The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-24

will he made Of iron and steel two inches
thick. and under this floor will be four feet of
4 concrete The vault extends from the floor of
the cellar TO the ceiling of the basement. An
elevator will be used to move the silver to and
from the vault.
! The Continental Telegraph Company will
lprobably open their line between Philadelphia
!. nd New York to the public about the middle
of June. The officers state that nearly all the
poles are erected, and that the work Of stretch
81 the wires will be commenced on Monday.
y len the line Is opened to Philadelphia, 1t is
! Intended to continue it TO Baltimore and
Washington and also to construct lines from
| New York to Boston. and the South and
West The tariff has not been settled, but 1t
is understood that to all points reached by
the line It will be much lower than the rates
now charged by the Western Union Com
pany
! It is stated in New York that Secretary |
Sherman has decided not to offer any more |
~ per cent bonds. His intention Is to offer |
pnly the per cents The available gold has
lbout ell been used in making the Syndicate
purchases, and, to prevent any further adj
lance in gold on account Of the transactions
N AZ per cent bonds, 1t Is proposed to draw
On foreign countries for the residue OF the
subscription The Daily American Exchange,
Of New York has the authority OF j. II w. |
Y 5eigman Il Co. for stating that there Is q
contract pending between the Syndicate and
The Secretary of the Treaarry for the sale Of
$50, 900 900 per cents, with the option of TAX
ing 5000O,000 more
r. Al y
slnois, on the subject of regulating interstate
commerce, in the House of Representatives
on the eleventh instant, the speaker quoted
Statistics showing that. while the value Of all
khe shipping, American and foreign en-
ployed In our foreign trade is $2o0,0o0,000, the
VALUE OF the railroads of the United States Is
fS4, 600 900 900; and while the value of all our
Imports and exports carried on the sea Is
ES1,121 ,64,0oO per annum, the value of the
commodities carried by rail alone In the inte-
rior Is $1S0O00O0,000. This shows that the
value of the railroads Of the country is about
Hwenty- three times that of all the ships en-
aged I'm our foreign trade, and that our in
ternal commerce carried on railroads alone is
sixteen times as great as that of our foreign
commerce. The comparison does not include
that portion of our internal commerce carried
lin steamboats, and ships on the rivers and
takes and coastwise; Ii this were added it
would make the internal commerce twenty
live times as great as the foreign commerce.
i The New York Bulletin states that there
lare indications of O revival OF railroad build
ling In the country west of the Missouri, and
that, too without waiting for the future. The
sum of the various railway extensions in
4 Colorado alone this year will probably reach
500 miles, which, added to the 1884 miles now
in operation, gives that State 1884 miles of
railway The extension OF the Burlington and
Missouri River Road from Its present termi-
nus In Nebraska, at Fort Kearney, up the
South Platteto Denver, Is also about resolved
upon, officials of that company having been
looking over the route during the past few
/. weeks. The distance from Fort Kearney to
i Greeley Is about 300 miles through we'll
settled stock raising and farming country. In
Texas, also, there are considerable additions
to the mileage of some Of the lines and at
various other points there are proofs of like
activity, though in less noticeable form than
in Colorado. The fact Is worth mentioning
as indicative of reviving life and the renewed
confidence OF capitalists in a branch OF enter
prise which was the first to experience the
severest blows of the panic of 1873.
There are some prudent and sensible men
'swho believe that the effect of the Potter reso-
luton In Congress will create undue excite
/ ment throughout the country: but the gen
i eral opinion seems to be that no such result
will follow the investigation. Gov. Porter, of
Tennessee says: II cannot say what effect
the inquiry provided by the Potter resolution
will have upon the title of Nj Hayes to the
| Presidency. 1t matters not what the result
/ may be, no revolution will be inaugurated.
i The idea is too absurd for discussion.
/ There Is no danger of a condition OF anar-
I chy; and | am very certain that the in
/ vestigation contemplated will have no iniuri-
Z Gus effect upon the business of the country.
I The New York Public, one of the most SEN
I sible financial journals of the country says
j perhaps it will crafty some persons that
4 the frauds perpetrated in Florida and Louis
) lana are to be investigated again. No one ex-
poets that any steps can be taken to Gust
President Hayes. The movement is essential
Iy partisan in object and character; it is in
tended to fish up scandal for use in the fall
campaign. AS it does not threaten to produce
new excitement or uncertainty, those who
!, care for the practical and business interests
of the country may regard it with indiffer
ence"
The New York Herald, of the twentieth In
slant, contains a very elaborate and valuable
1 tabular statement of the coffee trade Of the
i United States, from which we gather some
Interesting facts: During the twenty years
ended June 80, 1876, the United States i'm
ported over 100000 tons of coffee. Of this
amount less than 100000 tons was re-exportec
/ and more than 100000 tons was consumed
i by the people of the United States. The aver
] age consumption of coffee In this country
during the above period amounted t
2O0,0O0000 pounds per annum. For tn,
/ last ten years of that period Thu
/ average consumption increased to ove
27o,o00oo0 pounds per annum; and for tn.