The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-11-08

ia the matter Az the Minister OF Commerce, Count
peilation forthwith. Count Minister procee led to
give reasons saying that the gooi reputation VI
Pru,sia's finance would be rnned in consequence OF
the measure that majority OF both branches OF the
legislature were against II, and that ne conndehty
expected satisfactory reply from the Minister
Count Itzenpliz then rose and IN reply read o
declaration TO the eject thaS government was not,
averse 10 the principle OF lottery loans; four railway
companies which needed funds for further exlen-
SION had made m agreement TO that effect with q
bank; Inc governments consent had been asked ahd
the matter WAS padding N the Cabinet, whence IL
would 20 before the KING for hts signature. AS ny
obligation resulted 10 The State IL was not necessary
to obtain the consent OF the Diet Tue discussion
II being agreed TO upon II Mt oncebrougnt to
the fed but one meipbcr in defence or the govern
ment while ali the rest were hostile TO the loant
calling 1t an encourage nent to the vice OF gaming
prtrieJiufn oai0sal, zurich a few at the expense
OF Ihe many, ana an INJURY TO the holders or real
estate VINO would in future be unable TO tase uD
mortgages. LOTTERY loans should be contracted by
governments only and III extreme cases when money
cannot be raised Otherwise. Much ado IL made
about deficits and increase or burthen5, while here
gift OF l0,o0l0OJ Is offered TO few banking houses
The plea Of drawing foreign capital 10 the country Is
weak because the operation Involves great SACRIFICES
and ottefy loans are granted TO one class of indus
try they llust be granted 10 all.
These and many more were the arguments OF the
opposition IN the Upper House, while we may add
ons!a lght was made on the following day npon the
Mln,ster Of com nerce wuo contented himself WIN
repeating The aforementioned de.aratioa. ii was
Deputy DE- Loire (Caloe VINO told htnt that no sach
premium loans were tolerated IN the nrst CONNER
lhcre they would not suffer any one TO grasp the
financial thermometer IN order 10 MAKE tho mer-
ours rise. To speak OF thu Kings signature to Inc
loan was trap for stupid peasants. who could be
told that they must believe III the security or that
which the King nal cernted. Deputy Schutle
(Dentzscl) deprecated the Baden Baden ana Hon
burg fasnion OF drawing foreign capital to coun-
try whlcn would not rebound TO the glory Of Prussia.
Several speakers announced tnat they would bring
In motlons 20 settle the question legally Baron Won
Derheydt attempted 10 come to the rescue OF the
Minister of Commerce; but, in giving a history OF
Council hau directly opposed premium loans. lie
then confessed Jnat ~ was matter which ought TO
he regulated by law, and concluded win tho ASST
rance that 40 definite decision had been come 10,
ana that government would give due consideration
to the Vows OF both houses OF the Diet. This
was larry backing out from the original position
OF the government and leaving In the lnrch the
two iorlogn me npers who SAD pleaded IN Its favor
One OF them, Deputy wilkins, III the Upper Cham.
Der, saIu Ia4y lottery premium loans were not pro-
hlbltcd by the law and II mad been decided by the
Supreme Court that they bore no Resemblance TO
games OF hazard. Waile the owner OF a lottery
ticket loses MS capital il he draws blank the
holder o. premium bond retains 1t, and receives 1t
back In the end, wun the addition OF two per cen.
interest upon interest 1t Is sort OF saving opera
ton, an insurance against need In later days. The
landed pfopretors Wlo consider tine measure IN
furious ana oppose 1t, did not seem 10 know that
they were entitled to mortgage their estates by
ellec5 from government. In the present instance
privilege was requisite because these railroads are
under the supervision OF the government, ana can
not enter into financial operations without tue con-
sent oil the Minister OF Commerce.
The other deputy IN the Lower Chamber adduced
some important reasons IN lavor OF this KIND OF LOANS
which, 1t cannot be gainsaid. have become very
popular In kpssin, Austria ana other States and are
drawing away from Prussia q VAST amount OF clp-
tai. Ii tho raiiroads were refused the privilege
ought to be exercised by the government aS the
only means Of composing with foreign operations OF
the kind and inducing other nations 20 invest cap.
tai Iii PFusSian premium loans.
To sum up the master it Is not unlikely that the
government, while abandoning the original plan
may Try the experiment OF premium loan on It's
own account, though just now the attempt would be
rather bold, as both Houses OF the Dict nave given
notice OF resolutions, declaring the privilege Which
government intends to give TO some banking firms
as incompatible VITA the welfare OF tine State.''
The effect OF this negative view upon the Bourse
has been TO send up Russian aud Austrian premium
loans by several per cent, thus showing how con-
trary 10 the taken by the legislature these lot
terry premium bonds are fanced by capitalists
The government have again thought 1t necessary
10 exercise stl srlcter control over certain agents
who are charged with inducing emigration on
largo scale to Texas. These agents are credibly re-
ported to have contracted for the passage Of $4,000
German emiuranls VIA Liverpool.
Tic Alliance lsraellte univer5ee, unior the pre-
sidentship OF d. Crenileux, the noble conIiere IN
meeung tnls evening, when the Aforesaid president
Will deliver an address. The case OF the necessi-
tous Jews IN Western Russia VIII be taken into con-
slieraLon aud means devised for their prospective
emigration.
Trade OF tho Confederation In WOoIien
G8ods-Isivais mt Home aud Outlets
Abroad.
makes the following remarks on the German trade
In woollel stufs:-
England, France and Belgium, our great rivals in
foreign markets. of course import but very small
quantities .. our goods. In the two last named
Countries however. some stulfs are beginning to
force their way Austria, also rival in this branch
OF industry, has no market Tor us at present. oar
exports to Norway, Sweden and Denmark have re-
NAMED unalered. These countries arc IN part sup
Piled py their own manufactures aud chiefly import
interior articles. Russia continues her exclusive
nj litVn hy mr. paaa
tories Is scarcely worthy OF mention, The trade
with Switzerland aud italy remains on Its former
footing that with the East suffered IRON the conflict
between Turkey and Greece. but Is beginning to re-
viye. Our exports to China. India and Japan are
small rs light and cheap articles not made IN
Prussia, are there chiefly IN demand. The Australia
sian market Las on the whole remained unatered
wnile the south American war and the terrible
natural cdamltie9 the western coast have greatly
diminished tue demand In thar quarier. me high
Cuiles imposed by the United States has greatly
crippled the trade with North America.
Prussinn Railroads.
The aggregate receipts OF the Prussian State rail-
lff4an 4,f,h