The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-03-16
FINANCE AND COTTON
FINANCIAL.


GOLD has for some time been leaving our
shores, Il promises 10 be the beginning OF q
mighty drain which may throw the business of
the country into confusion Manufacturing
mas been oyerdone, for the railroad constructing
and house building all over the country have
not only changed floating into fixed capital, but
have diminished the agricultural population,
who are the natural consumers OF manufactured
Z >sods No matter how favorable the season.
I mere will probably be a smaller surplus of grain
: and cotton than was available for export during
the. IeSt three years me discipline
check has already been given to excessive rail
mad and house building. Manufactures are be-
ginning 10 run on short time and TO discharge
some al their workmen, and the result will be to
check the growth of the cities and to force people
back upon the soil 10 make living. This suf-
feriug might be avoided if congress could be in
duced To modify our trade killing tariff; but the
country is not prepared to adopt any policy
which will give us chance in the markets of
the world with anything but the productions of
the soil,
APARls dispatch of late date says. In order
TO keep down excessive BouTse speculations,
the Bank OF Fance charges per cent more than
its bank rate uow per cent? for loans pre-
dictated on stocks as u collateral. During the
last twelve months such has been he augmen.
taton in the deposits in the Bank of France,
that they have increased lin United States
money from $1,000 900 TO 500 OOO0ol part of
sons prefer leaving their money without interest
at the Bank of France, toleOying it at other
banks which pay interest on deposits. The
shares of the Bank of France are now salable at
5,l00 each, being decline of l2k per cent on
the par value of 1000 francs. durng the week
There have been some small exports Of gold To
England, and by latest cables from Paris TO New
York the rate of exchange at Paris on London is
at such premium as TO Justify gold shipments
10 London, provided gold of full weight could be
had without any premium. The bank of France
now holds of gold about one third of her circula.
ton, viz: On United States money! gold sl6j co.,
600 to $4,000 i0OJ of circulation.
THE latest adyices from London state that gold
is coming constantly from America and easing
the money marketof Europe, and the exchanges
at all the important centers of the continent as
well es at New York, are in favor of London.
The sl2 OO,00O gold which London exported to
Parlsa rev weaks ago is being replaced by ar.
rivals OF geld from New York.
THE New York Post thinks tho existing reac.
uonary tendency of all speculative enterprises
ana the steady liquidation which is going ON in
the same are likely 10 save the country from n
grand collapse, aud at least in this respect Is the
situation favorable for mercantile interests aud
me borrowers of money for other than spcCu-
lahyc purposes Since last June, says the Post
the stock exchange has been. so TO speak
steadily letting oil steam, and the boiler is no
longer at the bursting point Every enterprise
which Is substantial aud sound viii in the long
months and II eau reasonably be expected that
what is called the era OF prosperity will be pro-
longed 10y the liquidation which We have had of
pure speculation
THERE are $4,000 900 Of grecnbacks and S}Gl,
900, 00J OF national bank notes in all Sos O01OOi
convertible practically in gold on Demand If
we continue 10 export gold In any large duanti.
ties, will not the time come when n demand will
be made on the treasury yor far more of thoyel-
low metal than II has at Its command!
ABILL has been introduced into the territorial
house OF representatives of Utah, providing
that the managers and supcrntcndcnts of all
mines, and all reducing and refining works and
that are engaged IN mining or in the reduction
or refining of gold, silver, copper. anthony, er
other precious metals, shall, upon the last
day OF the month or within ten days
thereafter make returns to the auditor,
and pay over to the treasurer of the territory
one-half of per cent OF the nctvalue of the ore
produced at the mines or Of the bullion shipped
TO any point outside of the territory. The mem.
berwho introduced the bill called attention to the
fact that the total revenue Of the territory is but
s'@WO the courts requiring $4,000 of this the
university wants s6o,' 10, the insane asylum $50
OlO, and various other meritori0us enterprises
requiring several thousand more.
A QUARTER of a century will elapse before the
funded debt can be eXiingulshed,in accordance
with The terms Of the original contract with the
hondho!ders, The last installment of the ma
payable in 1907 IL bears interest ut per cent.
~ coin, and the principal of II Is S73S, T6s, $50
This Is nearly one-half of the whole interest
bearing debt Of the United States
THE importatioas merchandise at New York
during the past week were unusually heavy,
their total amounting to slnsS7,3G6 This was
due TO large imports of dry goods valued at
sli35, 029 usual Mt this season, aud to the free
arrivals of coffee and sugar cargoes, which
amounted TO s., Al, 1877 In value: these two sums
alone forming over oneh of the weeks total
since January LIST the merchandise imports At
New York aggregate ~, S5l,S2i, against So.
362,NS for the corresponding period Of last year
an Increase In three weeks of ST. $50 $50 The
specie imports are very light being but s27, a2O
for the week compared with 81, 7gS, 9A for the
same week In 1881; and the total since the be.
ginning Of the year is only s2s7, l6O against 81.
Oslo for like period OF 1881. The export
movement ofspccie Is fair and OF ordinary pro.
portions.
DALLAS EXCHANGE AND COIN.
:, Buying, Selling. Buying. Selling
n. Y. TX. hGtPar6Ds St Louis, AcDxPart1E
Chicago h@spar@I n. o.. .Has PareDA
Galveston Par@A Houston..h Par09A
Exchange, all points Y TO X discount Sterling
sight 81 IS Francs, 56S5 10 Marks, IS
Trade dollars. .eocts, Mexican dollars. scot
Mexican halves. .aOcts. Mexican Quarters .lbcts
-