The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-01-20
FINANCIAL AND COTTON
FINANCIAL

Az exact statement of the ooinsge Of siivsr
dollars nor the calendar ysar l>o2 Is now at hand
The whole number e1iued was -1,eAlv9 The
whole number coined under the act OF Feercary
- ISIS, was iS1.a5AtSl During four years aud
ten months under that act the number coined
was more than sixteen and half Times the
number c0iued during ihe 81 ysars from l792 10
1873, when the e0inaseWaS suspended, OF the
silver dollars coined last year, Sll7,l95 went
into circulation, and the amount OF silver oerlif-
cafes outstanding Increased &c, lbs 80. The en-
tife Incl. ase in the circulation II sill
yer and its paper representative to-
gother during the year was there
fore. So ei5.5SN, or only about one-third the
amount Il the coinsse. These exas figures DIFF.
fer slightly from The approximate figures given
some Gays ago, but they do not the less justify
the inquiry whether the folly of coming three
times as many silver dOllNs as are wanted haI
n9t been persisted In long enough This inQui
~ is entirely independent of any question as to
the etect OF increasing the supply of this di ute
form of currency at thstate OF more than 49,
100000 year, with tho price Of silver bullion
declining, upon general eonfdense and the
public credit
Reference has heretofore been made to the ef.
feet of thia accumulation upon the treasury re-
serve. But one fact in this connection has not
been brought out clearly enough, and 1t "a one
which must be taken into the account If We
would know the true stats of the reserve This
is the fact that s0nds which are redeemed be-
fore the maturity of the calls under which lh,y
are presented for redemption are carried on thu
books as cash IN the treasury until the maturity
of the Gala The amount of these bonds is nclud-
cd in the treasury statements of cash balance
available, and must he deducted in order 10 ar
rive AZ the true cash balance Tho amount OF
bonds carried as cash varies rom tine to time
and is often so large that the treasury statements
convey a very erroneous impression as to tho
actual balance available On the sd of January,
1854 Jne amount of these bonds was as t73,47l
ana The balance aysilab.c, Instead of being
Sli5, 1928 &. as the treasury statement showed
n "a
ISL or october the actual balance correSpOnded
either exactly or pIclty closely with the nOmi-
nal balonce, but siuce that time the amount
of bonds held as cash has been steadily i'll
creasing, and tne actual reserve has been as
steadily decreasing, On the LIST of March, 1882
the actual balance after deducting the fc-
titious bond item was sl549l6,92S; on the ID OF
January this year the balance had been re.
duced to Sill, 463,0ll, which is less Than at any
other time since resumption. This shows what
Secretary Folger has done for the ''reliet' of tho
st 'ck exchange inNew York. 1t would be in
teresting TO know whether the slS 52l 53l in
bonds carried as cash on the ID instant was ear.
ried as gold II so, the actual gold balance
owned by the government and available for
redemption OF greenbacks was not more than
SIS 600 00J or co. 90 900 under the limi. where
the secretary is required by law TO stop issuing
gold certificates. On ascertaining the true State
OF the reserve, one is moved to wonder why
Mr.. Folger should be worried about his excess
of assets,
In the annual statement Of the bureau of sta.
tistics for the fiscal year ending June 80 1882
just issued is given classified statement OF the
exports of the United States, which is claimed
to be only approximate, as the details are very
complicated and many things are necessarily
subjects of estimate. II will be seen that our
exports consist of over Is per cent of agricultu.
raj productions, and this has been about the ra-
ito for sixty years. Manufactures come next but
they make rather poor showing for such a
country as this, which has all The facilities for
manufacturing what other countries want aud
ould and would do it In competition with
Europe If the manufacturing interest was
not hampered by a high protective tariff, which
does not protect, but enhances the cost of sysry-
thing we make ,st drink and wear OF manu-
featured articles, those of wood constitute the
larges, item, being SIS S24, 1886, Iron and steel
come next, and amount to N7,S569l1. The
largest items of the exports were: Raw cotton,
sl99s 26li; bread and breadstuffs. slS2 &c, 52S;
provisions, 2O655 70l; mineral oils So, 20 1905
wood and its manufactures s24, OH, US; tobacco
and its manufactures, III $50 SOD iron ana steel
and their manufactures. $40 7iS, zoo; cotton man.
features, slS,222 979; living animals So 729, ll6;
leather and It's manufactures, ss,99A9I7; oil.
cake, s6,SO,o2S; asgregating about 20 per cent.
of the total exports.
The fOllt wing Is the exhibit: