The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-10-06
rINANsIAL AND COTTON
FINANCIAL.

,sho begged Secretary Folger TO open a
lAlsI ssn,rt and irriga,e Wall street. and who
vs'iS, S,al him for taking their ADVICE seek 10
|laA -. ~ inuressiou that the treasury mas
..'nidly atlumalatiug money, and thus
~ ms artificial Suingeney The Chicago
.,sSs in 0Ideg to produce this impression
.lss,.s,ui tue statement that the fund for the
| 1f! y',s,1 nj notes of national banks failed in
~, !,on ana reducing circulation, and the >
-s, redemption luud combined amounted,
eiN'i1 6gpre, 10 81, $40 COO the lst of sep
iS,1 To az, 00t00 on the LIST Of Septen-
Is-"sJ and to Sai 200 VQOO on the
N september, lsos, These fig
~ with the assertion that the
O. ,v holds q reserve Tor the redemption of
~ States notes lncinuel ~ tHaSe 1uuus tIle
though they were not in the treasury,
s,lneed his proof OF artificial contraction.
| IA, both The figures and the assertion with
aston the total contraction iHr the year
| WI sariamber was less thNn $40 uO0h and
S-V,sI In Two years less than go COO o. This
WA compared with the exhaustion o. S3J,-
ssrlustu the silver coinage, ana OF ~ least
| Y 00ll due 10 the importation aud production
s,ibe variation in the funds for redemption
80 notes does not by any means measure
,ercl1atious i'm the holdings of the treasury
|Sswr,ihly statements of Liabilities and assets
TSs story They show the amount of gold
NrYl bullion, OF silver dollars, OF gold and
SS,t certificates, OF United states notes,
..Jof national bank notes in the treas
=. IN Inc lst OF each month, and com
,sl.5n OF the sums of these Items Will SHOW the
s~radOns In treasury holdings OF cHecuYc
.,,nncy. No account is taken of fractional
Elsf minor coin and other items, as they do
sgWpttute partOt the effective currency Now
/. ma Isl Of september, 1850, the sum of the
sn, enumerated was, in round figures, s2ld-
NOt on the Is. OF september ISL, twas S2S.l
Nl1O and oH the lst Of september lSs2, 1t was
|WNWU These figures show an increase OF
E,N0O in the treasury holdings during the
'N@jing september l, ISL aud of Sl,49OO0UO
rfng The following year. They also snow thNl
ma ihan three lOurlhs Of the lookup occurred
6rSeplembcr loSl and that there is compar-
'ttly little to complain of since then, or during
halme when the iOudeSt complaints have been
wAe During The tlrst OF the years under
moderation the net import OF specie eN-
eelA s9NtOhOt0, the gold output from
sr mines available for monetary use was
M less than $3.50 0oO0 and the stIyer-dollar
,assc was so OO4 al Of which was availa'
M In the form either OF cuiu or certificates.
Iefs was, therefore, a total expansion of Slil,
N,0O % say nCthing of additional bank issues,
l1nsla treasury absorption OF less than SOL
0i0ll. ora net expansion OF more than $50 o.,
l0duHng the year During the last period of
Twelve monlhs we lostGbOuteL0 O,COOof gold by
typoriaiiOn but the productof The mines was
mol less than s3oOOQ,OO0, SO that there must have
been aneincrease of at least $50 0OO0 coo in gold,
To ibis add the silyer-dOliar coinage of t27, GOO,
40 anil we have an expansion OF $4,000, 900
gansi treasury lookup OF less than Sis, OuO, 900
Il a net expansion OF at least $4,000, 900.
il the whole, It does not look as though Wall
meet troubles were due 10 boarding by the
,sasnry.