Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1870-01-15

current receipts ana the low rate o.
lions. Il sounds well for both the
party In power aud for our credit.
And yet there is great danger that
In lie eageFness to cut down this
Indebtedness, the administration
may overlook the one thing now
desired above ell others by the
people, aud that iB reduction Of
taxation. Men Of all parties are
more eager to have their individual
burdens lessened than those Of the
Government. Their pride is gait
fled ct seeing the latter reduced,
but the reduction Of the former
will carry satisfaction home to
every one Of them.
The New Orleans PiCayune says
Of the rice crop:
Louisiana rice has again relapsed
into dullness. The Western de-
mand has been extremely light dur
ing the present season, and had
not the local requirements been so
large, prices must have reached Z
very low point. The receipts up
to date 1886 barrels and sacks
against 1913 for the correspond
ing period last year, an increase of
over forty-six per cent. Messrs.
TslmagO Sons In their last circular
say:
The crop of Louisiana we esti-
mated at $1,000 tlerces : later infor-
nation shows that the yield will
be In excess Of 10000. We believe
that later reports from other Sec
lions will also show an increase
over our former estimates, and the
whole yield Of the United States
be considerably over 10000 tier
ces. The crop before the war av-
eraged n0minally $4,000 tierces /:
the demand, however, L. much less
than at that time, the high price Of
rice during the war causing Other
grains such as barley, ETC., to be
used as substitutes.
The st. Louis (Mo Republican
Of Saturday says:
The provision market is COM
pletely demorallzed, and the quota
tiOns given elsewhere are merely
nominal prices Ut which orders are
filed. No transactions Of any mo-
ment took place yesterday, or ct
least none were made public.
There were free offers to sell pork
at $27. for present delivery, but no
takers, and no offers 10 purchase fol-
forward delivery.
Regarding the public debt and
specie resumption, we extract from
the New York Financial ChrOn-
icle:
In two different ways then have
we buttressed and strengthened the
public credit. First, we have SOL
EMMY voted in Congress that the
principal Of the principal Of the
deQt shall be paid In coin, and, Sec
ondly, we have diminished the out
standing debt by purchasing nine
ty millions Of bonds, which have
cost us our whole surplus Of over
one hundred and ten millions.
Moreover, the temporary loans
have been reduced, and these loans
have always been regarded With
some solicitude In critical emer-
gencies. AS to resumption, we
appear to be nearer to the goal than
for several years, gold having sold
down to 10, aud even lower. Is
there any prospect that gold will
go down to par, and stay therel
The volume Of specie currency
may fairly be presumed 10 be one
third more than 1t was in l84S.
By the well known law governing
the value of currency, one.third
having been added to the volumn
Of the currency, q considerable in
crease Is added to nominal prices
by the expansion Of the circulating
medium. According TO these rea-
sons, prices are adjusting them
selves all over the world to this law,
which regulates values just as the
law Of gravitation rules the mate
rial world. But for our California
gold mines the consequences of the
paper money imitation would have
been more severe, and it Is certain
that the supply Of the precious
metals has produced some changes
III prices, aud may produce still
greater changes. AZ we cannot dc
much just now with q view to
force specie payment, it is gatify-
ing to think that the laws Of nature
are perhaps about to bring US grad
ual relief, and will cause our OWL
gold products, by an unexpected
avenue, to bring our financial
barque to the haven Of specle pay
ment.