The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-11-27
FINANCIAL.

discounts are freely maze ON all n NO. L
paper offered Notwithstanding the cry of
short crops, there never has beeS a season
when money was more plentiful both in
banks and in the hands of planters. Two
reasons are given for this abundance of
money; the first is the fair prices paid for
all agricultural products, and the other IS
the large amounts disbursed by the rail-
roads now building in North Texas. There
is little demand for money outside
Of regular commercial paper, which,
owing to the heavy wholesale business now
being transacted in our city, Is larger in
volume than in any previous year. There
is also demand for building and other
purposes which is fully met. Taken on the
whole, the financial situation in this city
is highly satisfactory.
THE recommendation of Postmaster-Gcn-
eral James to issue postal money orders in
less sums than five dollars, at q reduced
cost, will meet with general favor with Tie
people. We give this part ofhis report in
full
Although the money order fulfills every
reasonable expectation OF remitter and
payee where the amount sent is eonsdera.
BILE, q strong and growing demand has
arisen, since the withdrawal of fractional
currency from circulation, for some device
by which amounts under So could be trans
mitted by mail at less cost than at present.
desire to call special attention to the plan
proposed by the Superintendent for the
transmission of sums less than So by means
OF an order of n new form, to be termed
Postal Order" in which the written appli-
cation and the advice, which is the chief
element of expense as well as of security,
are to be dispensed with, so that these or
ders may be issued more expeditiously and
at cheaper rates than money-orders.
The chief and distinguishing features of
the proposed postal orders besides the alb
sence of the application and the advice, arc
these, viz; as a complete safeguard against
alteration of the amount to be paid, the
figures which represent that amount are to
be punched from three rows of figures upon
the right Of the order, as for example, if q
postal order be issued for 1874, tho is to
be punched out of the first or dollars col
umn, the s from the second or dimes col
umn, and the from the third or cents col
umn. Again, no record is to be kept of the
name of the remitter or of the
payee Of postal order which
is to be payable to the bearor at a d9sig-
mated money-orlcr office, at any time with
in three months from the month of issue.
last day Of the month of the issue, it is to
cashed only upon the payment Of an addi-
tional fec, equal to the original fee, for ev-
cry three months or portion of three
months in excess of that period, it is to be
sold to the public for a fee of three cents,
and no duplicate can be issued ola postal
order lost in the mails or otherwise.
As stated above, this postal order is to be
confined to sums under So; and is
Npt into ln1 tl.pttf -
orders of like small amounts, but is to be
issued concurrently with the ordinary
money-ordcr so that remitter who desires
to send small sum by mail will hayo the
option of purchasing postal order for
cents, of which, if 1t be lost, n duplicate can.
not be issued, or q money-order for the
same amount for 8 cents, for which, in the
case ofloss, a duplicate is granted. In the
one case the risk is taken by the remitter
if he chooses to do so; in the other case the
department assumes the entire responsible.
ity for the transmission and payment of the
amount to q designated payce.
Postal orders are to be prime upon thin
bank-note paper, from engraved plates
with every precaution against counterfeit
ing, and are to be of such size rs 10 be con,
veniently transferred in an ordinary letter
sized envelope.
For making small rcmittances by maj
the postal order would answer tho purpose
for which fractional currency was formerly
largely used, and for which coin is moi
suitable, while Mt the same time the or
der could not be conveniently employed as
circulating medium, because it would be
issued, not, like fractional currency, for
round sums, but for all possible amount,
under So, and would be invalid if not pre-
sented for payment within three month.
from the month OF issue
am of the opinion that the Superintcnd
ents plan is entirely practicable, and wei
calculated to meet the popular demand
ana that appropriate legislation to carry
out the project would be very acceptable t,
the public,
THERE are outstanding about 81, 10000
in United States six per cent. bonds, serie
of 1880 and 1891, which have matured Th
\ 10th call matured October |, but quite
large amount of the bonds embraced therein
are still outstanding, OF the bonds en-
braced in the l05th call which natures OF
December 9th next, there are more thai
$9jOO,0O0 outstanding. These bonds arr
payable at par and accrued interest upol
presentation,
DALLAS EXCHANGE AND COIN.
Buying. Selllnl
New York Exchange. ",.,....,,. Jst9A Par@S
Sl LOUIS ....s'.,,,,,.,.,.,,,...,.
ShicuSU' .''s''s's s''''''''.s'.'.s.s,ss'
NcW orichns' ...,''s,ss,'.,'.,..,.,..,'
Galveston and Houston. ..,.......H
Commercial exchange upon all points y to
discount
Sterling sight 81 IS.
Francs b6p5 TO-
Marks %.
Gold, silver, other than trade dollars, par,
MoNipnu dnllarg 90