The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1881-12-22

national hahklhf system, Which fngy event
tialo M aOfne aotloh Nv he present l0nffgw
brf,Ge ~ Adjournment, Interfering WIN
The hanks NJ This tlno, when llie whglg
country " prosperous, may be Of doun'lul
pfDpfl6ty, although some HfpnR fcnspnsWe
advanced why they should be abolished
and o national currency established ~ iliglr
stead. The brooklyn Eagle, one pl lhe
strongest advocates Tor the repeal NJ thelnw
says the rational opposition ~ the rechnrl-
erina Of the national banks Is bhscd on
these grounds: The issuing Of the currency
Of the country II a function Of llo govern
ment Of that country aud whatever VIC
Federal government should issue y, ana
should issue all oft. :. by replacing
the present volume Of bank notes with
government notes the government VIII ~, De
able TO pay oil over $3.50, 900 900 ofthe pubic
debt and the currency will not be Disturbed
at all. In reftitation to this the Chicago Times
says tits enough to say tina. 1t ~ not tne
function Of the government oil country W
issue all, or any, Of the currency OF thal
country. Governments have assumed 70
receive deposits of gold and silver bullion
from individuals. to manufacture the metals
80 deposited into pieces of convenient form
and size for use as money, and 10 certiiy "
the weight and fineness of the pieces. ms
is not a necessary, but only conveniently
government does not supply cur
rency at all; the people supply 1T, ana
government simply performs the service
of manufacturing and certifying. This
is all that government ought to 40 IN tne
case either of metals or paper. when IL
assumes to supply either, or to regulate the
volume, or both, it goes outside OF its pro
1t is utterly incapable Of doing properly. IL
would not do very great mischief If 1t as
sumed to supply gold money alone, but
when it assumes to supply credit money,
and to regulate its volume, it is almost GER
tain to do vast deal of harm.
In New York, on the 14th, the Board OF
Trade adopted a resolution asking, Congress
i to make trade dollars legal tender 70 the
same extent as the standard silver dollar.
The st. Paul banks show an increase, this
year, of $l5O, 600 in capital, $25S IVY IN sur
plus, $2,655,434 in deposits, $2,S95,OO0 in
loans, and SIS 300, 900 in exchange.
After listening to the views of Secretary
! Folger, the Senate Finance Committee
unanimously Endorsed John sherm I,a,st .
per cent. funding bill, with amendments
providing that not over $25 900 900 in de,
POSTS shall be received at one time, ana
that the bonds to be issued shall not ex-
eeed 500, 100000.
American minis and assay offices have,
during the past year, received and operated
upon $50,0o.Cy,vvO more of gold ara silver
than during any previous ,year Inc eo sot "
amount of their receipts is $226, ,oZ5'4o'
The poll tax collected in Des MONIES TINS
year amounted to $9,937.5O.
The total expenditures of the national
government, up to date, for the impro.Y, ~
ment of the ietties at the mouth OF the
Mississippi, amount to $455O,OO0 besides
100000 due James B. Eads, not paid
but retained as security for the periha-
nency of their construction, - @.
A Washington correspondent OF inc Oh
Louis Republican says: In 1876 the receipts
of the government amounted to $ZS5, ioo,-
493: in 1877 they were $269, 0oO, $3.50; 1873
1851 .763 S79: 1879, 1913, S27, 1874; 1850, $685.
5c6.61l; 1881, $500, 7s2, 292, and Secretary
Foiger estimates that the receipts Tor or the
current fiscal year will reach $40OOOO,ooo,.
1t is interesting to note that, notwl.nt
standing the enormous burden imposed
upon the government by the Arrears OF ZEN
sions Act, the expenditures in 1881 were
only about SO 600 600 more than they were
in 1876, so that the, Treasury
was enabled to pay. to the sinking
fund $74 81 200 in bonds, sos, Ool IN irac
tional currency. This leaves deliciI t S.li
upproyided for of of SIG, 305, 1873, but all that
the fund requires this year, including TINS
deficit, will be S59634,S56. In these foul
vears The payments for pensions have in.
= creased from sos, 257, 1896 to $50,059, $50. To
balance this there was saving on the clVil
list of 81, OOO, 900, and oninterest on the pup
lie debt of 5000, 600.
Tn 1880. when the receipts had reached
1898. SIC. Gil the expenditures had gone VI
to S367 Ga. 1858. Most of the balance, how
ever. was required for the sinking-fupd to
which the Government had been so long III
arrears. The first effect Of the Arrears Act
was felt in 1879, when the list jumped from
$27, 1877 Ole to S35, 12l 4s2. In 1880 tins hao
estimated that $40, 900 900 will be required
this year, and that for the fiscal year 1888
fbe 1ension list will cost the Government
the enormous sum of 0O,0OO,OOO
In the meantime, however, there II
constant saving !. going on a
interest on the he tnd pubic a;nIsin, f SeUi
The interest on the public debt, which
in 1879. amounted to S105327 ,949, in 1851
was sos. Isl, 575: in 1881, was So, Dos, TAI; IN
1890 will he $40, zoo, 900, and in 1888, as esti
mated. will be S65 900 600. Here is saving
in four years of about $40, 100000; while
there was actually paid the sinking fund, IN
1880, about $4,000, coo, there VIII pc que
the fund in 1888 only 1911, ia, saving
of Sl9 600, 600, making total saving OF SOY,
100000 on these two items. 1t is thought
also bv Mr.. James that by 1888 his depart
ment will be selfsustaining
ItI.ryors paws an integral revenue tax Of
nearly sec. 100000 for 1881, which Us s6,hVp,'
q Is RS6S Of ~ th amy yyh SGr SS
collected in the United States, while the
nonulation Is only about one-sixteenth.
Sfbe following Is the last statement re-
turned nv the Boston national banks to the
clearing -house: Capital $50 900 600; loans,
si4s, 100, 100, specie, ss,iOO,oOO ise~i-.eiias
: notes. 81, 496 600 per cent funds, Sl622,-
s0o. due from reserve agents, 311 ,1sS, 500;
due from ether banks, $ll 10000 due 70
other banks, $29, 939, 800; deposits, $65, $50,
600. circulation. S22, 0JS,6OO.
The most important new financial under
taking abroad Is the Unien Bank OF Spain
and England, with a capital Of t5oo,ooo
which 10 supported by Powet,iui P %s.Si,
and = new issue Of the Egyptian Credit
Foncier TO the amount Of 81, 10000.
The Commissioner Of the General Land.
clice has ordered sales OF 5000 acres Of
public lands near Toledo, February -
next.
DALLAS EXCHANGE AND COIN.
rev r.,. r.ss.... n'Es1ssk s Ss'5i1:
Ct Louis .............'''.'..''''.
Chicago ....'-.'''''''''''.
New Orleans. !, -,
%cmmerciai exchange upon all points X 70 X
Discount
Sterling sight 81 S.
Francs 5a5'1o
Goa. siiter. other tssp trade dOlisrs par;
Trade d0ybhrs ~ cehls
Nericnu{ dollars. ............s....-.-...'
MexicaI halves. .........-......s...s
Hezie,h quarters. ......... ..-....''''' ID
COMMERCIAL.
D.r.s December I9.-Mr. n. Q. Ball
of Shreveport. is nOv in this city inveeti
rating the { ssibility. Of erecting new ice
works here with a capacity o. not les tnin
f,rtv tons Ter day. Mr.. Ball experimental
the erection OF the works In sherman ana