New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-11-05

Europe. Later in the season this may be changed
by the presence Of orders on English and French
account at New Orleans, Mobile, etc.
BANK OF ENGLAND.-The Bank Of England re-
turn for the week ending October 3 is as follows,
compared with the statement of the previous
week =
Government deposits. -. 20 ~ 1873 f6,I6945l
GS Ser ssea4te esnfi''s 9 517i 555
Notss unemployed " 75s6H5 65502g
Notes circulation. 2s9596 G5 2tS 35 G39
Specie and bullion 1879 2b2 l6,Si9l3f
BANK OF FRANcE.-The return of the Bank Of
France for the week ending October 4, is as fol-
lows Commercial bills 2j4 millions
advance millions; notes AZ 3-5th millions. De
crease-Cash in hand, 49, millions; treasury bal
ance a Millions current accounts, LIZ millions.
EUROPEAN RATEs.-The following are the latest
quotations for money in the leading cities on the
contnent:-Paris, 3-24; Vienna, Sc; Berlin,
80; Amsterdam, &c; Turin, 6-S; Brussels,
3-23 Madrid 80; Hamburg, OBJ; st, Pc
tcrsburg, 55-l0; Frankfort, 4-55.
u. S. TREAsURY.-The balance in the hands Of
the United States Assistant Treasurer, Boston, at
the close Of business October l3, was SO 644Gl4'
| being an increase during the week OF SfE6,3Ji.-
Amount Of currency S7j04,978, Amount Of com
| $40 739 ,G36.
CANADA BAEKs-The official statement Of the
Canada banks, acting under charter, for the month
ending Sept. 80, 1866, according to the returns
| furnished by them to the auditor Of pUblic ac
cnnmts bas hcen published in the Canadian Jour
nails which remark that the circulation Of the Bank
Of Upper Canada is being gradually absorbed in
considerable Sums in paymento OF notes discounted
BY the bank. The very favorable opportunity
afforded the debtors Of the concern to discharge
the liabilities By purchasing the deprecated bills,
and with them making payment, has been gene.
rally embraced and we hear that many OF the Old
creditors have been stimulated to extra efforts on
this account resulting in the Wiping out Of some
claims which looked almost hopeless. In the
meantime the public are anXiuusly awaiting pro.
missed official statements OF the true standing Oh
the bank.
NATIONAL DEBr OF GREAT BRrrA1H.-At the
annual meeting Of the Social Science Congress,
7 recently held in Manchester, in England, one OF
the speakers Ia Mr. Hil) discussed the national
debt of Great Britain and suggested plan for its
, gradual reduction and final extinction He said :
Under the following arrangements the whole
debt might be paid of in one hundred and twenty
four years: | would propose that next year 100,
600, 600 Of the permanent five per cent. annuteE
IL be converted into five per cent terminable an
nuities to do which would require, for period o
! thrty.one years, an addition Of about t. ,OS0OOi
year to the taxes, namely, e. 010090 for nteres
and about 100000 for cost OF c4iiectQn; but iron
this sum would have to be deducted first nearl,
I ff00 900 for existing termiaable annuities which
/. will come to an end next April, and upwards o
Z 100000 which, in like manner, will have to b.
struck of in nineteen years. In 1893 the aCcoun
would stand as follows: Debt, including estimat
equivalent of probable life annuities about 40,
:. 100000, bearing an interest of somewhat NOR
d than 2l,DUU,OJU; or including the costs OF cOHeC
g ton and management, Of about twenty-five mi
lions: as compared with the present payment
twenty seven millions, or the payment after lSS
of about twenty-five and twothrds millions.
trust that when the year 1898 arrives, there will b
general willingness to employ at least the create
part of this saying-say three milliOns-ln tul
Their conversion Of permanent into terminahe al
nuities. II this be done, under the same arrange
ment as the first proposed conversion, it Woul
apply to a sum of one hundred and fifty millions
and in thirty-one more years the debt would b
brought down to about five hundred and sixt
millions requiring taxation OF about seVentee
and half millions, or about four and half leE
than in 1898, and, nearly nine and a half millio1
less than now. At the next period of 1923, hof
that four millions Of the new saving will be
signed to further conversion; and if this hope /
realized two hundred millions more of the del
will be placed on the road for liquidation. The
by the year 1860, the debt will be reduced to thr
hundred and sixty millions, and the taxation f
its payment to about eleven and quarter million
as compared with seventeen and half millions
1929. By this time the debt would be broug
down to so moderate a size that hope that
one more and last effort the whole would be CO
verified into teTmnable annuities and that perha
at higher rate than five per cent. interest. B
even if the latter rate be adopted, by the ye
ro 1891. or in less than hundred and thirty yea
IIv from the present time, everyAShiiling of our de
or will have been paid, and twentyseven millions
ay year will have been struck off the taxation.
its The Newbern IN. O. Times speaks Of the spi
We Of reputation rife in that State:
We notice from our State exchanges that t
subject Of repudatonis daily growing in impt
q. lance among the taxpayers of North Carolir
$J5 They begin to writhe and groan smartly under t
NJ heavy load Of taxation that presses upon the
,2@ and they are disposed to twist out from under
r. if possible. The various taxes levied and cole
~ ed by the United States goyernment,take about
~ the surplus money the people possibly get a
ISL there is nothing left them with which to pay Stf
t84 taxes and they are looking out for some excr
8a to throw portion at least, of the burden off tn
'Sg5 shoulders. We notice that partial reputation,
ts4 reputation to a certain extent Is being agitat
~ by some of the candidates for the legislature
re the western end of the State, also that there is
Reputation ticket out in New Hanover coun
% To what extent this feeling has extended, we a
BE not able to say, but from present indications
49, auPeCI WIZ oCCuPy Ie itVeuUoh VI obl Ae-AV II
iO]s slatne in some tangible form or other.