davidaulloa/AmericanStories huggingface dataset:
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29

the. HOUSE respectively. BE- md are hereby
authorized to select from shid calendar such
bills as may he them considered OF greater I'm.
poftHnee to tho Htfttb. mud dbt6rtsinB the order
In which they should DO fnken up, .shd bills 40
selected 70 have preference over oil other bills
now pending.
In accordance with tho said concurrent feso-
luton the Speaker appointed on tho part of the
House MeHsrs. Aldige Hyland. Jonas. Kelly OF
VIM and Eatopinal
Tho journal Of March agth was approved.
Mr.. Jonns, chairman, on behalf of tho Com
mittes on the Judiciary. reported MS follows;
Favoraby on House bill Mo. $780, An not to
create and re.sstahlsh tho Superior District
Court for tho parish Of Orleans, and define the
jurisdiction thereof; TO provide for the appoint
mont OF Judge and clerk Of said court 10
transfer tho records oftbs late Superior District
Court and 10 define the jurisdiction Of the dis,
trict courts for tho parish Of Orleans In regard 10
the wfits OF Injunction mandamus and prohibi.
ton
On motion OF Mr.. Hill House bill No. $685. IAN
net for tho relief OF taxpayers Of the CITY Of Now
Orleans. 10 absorb tho floating debt. the unpaid
interest coupons, school warrants and oil owl.
dspess OF debt and other claims against shid
city, and TO authorize and require the city oil
New Orleans 10 reeover such indebtedness In
payment of certain taxes Of the city Of New Or.
loans. due prior to tho ist of January 1876" was
taken up on second reading.
On motion OF Mr.. Greasy, the consideration o.
the bill was postponed, and made the special or
dor Of tho day for Wednesday. March 10. ut =. m
On the motion Of Mr.. Greasy. tho House ad
iournod. a .a.,......,a
Chief Clerk.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29

LAWS or THE STATE or LOUISIANA.
PUBLISHED BY AUTHORITY.
EXTRA SESSION or 1877.
AN ACT
No. 25.1

10 amend aud rs.enast section Eve of act nun =
Der twenty four, an act to abolish the par
ish or Carroll, and To create aud establish In
lou thereof the two parishes Of East Carroll
and West Carroll. providing for the organi-
zation u said two parishes, and fixing their
representation In the House Of Aepressnta-
tiyea.
esertos |. Be- IL enacted by Hte Senate and
House Of Representatives. If the Hdte If Louisiana.
IN General Assembly o0npened, That section Eve
Of act No. "a, passed nj the present session
Of tho General Assembly, be amended and 70.
enacted 10 ~ to read ns follows That on tho
last Monday in April. 1877, an election shall BIO
held by tho qualified voters OF the said parish Of
West Carroll, for n parish judge, oerk OF the
District o urt, sheriff, recorder, coroner,
i've justices OF the peace aud five police Jurors
from tho parish At large. whose powers
tho same ~ other ~ like officers through.
out the State; and tho officers thus elected
and commissioned shall forthwith qualify no.
cotding TO law, and enter upon tho discharge OF
their respective duties. and shall continue In Office
until the election and qualification OF their sao"
eessors. and to further carry out tho provisions
Of this section tho Governor shall, upon the pro-
mitigation OF this act. appoint supervisor OIL
registration for said parish Oh West Carroll who
shall held the election herein provided for and
make return according TO law.
That all parts OF said section Ave Of act "A In
consistent herewith be repealed, and that this
section shall take effect from aud after ito pas
sage. -. -
tsignedll , LOUIS BUSH, ...,.,...
tsignedl LOUIS A. Witt, .ssp@
Lieutenant Governor and President Of tho Senate
Approved March 20, 1877. -
(signed) FRANCIS +. NICHOLAS,
Governor Of the State OF Louisiana.
Viii A. sraoso.
Secretary OF State,
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29
AN ACT
No. 31.l

