The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-11-16
AND COTTON
FINANCIAL

ropdon Saturday Review says In the
lh,.,e while the amount OF Il rst- class Seeuri-
$50 been steadily decreasing, the wealth
sssenuaticn of the world have been sieaGily
rsP!.Ipr In the United Kingdom, the United
ard 10 a less extent in the PRINCIPAL
SO, -. I'm IN Europe, wealth has been gruwmg
W.. w, he past generation at an unprecedent.
~sesnid rate Il is estimated by high authori
Eh.f between 1865 and 1875 the growth of
nsiL In Inc United Kingdom was at the rate
I'm OOo O0j year, aud probably the rate In
Tnitsd States was not much less. Even
h Stree ISIS has s,ackened, there
w no doubt at all that the accumulation of
s.s.Sh has continued at very rapid rate not
~ hsre al home, but in all the more advanced
sy,-ias of the world. And some portion of
%ssnnually saved wealth must have been in.
sS,ssi In stock exchange securities. The larger
w M Doubt went to extend business; to I'M.
..re lani, to build houses; to construct public
~ and so on; but some portion Of II was in
,..,sd in stock exchange securities. And the
,ssJy investment of new wealth year after
~ has had great effect upon the prices of
s~dhes While, as we hava seen above.
Ss,s has been great diminution in the debts
Tibe United States and of the United King
sn there has been in another way
Z The richer countries. owing 10
4, sccumuation of wealth in the poorer ones.
ss.,eS SflnP't the DEBT Of I tsY o Wels
s'dy abroad, and more particularly in
p,sce. II is said however, that the
Togih Of wealth in Italy Of late years has been
IN that the Italian people have been able to
M from foreigners large portion of the ltal.
Shnds held abroad, This has had the nee.
Nay effect Of diminishing the supply of soeu-
T5s in England, France and Holland, where
| Selsan bonds were chiefly held And, in II
| Z, degree the growth Of wealth in other back.
nj countries has beon acting ia the same way.
I'M country invests by preference in its own
purtes, aud rs the wealth of each country in
rSSes, the supply OF foreign bonds in the more
ISnced countries diminisheS. Thus the perma-
M tendency is toward rise in the prices of safe
MI exchange securities. This tendency must
Mnnlly continue to gain force, though It NAV
etheeked every now and then, until, from
nne source or other, there is large creation of
nv frst.class securities. A war; tor example.
evolving several great European countries
| Ipsl lead to large loans-that is. to the crea-
M Of new stock exchange securities of the
| irelsSs-and would thus tend to lower prices:
Tsla the destruction Of wealth by the war
Trd lessen the growth of wealth and would
lNbsye tendency to lower prices.
| fHE New York Commercial Bulletin estimates
sare losses in this country and Canada last
| Ruth at Sc 900, 600. As compared with the cor
M2lHdiHg month IN previous years the figures
rs follows October, 1881, sll, 76O 900; 1881
tM,lOe 1879, 47 $780, 1878, sG,97i,4 0; 1,7z
hin7O0, Calling the loss in October, this wear,
kGGt0O the average of the Oc-
iiH FIRE vastage for the past
| IL years Is $1,000 o. From this showing,
EnOnth proved TO be much more favorable
kihe underwriters than the average October
glsle years. The Bulletin says; Up 10 the
ma az Spntnmb her ptir estimate for IA Il % -,