The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-06-16
NANCE AND COTTON
FINANIAL.


a., mines of Utah are making record this
~ which will surprise the expectations Of
aost sanguine miner-twelve millions In
Z, bullion taken from the hills In twelve short
s 1sa london Economist says: Considering
iisSoommercial position of Liverpool, the extent
I'm ,rsde, and the enterprise ofits people, It Is
aoly astonishing that the pracuee OF payments
aSeeks which prevails in other industrial
.,s,s Is not yet in general operation there.
asrSness is at present conducted large sums
w IA he passed from baud TO hand, with all
a,lsk trouble and expense incidental TO 50
saouated mode.
ms monograph issued by the census office
amount OF capital in manufacturing in
Ls,tr of the principal cities is as follows:
s'Snore, sS5,76o los; Boston, $40, $50 1884,
SscElyn, S5662lS99 Buffalo, ga, is, 562
~Ssso s6ll77,S35; Cincinnati, Si3 27S,-
v cleveland, slS1Si,7S9; Detroit sli,-
40 Jersey City, sll, 3299l5; Louisville, sl9,-
Tina Milwaukee, sl8,Sll. l05 Newark, s2s,9l9,-
v Philadelphia. sl7G495 l9l; Pittsburg. s5O976,-
y prDydence, SIS, 573, 932; san Francisco, SO,
sgiS ST. Louis, ai5,3S5 7S5; Washington. s5.-
s5Ie commissioner of pensions asks the appro-
,.aion of 81 l97. 600 for clerk hire. with which
i"MInt he proposes TO finish every claim within
~ years. The government has already paid
XII s5OO, 600 900 for pensions to soldiers of the
NJ war and the amounts required for some
m to come will be greater than the interest
| nAe public debt
rus Financial Chronicle and the Wall street
yus. Two recognized authorities In the financial
smh seem to have looked Mt the situation in
~drey different lights, heretofore. The
Epnicle gives as its present opinion the follow
srhe inclination In speculative circles Is TO
I AMI that renewed activity and prosperity are
,AoIy dependent upon the next harvest An
Ilandant production In every department of ag-
to,ure would be powerful and wholesome
flnence, and might possibly hold in allegiance
| Nh that are now working in our financial sys-
VI, but If it did, ii would only be to make those
| mi less manageable and more harmful lntor
n For a look at the present commercial situa-
| IN pruyes that some adverse influence Is AT
mn besides poor crops, since the conditions are
sculIar and conflicting. " In the first place
rpNantile business is greatly depressed. (2) Pro-
friOn Of goods is Improbable. (3) Laboris dis
hbed and striking everywhere (D Our import
Ade continues simply enormous. (5) General
,rees are high. Certainly last years bad crops
nnnot explain all this. Have bad crops made
OlrmpoTts so large? Have bad crops made
rnces of articles other than food and cotton
hgh! These are questions worth thought
and are having decided influence among those
Who know the disturbing power Of a vicious cur.
nncy
Commenting on the above the Wall Street
News views the subject almost In the same light
bit with the pride ola vindicated prophet says
"Ihe remark which Is one naturally inclined
b make In reference to the above Is that the
Chronicles hindsight Is great deal bet.
er than It's foresight 1t is only lately
hat the Chronicle was able to see
that the failure of the crops would have seri'
Gus effect or more correctly, that there had
been enough of a failure to cause an important
disturbance In the commercial and industrial
conditions of the country. If there are other ad.
verse causes at work, as intimated above, aggra-
vaing the evils of crop shortage, they are
such as were us actively at work six months ago
SNOW when the Chronicle was unable to see
any threatening signs on the financial horizon.
We agree with our contemporary that the ex-
pelalon INDUCED In by 70 many people, that
speculative activity will be renewed as soon a.
We know that the next harvest is to be good
one IL doomed to disappointment, But this Is
mainly because great causes takea longer time
b work out their full effects than the eagerness
d speculation generally allows for. Last year 5
rop failure has brought greater disturbances OF
| raleth even we had looked for; but 1t took
nearly ayear to do it. because Of the very large
reserve remaining from previous years of pros.
pery, which had TO be used up before the pinch
vas felt SO the extensive injuries done by the
labor strikes and other disturbances will require
much longer time for their repair than be.
tween now and the gathering of the next har
rest
DALLAS EXCHANGE AND COIN.
Y Buying. Selling. Buying Selling
Chlc. Elk. h@kpar@S St Louis li@h Par@ \
Cnicago. :. h@%par@H N. .k@SpartGA
Exchange, all points x tox discount Sterling
|flglt "a N Eraupl hEtE IN Marks