The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-12-18
FINANCIAL.

L
suance of silver certificates is already at
tracing the attention of Congress. On last
Tuesday Mr.. Smith, OF Illinois, introduced
a hill, which is intended to restore the legal
tender character of silver. Section J pro-
vides that any holder of the coin authorized
by this act may deposit the same with the
Treasurer, or any Assistant Treasurer of
the United States, in sums not less than
$40, and receive therefor certificates at the
option of the holder Of the coin of the de-
nomination of 81, 50, 50, or $40, correspond
ing with the denomination OF the United
States notes."
The law as it now stands permits the issue
of $40 certificates only, Mr.. Smith having
been banker for sixteen years, says that
he knows the people prefer.a paper currency
to coin as a circulating medium. lie also
introduced bill authorizing the issue OF
gold certificates in sums of 30 and $40
in addition to the $50 certificate now au-
thoriZed.
Mr.. Marsh introduced a bill authorizing
the taxation Oy Ine states OF the lesal-ten-
der notes of the United States; that the
Treasury note of the United States, known
as legal-tender notes. shall be liable to tax
alton on an equality with gold and silver
coin during the time they continue to be
redenmaple by the Treasurer, and no
longer.
THE estimated loss este creditors from the
failures of national banks during the eigh-
teen months since the passage of the act IS
50, 10000, and the annual average loss has
therefore been about S346 CO0in the business
of corporations having an average capital
of about Sl50,O00,OOO and deposits averaging
about $S00,000,0O0. Twenty-one of these in
solvent banks have paid their creditors in
full and ten of them have paid more than
rs per cent. each. The individual liability
of shareholders of insolvent banks has been
enforced in titty-three instances, and about
S27O0,0O0 has been collected from this
source
The Secretary of the Treasury, in esti-
mating Tor appropriations for 1882, calls for
the following amounts to be expended III
Texas: For construction of military works
on Galveston Island for the defense of the
city and harbor, $4,000; for improving the
mouth of the Brazos, 100000; Buffalo
Bayou, 100000; for protection Of the river
bank az Fort Brown, $4,000; ship channel
in Galveston Bay, $4,000; Neuces River
$4,000 Sabine River, Sl4 00Oirrinity River,
$4,000
The local Indebtedness of the United
States is 81 III, S3l ,67l. They are trying to
raise another howl against paying. the ma.
tional debt by showing that Us it decreases,
ing.
Twenty-cight mines, located In Califor-
MIA, Nevada, Utah, Arizona, Dakota, Col
orado, Montana, Mexico and Michigan
have Reimbursed their stockholders in the
past thirty days, to tho aggregate amount
ot$1,7s2, 125.
A quarterly report of the Western Union
Telegraph Company for the quarter ending
December 81, 1881, shows estimated net
revenues for the quarter Of about 5000
527, A dividend of II per cent, is declared
payable on the 10th of January next.
The New York Banker and Broker thinks
Secretary Folger, by his offer TO redeem
$5000,0 600 per week of bonds embraced in
the l06th call, has now done all that can be
done to insure easy money for the next
mouth, and it only depends upon the ques-
ton whether the holders of these bonds are
willing to surrender them or not.
A law authorizing the omission of ST.
100000, in one and five cents nickel coins,
has. been. approved by both houses of Con
gress.
senator Vest has launcli,d Capt, Ead's
bill for a ship railway acr rs The lsthmus Of
Tehuantepec. The bill ,.idcs that the
government will guaraL 100000 900 of
bonds when the scheme Is proved to be
practicable, and ST5,O00,0g0 c.. ended on it,
DALLAS EXCHANGE AND COIN.
Buying, Selling
New York Exchanges '."...'..'"h%N Parr@f
ST. Louis .,...,....,.,,......",...
Chicago, ,,'.,',,,,.'',',,'','.,'.,'
New orleans. ,....,,......,.....,,.
Galveston and Houston. ..........".k
Commercial exchange upon all points y to \
discount
Sterling sight 81 IS.
Francs sos 10.
Marks rs.
Gold, silver, other than trade dollars, par.
Trade dollars ........................... 10 cents
Mexican uOllhrs ..,.....'........'..,..' 81
Mexicnn halves ACKNOWLEDGEMENTS. 40