The New Orleans daily Democrat., 1878-02-16
Commercial and Financial Matters.

The steamboat John w. Garrett. with two
barges. from Cairo, arrived here yesterday
evening, with II s4s sacks of corn and 2s4s sacks
Of oats.
Mobile wants an appropriation Of $4,000, 900 to
improve her harbor and in addition. wants
Congress to reimburse her for the money she
has expended in that direction
During the year 1877 books and pictures to the
value Of s254.g35 o. were exported from the Con-
sular District OF Leipzig to North America, with
music to the value of s3gs3 %. the total amount
being less by sl7. 800 50 than the year previous.
Two Of the vessels that have been selected for
the Transportation OF American exhibits TO Paris
are Of great antiquity. The frlgate Constitu-
ton, for instance. is not only n survivor OF Inc
ynr of 1912, but was nineteen years of age when
that war commenced, having been built in 1793
while the Supply has been afoat and in toler-
ably active service for mo re- than forty years.
Yesterday there was d very large export move
ment Of grain The steamship Alice. for Hayre,
cleared with q. O96 bags Of corn; the steamship
Wyclife, for Hamburg. has 1000 bags OF corn
and Al $50 bushels Of corn In bulk; and the
steamship Essen, for Rouen. cleared with 5s,o36
bushels of corn in bulk-summng up 29.O96
Senator Conklng. of New York, presented, on
the eleventh. a petition from 1913 persons doing
business between Twenty second and Thirty
second streets Broadway, New York asking for
the passage of the Bland bill The 1913 are said
to be three fourths of all persons doing bus1-
ness In their locality. This would seem to show
that the business men Of New York are not as
unanimously for the single standard as the
A. IL, e ,,tE
It Is believed by well informed persons in
Washington that the new income tax will pro
vide US follows: All incomes up to $4,000 to be
exempted: all incomes over $4,000 an.l less than
$4,000 to be taxed per centum; all incomes
over s1O 900 to be taxed per centum. Under
this bill a man with an income Of $4,000 per
annum would pay exactly s460 to the govern
ment and 1t is over this idea that the Wall street
press are now bowling with rage. The entire
charge to the prosperous classes of the country
is estimated at from 500 900 to $4,000 900 per
annum. -
The recent decision Of the Supreme Court Of
Illinois, to the effect that part Of the municipal
tax levy of Chicago. in 1875. was illegal. because
it was used to pay interest on certificates drawn
against the general fund in excess Of the per
cent limit fixed by the constitution. has caused
quite furry among the Chicago officials. The
decision is very clear and pointed. 1t holds that
the city has no power to draw against a tax
which has been levied. or to become indebted
in any other way In excess of q total indebted
ness Of 8 per cent on the taxable property of The
city or county. Az this limit has been exceeded
by the reckless Chicago officials for years. no
way is left to meet current ex penses till the new
tax levy Is gathered. and even then there will
be large amount Of certificates already issued
to be satisfied.
Trade Dollars.
The brokers still hold small quantities of
trade dollars but their supply is nearly ex-
hausted. owing to the refusal of the govern
ment to sell this coin any. more for any other
purpose than to export. Some Of the banks are
taking them from their depositors but as u rule
they refuse to receive them. In one case how
ever q bank has interested itself in Introducing
them in. circulation, and the st. Louis National
received large shipment from San Francisco
on Monday They cams in boxes containing
$4,000 each. and have since been paid out in the
not interfered q considerable sum would have
beer. readily taken In this city.-(St Louis Re-