No. 81. AN ACT
To authorize the police jury TO provide for
funding the floating indebtedness Of tho
parish Of Claiborne; TO verify the legality Of
and to provide for the payment OF the prin-
cipal and interest thereof, by special tax
for that purpose, and TO limit the rate OF iu-
terest on said Indebtedness, and to prohibit
suits against said parish, except In certain
cases.
SECTION 1. BE IL enacted by the Senate and
House Of Representatives Of Tie State Of Loutsi-
ana, in General assembly coHDe,led, That the
police Jury OF the parish OF Claiborne be, and
they are hereby authorized to fund the outstand-
ing indebtedness OF said parish TO an amount not
exceeding twenty Thousand dollars, by issuing
bonds Of the parish therefor. maturing In not
less than five years, nor more than ten years from
the date OF their issue, and to bear interest at
centum, nor less than five per centum, as said
police jury may fix.
SIC. 2. BE ii further enacted, etc., That all
Claims Of Indebtedness against said parish shall
be submitted TO q board OF audit. composed Of the
president OF the police jury, the parish judge,
the recorder OF the parish, the clerk of the Dis.
| trlct Court, and three other taxpayers Of said
parish, to be chosen by the members OF the
board above designated, and that each OF the
members Of said board shall take an oath before
| entering on the discharge OF his duties as such,
| and to faithfully perform the same, to designate
for funding all such debts "a are legal, and re-
iect all others.
SEC. 3. Be IL further enacted, etc., That in
case the police jury Of said parish accept the pro-
visions Of this act, by passing an ordinance to
that effect, the members Of the board OF audit
above designated shall, at time to be dxed in
said ordinance. meet and take the oath above
prescribed, and proceed to complete the board
by selecting the three additional members.
SEC. 4. Be ii Jfbt,thnr enacted, ETC., That the
board shall organize by electing one of their own
members az president, and shall also select some
suitable person to act as secretary Of the board,
who shall take an oath TO faithfully fulfill the
duties thereof. Five OF said members shall con-
stituse d quorum for business, and in casa va
cancy occurs in the board it shall DO filed BY the
police jury Of said parish.
SIC. s. Be It further enacted. etc.. Thai when
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29
AN ACT
No. 80. ]

No. 80. AN ACT
To limit the appropriations and expenditures OF
Parishes and municipal corporations; TO pro-
hibit the issue OF warrants by their officers. 10
permit police jnries TO make certain con-
tracts, and prescribing certain penalties.
| SECTION l. 10 IL enacted by he Senate and
House Of Representatives. qfHe State Of Loutsta,td,
IN General assembly concerned, That no police
jury of any parish, nor any municipal corpoi alton
| i'll this State, shall make amy appropriation Of
money for any year which appropriation separate
ly. or together with any other appropriation ap.
preparations OF tho same year, shall be in excess
Of the actual revenue Of SAID parish or municipal
corporation for that wear,
Bno. .. BE II fu,tl.erf enacted, etc, That no
police jury Of any parish nor municipal corpora
ton In this State shall approve any claim or make
any expenditure which shall separately, or to-
gether with other claims approved or ezpsndi-
lures made, DO In excess Of tho actual revenues
| OF that yesr.
sEo. 5. Be il further enacted. etc., That the
revenues OF tho several parishes aud municipal
corporations Of this State, OF each year, shall be
devoted TO the expenditures Of that year; pro-
| ytded, that any surplus OF said revenues may be
applied TO the payment OF the indebtedness Of
| former years.
SEC. 4. BE afurD,er enacted etc., That the po-
leo iurles OF the several Parishes 10 this State
may and are hereby authorized and empowered
| to contract for fixed and determined sums OF
! money with those officers who receive In compen-
sation for services under existing laws, fees, COM
missions or mileage from shid parishes, prODtded,
tho compensation allowed shall not exceed fifty
per centum Of the fees allowed by the laws Of the
State.
SEC. B. he il further enacted, etc That no (evi-
denee Of indebtedness orr warrant for the pay
ment OF money shall after the first day OF Oeto-
Der, eighteen hundred and sevsnty.Hsvep, be
issued by any officer Of any parish or municipal
corporation In this stae, except against money
actually IN the treasury OF said parish or NUM-
cipal corporation. ANY psrson vioatingth the pro-
n
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29
BY Hoey, Macon e. O'Connor.
CHOICE FAMILY RESIDENCE,

