The Waco daily examiner. [volume] (Waco, Tex.) 187?-1888, 1881-12-18
FINANCE AND COMMERCE
The HOIae and Foreign Mar
kets Yesferday--GeneraI
Reports.
EXAMINER OFFICE, December II.

-
ADIvINE COMMERCE.
Henry Ward Beecher is opposed to {
protective tariff, and is engaged il
preaching against it. His remarks are
. very interesting reading. They clotht
an ordinarily dry topic in attractive form
aud present truth in unique and startling
shapes. We excerpt from one of the
liscourses paragraph:
at is contrary to morals and the spirit
If our fathers to put commerce in bond
age. Commerce is to the nation what
] blood is to the body 1t equalizes the
zones. Its white wings are the gospel
/ of the world. Since the time of Paul
, every ship has been an ocean pulpit,
with as much harmful stuff as other
pulpits. Before the rebellion orr ships
led the commerce of the world. But
now the ships are sold and the yards are
silent. Commerce is in chains - a
prisoner at the heels OF manufactures
, Instead of being an eagle it is mere
dunghill fowl. Now ships want bounty
to keep on the ocean. There should be
important and omnipOtent reason for
this All tariffs are taxes to support the
government, directly or indirectly. All
taxes should be certain and direct; but
tariffs on imports are uncertain and in
direct They add to the cost to con-
sumers of articles, but are hidden in the
price. Direct taxes tend to economy in
government. We are now in danger of
having too much money for government
purposes. Protective tariffs cut out
from under men the motive to use all
skill and generous competition. They
fall back ON the artificial aid. Our pres
rtsyr
glOmeratiOn, makes the average tax 81
per cent. We can hold our own in spite
of foreign labor. The protective tariff
rgises the wages of 100000 labOrers out
of 10,W0,000 at the expense OF the rest.
nnd at the expense Of the increased
rents and cost of food. We must manu-
facture to rise in intelligence; but onr
industries do not need to be fostered.
Protection is at first whet to enter
prise but it soon DESTROYS it. None ever
reach the time when they say they no
longer need aid and are willing to give
mp help. None will give up the teat, but
still want to lie at the breast of the gov
eminent. MilIionaires iufest congress TO
maintain extortionate tariffs, and cry cut
against the use of British gold in the
interests OF free trade"
THE CATTLE MARKETS.
OF the cattle markets for the past
week the Kansas City Times says:
The receipts for the past week have
averaged very small indeed for the time
of the year, and until yesterday the
quality WAS common and rough stuff
The market has been improving in tone
for some days, and the light supply and
the demand has been active for nearly
I,n l., = hub i,ll
for prime shipping and butchers stock
and feeding steers. Yesterdays receipts,
though light, were OF excellent quality,
and there was strong and active mar
| ket, with not enough OF cattle to supply
the demand. Feeding and stock steers
were in excellent request, firm and
| higher. Shipping and export steers
wers in demand ut strong prices. The
| highest price ever paid in these yards
was received for load Of export steers
averaging 1920 pounds. They brought
$3.50, being shipped IN from Muscotah,
Kansas, by ]. H. Moon. Other lots of
| beeves sold at $3.50 to 5000. Altogether,
the days business shows the best aver
age prices of the season. !The market
closed firm all round
| CONDITION OF BUSINESS.
/ The New York Shipping List, of
December 10, in its review Of finance
and trade, says: AN unusually large
number of failures have been announced
/ during the last two or three weeks i'll
various parts of the country, and 1t is
not improbable that a considerable num-
her of other firms will be obliged to pay
| the penalty of violation Of the inexora-
| BILE laws of trade before the turn Of the
year. But in spite of Over-trading and
unwise speculation that have been in
dulged In during the year, there are no
| indications of widespread insolvency. On
| the contrary, we believe the business
heart of the country is sound. There
| fore the dropping out OF the ranks OF
few concerns which have become dis
abled through Over-wrought competition
is not calculated to excite any uneasi-
ness. Indeed, to the commercial com
munity at large these failures serve as
useful warnings against improviGence
on the one hand, and credulity on the
other, thus exerting a salutary intiu-
ence.'
OPTION DEALS.
St Louis Republican, 18th: A large
part of the afternoon yesterday in cir
cult court No. was devoted to the case
Of Gibbon VIZ. Stinde, and the case will
not be completed until to-day. Gibbon
sued Stinde on a note for $1,000, and
attached money in the hands of the
Merchants exchange and II. W. GOlsan
Il Co. On plea in abatement, the jury
found verdict for plaintiff, and then
came on the main trial on the note. The
defense set up is that the note was given
to cover balances due against defend
ant in option deals. The court ruled
that the defense must show that at the
time the sales and purchases Of futures
were agreed on there was an actual
agreement that no grain should be re-
ally delivered. To-day Mr.. John NJ.
Glover, for the plaintiff, and Mr.. S. N.
Tut, for the defendant, will argue the
case before the jury.
THE CORN MARKET.
A slight sympathy with wheat and
lighter receipts induced a firmer feeling
in corn markets, but the advance early
in the week was not maintained. The
closing of lake and canal navigation,
together with the same monetary in
tluences affecting trade generally
prevent any decided appreciation.
Stocks in sight in this country are being
reduced rapidly, the visible supply" at
latest reports amounting to lS,S1S,000
bushels against 20,614,000 bushels the
previous week. Receipts do not improve
at leading markets.
THE LOCAL MARKETS.
To-day in retail lines was rather dull,
the dullest saturday noticed in some
weeks. 1t goes to show that trade is
gradually shrinking in volume. Our job
beers continue to have good trade, or
ders coming in with satisfactory regu-
larity from all directions.
Cotton was quiet and steady during
the day, with rather light receipts. Spots
experienced no change from the prices
which have been ruling several days.
Futures ruled steady through the day,
but On the last call declined points. In
the general markets but little was doing,
and there is no change to note in quota
tions. We quote:
Strict good ordinary. ............. Gle
Low mlddllng. Observation-Disclosures. 9Rc
Strict low middling. .104c
Middling. ...... ........ 1O15c
Strict middling .............10 4c
Good mlddlIng. ................11 lie
Receipts for the day 100 bales.
Bacon, clear sides. 1A@12
Bacon, breakfast ..... IA
Hams, choice. ..,,.......... 124@14
Lard. 1873
C ffee................... 1895
Sugar, P prime @.i's.. ... sAe1o 6OA
Sugar, choice .........-. 10@1015
Rice. ..- 74@8A
Molasses, choice, new crop. 7O@75