The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-12-21
FINANCIAL.

There is a strong opposition raising its
head throughout the country TO the present
national banking system, which may event
nate In some action by the present congress
before its adjournment interfering with
the hanks at this Time, when the whole
country is prosperous, may be oil doubtful
nronrietv. although some strong reasons are
advanced why they should be abolished
and a national currency established in their
stead. The Brooklyn Eagle, one OF the
strongest advocates for the repeal OF the law
saws the rational opposition to the rechart-
ering Of the national banks Is Dased on
these grounds: The issuing OF the currency
of the country isl function OF the govern
ment of that country, and whatever me
currency of our country is, or Is 10 DC, Ihe
Federal government shoulu Issuo y, o ';nu
should issue all it. by replacing
The nresent volume of bank notes with
government notes, the government VIII DC
able 10 nav of oyer.$350, 900 600 otthe puDnc
debt and The currency will not be disturbed
nj all In refutation to this the Chicago llmeS
saws it is enough to say that us nov tIe
function of the government OF country 10
issue all or any, of the currency OF lhat
country. Governments have assumed TO
receiye leposts of gold and silver bullion
from individuals, to manufacture the metals
co denosited into pieces of convenient form
and size for use as money, aud to certify to
the weight and iineness OF the pieces inns
IN not "A necessary, but only cOhVeiltlo'lai,
function of government. In exercising IL
government does not supply cur,
rency at all; the people supply IL, anu
government simply performs the ser nL;c
of manufacturing and certllylngi lhis
is all that government ought 10 u1 ~ Wy \,
- al M when III
assumes to supply either, or to regulate the
volume or both, 1t goes outside OF its pro
per sphere, and attempts to do that when
L is utterly incapable Of doing properly. 1t
wonld not do very great mischief IL IL as
sumed to supply gold money alone, but
when it assumes to supply credlt money,
and to regulate its volume, 1t Is almost GER
tain to do vast deal OF harm
In New York, on the 14th, the Board OF
Trade adouted n resolution asking Congress
Ia make trade dollars legal tender to the
same extent as the standard silver dollar
The st. Paul banks show an increase, thiS
wear. of $3.50 600 in capital, sos ,Oo0 III sur
plus, $685., 43i in deposits, s2'o9''oVo III
loans, and $500, 900 in exchange,
After listening to the views oil secretary
Folger, the Senate Finance committee
unanimously lnuorscu Ju,u o"oI 10 i . =
per cent. funding bill, with amendments dld
providing that not over 80 ,oOoVVo III 10,
posits shall be received at one tinne, anu
coed $200000,0O0.
American hints and assay offices have,
during the past year, received and operated
upon $50 900 more of gold and silver
than during any previous year. The total "a
amount of their receipts is $226, % ,522l6,
Of which upward of $l92, 0oOo 600 was. gold;
The poll tax collected in Des Moines this
year amounted to $0,s37 80. it.,
The total expenditures OF the national
government, up to date, for the improve
ment of the jetties at the mouth OF the
Mississippi amount to $455O,OOo besides
81 600, 900 due James b. Eads,. not paid,
but retained as security for the perma-
nency OF their construction.