The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-11-25
i,NCIAL AND COTTON
FINANCIAL

-. amended is from the London
n The Economists preliminary r--
rsap hased on misiuf',rmsIion obtained
sstr,minent journal In New York, but It's
<p,' are interesting AS presenting the
,sfaasS ne leading financial Journal OF
~ ana of the United States Is coming in
iSnNsssni1ity as to embarrass the treasury,
ts1h 30, 20 should say, so rapidly as 10 make
SCI az AT present managed, and embar-
z.sus restraint 10 business In the ten
~ from the LIST to the 18th OF this
~ w. rseeipts, exclusive of deposits for
% m,taralcs, amounted to "a, 10000. as
NJ with 81 $50, 600 in the corresponding
fNs,SSl the payments in the two periods
y 20 -lO COO and fS,750,t0h respectively
"symeuts for this year ere Included not
asp"'',tinary government eSpenditu hp'
lsssr,nl,1t paid out in redemption OF ell
w ~ vet in spite Of these excepuuAat
~, , S the receipts larse'y exceeded the
~ md money ace N .-~lvd al the treas
" ggha effect of such un accumulation is of
=. diminish the outside supplies, and
~ sShten the money market JuStat pres.
sV,sadepcy in this direction is cOunteracted
~ intluencies, but at time wien the
ss;s from other canses, disposed 10 strin-
ne operations Of the treasury are apt to
f,1itr Inc strain. A few weeks ago, for iR-
-.
psS tbreatene disturbance Of the market
" r.sort 10 the eXpedient Of Offering 10 re-
atthont rebate of interest 1900, 900 of
cant bonds; and even tnls device for
Eg'inS The treasury fGnds has as already
islau ee,oyed only partially effective Nor is
VA tbat money is locAed up, What is pos
M eyen worse is, that the extent and dura-
Y Al Inc lookup is, TO II large ext mt. de.
mi an the will OF one man. The secretary
| ths tressury has II discretionary power to call
-S,,in from ealing in bonds for redemption,
| A Inns TO release or keep in hand the gov
IAN, balances. UnOn his action 1t thus often
~ wht Their there is to be an easy or II
| s.Srsnt money market; and, rs no one can say
ss@sband what action he may take, his power
mo market Introduces into business fresh
i.,ort of uueel tainty 1t is inevitable. also,
y, ina mower given to him will at times be
,sssly usfd not willingly, but because all men
,sp mistakes, and the liability TO err is all the
nIer when man with no special training for
work is made t. NEEDLE with structure OF
IN eytr me iHtriCacy and delicacy as that OF
Y nancy market. From all points Of view,
p5le the present system of dealing
N the iupdS of the United States treasury is q
niona ami Il strong desire for the institution
Come better method Is now being expressed,
nkpgcested that the funds of the treasury,
an me exception of the stock of gold to be held
a, reserve for the government circulation
fSild be deposited with the national banks,
-gS our treasury funds are deposited with
n Rank of England, and no doubt the adop-
v1 Of this plan would be great Improvement.
ABE really effective, however. ii should be ac-
Tnpsned by reduction Of taxation, for as
lwg as the government continues TO exact a
Usnue from 600, O 600 80 600 600, coo in excess
Il rs ordinary expenditures, Its operations
su,, prove source of disturbance to business
THg Post says: "0f the hGlf-dozen important
EecustOrs who have been ut work on The
Sssr side and who trade in from ten to thirty
eOussud shares EACH not one of them yet adj
nls be has changed his position, although 1t Is
rnortd that two of them have been quietly
wing while encouraging others to sell. There
/ no pool among them, and 1t would not be
range II the rumors which are current should
rove true These Spectators are together an
iciye force in the market, and, with the gene
NJ temper of the stock exchange bearish, are no
nesns adversaries There are signs of the be.
inning Of outside buying, and If capitalists and
NCuators keep to the market strong for a few
liys outside orders would undoubtedly in
Nsse