CHOICE FAMILY RESIDENCE.
No. a07 st. Andl CIV street, between Prytania and
Coliseum.
Small Cash Payment and Long Terms Of Credit.
pY HoEY, MACON q. o'COEgoRt- Nicholas
- J, Hoey, Auctioneer-Office, IL Carondelet
street-SATURDAY. April 7. 1877, at IL o'clock
M, at the st. Charles Auction Exchange, will be
'' HE n pqHPhsg fse5l&GhE rwo-sToaY FRAME
DWELLING, 3G7 st. Andrew street, In the
square bounded by Ut. Andrew. Ut. Mary, PrY-
tania and Coliseum streets, designated as ies
No. 49, and measuring 30 feet lines front on
ST. Andrew street, III feet IL inches IL lines in
depth on the side Of lot No. 0, liz feet fnehesT
lines IN depth the other side line, and 81 feet
in width ON the rear line. The improvements
comprise a neat Two Story Frame Dwelling, re-
tired from the street, with open iron fence front.
sufficient side way and openings TO the south.
has hall and tWo-story wing, and q 0ne-story
frame building across the rear Of the lot The
location ls pleasant and OF easy access to bust
ness, and is adjacent 70 the splendid residences
OF Col. Louis Bush, G. II. BuIdecke. L. b. Cain
and Ed. Conery, Esqs. Possession Of the prop
erty can be had at once
TEgMs-One- fourth cash, and the remainder
ON one, two and three years credit with inter-
est Of per cent per annum from date q save
until final payment, with all the usual seclflF
clauses and Insurance and transfer OF goIscys
over and above his bid Of all taxes payable this
Acts 81 sale at the expense Of the purchasers
before II. b. TrisE Esd. Notary Pubic.
mhl7 IS 2A15 2ltd
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29
AN ACT
No.s26.l

To repeal an not entitled "An act 10 fix tho sails.
rios OF tho Chiof Justice and Associate Jus.
tees OF the supreme court" approved Feb
rusry twenty-seventb, eighteen hundred and
seventy-one.
sECr1pN /. BE enacted By he Senate and
House Of Representation 81 Me State Of Louist.
ana, IN General Assenby e0npened That the
aot Of tho Legislature entitled IAN act to fix the
salaries Of the Chief Justice and Associate JUS
toes Of the Supreme Court" approved February
twenty. seventh. eighteen hundred and seventy
one, be and the same 10 hereby repealed. And
the said Chief Justice and Associate Justices
shall receive their salaries fixed by article seven
ty-hve Of the constitution, to Wit: The Chief JUS
tioe shall receive an annual salary OF seven thou
sand five hundred dollars, and the Associate JUS
tices m annual salary OF seven thousand dollars,
payable quarterly on their own warrants.
SEC 2. 10 II further enacted, etc., That this
att shall take effect from and after it's passage.
(5gned) LOUIS BUSH,
speaker Of the House OF Representatives.
tsigned) LOUIS A. WtLrI,
Lieutenant Governor and President OF the Senate.
Approved March 28, 18TH
(signed) FRANCIS T. NICHOLAS.
Governor OF the State OF Louisiana.
A true copy:
WILL A. sTnosd,
secretary OF State.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29

