The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-02-06
COMMERCIAL MATTERS.

| COMMERCIAL MATTERS.
J Twenty-Five shipyards are silentin England
and it is estimated that II, 900 men are idle.
A number of shipwrights are on q strike.
; Mr.. Dawes says the words "March l, 1874,
in the bill restoring the duties on tea and
coffee, should read ''March l, 1875, the 81"
being clerical error. The design is to have
the duty take effect on the LIST of the coming
March.
;, The following is the exact text of the bill
now before the House of Representatives to
restore the duties on tea and coffee
Be 1t enacted by the Senate and House Of
Representatives of the United States Of america
in Congress assembled, That the duties and
rates OF duty on all tea and on all coffee i'm
ported from foreign countries on and after
the 1st day of March, 1874, shall be the same
rates of duty as were provided for, and levied,
collected and paid prior to the passage of the
act entitled can act repeating the duty on
tea and coffee, approved May l, 1872"
The Dominion Finance Minister, it is
believed, will yield to the request of the tea
and coffee importers of Canada and reimpose
the duty of ten per cent on tea and coffee i'm
ported from the United States.
| The Pacific Mail Directors are instituting
an investigation of their own, and are con-
WINGED that ST, 25O, 600 of the subsidy fund
was lost by President Stockwell in specula-
tions.
AS high as one per cent per day was paid
for money in the San Francisco market on
the 18th inst, when a break in stocks &C.
cured. The Alta California, of the 18th lust,
says: "Some persons may think that this
high rate indicates the price or value of
money in San Francisco on that particular
day. Not so-it Was the measure OF the Dor
rower's credit.
| The Price of Gold.
| The upward tendency in the price of gold
is the legitimate result of the shipments of
bonds back to this country from Germany
and the consequent export of gold to pay for
| them. This movement will be the CONTROL
ing feature Of the gold market as long as it
continues. The German Government wants
gold to fill its military chests in preparation
tor future wars as we'll as to keep up the pres
ent struggle with the Bank of France, which
is also steadily accommodating more and more
specie in its vaults.
But there are also other forces at work in
this country to cause fluctuations in the price
of gold. On the one hand, the recent finance
message of the President will probably be
discussed in Congress, and the talk about
specie payments will have some effect to keep
down the prizes. If the Seligmsu- Rothschild
| syndicate sell large amount of new bonds in
Europe that would lake a temporary large
supply of sterling exchange. which would
also have a tendency to 6epress the price of
gold; and this might be supplemented by the
throwing of considerable amount of cash
gold on the market in the redemption of the
called bonds.
| The gold receipts of the Treasury are also
increasing largely just at present, on account
WAREHOUSES; by dealers who expect an increase
of duty on certain articles. All these crcum-
stances, viewed singly, will be given as argu
ments to depress the price of gold. But, on
the other hand, there is the necessity of Ger
many for gold, as above mentioned, and the
great depletion in the stock of gold in this
country that has already been caused by the
recent exports. The Treasury has also ceased
to sell gold.-Chicayo Exchange, Sd inst.
The Tariff Changes.
Correspondence N Y. Commercial Bulletin.l
WASHINGTON, Feb. l, 1875
DUTY ON DRIED FRUITS.
A number of parties are working upon the
Secretary of the Treasury and Committee of
Ways and Means to cause an increase of duty
on dried fruits. The articles proposed are
prunes, Zante currants, raisins, dates, figs
and citron. Currants pay one cent pound;
it is proposed that they shall pay two and a
half. The crop is now mostly here. The
principal consumers of currants are the Eng
llSn lrlSn ana ScOtcn people.
During the war the price ran up to 80 or 40
cents pound Now they can be bought for
or Al cents. gold, in bond This article
comes from Greece. Prunes pay cent. 1t
is proposed to make them pay .. Dried
plums already pay that through B!odgetts
alteration of the tariff. The wholesale price
is about 10c Prunes come from Pesth, in |
Hungary, and from France, and are known
as French and Turkish prunes Raisins come
from Malaga and Valencia in Spain. A few |
also come from Smyrna. Efforts have been
out success as yet. They pay DC a pound,
which is about 40 per cent on the value.
Citron paws 81 per cent. The stock of this is
generally in speculative hands. Dates pay
1c Price in the market about SIC. The crop
is just beginning to come in. There is not
much desire to increase this duty.
There is q determined effort to make fruit
juices pay twenty cents per gallon. 1t is esti-
mated that the present duty on fruit juices
averages fifteen cents per gallon, but it is au
dd cdl0rem rate, and the importers are willing
to pay little more in order to get Il specific
rate.
ABOUT THE DUTIES ON TEA AND Golfer.
1t is generally conceded that the Finance
Committee of the Senate fayors the proposed
tea and coffee duty and the repeal Of the ten
per cent reduction of June 6, 1872. 1t is man.
ifesty the intention of the Administration to
press these sources of revenue.
The Sec etary of the Treasury now estimates
that the deficiency for the current fiscal year
will be about S12,O0O,000 for the sinking
fund, and about the same for the same pur-
pose during the fiscal year to end June 3d.
1876. That makes S37, 100000 he wants, and
he has estimated for S4O,000,00O.
The expectation on his part is that he will
get about $50, 200, 900 of increase. The sud
den squirt in customs receipts has been caused
by the withdrawal of all the low grade wines
from bond In addition, there are large
Withdrawals of little things, like bi-chrom ate
of potassia, etc all matters where increases
are made by the Little tariff bill.
After that bill is signed there will be q
number of Withdrawals of high-grade wines,
but it is believed that the receipts from du-
ties on still wines will then decrease largely