The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-12-08

The statistics OF travel show that about
10000 Americans go TO Europe annually, Our
consul al Wurtemberg who has investigated
this subject, places the average stay in Europe
at two years, and tho annual expenditure at
over $100,o00,o00.
ApropOs Of the wreck of the Pomerania, 1t
Ia interesting to note that the Hamburg
American Line, TO which she belongs, carried
about 600 and the North German Lloyd $500
cabin passengers for the year ending last
June. The Cunard took about 1 900, and the
General Transatlantic, or French line, which
seems to have been growing In favor, 740O
The White Star comes next TO the Cunard In
popularity. The American Line Of Phiadel-
pha carried 900 out and brought SAG home.
In some New York financial circles there Is
an expectation of coming strngency in the
money market this month. This opinion, the
New York Times says, Is doubtless altogether
due TO the apprehensions which exist that the
proposed resumption Of specie payments may
not be attended with success. Capitalists
who entertain these views will, of course
naturally be DESTROYS Of keeping their money
within easy reach on the approach Of what
they consider likely to prove monetary crisis
The city of Philadelphia Is suffering from
the reckless financial management that has
been tolerated there for SO many years. The
proceeds of taxation have been supplemented
with borrowed money to meet bills for public
improvements and for current expenses.
Warrants by the million have been issued
against An empty treasury until the floating
debt has reached an enormous figure, and
with the funded debt exceeds 100000 900.
Property has decreased In value in Philadel-
phia over s52OOoooO during the past year, A
large share Of this decline, however, may be
charged to legislation that has favored money
rs against all other property. =...-
Banking does not seem TO be healthy
business in Frankfurt, Germany. Not long
ago the head Of the Frankfurter Bank, Herr
Jacob Franck, committed suicide. The bank
had been for some time on the decline, and
mysterious robbery, with other incompre-
hensible losses, had so greatly depressed the
head Of the firm that he killed himself
Shortly after, the cicr X OF the same bank also
committed suicide and then 1t was discovered
that the clerk, Habermehl, had committed
the robbery packet, containing $4,000,
which had passed through the bank, reached
its destination unopened. but minus the
money Ii had been distracted by Haber-
mehl; and additional Losses, amounting to
$50, 900 or more, were traced to the clerk, who
had conveniently slipped across the Styx, out
of harms way. About s27, 900 were recovered.
The tonnage of the United States has de-
II, a.. a
year 1877. At present there arc 3037 regis
tered vessels engaged In foreign trade, and
"a. 227 vessels enrolled and licensed, engaged
In domestic commerce-tota vessels, Is, 2Gi; :
total tonnage, 4,212,7G4. The total number of
entries Of vessels into ports of the United
States from foreign countries. as returned by
the Bureau OF Statistics. during the year
ended June 30, 1878, was 3O,796, Of these en-
tries 1854 were of American vessels; the total
number of clearancos foreign during the same
time was 81 ,364, Of this number 1882 were
clearances of American vessels. Or the total
tonnage thus entered about IS per cent was
American and rs per cent foreign of the total
number of cearances foreign about 2G per
cent was American and IA per cent foreign.
A resolution introduced in the United States
Senate on Tuesday by Senator James Il.
Beck, of Kentucky, would seem to have an
important bearing upon the silver question
and the controversy likely to be raised con-
corning it between the Treasury Department
and Congress. Mr.. Becks resolution, which
was adopted, asks for information as to what
amount of silver coin, and the denominations
OF II, has been received in payment of customs
dues sincet the beginning OF the current fiscal
year, and whether the coin SO received has
been applied IN whole or in part TO the pay
ment of the interest on the bonds
and notes of the United States. The object of
this resolution, apparently, is to test the
power and inclination of Congress to compel
the Secretary of the Treasury to put the re-
monetized silver dollar in circulation by pay
ing it out as interest on the public debt and
in redemption of the! bonds maturing. Sec
ton 1904 Of the Revised Statutes expressly re-
quires the COIN paid for duties on imported
goods to be set apart as a special fund, and
instead Of being covered into the treasury, to
be applied to the payment Of interest on the
public debt and in the purchase of bonds
for the sinking fund to the extent Of per cent
per annum of the entire debt.
Governor Holiday, In his message to the
Virginia Legislature. forcibly urges that
body to make adequate provision for redeem
ing the States honor and credit There are.
he says, only two ways for an honorable set
Element of the State debt question an
increase Of taxation or fair and friendly adj
iustment Reputation or forcble readjust-
ment would bring ruin, but increased taxa
ton, though it might cause suffering and pri-
walton for time, would ultimately bring
prosperity and peace. Tho result of his
correspondence with the States creditors
is proposition from council Of foreign
bondholders in London for the payment
of four per cent in gold on the whole debt,
principal and interest funded, exempt from
taxes with coupons receivable for all taxes,