The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-03-14
FINANCE AND COTTON.
FINANCIAL.


THE trsae .Jzar 'scommercial value has run
from $40 to CSC aud to-day II is worth about
99Ae. Its bullion value as silver Is only about
90. For while bullion dealers attempted to
pick up the trade dollar III China 10 import by
way Of England and Germany. in order TO make
profit in procuring them at bullion value
abroad, and then selling them at their CONNER
cial value, About 81, 500, 900 were probably i'm.
rom ROM the United States. During the last fiscal
year there has been only ST. 97 imported at all
The ports in the United States, showing that
they could not be obtained 1T was formerly
opposed" said Director of tho Mint Burchard,
''on the mistaken notion that these coins existed
in China We coined sS6.950 900. but being
worth more than the Mexican dollar, the Chi
nese melted them up. There were exported
sg7e0o 900 up TO October l. 1873, which would leave
about -, 100000 in this country. Some of these
have been melted in this country These
s27,Oo0OOl were exported to China under
the impression that they would
dollar, which is the usual coin in circulation
there The average weight of the Mexican dol
lar is lie grains, The Chinese were ready TO
take the trade dollars because they contained
more silver than the others, but as on every
thousand trade dollars they could make about
900 grains by melting them and selling them
rs silver instead of paying them out again, as
they did the Mexican dollar they were mostly
mcnt had similar experience with their yen
which they first coined at 40 grains TO the dol
lar paying them out ut par with the Mexican
dollars Inc Nehs, were quickly melted up,
and number were i'll circulation and the gov
eminent was compelled to reduce Its ven 10
40, when u now the weight of the japanese
YEN II Is now on par with the Mexican dol
iar anu u our government had issued the trade
dolar az fl6, IL would now probably be In circu-
lation in China, and used mostly for export.
The trade dollar was authorized in 1874, and
made legal lender IN this country for s. In
Ie3 tne legsl. lender character was repealed,
anu gp,''ins '"ereai'er limited 10 the export de-
mand
THE annual product of the silver mines of
Asia qneluding Australia, New Zealand and
sb,5OlcOO; and their total product to the present
time has amounted to sl,6SS, 900 600 India has
Dut we nave statements from Sir Roderic Muir.
ehison that the kula valley 10 so rich
Ill silver ore that IL could Yield
large product for future ages. The
silver country OF Vasours comprises the noun
famous regions between the Beas, Saint and
ralp , rivers Inc mines, though previously
worked are now almost forgotten. The same is
the case with the Manikam mines hitherto
known 10 be Intellectually rich. The annual pro-
duct OF me silver mines of Africa is estimated at
me present 'iine 10 be u ooooO' and their total
product 20 70 the present time has amounted to
s5sseOiuOO.
AN important decision Is that which ,ac,.ros
that hay is not manufactured article. several
millions of dollars worth If bay IL ;r'nostoS
from Canada every wear The rnapt leu ,eu
collected hitherto 90 nor ccnt S,,,r a. ,ba ~. is
portatlon upon the assumption that hay is
manufactured ar ucle, as the hay would Justify
auuty OF out III per cent. If II Is not an article
manufactured. During the past year eighty
suits have been brought against the collectors
NJ Plattsburg and .Ogdensburg to recover duties
paid III excess OF 10 per cent III October last In
one case the government endeavored TO show
mat nay was 4 manufactured article The Jury
i ,m, verdict against the government. A
m g OF e1gGep1ns 10 review the finding was
The bin ofeXceptons tbat the Ir us, on
In their dnding md yef,Sed - Iary Wsrs Iusuned
So hay comes In in competiiions q. new .rial
ON nayment ofs Inn, ~ nv Nun our iariherS
'. y p'' 'e''
In II general reference 4, tho :.
week, the Tribune, of that city. states that II ia
now likely that as much money will 20 ahrOad
during the next few weeks as will come out of
the treasury in redemption of bonds The i'm,
ports of foreign merchandise at the different
ports OF the country continue large. During the
last hye weeks at New York alone, they have
amounted 70 $50 2O5 sol against $50 i6l lis for the
corresponding weeks last year, while the ex.
ports from the same port In the month OK Sch.
rnary were only s25 357 S2 against $50 95s, Cgs In
me same weeks last year. An increase of Sill
10000 in imports with a define of 81 COO 600 in
exports. does not promise a very favorable re.
turn for the month. An easy money market or
even the prospect of ease, will also. doubtless
lend TO increase the foreign shipments OF gGld.
-i "a NMy J
The following changes bove hon aaa l., ,,a
regulations governnw ,he isse p snh nans IN ine
of currency and coins and the redem,,tian nf
national bank notes: United states nntl, Sii Oh
certificates and fractional notes soSa ai1' SILVER
ceeding three. fifths of their original prosoTtions
ments az Iinitod S,a,os 80 A"Nv raiuc, rag