The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-03-22
FINANCE AND COTTON
FINANCIAL

~. nsst week has been conspicuous
H., ~ the high rates of interest whlcn
la PREVAILED here; for the steadler tone
hsNe Ir,nder this adverse condition OF our
ever Sr,srket. for the continued, though IT.
siar retrogsde movement III
brsadstutis speculation under re.
w, of favorable westher IN Europe ana
,,urasrica for crop development ana iarm
~. aud for the improving ieehhs among
snnfeturers and mercantile classes not
iir,,bsranding the many failures when nave
hsc5me so important 4 feature IN the sltus-
ton. ,,-n,, foot that money il so
~ ths stock market has been pretty
ssC,i, held this week. The leaders have,
~ H. oest of their ability re-
W,,od the tendency or efforts
y, n decline and as often as prices
III OH The cliQues would come 10 the re-
~ l'af oftbeir speclalities, and move them up
.sin Advantage has been taken OF the
5ocIsratiOn of an increased dividend on
Wos,eyn Union, TO advance the market
W. af that stock. The Wabash stocks
bsve been pushed up on the rumor already
..at.rred 10 that the managers propose TO
isase that property TO the st, Louis Iron
Maintain IL Southern, which IN turn is
aireody leased and is a part OF the Missouri
pacific. The manipulators apparently
iorget that all OF these roads are virtually
NOW under one management, ana possess
,gbe,eyer advantage they could OBTAIN by
such an alliance
Ayexchange states the following polntsin
.sosarh recently made in the English house
a. commons by Mr.. Goschen, VINO, the
Snsctator saws, is "of all men in the house,
tbs greatest authority on currency
"Sir. Guschen was speaking OF the pre-
ysiItnr distress of the English farmers, ald
hs asgriped, as one OF the chief causes
thercol the decline in the stock and pro-
Snction of gold aud the consequent rise IN
its value. The rise in the value OF gold is
estimated by the experts at from 10 to 70
ner cent. and it is admitted by all OF them
hat the annual yield OF gold in the iuture
viii decline rather than increase, that the
wear and tear aud the use OF the metal IN
The arts will more than exhaust the annual
weld and that gold, therefore, must con-
yinue 10 get scarcer and dearer. The gold
of England has experienced special
shrinkage because of the large ABSORB
lion during the last few years by
the United States and Germany and
the recent purchases made by
italy in anticipation OF specie resumption.
Germany ana the Unlteu otales are De-
lieyed TO have taken up fully Sl,o0O,O0O,OOQ
of the small stock OF gold in the W9rld, and
there is no prospect that either country
will be compelled to surrender any part of
its rold accumulation to Great Britain. As
to the United States, the indications are
that the shrinkage in prices and partial sus-
pension of industry will lead to domestic
economy and retrenchment in imporlations
-, nhr,ad In that case all the gold now
in this country will be retained and the
English will be compelled to contribute
still more in payment of American pur-
chases, Italy has taken $GO,OoO,O 600 more OF
gold, preparatory to resumption, which Is
announced for the middle of next month.
These conditions, along with the decline in
the yield of the mines and the increased
consumption by wear and tear, and in the
arts, account fully for the shrinkage in the
gold stock aud rise in value which England
Is beginning to feel"