, 1877-07-20

A|tHOugH ] largo p4It Ot lua2 1UAA - %lA o1 |
plsns where no grading IL required, II cost S120.
loon mile. It could to-day he easily bnilt nna |
equipped for s23. 900 milo. Nothing conld |
better Illustrate the shameful wasta Of the public
money which all Aal"'dJ schemes Involve.
SCARCITY or GOLD.
It 1. stated bJ Washington dispatch that
scarcity OF gold prevented nauy persons from sub
ecribns to the ! rcr cent loan. Many who came
with creenbacka had to 60 away without sAbscrtb.
Ing, AZ thry could not get the per cent In cola
ontrca ns a deposit on their subscriptions. This
ennuot be trnc. II does not agree with
the advertisement ulado by Tho Syndicate, In
which 1t ts said that ''to promote the
convenience Of subscribers tho undersigned will
receive in lieu OF coin United States notes at their
coin yauu." ff tho Syndicate demand gold for
the balance payable Or bctuFc Oct. TO- the effect
on the gold market, which Is ali tho time drained
by the Secretary us tho Trcasnry. will bo serious.
Hut as matter Of fnct the lnrgos part OF the rub.
sc,ipliona will be paid directly or Indirectly In
called bonds, which tho Syndicate will turn Into
tic Treasury In place Of the new bonds.
THE COINAGE or TRADE DOLLARS.
Tho San Francisco Mint has rcopened and Ia en-.
garcd In coming trado dollars. largo amount Of
nullon hayin; been deposited for TINT purpose,
Tho supply OF trade dollars has been exhausted by
the export 10 China. .nn1 the demand Tor them ~.
mains active II IL sus.c+ted that tl,e mint rtgn.
]ations bc amended that deposlsor OF hne slves
could draw against lila bars soon n assarcl OF
upon tho aasay Of a responsible refinery. Tho En-
Elirh md French infnts follow this course.
WHAT CAUSED TUE INCREASE IN rAiLUnEs.
Iii The three months lust passed tic Increase In
the aggregate liabilities thnse Of The cosre-
rpons!in. quarter Of 1870 waa 81, 400, o00 This
Ii directly attributable 10 the collapse In the min
Ing stock market at San Frantseo. The failures
there in tas last quarter werr S:i, b1G or three
millions maro than all The failures Of the first half
xt+. ,Ak ia
dicatcs the beginning for It of better days. Taking
the semi annual prr!ods. its failures havo to.
creased frum s.l, !5, 10: In 1Hs0 to ST., Ba7 G3o
in 1H17. Thr Sonlh slows an equal percentage Of
Euln, Its failures having decreased ffnm SO, NO..
lG: to s., T.!6 b00. Tho Western aud North.
western States hayp reached a stationary point.
whiio The paclGc stalcs and 'rcrrsoricn have ear.
lypuat]rupleti their 1oiscs, tho ngnrrs helug 81,
4Ul, ,O3O In 1871 md 81, 3at'. T24 In 1877.
frKMEn AND TIE CnARTEt OAK.
This fo1lown. cxtract from All editorial In tho
Hartford Go"raat contains tho abatement that
rusbcr eonsilers oasfa enough for libel sut:
The Company etands In the hand. ef Farber With
in reputation, and II !u be- ruined in turte, also.
ss IL NJ s@rs na 70 wn:.s y "sys It,
ss u ailuweS !" hola VIZ q si:It q .:
reference un ths part Ut tho guardians
hisIu.lrusnrnt, W'gsiu. !hu Northampton bank rob:
Lcp arc gentlemen mud saints. Nor arc Furbel
aud WIsyin a'ons the snncrs. Tue thiek. coming
developments af The 1att nIpnth. and particularly
OF the last week. show record Of nrgllgence aIs.
ustlrr, .ecklts4nefs, tiiy and wicked speculation
tat las not born snEp.atcd in this country In III
management of panltc funds.
sr. LorlS INSURANCE COMPANIES.
The failure Of the Commercial Insurance Com
pany OF st. Louis, upon tho demand of Tho Stat
Superintendent oi Insurance for spccial state
neut. has excited uuessnrss in that city ~ to III
Cnm1liIuM ut uthsr companIes. Tho EfDuGfled
call. upnn Superintendent Refa 10 subject MI q
them fu the saiae test that brought down the Con
1nsrcia!.
MUNICIPAL FINANCES.
The plan Of = anaRce board ehosen BY tax-psy
ers IL strongly pleased upon the Municipal CUn
,ni4.iou, now stsing In Ph!ade!phla, to devise II
forms In the municipal government Of that city
A simtlur measure LaA passcl thu New iorx LeKi
luturv, but Il IL doubtful whether tho nc1s Leg
turs viii allow II come up for popular vote.
THg FUTURE OF Tus lKoS BUSINESS.
careful sta,isttcgan, Ar. W. T.. s. Hukcr, d.
cIArvs In the Iron Ad< that ths present proauctit
of iron ia In excess Of tho demand. aud that q
ystca obtained are below cost. The decEc4se
production that won1d remedy this stats u anal
canuot 10 brought about by any coucert betwe
The u,anufuetaferA. tbs Iron -AQs thinks I
Sheriff will b. one upon whom tho sppliestion
tbs remedy will fail.
sKw RoU1B HoR SILVER TO CHINA.
Formerly the silses destined for Chtna We
thithcf from London, which not only ~ now co
t1plled the price but held the notal But now I
eIlyst Is shipped from San Francisco, most Of It
tho Bank Of kesads, On telcsraphie ordsss fTe
London. The time OF shipments on London 4
count IL thus reduced fsoa, eighty days ~ Q
month. Ths tzAds is rapidly growing.
SPANISH FINANCES.
Tbs Spanish GQtefument's reputation IL now
bad that 1t can borrow money only On Aecari
Tbs S<n,asas FiaoaeitFs rsci&es thu lneasurf
which money wa obtalned TO pay tbs COUPON
ou the new spanish . PSF esnt drbt. Tbs bant
dc Paris, representing 4 syndicate, advanced
JOG. ooO GU an a4alsamcut Of tha stamp duti
TAe Government In this way will repay $40,
Amonth, and e1tiugul.h tho debt In sessn mont
TIE SEw YORK uAsK suPKAiNTxaDENT.
The .ri2l VI Bank. .Supcrinscndeu Ellis, OF
YORK, ia NOW Ia progress u sasatogs before
s.nAls Committee Of that State. Tho charges
lneaupe.sney md ualAdmtnisusnun of LIE ?