seal, with suoh device and inscription ~ they
shall deem proper. and the same 10 break, alter
and amend ut their pleasure; aud by the name,
style aud title corporate 40 aforesaid. they shall
BIO known In law aud shall be able and eompetsnt
10 sue and be sued, plead and BIO implsaded In
any court or courts, before any Judge or judges,
In any manner OF SUITS complaints, pleas, causes,
matters and demands whatsoever, whether the
same arise OF any rule or bylaw now adopted or
hereafter TO be adopted for their government or
otherwise. and all and evsry matter and Thing
therein to do in ~ full and effeatual manner rs
Rny other person or persons, bodies polite aud
corporate In tnis State may, or can do. and they
arc hereby authorized TO make rules. bylaws
and ordinances, 10 levy and collect fines and ar
resrages, and 10 do al ether things nssdfnl for
their good government and usefulness ~ fire
company pr6tidad, however, that said rnlsa, by
laws ard /, ordinances be not tepugnss,nt. se Y
the constitution and laws OF the United
States and Of the constitution and Laws
Of this State, or the general Objects Of
this corporation 40 fire company; that they, In
their corporate name Of Jackson Fire Company
No. ID OF the city Of New Orleans, shall be able
and competent to take, receive and hold oil, and
oil manner Of lands, teBemsnts, rents and hsredi.
tahients, aud sny sum or sums Of money, and any
manner on proportion Of goods and ehsttsls given
and beqneathed unto them, or acquired by them
In sny manner, TO be employed or disposed OIL
| according b the objects Of this corporation. 5r
according TO the constitution, rules. bylaws and
ordinances, or tho will and intention Of The
donors; provided, that by this act Of inoorpora
| ton they shall not In their corporate name al
aforesaid hold, Ut any one and the same time
property or money Of . value greater than thtrt,
| thousand dollars.
| HEe. q. Bs IL FURTHER enacted. etc.,, That thi'
charter OF iueorpora alton shall be aud continue Ii
force for the term Of twenty years. and shall take
| effect from the passage OF tho same.
t5igned) LOUIS BUSH,
Speaker Of tho House Of Representatives
(Signea) Louis A. WtLrz,
| Lieutenant Governor and President oil tho Senate
| Approved March 40, 1877.
tsigaed1 FRANCIS T. NICHOLAS,
Governor OF the State OF Louisiana.
| A true copy;
| Will 4. 5TnoNa.
Bsnrstafy of Hthts
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29
Ey q. ". GIrardey.
SUBURBAN, rLAHTAT rGGN o1TYrnorgE-

SUBURBAN. PLANTATION. cry PROPER
SUGGESTIONS OF L. i. dENEREs AND ]. 3.
Jeonee Abat. members Of the Iats firm Of
hbat h deneres.
Second District Court for the parish Of Or
leans-Nos. 1894 and 2s.5eo
pY @. II. GIRAEDEY. Auetioneer-.oface No.
- 81 Camp street--SA1 UEDAY. March 81.
Hotel i4 this city. will be sold at public auction.
by en an IN Of tw n eeysra orders o
District Court for tho parish 81 Orleans. dated
he . tWe sh Of Fe9rasry 1s77 and rendered
oG T. 6R REFSYRsfN fE Ft OF LAND TO
gether with oil the improvements thereon.
longing Of, In any wise appertafning, situated
on the right bank of the Miasissippi FLYER. In
the parish t Of nor Orleans; about eieht miles Pc
deep between convergine ,lfnes. oil more Or
ou ssayogaT e Dated S"n Ap sz j. es
formerly belonging q John b. Lepretree, and
ing to. John Flathers. Said properly Is sold,
sutieet 70, lease ut the rate Of 30 per month
until October -, 1877. Together With 20 shares
OF the Consolidated Painters OF Louisiang. on
w T. sh9 Gsh Il e 2"P soUAgE OF GROUND
situated In tho Second District Of tho city, and
bounded by Cont Bienyflie. Genois and
Clarke streets, designated by the Number tOs.
as per plan by q. r, Dunbar, dated the f2th De-
cember, 1913. undivided into twenty lots, from
T. e % ,p sH1EEs OF THE rEHuASrEpxo
L.. Is SHARES OF THE PACIFIC RAIL-
6. ONE SHARE OF GOOD INTENT TOW
Doat Association,
TgRMg-Cash on the spot.
Acts Of sale ct the expense Of the purchasers.
before Jules Messy, ESQ.,. New Orleans.
mh3 10 II 81
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29
AN ACT
No. %. !

Entitled An act TO incorporate Jackson Fire
Company No. Is, OF the city OF New Orleans.
SECTION /. BE ii enacted by The Senate and
House of Representatives Of The Slate Of Louisi-
ana, in General Assembly conuened, That J. ].
O'Brian, NJ. Z. Reyes, Thomas Hassam, D. III.
Kelly, John Fl. Hodgins, z. II. Wilde, w. T..
Riddle, William Dastillian, T. B. Doulan, Chris.
others, not exceeding one hundred in number,
residents OF the city OF New Orleans and State
Of Louisiana, and their successors, be and they
are hereby constituted body polite, with all the
powers, privileges and immunities OF body cor
porate, 40 far as the same relate and appertain
to the general object OF q fire department, under
the name and style OF the jackson Fire Company
No. 10, Of the CITY Of New Orleans. That they
and their successors shall have power and author
ity TO naks. have and use commmon
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29
SEALED PROPOSALS.

