The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-06-13
FINANCE AND COTTON
FINANCIAL.

In reviewing the business situation an
eastern exchange calls attention to the
steady &c umulaiion of money In the treas
rrv ana IN the banks. On last Saturday, it
! snnears, the United States treasury held
sl92 GjS. S2l in gold against which there
were outstanding certificates to the amount
of s53 933, 20, leaving the treasury the
owner of Sl3S, 735, 55l. The silver account
shows the amount held. including frac.
final coin, TO be l40,0S7 ,S2l, against
which there were certificates outstanding
N the amount OF ST. ,57S,S6 leaving the
net treasury ownership of silver of S6S $685.
AGO. In the past two months the increase
in treasury coin has been IS, 100, 1884, though
during this period the stock of gold has de.
clned S, 40S $50, and the holdings of silver
Increased 7,l90,235. Whether this process
of exchanging treasury gold for liver, says
our eastern authority, is to continue until
the latter susplants the former, is becoming
an engaging question. AT the rate that
this exchange of metals is going on, il will
not be msny months before the ability OF
the treasury to maintain 40 per cent. re
serve against the greenback issue and keen
up its coin payments will be brought to a
severe test. The banks and other reposi
tories Tor money throughout the country
show a continual accumulation of money,
indicating an immense surplus of loanab!e
funds lying idle at the present time.
The Daily Indicator says: The decline
in the amount of bullion in the banks OF
England and the increase of specie in the
banks of France and Germany attract Sc
rious consideration as to London's assump.
ton of being the head. center of finance
The last expedient of raising the discount
rate fails 10 attract bullion to the bank of
England, while the banks on the continent
show steady increase. Last week the bul.
lion reserve of the bank of England in gold
was down to SO, l3l 200, or over t3 200
less than in the corresponding week OF
1882, while the bullion of the bank of
France was GAO, 49l, 200, or GO, SS7, 800
larger than in the corresponding week OF
last year; and the bank of Germany showed
an increase of f5S5 500. Besides the above
amount in gold, the bank of France holds
over $4,000 900 in silver, ca, 100000 less
than tor the corresponding week of last
year; and the bank of Germany now con-
tains 500 400 600 in silver, or over Il zoo, 900
more than at this time in 1882"
The task OF counting the Brooklyn bridge
receipts of the first "A hours was finished
Friday. Two men were engaged on i. early
in the day, and later the number was in.
creased to seven. The count showed that
i40,99S paying foot passengers went upon
the bridge between the opening on Thurs
day night and II o'clock Friday night. The
tolls collected for vehicles amounted to
$597 %. The total receipts were 50 600. 1t
was estimated in the Office of the bridge
that in addition to the paying foot passen-
gers 5000 people went on the bridge in
the course of the "a hours in vehicles or
without paying, so that the number for the
first day was close to 10000.
The English receipts on account of reve-
nue. from April l, 1888, to May u, 1888,
were Gl0, 7OS. $751; against 60 S27,9 i2 in the
corresponding period OF the preceding
inancii year. The next expenditure was
9ll ,43O,S9 against Ell, 122,6Sl, to the same
datein the previous year. The treasury
balances on May 12amounted to f5,6lS,042,
and at the same time 1882 to "a $50 ,662
Down to 1894 the English government,
says Sir John Lubbock, in the nineteenth
century, gave to the taxpayer notched
stick as receipt. The old excheauer tai
lies were willow rods about five feet long,
which were notched at certain intervals,
each notch being understood to mean so
many pounds, shillings and pence, or frac-
tons thereof. When the amounts were
thus notched, the stick was split, one part
being kept by the taxpayer and the other
bv the Government