The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1877-08-06

IN, -FOUR PER CENIg- -1Ht SUGAR lRADL
AND IHE BnTR Trade,

1HE -FOUR PER CENTS IN EuRorE.
In their advertisements in the London
Times, the syndicate say of their tour per
cents: These bonds are redeemablc at
the pleasure OF the United States after
the Isl OF July, 1907, in coin OF the stand.
ard value of the United States on said
July IA, 1870, gold coin)," etc. SeCre
tary Sherman, IN an Interview with a
newspaper correspondent, held that this
advertisement did not convey any misre-
presentation OF the facts, although by the
law authorizing the issue OF the bonds
they were made payable in gold or silver
dollars. He believed no one advocated
the payment of the bonds now issued In
dollars OF less worth than the gold dollar
which is now the standard. He also dc.
clared that as the bonds in question had
been issued in exchange for gold coin,
they could not he redeemed by anything
but gold coin, or its full equivalent. Mr..
Sherman added that there could be no
question that all parties will unite in re
curing the payment OF this coin in gold
dollars OF . $40 grains, nlne-tenths
tine.
The New York Times comments
severely on these utterances of the Sec
rotary of the treasury:
"Under the law as it stands, the bonds
may be held to be redeemable in gold or
silver, and the syndicate expose them
selves to charge Of bad faith when they
convey to the London public different
version OF the contract. Mr.. Sherman's
argument that debt is payable in the
currency in which it is Contracted is
singularly unfortunate, and we can only
wonder that he fails to perceive the way
in which it may be applied against the
public credit"
THE SUGAR TRADE.
The sugar retinerS of the country seem
to have implicit confidence in the future
of sugar. They have loaded up heavily
with stock this year at about one cent a
pound higher than they paid last year.
During the past eleven months the i'm
portations have been 1920, 944 ,03j
pounds, against 1882, 0G0,7l7 pounds for
the corresponding period last year, and
the exports in round numbers only
80, 900, 900, against Sc, 100000, last year.
At present prices there Is no business
which returns larger dividends than
sugar growing in Texas or Louisiana,
Good sugar land can be had in either
state for So per acre, on time and low
rate of interest, and if the party pur-
chasing has enough capital TO work his
land properly he can more than pay tor
it out of the net proceeds of the first
crop. The profits on fifty acres of well
cultivated sugar cane are about $4,000.
Suppose half this be called expense, the
other halt, $4,000 would buy 500 acres OF
land at s. per acre, and would form All
estate quite large enough to satisfy the
wants and ambition of any reasonable
planter, inasmuch as 100 to 200 acres in
sugar amounts to big thing nowadays.
THE BEER TRADE.
English ale used t be imported in large
quantities to this country, bottled and in
casks, but within few years past the i'm
portation has not only largely fallen of
but American bottled beer is becoming a
very important article OF expectation to
countries where English ale and porter
were deemed invulnerable few year;
ago. Australia, Mexico, South America
Calcutta, South Africa, the East Indies
China and Japan are all freely buying
American bottled beer. II American
manufactures could be pushed as yigor
ously into foreign markets as American
beverages are, an advantage would b
gained tor this country OF which we nigh
well be proud. Our bourbun and Oh
beer do not make their way any NOR
7 readily than our fabrics and our ware
S where the latter are as energetically an
persistently offered as the former.