The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-03-30
FINANCE AND COTTON


r,s following is from the London Econo'
ms ,rt ~ Change in the circumstances OF the
% n,srket Is entirely due % the de-
noaI' br specie for America. ms has
pa" considerable. about 150OvVO having
eee- Wifhjrawn from the bank Tor TINS
nst Der. and 10 is reported that iorther
p.t,,t may De taken tomorrow: \ CON
snsV'sshie sum has also been taken rom
$50 thus diminishing the demand,
Fts.b would otherwise have been concen-
W., ~ on our market. Reports were cur
u1 s, circulated on the strength OF very
, snS ,nThority, that the gold Withdrawals
sSm this country We're not altogether genu'
sssexchange operations IL appears, now
~ that the transactions would entirely
s's,, rs an exchange operation, and this
Circumstance, together with the lact that
.,s SIMS were taken ON account OF banks
~ IN connection with genuine bus
oss, transactions, would appear
atienpt to manipulate our
81 "a, beihg the cause of the operation.
TLa Srt that the New York banks showed
ny 5e6ciency in their reserve is also In favor
at,nis opinion. Should the movement be an
sU.ifcial one, il may not be expected 10 last
s,.s n IS we believe, it is genuine, tits,
~ ma other hand more likely to continue.
\, Ia onite possible, however, that the bank
nav he wiIliugtO allow its reserve 70. be re-
5'csi 10 a point, considerably lower than
'rSs, il is at present before raising its
'har,es. and advances till the dividends are
Tai1 could be obtained yesterday at the
pre,ent rate.
PiCbe BuIionist, referring to the outflow of
ALI concludes as follows:
'"The question entirely hinges upou the
,ourse of the exchange, and this is such a
variable item that no reliance eau be placed
ppon his maintenance at given price from
Ssy 10 day. It's tendency is, however, decid-
sliy in The downward direction, and while
tbis is so we have TO face
the eyenuality OF further Withdrawals.
The bank, happily, at the present time is
strong enough to be able TO surrender
considerable amount of gold without much
inconvenience. But 1t is not comforting
reaection to bear in mind that the in
creased strength of the reserve which has
allowed the present 3 per cent. rate to pre-
vail has not been derived from any influx
Of bullion from abroad, but purely from
the reduction in our internal currency. In
The event, therefore Of a foreign demand
threatening us to any dangerous extent, re.
cen, experience shows that our reserve can
be only recruited from internal resources,
and thus on every fresh occasion, when
this process is put in operation, the origi-
nal difficulty, the scarcity OF gold, becomes
ih'eus'r r w VIZ ~ ptto" " .no ue-
there is at present no prospect of other tor
eign requirements, exchanges, il anything,
V''"o '"''''' ''''0'''D-e w 'Ai-' o0"A''S'
p,,rsrprrr,s cove tho s,rir,oror =, ..o
phnu9tn,,i-t SnS .nV J,idsJuoy Ia Ine
mar ,", n' has Gec"roS ;tsaIF Av or1Is"y
rolisve has tended ~ ros,ric, hrsimosS o w
u.s. S,oc "9 ,J yit ionitoo ouSI9Ss V
f-ioas 6nwcvar Tavo hnen wall Hiio smst Int
anJ a fraCtionei odvoncn hoe Saoo roonrS.,G
rom dav to dav tboncb nn T TTr NV
was brolen Inv n sndden bear attaci, w V tho
marset at tho cIoee wh;nb ',a,,o ~ h. "'t ,a,t
,jnns of eycitement IL Iaa HoJ y rIo it'Se
waat The higb rates for oaIi Ioo "r s'5 s, .,o
gcin" abont 70 IN IA nor cont hns,a " hod
tpo etYsct of serdinr a,,a,, 20 i'sa
from varons quarters yvhict nil donI,,icao
maze i,seIf fsIt noyi n,oai,. a, "i'i
cbange Say;nc, taiIo,, 80, "un ioLeisi eA-
nortins noint h"ii;nn G ;s n ri,e solu lill-
sSroad Tho stnnS 10 In ~ run
a a.nI' nc StVoh market IL SUN lelt en-
ness Of onotatons in tbe fsc anu " the s.onnI
Strain u ccns;dsred tn b ,a'e O VI se e iTey
That Stocks have faIlo ~ pt EoUu eFLuelice
renewal Of ACTIVITY nav ANY s'ao,s itaIus,
soon aS Ioanabie S,nSys ICY ue eApecieu rs
ant AMI "' '''''' '"''''' '''oiiie i'ioio "oulu-
~
Tur Omaha rood ill soo, liza s-zc M,
more cons"s IN 's scco " sun oP e fS' %iJOoOQ
road completed 10 a connection with the
President Hi aF H. e. ny ,,..
olis 3 Ma,,i.tt, Va VIC d. IauI, Mllheap-
o,,s " Hl"li.opa roau, says mat the COM