The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-11-02
rylNCIAL AND COTTON
FINANCIAL.
FINANCIAL.

Tkan
fss Oal.S.s.. nsymeuts says: Only about four
tpdsp,bs woods were vocal with dismal
~, ~ shout disastrous consequences which
kaalss ~ follow the resumption of specie
M su.V one of the most appalling cOnse.
p srpreheuded was contraction The
Ssll..nsGk of fiat inaaiion wolves were rolling
Iaec of that word over the ends of their
g. IN way TO MAKE S9ale people shlver.
" .a.ur1p.ou came DID oontr-r-r-acion
w. ,tbe following comparative statement
~ i.,rlstlon on the LIST of January. 1879,
~. y. M n, sumption, and on the LIST Of Oeto-
-, answer The question;
LANDER notes Si6,6SL9l6 s Si6,tSl,Ol6
tsfnsl bauk notes.. S62Wlh65j 23l9L67t
"a soin and bullion 1S65l, 10y 20 $40 l26
ss,,.s,,c5iu an bullion 29.95S, 1856 l0d,37SSOS
1 ....... 81. Isl S4S, 2S7 StO55, S56,6l9
!!tss stsiemeuL which has been prepared by
. HIrsetor Of the mint, shows an Increase OF no
" ,s,n si.7 N00O in less than four years.
y \, ;ac-ea,e from January I, 1879, to November
En- vas Sll0210 o. during the following
...ige mouths IL was slSL2 OOOS during the
lestNrelye months, Sl52,9OOO and fgom No
RsAi,srl ISL. 10 October l. lSS2, s27, 100 600
=. ssin for the past eleven months has been
J, nan for any like period since resumption.
~ diminished Increase Is said by some writer's
~ orjnp to the fact that 'the balance of trade
Z. iprnea against us But comparison of
~ Srsign trade statistics with the increment
IIlrnlatnc medium will show that there is no
r.sssSsnt connection between the two During
" Eve fiscal years ended June 80. 1881, the
.s,hGulisc exports exceeded the merchandise
i.Snorts by 81, lSlt00,000, but the currency
i-.s.snent was only about i0000,t00, During
ssio,t twelve months the me rchandise imports
'-,.ssted the merchandise exports, and yet
ssfe was an increase IN the volume of circula-
I'M 10 the above amount stated. The victims of
sSabalance -Of-rade' deluslon persist ii putting
Sscar, before the horse Since resumption the
sS,sase in the volume OF the medium of ex-
S,ege, accompanied by an expansion of credits
s,,i91ated prices until the natural trade Goa
,iiye has come In, and we are importing more
s,,shandise aud less specie, We have Import
4 me latter until we have enough, If not too
Tp,h and the natural laws of trade have check
She inflow IL is the excessive supply OF cur
srry Including gold and silver, that has
lt,asil the increased importation of merchan-
AL rather than the increased importation OF
rychandse that has caused the recent outflow
dIecie
Tbe attention OF both the paper and the silver
fists Is invited to the significant fact that of
Nd total increase of circulation since resump-
5n e. per cent has been gol', only
4 per cent silver in spite Of the
SsId coinage of about S270OGO,O wear,
Eig p1CeuL paper ms Mpu'u scenl W PoItll
r,nstakably to the conclusion that the only
phon of the circulating medium which IS by
utlfe really elastic is that which forms the
MS Of the whole fabric namely, in this coun-
n gold
me director Of the mint estimates the circu-
gOn Of thirty -four counties, embracing nearly
llhe civilized world, China excepted, it would
Mn, at 81, 100 G63,G6l The proportions of gold,
amr and paper, us compared with estimates
3, hiry.one countries submitted two years
40 are as follows: