The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-11

the present export of wheat and -four is TWEEN.
ty-four times the value Of that for the average
OF the twenty years ending with 1910.
The cost of collecting State taxes from the
California Controllers biennial report ap-
pears that for the last fiscal year there was
allowed out Of the State Treasury to county
officers for auditing. collecting, apportioning
and paying State taxes, the sum of S201,
1926 divided as follows:
Assessors Observation-Disclosures. $63, 256 80
auditors. OBSERVATION-DISCLOSURES. 31,020 80
Lax cohectoIb. Observation-Disclosures. 4J, 36b ~
Ireasurers Observation-Disclosures. 58,272 81
Total. $20l, 1926 04
This is six and one quarter per cent of the
gross receipts from State taxation. The cost
is very excessive now that the State is calling
for up1ards of three millions year by tax
alton. On so large a sum as that the San
Francisco Bulletin thinks percentage of cost of
collection ought not to be more than three
per cent. at the most. And what is true of
California is true also of other States The
taxes would be fewer, if there were fewer peo-
pie collecting them.
Direct Taxation In France.
A large part of the French revenue is raised
by direct taxes. The amount 80 produced
during the first six months of this year was
43 1913, 600 francs-about So, zoe, 900 in gold
more than the estimates.
The revenue and movable property taxes
estimated to produce 3l,76O, 600 francs for
this year yielded IS 600, 900 francs up to the
end OF June last The indirect taxes have in
the same period yielded As, 600, 900 francs
above the Ministerial estimates The total
amount of direct and indirect taxes collected
exceeds by 63,OOO,O 900 francs the amount
under these heads in the first six months of
1874.
Tho Weather and Specu ation.
The same influence that has been exerted
by the weather upon stocks and speculation
in this country has been noticeable abroad
The London Times, Of the Oath ult., says:
The weather has had very powerful in
fuence on certain securities and markets, and
the long continued wet in France has weak
ened the spirit of speculation there very con-
siderably, SO that practically only national
stocks are for the moment firm. Here specu-
lative stocks may be said to have been almost
abandoned, so steady has been the flow of
buyers toward those stocks which are sup
posed to be benefited by the storms that have
The run in United States stocks and good
American railway securities has been very re-
markable, and has produced a rapid and we'll
sustained rise. Fivetwenties, which are
usually the least sought after of the United
States stocks because of the early date at
which they may be converted, have been
rising faster almost than the others.
American Commerce.
In commenting upon the statistics just
published by the Government of the foreign
trade of the country for 1874-'75, the New
York Daily Bulletin says:
The average Of the last two years shows an
increase over the yearly average of the five
years preceding the panic of $25, 900, 900 in
the imports, and of $135, 10000 in the ex-
ports. For the two years period there was
an average annual excess of exports over i'm
ports amounting to $50. $780, 900, and for the
five-year period q yearly excess of imports
over exports amounting to $50, 100000. This
great change in the "balance of trade" is the
natural result Of the check to the export Of
securities and of their return home, which
resulted from the shock to confidence i'm
parted by the panic, and it fairly represents
the extent to which American credit has been
affected abroad by that event.
At the same time these figures afford
comment upon the croaking about ruined
commerce now so fashionable. The average
yearly foreign trade of the country has been
10 per cent greater since the panic than it was
for five years next before the panic; and this
fact warrants two very important conclusions:
/. That the crisis has not caused the contrac-
ton in the volume of trade that is generally
imagined; and, g. That trade was not SO
inflated and overtrading not SO general before
the crash of 1873 as it is very commonly
represented to have been. These facts, to-
gether with the annual railroad statistics,
showing no decrease but rather an increase
in transportation movements, prove that there
is an important error somewhere in estimat-
ing the effects of the panic; for they show an
actual progress in the volume of business
transacted.
fran Rennrts
The Detroit Free Press says of the situation
on the Michigan Central Railroad:
The heavy rainfall extended the length of |
the railroad, and was much needed for the |
corn, potatoes and other crops. The weather |
no damage to the hay on the ground that was |
cut. The rain came just in time to make corn,
potatoes and buckwheat good crops. The |
wheat crop is nearly all secured the entire |
length Of the railroad, and the threshers are at |
work. The estimates Of the yield are from
twenty to thirty bushels to the acre on the
west half OF the railroad. The quality of the
wheat is good, and, as usual, will be improved
in color in going through the sweat that
bleaches and whitens it. Every field threshed
has yielded more bushels of grain than the
farmer expected, in most localities. The oat
crop is nearly all cut on the west half of the
road, and respectable portion secured. On
the east half portion of the oats are cut and
q small portion secured. One week of good
harvest weather will secure tie larger half of
the oats
But little old wheat has been marketed DUR
ing the past week. but in few of the towns
on the west half of the railroad considerable
new wheat has been taken.
Years Work In the MINIS.
WASHINGTON, Aug. 4.-The operations of
the United States Minis at Philadelphia, San
Francisco and Carson City during the fiscal
year ending june 80, 1875, were as follows:
Number Of gold pieces coined, 1,739, 062;
value. $50, $50, $685. number of silver pieces,
%, 823, 2l6; value, $1,000, 1858; number of
minor pieces Give. three and one cent?, A.
629 500; value. s233. 375; total number pieces
coined. 80. 1871, ITS; total value Of coinage,
$43, 1854. 708. The coinage of trade dollars for
the fiscal year ending June 80, 1875, exceeds
that of the preceding year by 50, 1OS, 500, and
y,on than hal ho onfypo Noiuaoo 0f