The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-11-15
Commercial and Financial Matters.

Commercial and Financial Matters.
For several DAYS past we have noticed on the
market boxes of dry sailed pork. received here
from Chicago. This is an unusual manner of
sending pork to market, and we are informed
that. ON this account, it does not meet with
very favorable notice from buyers.
The accounts from the country are very ia
yorabe, and the expectations of our sugar
planters which were at q low ebb few days
ago, have experienced great and gratifying
change. The cool days and few white frosts
they have recently had. have served to rapidly
ripen the cane, and many of them are rolling
with very good results. We have heard of seve-
raj instances of one hogshead and half being
made to the acre. which is O remarkably good
yield at the commencement of the rolling sea-
son. A few more days such as we have recently
had. will make the crop an assured success.
The losses of shipping are annually very
large. Without taking any account Of the
coastwise craft 1t may be stated that the losses
of ocean sail tonnage exceed 1000 vessels of all
flags every year. Last year they were placed at
$780, in 1875 at $780, in 1874 at 2O93 in 1873 at 1885,
and in 1872, when the losses were the largest
ever before known. there were 2547 vessels since
1868 10000 vessels have been lost at sea. In the
memorable 1872 we lost 1899 sea-going vessels,
and Great Britain 1928. The losses of sea-going
steamers range from 165 to 200 annually, and in
1874 the number was 244. The estimated capital
invested reaches the sum of 5000, 100000
Novel Proposition.
There has been much of good humored COM
ment and some sarcasm INDUCED in through
out the country on measure recently intro
duced in the United States House of Represent
nAtx hrf ha uayriH ~ Nnr I'll
formerly the we'll known chairman of the Ma
tional Democratic Executive Committee. Asa
politician occupying such high and command
ing position, Mr.. Hewitt unquestionably show
ed that he did not possess the requisite acumen
and nerve to enable him to creditably or sue
cessfully discharge his duties as the represent
alive of great party. But he has embarked in
a new field of action in which, we think, he may
display more ability and reap more laurels.
Corn-not in the juice-is now the subject of
his story" 1t is we'll known that we, in this
country. grow nearly as many bushels of corn a
year as there are dollars in the national debt or
thirteen hundred and fifteen million bushels.
Our annual exports to Europe barely reach
6o.0Oo.ooo bushels. Mr. Hewitt desires to ex-
change some of our surplus of 100000, 900
bushels for gold or credit with Europe.
At fifty cents bushel. here is s645 900. 900. Al
and feed, there is still an immense margin for
export. Now. Mr. Hewitt comes boldly forward
with an evidently well considered plan of es-
tablshing an American kitchen at the Paris
Exposition, with the view of introducing to
Europe our methods of cooking Indian corn.
There are many forms In which corn can be
prepared that are really delightful to the taste.
and as an article Of diet 1t Is wholesome and
rich in nutritive properties. II the poorer
classes of Europe could be brought to eat it,
the gain to them. in new and cheap article of
food, would be great. while we should send
thither @ larger fraction of the surplus of one
Of the great crops of our country. If Mr..
Hewitt succeeds In his scheme. we will throw
the veil of oblivion his past political short
eomings, and proclaim him to be the benefactor
of the farming interests of the Union.
Army TRANSPORTATION, cost last year $500 600
the figures will be higher.
Ohio has 3s1 900 acres of apple orchards, and
raised this year 1870 900 bushels OF apples.
The unsurveyed public lands comprise 1.1o1-
7.1ss acres, Instead of giving, any more Of
this domain to greedy corporations. it should
be set apart to aid the cause OF public education
in the States.
The Largest LandhOlder I'm America.
Boston Herald
Probably the largest landholder in America Is
ex-Gov. Coburn, of Maine. Incredible as 1t may
acres acres. divided up as follows: Maine $4,000
acres: Canada. 1$5 900; WISCONSIN 5000; d. Las
kG u u be rae n &c.
kota, and was taken OF the Northern Pacific
Railroad in lieu Of stock, in which road ( he in
had just returned from the West. whittier he
has been to look after Mr.. Coburn,s interests
and see about the last purchase. He reports
the land In Dakota as among the finest held by
fhe Governor He says it is well adapted to
growing cereals, and fine crops of wheat have
son n. The Governor is said to be besieged with
beggars of both high and low standing. and
scarcely day passes but he receives letters ts rs
and charitable Institutions. He Is reported as
giving away upward of $780, 900 per annum. Mr..
Coburn is probably worth s6.O0O,0oO.
Exemption of savings Banks from the
Government Tax on Deposits.
case is now pending before the Treasury
Department which promises to clear up some
antiquities in the law relating to the taxation
o bank de- 1t tns @p TO
sidered as exempt from the tax OF Ia OF ! y
cent per month required to be assessed on de.
to the general law VIII ich was. passed in June
1874. Some time in August last. however. the
ruling Of the department was reversed. it being
not recognized as such by the Illinois laws. and
moreover were engaged in regular CONNER
cial business. Accordingly. assessments aggre:;
about a similar sum to be taken from them
been thus Unexpectedly assessed have since
failed. SO that If the tax is collected it Will pc
taken out of the meagre assets from which i. tht
this will be In effect levying tax en- depositors
instead of on the banks. A Chicago lawyer
made an argument before the Secretary OF the
- Treasury on Tuesday in the interest of the de-
positors, and urged that the. point that the Chi
cago savings banks were not recognized as sucf
by the State laws amounted to nothing, be-
cause of the fact that there is no savings bank
law in Illinois while he claimed that the points
ment standard were not of sufficiently mate
rial kind to forfeit their exemption from taxa
ton. It is announced in the Chicago papers
that If Mr.. Sherman does not release these
banks from the assessment. application will By
made to Congress for a special bill OF relief
--ISt TpuiS Rapuhlicap