The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-06-06
NANCE AND COTTON.
FINANCIAL.

"a, democratic candidate for governor Of
81, Iohn W, Bookwalter, recently gave
~ r.,,eranoe TO his views on the business
.;ssn' and put I matter SO clearly and sue
lt'.,t of his remarks, He said:
M Years, beginning with 1879, a series of
y. which may not happen again In q cen.
~omhined 10 produce prosperity unex-
I'M IN the history of any nation. First
r'ts.Tyelous crops In this country; second
~ops in Europe ialied, ana thlrd while our
~ ~ secured the advantage of cheap labor
fgssstsrial they sold in the ready market at
rchest prices. Transportation of
CEREALS gave marvellous de-
E.rent 10 railroad enterprises.
Vim i've years 1900 miles, or nearly one.
Y ofthe railroad mileage in the country, has
" saaed 10 our system. This wonderful de-
= , suT sent stocks up and led to wild specu-
w. lnaddiuOn to buyingour grain, Europe
.9.d In our stocks which promised such
,s,nrns. The iron business responded TO
abroad development; the farmer not only
tbs debts with his wonderful crops, but he
hi ~ "a bny Injuries This Is the boom and
ss;n S swept onward in one grand tide, un-
lSs5ml and Ignorant of the fact that II could
" hs sustained while the causes existed. Now
y ane cause has failed TO operate and we
slready suffering. Europe has ceased 10
y nm gain because they don't need it. and
..Sse III too high priced. What is the re.
MT earning dividends. Stocks are down and
4, rates of interest are up. Men
Ia already ceased TO handle money
DO business because there Is no
.,sra sure profit and because II is not safe 10
r.sed on money market with increasing
~ How can big crop bring prosperity un-
Z 80 can find market2 Europe has already
~ned to buy cheaper grains In other markets.
,rprOspects for good crop are as bright as
rs Who, then, is going to buy our grain? III
,ean't sell our crops we cant eat them, and
!, o,er stimulated Industry must come 10 a
noi.stlll. | foresaw In December, owing To
4 price of grain, that the balance of trade
nd soon be against US, and predicted the ex-
saof i50OO0,U00 OF gold this year; $50 OUO, 600
\, been shipped in four months | saw By a
,,iline In the Cincinnati Enquirer but day
Two since, that the enormous amount of
tiNlO0 went out in a single day from New
ck. Why, at this fearful rate, what will be
Y drain at the end of the year. Formerly we
IA wheat. II we were sending Sl50O.OjO in
nestnOw instead of gold 1t would take two of
thrgest vessels whole year to carry IT, and
M employment to our railroads to carry IL 10
\. ;eebOard. Forty Nanderbilts cannot sustain
Il prices Of stocks In the face of natural causes
ne failure of Vanderbilt TO sustain Lake Shore
luoustrated this beyond doub.. American
ilOad securities received hard blow when
lake Shore tumbled eighteen points in Il week
Irelgn investors reasoned that If II stock be-
s.lg to the Nanderbilts could prove SO uusta.
h what might not happen TO others?
year ago the iron manuiae.
rrrs announced that they were crowded
I'm orders for six months ahead. For
iyar have been buying iron for my works by
| be month, and shall continue to do so. Rail
mad building has almost ceased, aud, as a con
sequence, one of the best and largest markets
| ht iron supplies has closed. In the last six
mouths large supplies of iron, in all grades, have
been aecumu ated at the furnaces and mills be.
aIse Il cannot find market. All wise bust.
ss, men are getting ready for strain and are
YDylding for emergencies.
THG following are our imports and exports for
Aetweye months ending April 80, in 1881 and
49,