The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-01-05

Commercial and Financial Matters.
San Francisco boasts fifty millionaires, in
spite Of 625 lawyers.
It is 80 we'll settled now that Congress Is GO
Ing 10 take up the tariff question that it may be
accepted as a certainty that the session will run
along into the middle OF summer. That has
been the invariable experience whenever gen.
eral revision of the tariff has been attempted,
and yet II Is not by any means sure that an adj
iournment will not be had, after months OF
wrangling. without single change in the pres
ent tariff being made.
The Hot Springs Commission have completed
their investigation of claims. nine hundred and
fifty OF which we're filed. The Hot Springs
Mountain. embracing 245 acres. was reserved
from SALE and the commission recommend the
reservation also Of whippoorwill Mountain
$500 aeres) on the opposite side OF the valley,
Tor a public park, the land being unavailable
for building purposes, and covered with q thick
growth Of evergreens.
san Francisco dispatch gives some interest
Ing statistical information concerning the bull
lion product for the year Just ended. OF the en-
tire region west Of the Missouri river including
British Columbia and the west coast OF Mexico.
The aggregate yield is placed at sos ,5oo.oOo. an
excess of "a, 800 900 over the product OF 1876,
which was greater than the yield Of any previous
year Nevada leads off with ga .78O. 0Oo and Cali
fornia comes next with 100000.
Congress will soon be required says the st.
Louis Republican, to tell why the owner Of
part interest In steamboat on the Mississippi
river should be responsible to the full extent Of
his private fortune in damage suit against the
boat, while the owners OF steamboats, and
steamships on the lakes and the ocean are re-
sponsible only to the extent Of their interest.
The law makes that sort of difference now. and
II there Is no reason for 1t the proposed amend
ment should certainly be passed.
The message Of the Governor of Ke ntucky Is
not sensational document but is we'll filed
with the business-like discussion of the affairs
OF State interest. The Governor says the State
Is crowned with innumerable blessings" and
he specifies "penteous harvests. decreasing
taxation, civil and religious liberty, improved
educational advantages. liberal charities. ex-
emption from pestilence and civil commotion.
friendship and reconciliation between those
heretofore estranged." The State debt OF Ken
lucky Is $3.50, 1884. She has resources to enable
her to bear up under this burden-s1 1866. 142 90
to say nothing of a claim against the Federal
government.
An English View Of American Finances.
The late English journals have great deal to
say of American money and manufactures and
markets. and products. and the balance of
trade. The London News, December 30. says
In an article on the development Of free trade
principles on this continent:
While the fallaeies of protection are reap
p0artng In some quarters in England, dis
guising themselves under the name OF reciproc-
itY sound free trade doctrine, seems to be max.
posed that America is now in the for}a nate
position. OF having a large surplus not
fa na, Of raw bat Of
ouently o large credit abroad. and that it has
acquired this happy position by Its protection
let system. The President lends countenance
partly to this way of viewing things by his re-
had fallen Of By the decrease Of Imports; yet
on its whole trading of s166 600 600. or say
fs5.ooO.o0O Its excess OF exports over imports
certainly In striking contrast with what we see ss
In England. where the excess Of imports over
exports exceeds sl2o 100000 But when we look
into the account q little we find that the excess
teristic Of indebted countries. In years like
good credit and all sorts Of Railway and dee Other
loans were raised By. Its citizens in foreign
countries. this characteristic was momentari-
Or two. as the indisposition Of foreign coun- -
tries to lend increased. the true nature OF Amer
lcAA JFAue mas Deen maze apparent. America
has been Obliged to export largely without get
ting anything in return In the year ended 3oth
Of June, 1876. the balance in favor" Of the
United States on Its foreign trading-that fs the
excess. of exports over imports-was rather
more than f1ooooo oo in 1876 1t was f24 900 900;
and now. in the last fls al year, it reaches the
large figure Of f35. oOo, OoO In which the President
takes pleasure. But are the figures really mat
ter for congratulation? Are they anything
United States is indebted to foreign countries,
to which 1t Is consequently obliged to remit an
nually either in meal or in malt" in goods or
money. without being able to claim anything In
return2
The Cost of Production.
Mr. Thomas p James the intelj0ont Corc