The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-03-18
FINANCE AND COTTON.
FINANCIAL.

NE GEORGE A. BUTLER read paper sefore the
last convention of the American Bankers asso-
citation regarding the proper basis for the ma
tlOnal banks circula ion, and as his views are
obtaining a strong hold on bankers we give the
following extract; Let the notes be issued to
the banks as now, thus preventing oyerissue;
limit the amount 70 the amount of capital, or
percentage OF it. the notes to be first lien on all
the assets of the banks, the stockholders as
now liable 70 the amount of stock held by them.
Lay a tax olCSy per cent ON the circulation as
safety tundSeut OF which the notes of inSOl-
vent banks should be redeemed in case resort TO
the other means should prove insufficient the
amount raised in this manner TO be invested in
government bonds the Interest of which
might cease thus reducing, year
of the government while 1t would constitute
fund which would in time equal the circulation
of the banks. Prohibit all notes below $40, and
establish at New York Il bureau of redemption,
and require each bank to keep at this agency say
Is per cent. of its circulation. This would form
greatceutral reserve of coin upon which u drain
might work without causing alarm. An outflow
would thus be felt by 0ll the banks of the coun-
try, giving them timely warning that the coun.
try had been overtrading and that they should
go more carefully for awhile. The prohibition
Of small notes would cause large amount of
coin to circulate, which would make q large gem
eral reserve from which the banks could draw
TO repleniSh the central reserve. To meet the
opposition TO the retirement of small notes, the
banks might issue, In addition to their regular
circulation small notes. to be wholly covered by
coin.
WHETHER We are to have another panic in the
money market and hard times or not we are
proceeding n the right way to get it. Our ri
diculous taril is unuaturally stimulating manu-.
hctures which must find their market at home
because we cannot comp etc with the manufac-
turers Of other countries, sand speculation has
inflated the prices OF our great staple products
so much as 70 decrease expectation Add to
these the building OF railroads far beyond the
present demand and the imitation of stocks
above actual values, A little panic now is II
GOOD tninS It's time to take soundings. 1t
seems that We have not yet learned
how TO handle our enormous resources. Our
exports are mostly of products which are not
protected. Meanwhile our manufacturers are
aemcned ana divided from the worlds market
by tarih which creates abnormal prices here.
should the home supply more than meet the
home demand for Steel rail, pig iron, or any
other article, there would be no way OF relief ex.
cept at loss II is delightful going up In bal.
loon. but the coming down Is perilous. We are
not looking for panic ut present, but there Is
trouble ahead.
REGARDING the foreign trade of the entire
country the New York Journal of Commerce
says; Notwithstanding the increased imports
and decreased exports in January the balance
OF trade was still in favor of this country. In
January, ISL, we shipped s2i,5ll, l6l more than
we received AT all the ports. In January, 1850,
this excess was reduced to sS,55s 500 The
excess of exports over imports for seven months
Up to February l. 1851, was 'sll7 S65, 9l7 for the
IKE seven months ending February |, 1852, only
shL3SoO39 The month of February will proba-
by show about the same excess of exports for
TIC whole country as the month of January.
me exports OF produce and merchandise will
JuSl about olise! the total imports leaving the
Shipment OF coin and bullion as the excess in
favor OF this country. lfproduce were allowed
10 decline in price the exports during the spring
months months might be large enough to keep the bal
ance on This side but with rapidly increasing
imports and reduced shipment It is n mere
question OF time when this will be reversed"
WAsHlSGToS telegram says: Numerous
petitions from New York bankers and others In
the various large cities were forwarded to Secre-
mry Folgcr to-day, asking that he anticipate
without rebate of Interest the $4,000. 100 bond
call due April s next, Several days ago the
secretary anticipated previous call of 500 900.
wv anu OF That amount only $500, 900 have been
presented Tor redemption up 10 the close of bus.
mess to-day, with the transactions at all the
sub-treasures reported by telegraph up TO the
same hour In view of this state of affairs the
secretary IS much surprised ut these requests
ket certainly cannot be suffering
when 1t Is only necessary to bring
these bonds forward to add nearly SIS. Oo1t oS
with interest to the 18th of March, to the out.
Standing circulation, and he will therefore de.
cline &c, take the action desired by the petl.
TONERS
=, THE exports. of specie from New York during
the past week were 500 i0s, principally gold
The importatons OF specie and bullion at that
port during the week ending March 10 were s5i,.
15I, consisting of eSl AL in gold and So $40 in
silver as against total of 81 90 for the week
ending March u last year, The importations
since the LIST Of January and since the LIST OF
August compare rs follows with the movement
during the corresponding period last year
Since Jan. 1" Since Aug. i
lsS2 ISL ISLE IsS0s
Gold go $50, S9O s62ss,57 s2i 922 S76 sd So Il,
silver. SN255 6iSSB 1888 100 3,llIsii
Total ;6eG6i5 sd,927. $50 s2d 2S6, lCo s77677 sos