The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-06-01
FINANCE AND COTTON
FINANCIAL.

In discussing the situation the Chicago
Times saws: Those cheerful and buoyant
eastern trade journals that labor daily to
nroye that the falling oil of exchanges and
fpther symptoms OF depression really sig
n;fv nothing discover rainboWs of promise
IN various quarters. One of them nero elves
,hst all the croaking comes out of the east.
In the west. they tell their readers, pros.
meets are almost radient. Crops are prom.
Sing, collections are good, and the news
nspers are hopeful il not boastful. The
same journal has discovered that those
only speak discouraging words who borrow
their ideas from London. Those who fix
their gaze steadiastly upon the American
situation aud do their thinking with Amer.
;ean brains are all iair-weather prophets.
Other journals of the same class assure us
that while values are somewhat unsatistac.
tory. quantities OF merchandise are all that
could be desired, and railroad earnings are
GOOD. Hence the inference that all is we'll,
And all this talk Is generally rounded off
with the not very original observation that
predicted revulsions never come.
There is much in this that sounds like
vhistling to keep up courage. 1t is not
unite true that the croakers are all in tie
east. Indeed they are not numerous any,
where, and perhaps the west is as well sup
plied with them as any other section. Nei-
ther is it true that Americans borrow their
IDEAS on matters of this kind from England
10 any great extent. The truth is that no.
body is predicting disaster, which fact,
according to the maxim Just referred TO.
may constitute reason for expecting
disaster. The croakers, as they are called,
simply state indisputable facts. Prices
range low, and the clearing house returns
do not show that quantities are sufficient
10 compensate for low prices, they rather
show the reverse. Crop prospects are GER
tsinly not of the brightest, though as to
spring wheot and later crops there is still
q possibility of abundant yields. The
persons who point out these facts are not
necessarily croakers, or prophets OF evil.
1t is not often hest in dealing with such
subjects to conceal or misstate facts. The
best way to avert disaster is to anticpate
and prepare for it. Those who bring facts
to the knowledge of the business public
deserve better than those vino conceal
them or underrate their importance, So
far from helping to create panic, they help
to prevent it BY putting the business COM
munily on guard against hazardous ven.
lures and imprudent expansion of produc.
ton ard credit
The Boston Advertiser, an ultra and con-
sistent republican journal, says in its issue
OF May "a
"The tax and tariff act of Marcn 3rd
repeats the tax OF capiial and deposits Of
banks, Naukers and alional banking asso
ciai0ls, except such lakes as are now due
and payable. The Did bank tax was calal-
lated for each month, but was payable ONLY
on January and on July 1. The attoi-
neygenerai now rules that the banks owed
nolhiRg IN tue way OF special tax after
January l. This ruin. iavors the banks
very much. Some ut them thought that
the government would pursue its usual
course OF ruiipg against its own ciiizeps in
financial cases OF reasonable doubt. But
the national banks have often been favored
by the departments more than by congress,
and the opinion OF the attorney general is
On illustration"
The number of savings banks in Franc q
Is Al which have besides 79i branches,
They comprise about 3,600,0 deposiiors,
Of whom 2,5OO,Ol0 possess sums below 500
francs, $50, 600 from 500 frares to $40 francs.
$4,000 from 800 francs to LOCO francs, and
10000 shove 1000 francs. The share of
Paris in these depOsitors is 500, $50, of whom
lD,l1l are workmen, 55 Cos domestic ser.
wants q III trade assistants, 1881 soldiers
and sailors, 1873 1897 professionals, 15S, 324
minors and 507 benefit societies.
Two national banks failed in 1881 and
three in 1852. Of the previous failures, ten
hnally closed their affairs in 1882, paving
fespectivey 46 6 per cent, So, 1872, leo, 1875,
IA, 70, q, 90 and 100 per cent. Since
me passage of the act twenty years ago,
elghty'seven banks have failed; the loss to
creditors amounting to S7,000,000 This is
an average annual loss to lepositors in
national banks OF only 100 OF per cent,
The total paid to 500, $50, sos of proved
claims was s2O,9i5,0OO, and the average loss
about 70 per cent.
with regard to the prospective supply Of
money in American markets, an important
Mem Is the coming disbursements of the
united States treasury for pensions Oh June
El when the second regular quarterly pay
@ Meh' Will be made, amounting to $l2 ,OO0,-