The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-06-08


There could not be a better illustration of
French thrift than the reclamation Of the
swamp lands of the Gironde. In that region
there was formerly waste plain covering
about 5000 square miles. In winter 1t was
q sea of mud, and in summer a pestilent
morass. Twenty years ago, under the
direction of the neighboring communes,
and without any appropriation from the
government, the work of draining the
swamp was begun. To-day, on this former
ly useless land there are now public
forests worth $40, 600, 900, and private forests
worth $3.50 900. This immense work has
been carried on by 1862 communes. Not only
has no debt been incurred, but the COmmunes
have received from the sale of a part of the
reclaimed land $1,50G0O0, which has been
spent on schools. churches, and other public
works, and 100000 more from the same
source has been invested in the national Sc
curities. All these results have been procured
by the outlay of 5000, 900.
A Western exchange says that now peace
in Europe Is so nearly assured, it may be
imagined that the shipment of grain to the
East will in great measure cease. This Is
not SO. The crops in Russia have greatly
suffered and in India the famine has created
a large demand for the products of this Coun-
try. Indeed. all over the Old World there Is
a call for the material which makes men
bread Our exports grow continually, and
there Is no reason why they should not con-
tinue to do so. During and for several
months after the Crimean war it was found
necessary to call upon America for supplies.
While It Is O matter of universal qualification
that the dark clouds which lowered for some
time above the European horizon have disap
peared. yet we dare say this circumstance has
little TO do one way or another, with the eX-
portation of American grain, as the demand
has been on a steady increase for years. No
untOward event can check the transfer of
Americas surplus products to the Old World.
According to the St. Louis Republican. the
complaint Is made that it is impossible to
keep the silver dollars coined under the silver
bill In circulation; they come back to the
treasury as fast as they are paid out. OF the
1912 7GS coined, only about 81 600 remains
in circulation, and it Is proposed to transport
them to the agricultural regions where they
are desired, instead of restricting their issue
to large cities where they are not wanted.
The opponents of silver refer to the
promptness with which they are returned
to the treasury as q proof that silver
is unfit for money and ought not to be
coined. But the truth Is, there is next TO no
silver money in circulation in the rural re-
gions. When the new dollars were first coined
the Secretary Of the Treasury would not pay
them out except for gold. Even now it is only
in the large cities that any considerable sup
ply of them Is to be found, and there the
banks do not care to have them. Sooner or
later they will be absorbed. The importers
will pay them to the government for duties,
because they are cheaper than gold; but the
government will pay them out for interest on
the public debt for the same reason. They
are legal tender for all debts, and this, in ad-
dition to their intrinsic value as money, will
ultimately enforce their circulation.
The life insurance report of the New York
insurance superintendent, just issued, reveals
great depression in the life insurance bust
ness. ALI but two Of the companies show
decrease in the number and amount of the
policies outstanding. The exceptions are the
New York Life and the United States, which
show an increase respectively of 1874 policies
and $3.50, Ala, and Ut policies and $342,80 The
total business of the companies has decreased
Il, aga policies and $43,827828. The policies is
sued by all the com panies were for S94, 345 500,
and those terminated were S137 SIT, 209. There
were 81 115 examinations by surrender and
only $3.50 by death. The following table
shows the number of policies issued by each
company and the number terminated:
Termin- Terminated
Company. Issued. at.d by lapse,