The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-08-08
GtUJ oou
FINANCIAL AND COTTON.
FINANCIAL.

COMMENTING upon a remark of the Chicago
Times to the effect that IL is not easy to state eN
,ctiy what effect the adoption OF tariff TOR rev.
enue only would have ON the prices OF cora
wheat pork and beef a high-tarif organ saws:
we thought the :ree-traders claimed that the
lowering of the duties upon iron and steel and
clothing, ETC., would enable the farmer to live
rhcaper aud to reduce the price of his products.
Oris II true that the tanner products are equal
IN high with the manufacturers, aud that he
Shares in the benefit of high duties If you re-
dUce the cost of living, you must reduce the
price Of products. We are all in The same
PROFESSIONALLY lowering the duties on iron
and steel and clothing, etc, would enable the
farmer to live cheaper and make 1t possible for
him 10 sell his prolucts cheaper without any loss
o! profit But il does not by any means follow
that the farmer would reduce the price OF his
products because he could get manufactured
articles cheaper. He certainly would not un.
less he was Obliged TO- and ii Is not at all like
IN that he would be Obliged 10. IL is not true
that II the cost of living is reduced by lowering
the prices of manufactures the prices of farm
products must necessarily be reduced Under
absolutely free trade il is not at all likely that
the fam products above named would be
any lower than they are now. They are all
eXpOctable and the price of the total supply OF
any one OF them is determined by the price Of
the cXportable part, and the price of that part
depends upon the foreign demand. That de.
nand no doubt would be stronger under free
trade, because foreigners would have better
better able to buy our products. The probable
ity IS therefore, that free trade would not only
lower the prices of manufactures but increase
the prices OF our great agricultural staples thus
benehtiug the farmer in two ways
To say that we are all in the same boat In
the same sense intended is simply absurd The
object of protective duties Is 10 enable American
producers OF protected articles to get higher
prices and when they are laid on such articles
rs we do not produce In quantities more than
sufficient TO meet the home demand they pro.
duce that effect But they do not and cannot
raise the prices OF articles of which we produce
a surplus. The producers of such articles can.
not he protected by duties. They can get nc
more for their products because of the
duties, but they must pay more for the
things they do not produce, Thus the
producers Of corn, wheat, butter cheese
beef, pork. cotton, and other articles of which
there is surplus for export The protected
classes practice reciprocal rapine. Each class is
robbed by the others, but makes itself whole by
rObbing them i'll turn, but they all join hands in
pluudering the classes that are not protected
that is, the classes that produce eXportables
The farmers are the victims, and yet they no,
only submit patiently 10 the robbery, but many
OF them even imagine that they are Ell
rched by being robbed. Some day they will
awaken from this deluSon. aud demand thai
the protected classes be in fact put in the snmt
boat with themselves: or rather that they, nix,
the unprotected classes he left to their own re
sources, and no longer be aided by goyernucn
III III Cking Inc pockets OF other people.
THE distinctive feature of the new SIS bank
note viii be Il portrait of the late President Gar
field. There is to be no change in the yignetles
of the notes OF the other denominations, but III,
seal and charter numberis to be printed brown
aud the treasury numbers in blue The borden
OF the reverse of all the notes are to be printed
In brown lathe.work in the center and In plac,
ofthe historical engraving heretofore used Tn,
charter number of the bank will be engraved
six different times In the border of each OF Tn,
new notes of every denomination, so that tn,
title OF each note can be readily asccrtaineC
hereafter from fragments of the notes UpoI
the center of the back of each note the char,e
number of each bank is TO be printed in larg,
green figures so that the note of each and ever,
bank hereafter issued will be q distinctly,
feature
THE July statements of the saving banks o
New York show an aggregate increase in de
posts since January OF iS,000OO0 The tota
deposits OF all the savings banks OF the state ar
now more than s4Oo 100000
The bulk OF speculation in railroad stocks ha
leen directed for some time toward the south
western roads and other properties which ar
securing the benefit from the movement o
wheat, corn etc, to the western markets.
DALLAS EXCHANGE AND COIN.
ny Buying. Selling. Buying. Selling
INC, Elk. h@xPar1k St Louis k@k par@$
Chicago. .h@APGr@A N. o., h@kPar@t
Galveston = ParGA Houston..h Par6Dl
Exchange, all points X tos discount sterln
sight 81 50 Francs, 5@5 10. Marks 25.
Trade dollars. E. BoCts. Mexican dollars. s