DEPARTMENT or COMMERCE.
Cry HALL
New Orleans, March n, 1877. }
Sealed proposals for the collection OF the rev.
emu OF OF tho following mentioned public mar
kets for the month Of april, 1877, will be received
at this Office up to 70 o'clock m. on THURSDAY
March 20, 1877:
French Meat Market.
poydras and pelie Markets.
IRENE Market.
Magazine Market.
The amount Of bids In u. 8. currency to ac-
company the proposals
The city reserves the right TO reject any and
all bids. CHAS. CAVANAC.
nh27 2s 30 Administrator of Commerce.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29
NOTICE-CITY TAXES OF 1877.

DEPARTMENT OF FINANCE, !
City, Hall,
New Orleans, March "a, 1877.
Tax bills for 1877 are now ready for delivery.
The following rates Of rebate for prompt cash
payment will be allowed:
Three per cent on all bills paid up to 31st OF
March, 1877. inclusive.
Two per cent on all bills paid up to 18th April,
1877. inclusive.
One per cent on all bills paid up to 3oth April
1877. inclusive.
After April 80. 1877, interest at Ten per cent
per annum from 3lst March. 1877. and costs. will
accrue.
mhz2 a30 J. G. DENIS. Administrator.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29
JEFFERSON PARISH FARM
and
THIRD DISTRICT PROPERTY.
gUCCgssiON8 LOUIS LALONIER AND Mflss.
l.. CAHMOUCHE HIS WIFE. BOTH
DECEASED, CONSOLIDATED.

Second District Court. parish Of Orleans
Docket No. sg.3ee.
10y NASH b H0DdsON-W. l. Hodeson.
On SATURDAY. Aprii III, isT7 nj IL oscoek ~.
at tho Bt. Charles Auction Exchanges, i'm hi,
basement rotpnda Of tho st. Charles Hotel. In
d the Hon. A. L, Tissof. Judge of th h Bscona
District Court for tho parish Oh Orleans, dated
March "a, 1877, court docket No. 1926, for ne
count o. ths above SUGGESTIONS vt public aueton-
IA VALUABLE PORTION or GROUND,
together with oil the buildings and improve--
thls city n the SQUARE NJ, q, bounded by Glrod.
the nall Of lot No. t72. which measures In French
measure "a feet inches front on Girod street, by
depth OF 100 tset, oil more or less, and is
bounded "a, On the s,d9 neSt 70 FFepehman street.
py the giher half Of SAID lot, belonging TO thS
b. Dareantei. ns per oct before JOSEPH Cuae I
n2sasy 9EhfeS F sa ga III p t rSREa55 ~
aAOUND, together with oil the buildings and
rgG thereon NJ says ana except those
Entii9 Lalonlsrl. situated on the right bans o.
Tho Missiseippi ,lhyor. in the Parrish Of Jefrer-
son sanol Ia aih this SITE. being about four lat
Ss'ss s sS'y Or no S' q ground ST men,
spres hall an nfpent front on t6e said Mtssis~
spp ,aoI hiyer by, BY forty l. "frpenis In depth.
| the, property of Joseph Cavalier and below
| by the property Of Terrence Drouet. AID Is tho
same property, acquired by the late Louis Lal..
rs per act before Thso. Martin, then Sheriff 81
the Parish of jefferson. on the 28th Of Novoa-
Terms asb on the spot.
| Acts Of sae before Vim. II. Paseos. Esq. NO.
Ing the taxes duo md exiglble in 1s77 A'''"'
| mh25 ap q 10 20 ~
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29
MUNICIPAL ADVERTISER EnTs
sEkLRD PROPOSALS.

DEPARTMENT or COMMERCE, ]
City Hall.
New Orleans. March ~, 1877.
Sealed proposals for the lease Of the following
named SK1FF FERRIES, for the term Of two
years, will be received ut this office up TO ~
o'clock M. April Z. 1877, VIZ:
Foot Of fsace street to Freetown.
Foot Of Broadway TO WestWego.
Carrollton Ferry.
Bids for the ferries TO be made separately.
The city reserves tho right to reject any and
all bids
Specifications on file In this Office.
CHAs. CAVANAC.
Administrator Of Commerce.
mfl2g 81 ap "a
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29
AUCTION SALES.
NY Mash " Hoslgson.

