The New Orleans daily Democrat., 1878-04-23

formerly secretary Of the Atlantic and Pacific,
is announced as president.
The First National Bank Of Springfield has
the honor of leading the way to resumption
in Missouri, having announced by advertise
ment In the local papers on the sixteenth
instant that on and after that date 1t would
redeem its circulating notes in gold, or gold
exchange on New York City at par, until
further notice.
A report has been made to the British Par
Lament on the practcability OF removing
the Eddystone rocks without rebuilding the
lighthouse thereon. To obtain the safe
minimum depth of seven fathoms it would
be necessary to remove over 100000 yards, or |
In all 100000 tons Of rock at a cost of not |
less than S2,5OO,OOO.
The New York Bulletin thinks that the con-
summation Of the $5O,OOO,0OO resumption loan
was shrewd flank movement on the Con-
gressional army of currency agitators. '1t
places the resumption of specie payments be-
yond the hazard of contingency, and so de-
feats those who had hoped to get up case
against the enforcement of the act of 1875"
The British revenues for the fiscal year
increase Of s5,991,315 over the previous year.
The chief sources of the British revenue were
about S137 ,0OO,O 900 from excise duties, $1OOOOO,
900 from customs 900 from stamps,
$29,OOO,OOO from the income tax, S13,O0O,OOO
from the land tax, S300O0,O 900 postof1ice profits,
and nearly $6,000,00O telegraph profits.
New York Insurance companies are prepar-
Ing to amalgamate. The difficulty in the way
is to get rid Of ornamental figure-heads. The
whole business of insurance is undergoing
change in this particular. 1t is beginning to
be understood that men must be trained to in
surance as well as to any other business, and
that it requires intelligence, energy and indus
try as well as other kinds Of business.
An important decision by Judge Baxter, of
the United States Circuit Court. relative to
the taxation of national banks is the subject
of considerable comment in Ohio. A bank at
Toledo contested the collection of taxes on the
ground that its taxation was unequal, for the
reason that its capital was assessed In full,
while the assessment on real estate In that
city Is only 40 per cent of its value, therefore
the bank made tender Of 40 per cent Of its tax
10 the treasurer. Judge Baxter's decision Is
that the treasurer can collect no more.
Reports on the sixteenth of April from
nearly 200 points In Illinois, Wisconsin, Iowa,
Minnesota Nebraska, Dakota, Kansas and
Missouri, covering the whole OF the Western
spring wheat region, show when summarized
that the acreage is nearly so per cent greater
han last year; that the condition and pros
pects are better than at any time since 1860;
hat the seasons work and vegetation are
shree to six weeks ahead of the usual time,
and that there Is an average of Is to 20 per
cent Of the old crop on hand.
The report OF the National Department of
Agriculture for 1877, now In course OF publica-
tion, states that the yield of wheat in the
United States for the year was 36O,ooo,OoO
bushels, or 100000 more than was ever be-
fore produced. Deducting the amount neces-
sary for home consumption In food and seed,
upward Of 10000 can be spared for ex-
port. The acreage Of winter wheat for 1878 is
greater than that for 1877. The corn product
was l,30O,00o00o bushels, with corresponding
yield OF potatoes.
The New York journal of Commerce says
there ensnred into consumption in the United
States during the last fiscal year $685. 142
pounds of free sugar from the Hawaiian
Islands, and 1,454 ,S54 of dutiable brown
sugar paying an average of 236 per pound
the duty amounting to S34, ,337 $50; and 49,
65O354 Of concentrated melado on which the
duty was $3.50, ,944. or an average Of 1888 pei
pound. OF the brown sugar 1885, ,432 73!
pounds passed through bonded warehouse
The large crops of the West have been rap
idly moving to market during the past few
months, and the movement Is expected tc
continue briskly during April and May. The
total receipts of grain at Western markets
from December l, 1877, to March 80, 1878, wer
As 559, 1856 bushels, against "a, 167, ,9S7 bushels
last year, and they exceed the very large tota
OF 1884 by about 2,750,000 bushels. Th
shipments from these markets during tht
same time were 30,S37,S79 bushels, agains
1896, ,SA bushels last year.
Iwenty-six years ago man went fron
Wilbraham, Mass, to California, leaving $40
as loan to a farmer, in whom he put NOR
trust than in savings banks. He wrote letter
about the money from time to time, and sup
posed 1t was safely drawing interest. Re
Gently he came across the continent to collec
it, the sum of principal and interest amount
ing to $1,000; but the farmer, who is wealthy
refused to pay cent, on the ground that tn
note was outlawed The man had to borroN
money with which to get back to California.
The revenue of the United Kingdom for tn
year ended March 81, 1873 was S397. .816, ,49
md For <ha xyoor opdod NEcroh lott 1,yo