Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1878-01-09
General news.
THE NEW YORK LEGISLATURE.

tenn. OF the senate, and James w. HuS-
ted, speaker of the house. The govern
or's message shows the state debt on
Sept. 80, 1877, after applying the sink
ing fund, to be $S,7O7 1858. Actual re-
duction of debt during the year, by
cancellation, 1855, S43. The bounty
debt has been finally extinguished.
Gross canal tolls for the year, $3.50, 600,
lower amount OF receipts than has
been known for forty-five years. In
regard to unemployed labor, the gov
ernor says: ut is easier to discover the
cause of this distress than to point out
the manner of its relief. There can be
one permanent and effectual remedy:
that is to return as speedily as possible
to the condition of things that existed
before the road to ruin was entered up
on, by means of return to specie pay
ments and sound and stable currency,
and reduction of tariff to strictly
revenue standard" The excise laws
are discussed, and the opinion expressed
that what is needed is to substitute for
all existing laws on the subject a care
fully-prepared statute, reasonable in its
limitations and restraints, clear and ex-
plicit in all its provisions, and, above
all. complete in itself, to be uniformly
steady and constantly enforced. The
legislature is urged to take strict &C
count of life insurance companies and
savings banks, and hold them to exact
accountability.
PENNSYLVANIA sOIIONs.
A Harrisburg dispatch of the 1st
says the state legislature met at noon.
Thomas V. Cooper was chosen speaker
pro tenn. This being an adjourned ses-
sion of the legislature of 1877, with but
few exceptions the officers of both
houses are the same as last year.
oLDvIRGINIA.
4 Richmond dispatch Of the LIST says,
for the first time in the history of Vir-
ginia since colonial times, its Governor
Colonel F. w. Holiday, was Inaugural
ted to-day with all the pomp and display
of grand public demonstration. The
governor in his augural address takes
the strongest grounds for the mainten-
ance Of the state credit, making point
that debt was created to provide im-
provcments which the state now poses
ses, and from which it daily
derives profit; that the war affect
ed no change in the relations between
the state and its creditors; that no one
questions the obligations of the debt,
the laws under which it was created or
the benefits conferred on the state by
the propertyits proceeds brought, and
that the general assembly should di-
rect its utmost efforts to the question of
how to pay, and denounces the course
Of those who seem to strive not to pay.
The address declares that Virginia can
not escape her liabilities, which all men
acknowledge, except by q process SINH
lar to schedule III bankruptcy with
the surrender of assets. and concludes
this object with declaration Of belief
in Virginia's ability to meet her obi
cations. The governor seemed to con-
slider the debt question to be the only
one of real importance to the people.
GONE DOWN.
A San Francisco dispatch of the
LIST inst. states that the Nimbus foundered
about Is miles from shore crossing the
! bar off Columbia Friday morning. She
struck heavily several times starting
leak but, when the pilot left, only eight
inches of water was in the hold. Cap
tain Leonard kept on thinking all was
right. At 1890 this morning the car
penter reported three feet of water; at
noon six and a half feet was reported
and the ship was headed for shore.
But the wind died away during the
evening and the crew took to boats and
lay by the ship until shortly after mid
night, when she sank. All hands were
taken on board the ship Aberyst,cah
Castle which sailed with the Nin,bus
THE PRECIOUS METALS.
San Francisco advices of the I'd state
that Wells, Fargo & Co.'S statement of
the production of the precious metals
in the states and territories west of the
Missouri river, including British Column
bia and the west coast of Mexico, dur
ing 1877, shows an aggregate yield of
$9S, 100000, being an excess of 81 .5OO,-
600 over 1876, the greatest previous an
nual yield California gives SIS $50, 900
in gold, and $1,25OOO0 in silver; Ne
vada, $4,000 in gold and S44 800, 900
in silver bullion This so-called silver
bullion. however, is about 40 per cent.
gold. California also gives $1,75O,OO
base bullion, and Nevada $6,750,OOO Of
the same, which contains about % per
cent gold. Arizona gives for the year
$2,39O,OOO, of which 1923, 900 was gold
and 100000 silver bullion. The bal
ance ores and base bullion. The ex-
ports of silver from San Francisco to
India, China, and the Straights is given