l.. regard to the balance of TRADE now in
Oul luNbT, us SuuWll ny VIZ ICNNllta u Nulu
and bullion from abroad, he says that the
statistics show conclusively that this coun-
try cannot 90 on exporting an excess Of
merchandise at the rate it has been doing
for the past few years for any great
length of time and taking pay for the
difference in gold and silver, without
exhausting the worlds supply of
these metals, and thus bringing
this sort of commerce to a full stop. Dur
ing the four years ending the 30th of last
June, the excess of our merchandise eI-
ports over our merchandise imports was
S9i9 S62, $50, or, in round figures, $3.50, 900
600. Should the excess ofexports continue
at the same rate for twenty-five years, or
for twenty-one years from the 30th of last
June, and should we get the diff
ference in gold and silver, we would
take in an amount of precious metals equal
to the entire estimated supply of the world
at the present time. 1t is simply impossi-
BILE to carry on commerce in this way for
any great length of time, and therefore it is
impossible that the condition of foreign
trade which the protoctionists regard as
most favorable should be permanent; and
rs any theory regarding trade which neces-
sarily involves the end of trade as its logical
result is presumably false, the pro
tectionist theory regarding the bal
ance of trade is presumably false.
ABOUT li,Uuu men are engaged IN Colo
RADIO in farming, and the average number of
days labor is about ,203 during the year,
which, at 50 per day, would, together with
interest.and improvement, make $4,000, 600,
The number of dollars taken out of Colo
RADIO mines in 1850 was 2O,0O0.000; hence
we see il costs 50 cents for every dollar OF
gold or silver taken out.
DALLAS EXCHANGE AND COIN.
Buying Selling
New York Exchange. ....,.,...,.b@& Par@A
Oh LOUIS .,'.....',,,,'',.,,s .-'.s.s'
NnlVhSo' ''ss's''ss's.'s s'ss's'.'s''sss.
NEW OIlchllS. .s..sss.s..ssss..
Galveston and Houston, .,..,..,..."k
Commercial exchange upon all points u TO
discount
Sterling sight 81 81.
Francs 5G5 10.
Marks o.
Gold, silver, other than trade dollars, par.
trade dollars. ,.,.'..'s...".,.,.,,....., W cents
Mexican dollars. ACKNOWLEDGEMENTS
MeNlcHu hhlVcS,. ,..,,,,..,.,,.,,,,,,. ~
Mexican quarters. ...,,,....,,,......,,..l 10
II
COMMERCIAL.
DALLAS, November 26.--The indication