The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1882-11-09
FINANCIAL.

Az experienced stock broker on being re.
Gently asked what proportion of the business Of
the stock exchange was It's legitimate business
of furnishing market Tor Investment IN secuil-
ties answered that an estimate of 10000 shares
a DAY would undoubtedly be eSlraYHgant,
whereas the average business is ordinarily from
100000 to SEQ, 900 shares daily the bulk OF whlch
is done on margins such transactions amount
ing In the course OF year TO hundleds OF mil,
lions of dollars. The margin may be wiped out
or accumulated, according as stocks go up or
down, but in either case the broker shaves OIL
his commission at each end of the transaction.
Buying and selling on margins, when no stock
iy handled or held aud no values are trans
ferred, is betting and gambling. pure aud sim
pie pnd from the magnitude of the business
tole lly correct idea may be formed as TO the
extent to which greed, credulity and the pas
sion to get rich without exertion have come TO
dominate our people. Even ordinary wisdom
sf ould warn the adventurous OIL such danger
Gus ground. In ethics truth may be derived
from fici on, but in the hard-headed business
world nothing of the kind is possible You can
not postulate nothing and derive something
from 1t IN the business world Ana yet those
who dabble in stocks on margins refuse to be
taught by past experience or present warning.
The commerce and industries of Mexico are
increasing very materially. In the wear 1879,
and for some years previous, the revenues of
the Mex lean government were about Sl9.0 0Oo.
In 1850 they rose to SD 600 600 in 1881 TO S23 OOO
900, and in 1882 TO S27 coo. There is no known
cause to- attribute this increase to except 10 the
eign capital have been invested railroads, but
a greater increase of property arises from the
value given to land previously SO remote from;
market that only a nominal price was attached
to il. The government of Mexico, like our cNn,
collects its tax indirectly, but the greater ebility
of the people to purchase the comforts and lux
uries of life adds at once to the government rev.
enues An increase of nearly 40 per celt in reve-
nue. in the short space of three year, indicates
vitality in the people of that conhty their re-
cent history had not led us to eyi,ect The tur-
bulent period of our sister republic is now APP,
parently over. The increase of wealth viii
serve as a bond for security. The .preponder-
ating influences are now on the side OF order
and good government. Under these improved
conditions the country may be expected 10 rise
rapidly in the scale of nations.
The London Economist OF October Il has the
following concerning the money market The
possibility of withdrawal of gold for New York
is thought less likely now than 1t was q few
weeks since. The immediate position indicates
p balance of Indebtedness from the United
.at.s to Europe TO cover this Indebtedness
bills we're, as we have more than once men
iuae,. drawn forward from America on this
country, thus anticipating the autumn move
ments of produce. The cotton crop is rather
lat, this year, and low prices have ruled for
b eadstufs. These circumstances combined
nave caused exports from America to- be less ef-
fective factors than is often the case in the al-
tup,p M, tho EyphauUn