The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-10-20
FINANCIAL AND COTTON
FINANCIAL

The London Pail Mall Gazette, IN view of the
great number of miles OF railroad constructed in
The United states during the year lS>l and tbe
Indebtedness thereby Incurred assumes thai
within one or two years there will be financial
panic in this country; and it cites as a reason
therefor in addition TO the investment of capital
In railroads the large and reckless" purh asa
by our people OF foreign goods. and the iudis.
cTiminate lending of capital, The Gazette gives
due attention TO the fact OF large Immigration
but insists that this raw population does moi for
some years add much TO the wealth ofthe conn.
Try. The Gazette declares that the sales OF our
surplus grain will not tie made at high prices
Cotton may be higher, but il assumes that No
owe England more than We dii wear ago
There VIII be panics SO long as the Void stands
and we are going on now with none too much
caution, yetlhete is no probability of an imme.
diate departure from cautiouSnesS, and 50 long
rs We hold where we are there i'll mol be much
danger of Il financial crash
demand will shortly be made upon Secretary
Folger by Mr. Alexander. OF Washington attor-
ney for one OF the states understood To be Nir.
giuial lie win demand that under the existing
law the sum OF So go eco be distributed 10 the
states that wcrcin the Union In 1885 twill be
remembered that in that year congress passed
an act directing the distribution of the surplus
revenues pro rata among the several states
These revenues amounted to s9S Geo coo Ii was
10 he PAID IN inslallments The last inStAlhnent
S0OuoOO, was never paid, Its payment was
postponed by act of congress. Mr. Alexander
III tHc utltl MHlCu ne VIII present IL support his
demand Will saw that IL is the duty OF the secre.
mry to comply with that demand because the
law directing its distribution was never repealed
IL WIS simply postponed to a date long since
past. The question OF the distribution of ths
s9OOOOO, which Mr. AltXanderis now after has
been before congress several times of late years
but II was never before claimed that there was
cNlSpng law now TO warrant its payment with.
out further legislation
The high prices OF several of the PRINCIPAL Ar
ucleS OF export together with the scarcity and
hrmneSS OF heights, are tending to check CX.
ports. Last week the total shipments of domes
uc merchandise from New York were valued at
Sa92 52i, against S. $50 9l1 for the same week
last year, when the exports were exceptionally
small, owing 10 the previous speculation in
gram At present breddstuits and provisions
are moving outward slowly, while cotton ship.
meuts are increasing and petroleum is being ex-
ported IN fair though lesSeued quantities Since
January tho total exports from New York
amount 10 e2d2 lA2,Sii, compared with Sa97 SIG e
Isl Tor the same time in 1881 aud s3lS $40 I73 in
TIE preceding year This is decrease in two
years OF 500, l6i,l 2d or Is per cent
Inc following shows the bullion output OF the
camp at Leadviile, Colorado, for third quarter of
the current year: Pounds of bullion. 1896 qgS;
pounds OF lead ~ SIS li5. ounces of silver 1874
sol 80; onnccs OF gold, 26.SSl72, value OF lead,
sNN&d So value OF silver 81 S6A75l SO: total cur
reacy value, Si6l9,Gi7 10, being the largest pro-
ducuon IN the history of this camp for any sim
liar period.
Hve-cent and oue.ccnt pieces are rapidly
growing In popularity on the Pacific coast but
treasury regulations forbid that the sub.trens.
nrer shall keep more of these coins ON hand
IMAM are required for immediate use The sup
ply must therefore be met by banks and mer'