VALUABLE FIRST DISTRICT PROPERTY.
TEN LOTS OF GROUND WITH IMPROVE
ments. opposite Jackson tailroad Depot.
corner Calliope and Magnolia streets.
Succession Of Miles Manser. dsesased.
Second District Court. parish Of Orleans -Doekst
No. ~ $50.
SALE ron A PARTITION
Try NASH b H0DGs9N,--w. l. Hodeaon.
- .Augtioneer.pffi No. III carondsIst afrsats
On sATUADAiY, March ~ 1877, At "a O'Clock ni..
this City by virtue aud in pursuanes of On order
md Judgment 81 tho Hon. 4. L. 'risEot. Judge
q the Second District Court for tbs parish n
Jslg o. 1879. court docket No sbss In The :naftsr
81 the succession q Miles Manssr, deceesed, ior
R gp S Seaf noTaYB e VI, b Win al
the buildings and improvements thereon. sitsis
atsa 10 M te .. Trgt plstrct q s city, IN be
sine. LOCUST and Magnolia streets, dssienat td
sash as iss. inches end inss iroat % oafF
lope street by depth Of loi foot Inches anda
ass s s Ee sr fas bs sSs A e s
e Sornsr Of Magnolia md qalops street VIC
W.' 'sssp,d,uiuE w " plilH ny LOUIS H. Pills.
surveyor. Tho improvements consist. ON lots
n n2st I and 2. q u, TWo-sTonY FRAME
etc. tho. balanes Of the properly IL vnefr,t and
ls lmngdiately opposite The workshops. tie,, Of
the N. ". Bt L; and q. Hailraad.
aIihMs AND coFprrtqNs, @One-third cash and
the balance ut ono and two ysars, with eight per
cent Interest. and special mortgage, with VEN
doris privilege, FROM date until paid. tho mort
ando. and Two per cont for attorneys fees In
case OF suit and nll other security clauses tom
sales, ~ "
:, Acts Of sale before James Fahey, notary pub
If, ht the expense Of the purchasers. Including
the taxes duo and sxigibl6 In 1877.
fBg mia II 1881
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29

NVsOONA4sE4s1 Isr1SULUIION,
Resolued, That the Clerk of the House and the
Secretary Of the Senate be requested to prepare
list OF the House and Senate bills now on THAR
calendars, and that committee of three mem
bers OF tho Senate and five members 81 the
House of Representatives, to be appointed by
IL g President OF the Senate and the Speaker 81
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29

Second District Court. parish OF Orleans
Docket No. ge.3eG.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-03-29
IN BANKRUPTCY.
UNITED STATES DISTRICT coUR
DISTRICT OF LOUISIANA.

IN THE MATTER OF CHARLES W. sTINDE.
Bankrupt.
Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1877-12-20

In arecent volume On stock exchange
securities, Mr.. Robert Giffen, of Lon
don, investigates the popular theory
that panics in the business world &C.
cur at regular periods, about ten
years apart. He regards these vari-
atoms ia The state of credit as occurring
with sufficient uniformity to be regard
cd % q law, and he speaks Of it as '.cyn-
ical." Mr.. Ginsn cites other authori-
dee ON political economy A. favoring
shis view. Tho explanation offered
for these recurring crises starts with
che assumption that at tolerabls regu.
lar intervals there are periods when
food Is unusually cheap; q stimulus is
thereby given successfully to manu-
Ysctures, trades, commerce, credit and
speculation; at least, when business Is
overdone, the fabric Of credit suddenly
collapses, Q crisis sets in, hard times
follow. and afserward the cycle starts
anew. The theory is attractive and
and plausible, but not very firmly
based on facts. Perhaps, however,
some future investigator will connect
business panics with the sunspot Pc
Rod, a. II is supposed to govern the
rainfall, the harvests and the fsmines.
It seems . somewhat curious coinci-
dence that there has been occasionally
Q space Of eleven instead Of ten years
between panics, as eleven years Is the
sunspot period.