The New York herald., 1873-09-17

Strtngcnoy I'm tho Money Market -
Chile and Peru-COmmerctalF Faiiuros-
The Railways-Industrial Exhibition
Ruies-Rovolation Suppressed.
PANAMA, Sept 8, 1874
Dates from Valparaiso to the 23d OF August, six
days later than the regular mail, have been "a.
ceived here.
Chile, like Peru. Is suffering from a great strtn-
gency in the money market Some faiures arc
reported and others are expected. The country Ia
In q prosperous condition and the monetary
troubles are only OF q temporary nature.
RAILROADS.
Two important bills have been passed by Con-
gress; one empowering the government to ex-
pend 81, 100000 in the purchase OF new rolling
stock for the Southern Railway. and the other au-
thOrizing the government to purchase the stock
held by private individuals in the same nne.
Work on the Mejlllones Railway has been inde-
fnltely suspended
commission consisting of the following gentle
men has been appointed to revise the Custom
House tarin:-rhe CHIEF valuer OF the Custom
House, Don Manuel J. Tornero. .vauer; Don Luis
de Ferart, valuer; Messrs. Victor Bonnemain,
Diego L. Bennett, Antonio Calvarez, Triton Saias
and GregOrio CuitihO.
THE INDUSTRIAL EXHIBITION
MacMnes ior agricultural purposes and for use in
arts and sciences, Intended for the exhibition Of
1876, will be admitted Tree OF duty.
SEVERE STORMS
The southern provinces have been visited by
severe storms OF wind and rain, causing consider
able damage anoat and ashore, and some loss OF
life.
MINING.
Advices from Copiapo say that emigration TO
La Florida continues as strong as ever Rumors OF
new discoveries arrive almost daily. Don jose
VictOrino !4astarra arrived on the 10th inst and
confirms the reports or the extent and richness Of
the discovery OF silver at that place. new find,
near the PuquiO6, and discovery OF gold in the
Sierra Peubla HundidO, are reported. The speci-
mems brought by the discoverers are very rich.
RAILWAY SPECULATION.
The Valparaiso MerclyfO OF 18th August, says
petition has been presented to Congress by Messrs.
which Is TO extend from Buenos Ayres to the
Andes, within the limits OF the Province OF Aeon
cagua, by way OF San Juan and Mendoza, will ccSt
500, 900, 0OO That, on the line most advantageous
practicable routes-thOse Of Uspallata and Los
Patos; that the first OF these requires the opening
OF tunnel 5000 and the second one 5000 metres in
length, ana also the laying OF roof over the road
desire to substitute the guarantee by q yearly
grant OF $1500O0, In six per cent bonds
or the public debt, and one per cent
sinking iund binding themselves 10 pay the above
shall exceed six per cent interest on the capital
invested in the extension OF the line. The grant
would be paid at the end of each year, after examt
nation Of the yearly balance OF the company allow
ing the contractors their proper share and dur
ing the te OF the privilege should turn out that
in one or more years the proceeds exceed seven
per cent interest the cost OF the railway calcu
lated Tor the effects OF the law such increase shall
be applied to the reimbursement OF the amount
previously paid by government on account Of the
grant. Government may Intervene In liking the
tariff of prices whenever the net proceeds shah ex-
ceed the twelve per cent to which 1t refers.