Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-09-03

would not.be more than $40 for EACH
The total wealth OF the country IN
1850 was S., I35, 1925; the total wealth In
1860 was SIG. l59, 6I0, COS. Taking what ap-
pears to be the present law Of increase,
the wealth OF the country for the next
four decades would be ~ follows:
Year. wealth
.....-.. S35,5g3, 459,5S5
$3.50. S2,S6j, SOS, Sis
lsSO-----.---. -- .--.-. II. 'olfo1os--
4-S,5J0,4 aorLo
Letting the debt remain at the present
figures. il would sustain the following re
latiOn TO the wealth OF b country Al
these several periods:
isSS5el.-sssomoo0.col q about
Is 100000 s2.sooOoo0O -@} about about
Is0--s8,e0W0oUoJ j.c5 about.
In thirty years the relation Of the public
debt to the wealth of the country, accord
ing TO these figures, would be one-half OF
one per cent.
UNITED STATE TREAsURER's CURRENCY
STATEMENT.
The following has recently been issued
from the office of the Treasurer Of the
United States, at Washington:
The Treasurer holds as security
for national banks for circu-
10, 5JO
For public deposits-- 1850, 5OU
RECEIPTS fri currency for week. $4,000
Shipments of nOtes.-.----.----. 6OZ,t5o
Fractional currency. .-... 4ll,S2
and Destroyed during week 5sS,sOO
AutilGted bank notes burned
during the week-----..---.. 241 $50
Total amOURt burned. go. 2,l54,0ls
Bank currency issued for bills
destroyed during the week $685. 40
Bal'ce due for mutilsted notes 525,503
Bank circulation outstanding
At this ZS9,bSS,4US
Internal revenue reefs to-day 4SO,oS9
Receipts for the month.--..-.... 1890, 80
Total for the year.--.------.- 81 ,0O4, SSS
Internal rev'e seizures to-day. 6,y73
The following are the new rates Of first
class freight 10 leading points in the
New York to New Rates. Did Rates.
CleveIsnd--- per lOOlbs.$ IS 81
Columbus, Ohio-~----.-- Y 40
Cincinnati...-.---. ...---.-...-..- ~ 40
lndianapoIls------------. " a
EvRnsyille---.--... ---...-...-.. l 10 81
LOUISVILLE, hy----------.-. 1 L %
st. Louis Mo-. ..-----.. l . %
Quincy, B. l . 81
st. Joseph, Mo-.----.--... 1 az IA
Chicago, 1---.-------.-..- 1 90 %
The following are the rates by steam,
10 New Rates. Old Rates.
Detroit, Cleveland and To-
lido 50 s 80
Chicago and Milwaukee % IS
The Erie and New York Central man
N are said to have also agreed to
not extend their transportation contracts
and privileges with the United States and
American Express Companies, and that
these railway corporations will o 20 es-
tablish express departments themselves
over their own several rail lines. The fol-
lowing are the rates from leading points
in the West 70 New York:
To New York from
Cincinnati. - per ton OF 1000 lbs. 80 90
Indianapohs---s---- ------ > Oe
> ~
81. LOulS--.------.--. ...-r--.-..-..-.----.- y 81
NEW ISSUES or CURRENCY.
In reply to a letter from the New York
Bulletin, addressed to Hon h. r. Hulburd,
relative 10 the issuss of bank circulation
under the Currency Act of last session,
the Comptroller remarks: 1.-THE o
of currency that will be issued to new
banks, and the amount of 3 per cent Ger
tiheates, redeemed during what YOU call
the critical season Of the year, will be very
small. 1 am inclined 70 think that the
entire amount that will be issued between
now and the lst Of December, will not ex-
coed 81 100000"
IMPORTANT II MEMPHIs IMPORTERS.
The Customs Bureau in the Treasury
Department and Secretary's Office are
very busy in preparing regulations and
arranging details necessary to begin the
TRANSPORTATION Of imported goods in bond
between owners of various parts OF the
country il has been found 20 require
many Unforeseen changes and prepars-
tons; a. vet rules relating 70 methods OF
securing such goods on steamboats, have
not peer completed. Upon all lines Of
railway iron cars are to be first provided
by the companies, and these are 10 be fur
nished with a lock designated by the Sec
rotary OF the Treasury. The Department
has also to decide upon the lines over
which this class OF merchandise is to be
transported. Along these routes suitable
inspectors are TO be selected and appoint
cd, and altogether the new machinery 70
be set IN order to carry out the new law
efficiently is found 10 be very extensive,
and several weeks must elapse before the
work under il can begin.
THE MONOPOLY.
The New York American Grocer has
the following Just and timely structures
upon the consolidated railway monopoly
OF the East. That journal says: with
in the past week the New York Central,
the Erie and the Pennsylvania Central
railroads have formed q combination
Ensc1 uUOA a tbh5dAlln OF uOsLlllALbH. n
withdrawal Of all suits at law, and a d.
vision Of freight and passenger traffic, the
result of which is already seen in the adj
Vanced rates Of freight, about one hun
dred per cent over those Of last summer.
This enormous increase OF burden falls, Of
course, upon the producers and consumers
Of the country, and intermediately Affects
all classes Of business. When it is known
that the sole object of this stupendous
combination Is 70 enrich a few already
immensely wealthy railroad magnates,
that this consolidated monopoly is all
powerful, controlling the legislative and
executive departments Of the States
through which the roads IN and b IA
there = absolutely no protection against
the grasping cupidity Of these autocrats,
the heart sickens at the prospect. The
history Of the development Of railroad
power in this country is but q record of
~monopOlies, eXactions, c-Ombinstions,
broken stockholders, enriched directors,
thieviDg managemeB.s, subsidized States,
outrageous Congressional land grants,
oppressed industry and manufactures,
and an Overburdsned people.
THE LOUISIANA STATE DKBT.
We copy from The Radical organ of
Louisiana the following, showing the ac-
tnAl debt of that State, how il was made
and how it has been provided for:
Tie bonded QeDb OF Inc SbAle on
LIST January, 1867, amounted TO &, ASS, 800
Four millions Of bonds author
lied 70 be issued under act
No. lis Of 1867 .,-..-.. ...-.....-.... 4,000,0 00
Bonds issued 70 fund past Tue
coupons Of Interest under act
No. lis Of 1856, about---..-.. $4,000
Total State debt when the Rad
icals took posession--...a.... 5000, 500
To which the Radical Legisla-
lures Of 1850 and 1870 have
added
Bonds already issued ......- T,5S3,060
Bonds yet 20 be issued under
sets OF those sections, about. 10000 {
Total state debt. SIS, S48, $50
Making al expenditure during
the past two years Off,. SIS, $50 $50
besides an Endorsement Of bonds for rail-
roads and other mOnopolies Of several
millions additional for which we must
eventually become responsible.
To meet these expenses our State taxes
now stand rs follows:
State and Parish School Tax.....4 mills.
Chattanooga railroad -..-.--~....1 mill.
Poll and License, about.---.-..-.l per Ct.
Olty %
.... ...........-l z
metropolitan Polce--."-".---~.