The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-07-25

THE COMMERCIAL. AND FNAscIAL CoSDITios
OF BnAzn. The growing prosperity OF the
empire Of Brazil ia a subject with which our
readers are already familiar. We watch with
continued interes. and hope the development
of this element of order ia South America
With political and social institutions anala 1Ous
TO our own, there exist strong bonds Of sympa-
thy between tie two people, and it is source
of qualification to find that her material de-
veIopement and national progress assimilate SO
closely to our own
The report of Senior Souza Franco the
Minister of Finance, to the Brazilian Cham
bers, In May last, exhibits some remarkable iea-
lures Senior S0uzs Franco is one of the lead
ing free traders Of Brazil, and established q
tariff policy similar to ours A reduction of
the tariff Was obtained by him last year, al
though upon the admitted hypothesis that it
would diminish the revenue. The result has
been like that which followed our reduction Of
the tariff in l846; and the customs revenue,
instead Of decreasing, has increased in the
first half of the current year in
the face Of the revulsion which afflicted com
merce. From the report of the Minister we
learn that the revenue Of the empire is estimated
to exceed $30,000,0 900 in the present year, and
that it has exhibited continuousiucrease since
1888, when it amounted to about s7,5O0,8OO.
No other fact is needed to demonstrate that the
progress Of public and private wealth In Brazil
stands on solid foundations. Another pleasing
fact exhibited by the report is that the empire
had surplus of about SIS, 900, 900 after paying
all the expenses of the last fiscal year. A por-
ton Of this was appropriated to paying off the
national debt, which, at the close of the year
1857, amounted to only e5,345, 800 sterling,
which is subjected to the operation Of the sink
ing fund for its final liquidation.
Tits prosperous condition of the Brazilian
treasury has not only enabled Senior Souza
Franco to take further steps in the free trade
direction, by increasing the number of free
articles, but ii enabled him to take certain eff
casious measures during the recent panic which
ran through the commercial world On the 18th
Of December last, when the convulsion existed
at Rio Jsneiro, he placed million of dollars
at the disposal of the Bank of Brazil, in order
discounts to point prejudical to the regular
liquidation Of the commercial transactions in
the market. He also anticipated the payment
Of interest on the bonds of the public debt and
of the dividends on the shares of the Don Pedro
II. Railway. These measures contributed
largely to the maintenance of public confidence
and diminished the stringency which was natu-
rally felt from the condition Of the money
markets Of the world.
The report also gives US some interesting in
formation in regard to the foreign commerce of
Brazil. The total imports for the year amount
to f2,76l,77S. of which ffty.nine and a half
per cent were from England thirteen
and one.third per cent from France. aud
six and one-third per ceut from the
United States. The exports during the
same time amounted to el2, 1922 sol, of which
Great Britain took thirty-one and three
quarters per cent, the United States twenty
seven and two-thirds per cent and France eight
and one-third per cent. The commerce Of the
country exhibits the same progressive growth
that marks her revenues. 1t is not unworthy
Of notice in this connection that the policy of
Brazil resolutely ignores the formation of
treaties Of any kind, whether political or CON-
mercial, with foreign nations. She Is guided in
this respect by the axiom that treaties between
governments Of unequal power are liable to
unequal interpr citations. A treaty with
strong government is always likely to be inter.
preted to TIE disadvantage Of the weaker
Following the practice OF treating both weak
and strong alike In her commercial policy aud
the laying Of her tariffs, she commands at once
the respect Of all