The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-01-05
FINANCIAL.

THE financial articles of the Chicago
Times are among the ablest and best digest
ed which appear in any of the papers IN the
country. and their editor certainly is
familiar with the money wants Of COM
merce, and understands the financial prob
lem fully and clearly. and his articles all
disclose an intimate knowledge of subJect
which can only be acquired by long expert
ence and close observation. But 1t seems
even the Times man gets little astray once
in while, If the following article, which Is
going the rounds of the Greenback papers,
and attributed to the Times, expresses his
views:
Money is n value created by law. Its
basis is legal, not material IL makes no
difference of what material money is com
posed, whether it be costly or otherwise;
the law of legal tender gives value to
money
viii the Times assert that the issuance
Of greenbacks to the full amount oil
the government Indebtedness, if they
are given legal tender value, would sub
serve all the purposes of gold and silver,
and that they would answer all CONNER
cial transactions equally rs well as the pre-
olous metals? Would they not here q. home,
in tho face Of any legal enactment by Con,
gress fall below the value OF the gold and
silver coinage Of the country? VIII the
Times give reasons for the faith that IS
in it?
THE grsyth Of Colorado during the past
year is unprecedented in its history. In
Denver alone over 81 900, 900 were expended
In the construction of new buildings, and
the total assessed valuation of the city Is
S25,610,OOO, an increase in the past year OF
S9,460000, and the Auditors records show
an assessed valuation of the entire State of
S6,oj9,0 900, an increase of $23000,00O over
that Of 1880 The lowest figure on
the bullion output of the State for the
past year places il ut S2o,200,000
Sll 10000 The total Indebtedness OF the
State is $4,000. II il safe to say there
will not be over 100000 outstanding war
rants year hence, as the receipts from the
counties will amount TO $3Ou,OO0 ~ least
during the next nine months. over 5000
0N have been spent in this State in railway
construction the past year.
THE total number of business failures for
the entire year 1881 throughout the United
States, is stated TO be 5,552, involving liabil-
tiles Of slightly over SSl 100000. ihe fail
ures for the year previous wee only 1 Z 5,
with liabilities OF pGJ,000,010. Compared
with 1873, the showing Is strongly to the
advantage of the year just closed the fail
ures IN that year being l0,A00, and liabilities
$23A,UOO,OeO. In the year 1851 only one per-
son in every 10 engaged in business failed
while in 1850 the proportion was one IN
every l5S, in 1879 one in every l05, and III
1873 one in every O..
Tho volume of business in Chicago in
ISIS was represented by n money value Of
B5O,UOO,0OO, in 1870 by Si65, 900 900, and IN
1880 by about $500 100000, and for the year
1881, sl,045, 100000.
Slaus Sprecklcs and others have filed in
California articles OF incorporation Of the
Oceanic Steamship Company, with a CAPT.
tal stock OF S2,aO,000, which proposes to
conduct . general passenger and freight
business between San Francisco and Hon
olulu.
The collections of Internal Revenue in
the first district of Illinois for the year
1881 amounted to $i9,62i, 206.S3. In 1880
they were s9,2i3,5S9.53.
The Clearing House exchange, of Kansas
City, during the past year, amounted to
Sl3jWO,0OO, an increase of S3j 000, 900 over
the previous year.
The semiannual dividends aud interest to
be paid in Philadelphia, in January, are
estimated ut. SO, 0o0, 900 The city itself pays
5000 900
The receipts from all sources Of the Mary
iahu penlteltlary last year were 500 lit, cS-
penscs s65, no.
The total earnings of the Milwaukee
SheriVS silice for 1881 were SiS2S0.3l
During tho year i6O prisoners were COM
nittcd to jail, and u to the prison at
Waupen.
On the last sale day at Huntsville, Ala,
bama, land sold at an average Of seventy
cents per acre.
Senator Plumb has introduced bill to
appropriate 81 ,0Oo, 900 for the improvement
OF Galveston Harber.