The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-03-21
FINANCE AND COTTON.
FINANCIAL.

ElNANNiAL
.,.,s,v.rIGRr per cent OF me population
sKvtts s limited States, or 39,001ooo, are
OF uN moi engagQ in manufactures
roesumsls o. per cent, ror lilo 0g0 all told.
snd oiN M IN manufactures. This includes
sre ens,sess of the operatives. Now, of this -
De an not more than per cent get the i'm
~ ~ nrofit from manufactures, and these I'M
nelse bonnses because the operatives have TO
~ they consume the heeessarles ~ ne, upon
E ys,b M tariff duties are imposed, like other
tasn 80 And. although nominally they may
A1~vn.'sving good wages, yet their wages are
s " en, ~ their pockets by the enormous du-
aIen v.1sed npon their clothing and the necessa.
4soG M. The capitalists who own the manufac.
~ are the only beneiiciaries under the tarif.
~, are pockeung an annual proiit OF ~ TO 60
NM IN common with the farmers of the coun-
y" Why should a. 900 900 people be taxed I'M
" ,ho tariff laws for the benefit of capitalists
1a,s 20 proprr to run manufactures that are
,Ir 5eyeloped and competent to sustain them
5rssiu fair competition with Europe, especially
sa"n ihey have the ocean between them, across
AN most of the raw material has TO 60 and
ssn IA come back, after il is manufactured, be-
~ 4 Fan be offered for sale here2 The manu-
.srrers have no moral or equitable right to
Inn bountieS or bonuses from farmers, mer-
fsSts LAWYERS, doctors, mechanics and laborers
psnrieh lheh'
ny Financial Chronicle complains that this
,rnlry still has an aggregate supply of gold.
snding the invisible stock, very. much less
Ssa either France or England. while with 4
srntry 50 large, and population so scattered,
" noilire more, and can and will secure more,
%lsssWe continue TO repel it. "Our silver coin.
M lay, continues the Chronicle, sis cunning
srIce, possessing just that repelling force,
1mgh oil course not so intended. 1t Is an In
rrlrlent for furnishing cheap substitute, and
NM, in part satisfying the need for gold; and
N facts as to silver coinage and certificates
,vtei above measure the effort of this unna-
rml law of congress during the last three years
pkeep gold out of the country and to force sill.
M and its representatives into its place,
InughOut the entire country the people them.
dives hold only about S225, coo, 900 of gold
nj perhaps less. We are accustomed
B look at our large visible supply
udelpress satisfaction because IL compares so
hrOnbly with the holdings of the banks of
ngland and France. But those countries have.
Siies. very large invisible reserves. England
supposed TO possess in this way about $780,.
Ml6lin active circulation, and France about
100000 Observe how the Bank of France Is
yR drawing gold from this source through the
tslvers of taxes, and thus replenishing It's
diminished holdings. 1t took this same course
NO. ullu lllt lllill int
| n possessed such abundant supplies has pre-
taled loss of confidence, while the visible sup
| II was so rapidly decreasing. In similar
ptlOn our monetary affairs would be seriously
lgnrbed, If not thrown into confusion. Our
= mole currency fabric is built upon our visible
| Mply of gold, being almost wholly paper with
tnexception If only Il portion of this base of
|Dport was withdrawn il would make the
IhOle fabric tOtter. This is the explanation for
! as great sensitiveness our markets have several
ties shown under the fear of such pos
Inliiy-notably in the winter and spring of
| NsN. What the country needs, If Its currency
| Ia be put into thoroughly conservative posi-.
a Is NJ least 900 600 Oh or $500 OU0 00) more OF
oil to be drawn from the old Accommodations of
hNpe that, with our production constantly re-
tned, would give us n consciousness of
csngth, in place of the sensitiyeness which is
Nv felt At every upward turn Of the foreign ex-
|aAlges,"
The imports at New York from foreign ports
hthe last month have been larger than for any
NyiOus February. The largest previous total
Elhe same month was In 1850, and that in
tHded nearly Sl,0tO,C00 in specie, s, that the
|almerchandise landed in February, 1882, is
100 O0i in excess of the February total in any
Inner year The total exports from that port
February show falling of in produce, man
lectures and merchandise Of s., SOC, 900 as com
lled with the same month of last year but the
Fede shipments have been larger than for any
MyiOus February.
The returns for the first two months OF the
Aendar year show an increase In the totals of
VIII exports and imports. The gain over laSi
lnfil exports is found 10 be wholly In specie
ae shipments of merchandise alone falling
aaily S,O0O00O behind Including the ''in-
nnst' trade, the total importations reach the
EpQsing total OF SS3,S19Si2, all but some $780,
not which represents merchandise. OF this
mount s5s, SIS, 603 was dutiable. The value of
ltable merchandise placed upon the market
aoe up sec, SOC, upon which the duties were
sAsi2,5 1863, or about iia per cent
Tue assessment roll of San Francisco has
Ven completed for the fiscal year commencing
4 the first Monday In April next, and
BOWS the following valuation: Value
land, sS2S5200; Improvements,
S6S95G improvements assessed to others
-n owners of real estate, Sl3,125 mort.
aes SLABS, 1850; personal property, s29isb75.
iAl, sl0,926,2u0. The valuations In 1881 were:
IND sS,295, 5e5. improvements, Sigh, SSj; i'm.
Elements assessed TO others than owners OF
Mestate, sll,SJ0; mortgages. sl.5il, 1856 per
ll property, S39S, 400. Total, sil,sGs'lOO.
ss shows n decrease of s94i, 900 fer the year
pm be observed, is in the item of personal prop.
w and Is owing TO the different method OF
tsessing savings banks and stocks, In accord.
nee with the statute of last year.
TnE following securities have been placed on
~ list OF the New York stock exchange.
Houston IL Texas Central, $500, 600 additional
ssneral mortgage per cent bonds, issued IN
lAee OF an equal amount of bonds retired
Texas 4 Pacific, s52S,000 additional first mort.
age bonds on Rio Grandc division.
International II Great Northern, $50, 600 add.
sonal irstmOrtgagc 6per cent bonds, and ssh, OOC
percent coupon mortgage bonds, issued on an
Ndluonal ~ miles of completed road.
houston, East & West Texas. s762. 900 first
.oigage per cent bonds, due May |, ls9S,
',led on eastern division.
Denver y Rio Grandc, 81, 2i2, 500 additional
y 6Ilsoldated first mortgage per cent. bonds oi
wv each, and s375, 900 OF $500 each, issued for
eVerments on iO7 miles Of road.
DALLAS EXCHANGE AND COIN.
y =, buying. Selling BUYING Selling
n ~ I, XIX. k@SpM@S St Louis tsCalPar@A
ssa,tago h@aPar@A N. o.. h@A ParC0A
'ssyeston y Par@A Houston..h parteh
s,laacnanle, all points y to \ discount. Sterling
Sal y, Francs, SOS 10. Marks, IS
sade dollars. Scots, Mexican dollars. scots
''A'can halves. .aocts. Mexican quarters i5cts