The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-02-17
BRAZIL.
PROSPECTS FOR AMERICAN BANI,ERs-F1NANC1AI.-
CONDITION OF THE CoUNTRY--AN UNHAPPY

PROSPECTS FOR AMERICAN BANEERs-r1NANcuAL
CONDITION OF THE coUNrRY--AN UNHAPPY
INVENTOR.
RIO JANEIRo. Jan. "a, 1879.
The two American citizens who came here with
proposal to establish bank with New York capital
to facilitate banking relations with the United States
were very favorably received by the Minister of
Finance who very DESTROYS Of relieving Brazil OF
it's exchange dependence on London. But much
doubt felt here to the soidity OF the foundation
of the project, many American citizens have Of
late times been coming here with new and useful.
projects that have turned out to be schemes which
rely on the Brazilian government to furnish all tho
substance But It Is useless for gentlemen of enter
prise without funds to come here now. They will
only get polite words and real aid, for the govern
ment is too hard up to entertain anything that can
not stand wholly on its own bottom.
FINANCIAL.
During the last Ave years the national indebtedness
was increased by over 135,000,000 milreis-say
SGT 500 OOO-and tho current years deficit is calcu-
lated at about 80 milreis For the year
beginning July next the Minister asks the Eegisla
ture to vote increased taxation to the extent Of
10000 900 milres, and proposes to borrow 100000
milreis the latter being the expected outlay
various railroads and other lucrative Investments.
the cost of which he considers it fair to hand down
cultivated lands markets roads. but his chief
financial resource lies in an income tax, which no
considers should fall incomes of every descrip-
ton, including the interest OF government stock.
The national debt December 81 stood ut 7lS 0V0O0
milreis increase of 474000O0 milreis in the
The government paper money is included, which
stood at Isl 10000 mireis against LAD $50 900 mres
on December 81, 1871 The expenditure OF the CON-
ing calculated at sos ;nilrcs including
the 2000,0O0 milreis to be borrowed for productive
works.
DISAPPOINTED INVENTOR.
A rival to the American sculptor. Miss Hosmer.
has started up here in the person Of an architect Dr.
Daniel Pedro Ferro Caroso. who to-day publishes
card stating that, early 1861 he made expert
mcnts i'll magnetic dynanics ut Brussas ana com.
municatcd them to the Brazilian Minister there ana
that in 1873 he commenced in Paris TO make ma
chine utilize the dynainic force OF magnetism put
had not money to complete 10, &C. Inc untor-
tunate DIR. Carioso was still hoping to make Q for-
tune by his invention when, like thunderboit, tho
news came TO him this week that Miss Hosmer hal
his pettcd and gained the honor OF
publicity as its inventor.
GOSSIP
The talk to-day Is that old General Ozoro marquis
do Hcrval the Minister of War, il about to retire,
sick of body sicker tho chestnut pulling part his
secretaries assign to him.
Az Moutevi the quarantine on vessels from Rio
ancro has been raised since the 18TH to seventyhve
days. - -. 800, 49,,
nounres that the Legislature of Chill had finally APP
proved of the treaty for the settlement OF tho Pata
roniau question with the Argentine Confederation.
hut after severe and long contested debate. contn-
ming from tho 9TH 10 the llth, In the Chamber of
Deputies.