The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-04-13
FINANCE AND COTTON
FINANCIAL,

pr.AppINe the alleged rise in the value
Of Sold ana the supposed consequent neces-
&c for some sort OF legislation, the London
naly News saws: There has seldom been
a neyiod OF low prices like the present with
ar AN outcry against the state of the cur
ssncv Its not in human nature that,
anrr long time of depressed markets,
,ho,e concerned should object TO schemes
,or raising prices artihcally. To wait for
The slow. natural cure Of low prces is an
irksome business. Accordingly we are con-
,jnually hearing Of schemes for raising
nriccs BY making money more plentiful.
Bimetalhsts, "a everybody knows, wish to
correct this depression by bringing up sill.
oS rold. Some bankers OF expe-
renee, especially those of Scotch
eynerience, suggest the introduction
n, II notes, and even los. notes, in order to
IKE ont the supply of gold. There could be
ma sound objection to the issue of such
notes if the public wished for them and u
GOOD reserve were kept available for their
conversion. In Scotland / notes are far
more readily taken than gold, and half-soy-
erecns are not coin which has sunk deep
into the affections Of the people If this
country. We must nevertheless own, in
face of all this, a prediction IN favor OF
letting things take their natural course
without legislation based upon any such
unsound principle as that which would re-
gard 1t as the business of the state TO inter-
tere with prices. To improve the currency
is one thing, and proper thing for the
state to attend to; TO attempt to influence
the course of commercial markets quite
different matter. Ont of the necessities
OF business sprang such voluntary
expedients for doing go without money
as the passing Of notes, bills and checks
Their creation had the effect OF augmenting
the supply of money. Had they not been
used either the gold would now have had Il
lar higher exchangeable value than it has
or business would have been cramped and
stunied. But while the use OF checks, etc
has mad greatly beneficial effect upon
trade, it never was and never could prop
erly be the function OF n government to
keep down the value OF gold. The natural
value of gold as of other things, is far bet
ter left to the natural conflict of forces in q
free market. Whenever a government at
tempts to step in with the laudable desire
OF setting some particular thing right in
trade it is very apt to set great many
other things wrong. 1t 10 true enou III that
gold, unless supplemented by fresh Instru-
menls or methods of credit, may by de-
grees grow insufficient for the work as
signed to it. In other words, it is quit
possible that, like tightly fitting garment,
which by degrees contracts the form in
close 1t may produce further fall III
prices. Even though that were so-and, as
uopuoy ran attempt to forecast the future,
We will nuS say that IT may not prOvet0 be
so-tnere would still be NJ reason to 20 tu
the state with prayers for sLch an altera-
ton OF The currency as would allow prices
10 recover. The currency is thing to be
attended TO for Itself, ana not on account OF
the iaGcied effect 1t may have upsn prices
in the commercial market. II supplies Of
produce are excessive and proiitlessto those
III trade, the sooner natural forces reduce
the supply the better. AS it is observed nj
the opening, the low prices have lasted sc
long and have reached such an extremity
that the natural forces of recovery may per
haps he relied upon to show their effect be-
fore long.