The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-06-22
FINANCE AND COTTON
FINANCIAL.


The Financial Chronicle says there il M
financial question etiecting SO great ;n,ar'
ests about which so little IS clearly nnSsr-
stood, as the governments surplus revenue
To be sure, the treasury department pub.
fishes full monthly statements, and in
them give many useful statistics, bnt The
figures are so involved through the fictio mo
OF book keeping, that very few gain from
them any definite idea of the actnai
change the government balance is nnSar.
going. 1t may be growing larger month
BY month, or 1t may be growing smaller
and yet one unfamiliar with the mode of
keeping the accounts, will draw a conclu.
sion the opposite of the truth
i Ss to February ISIS, V amNnsl
the cash items or assets were in
cluded all bonds paid prisr to the matnritv
of the call, and consequently the apparent
balance was just so much greater than the
actual balance, This was good book keen.
ing, but it misled the average reader for
when all the calls were matured and ali
these paid Londs were marked OIL. il was
suddenly seen that instead of a balance NJ
100000, as the monthly report stated II
the government was only carrying about
l2O,000,0O0.
We call attention to this now, because
from the little items we see published from
time to time, the public appears to be
again in danger OF being led astray by
the current figures. In fact, there
seems to be general concurrence
in the idea that government revenues are
very small, its disbursements very large, its
balance hardly sustained and bond calls
never likely to be resumed. And yet up
to this time, no such conclusions are war.
ranted. VI course, We all know that the
revenues have fallen off, but to no greater
extent than was anticipated. In our last
article on this subject we summed up this
feature OF the question by estimating thar
the met loss in the revenue this fiscal wear
compared with the fiscal year ending
with July /, 1882, would be at least eight
"and half millions, and bring the actual
total receipts down to say 1896 0OO, 600
against $403 525, $50 last year" Judging
from the statement no to June LIST, il looks
as il the loss was to be no greater than we
at that time stated it, and in fact, as if the
actual figures were coming out marvel
lousy near our estimate.
The Los Angeles Herald remarks: Asa
sample Of the profit of quartz mining. the
case of the Idaho niue at Grass Valley. Cal
ifornia, may be cited. This mine, which
cost $50 600 to get to work, has paid in div.
ldends since 1868 forty times the cost OF the
mine ana machinery, and still the old mine
yields on as before. and has yielded over
$o,OOOOOO, about So 000,0O0 of winch has
been paid for labor, aud So 900 600 in divi-
dends. Such examples of mining pros.
perity in Nevada county are very good, and
will be duplicated in southern California at
an early day. The Ore Grande pays for
itself once week. That is certainly very
good showing for this part of the country.
Mining has passed the stage Of experiment
in southern California. The mills of Pima
cate, Ore Grande, Calico, Providence, Dag
gett, Waterman and Inyo county are ali
doing we'll and making most gratifying re-
turns. The boIax mines OF southern Cali |
fornia are to-day worth l0O,C00, 900, while !
TIE soda mines can supply the world with
that indispensable article, We are Just be. !
ginning to learn mining in this part OF the
country.