The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-11-30
FINANCIAL AND COTTON
FINANCIAL

TEX New York Tribune remarks that the iu-
sstOn OF the currency by the issue OF gold GER
,sealts has now reached $50 100000 in six
weeks" In proof of this the Tribune states
mai the specie held by the New York city
ssnks aud sub-tTeasury increased from slS6.
sTSeI on the S0th Of September TO 6 sites Ol5
~ SATURDAY. last while the currency" held
al from sai935 795 to S23 962, 657. These flg,
ma would seem To show that There had been a
mel inc ease of cash in the New York banks
AMI sub treasury Of f!5 S2L35S-nOthing more
They do not show that there has been anything
mai eau properly be called initiation TO the
amount of ON dollar, or one cent, The gain in
soecie was sl7797,4 gl, but II does not ap-
near f0m the Tribrnes statement
whether the gain was made by the banks,
or by the Suh.tfeasury. Presumably Il was made
by III latter for that was precisely, what was
eyynecte upon the issue of gold certificates,
G7id had 10 come into the treasury before the
Certificates could go out so that there is nothing
Msll surpr sing about the Increase of gold in
Inc sub.treasury
It's plain enough that large amount of the
gold that has been deposited for certificates ID
not gold that was held by the banks fix weeks
ago. 1t has come from the pockets OF the zen.
eral public But ia order TO make il appear thai
there has been initiation to that extent IL must be
shown hrsI thAt gold was not in circulation
when in the hands of the public; and, second,
that the certificates are in circulation now that
the 60 d has gone into the treasury The Tribune
does hot show ei her of these things aud therefore
nhas M srOund whatever for Il e assertion that
the issue Of gold certificates has Inflated the eur
rency to the extent OF single dolla-. Possibly
n may have had the effect 10 initiate f. some
trihiug extent but if 50 no proof OF The fact mas
Gyet been produced
TIE New York Tribune contains the follow
Ing: The condition of foreign trade has been
Improving, but exports were quite lignt again
last week. me cotton movement continues
large 100 S65 bales having been exported last
week, against 1866 for the corresponding week
last year. But the value all exports from
this port was only s. 95SS13 for the last weoR,
against 81 OJ5 zig for the correspondents week last
yesr WINE the imports for the week ending Sat
uttay showed an increase OF Sl,ui6
@0 The breadstuils report for o..
tober was favorable showing an increase in the
value exported in comparison with OCtober.
1851, but the exports of provisions and dairy
products were only SiG600i2, against eS 6l5, Ijg
for the corresponding month last year. The
greet advance in petroleum within The past fort.
night has checked exports materially; tor the
week sndi the 18th the exports were 1897 81!
gallons against 9, i65 l3l for the corresponding
week laSt year, ana the report Of cargoes load
Ing on the llth was about a Quarter smaller
than that of the same date in 1881. Tho specu.
latOrs who nave made some millions by the rise
do not care, however, whether the country OK.
ports much or little
On the LIST Of this month the Mexican govern
luVus .uNN 10 manu. w dtbUSlucFdule extent, III
the mining enterprise. From time immemorinl
q heavy taN has been imposed on all pre-.
. cons metal exported from the country,
and tn ugh in later years this du V
was but 3 per cent. it has been
found oppressive TO a very important industry
Instead Of the 8 per cent export duty, there
now remains only an incOnsiderabe coinage
tax. Gold bullion entered for coinage will pay
sol pc cent: and silver bullion !, of PEI
cent Uucoil ed gold and silver bullion exported
unless similar miut tax has been paid pre-
yiously. will pay this tax at the cusom-house
according TO Official assays made OF their value
National banks pay the general government
YAK OF per cent annually upon their circula-
lon and the receipts from this source, between
1854 aud the end OF the fiscal year 1850, amount
ed ie w rs i645l Besides this they paid th,
United states siS, 63I925 % taxes Oh their depos
ls aud s6,Bl 1914 taxes on their capital; tota
ot9hDl 79t.H, Furthermore these banks ar,
subject 10 state and local taxation.
The amount Of ga per cent. bonds exchange (
OlS900 ''