The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-02-26

reduction of the tax will be cf great benefit
b the trade by putting al end t. the uncer-
tainty which has discouraged 1t for some
years. They state that while 1t may prove
q hardship for some who have large stocks on
hand, which have already paid the twenty
four-cent tax, the trade throughout the coun-
try never was In a position to be less hurt by
reduction than at present Buyers, In an
tcipatiDn OF the change, have governed their
purchases accordingly, and made small ones
frequently. The Pacific coast dealers will
probably suffer the most, for they are COM
PEELED to carry large stocks.
One manufacturer said that were the bill to
20 into immediate effect he would lose nearly
$4,000 by the difference between the "a and 10
cent tax; but before April he hoped to get
rid 81 large part Of his stamped stock. Even
should he be- forced to suffer the loss, he con-
sidered that II would be more than made up
TO him IN the impulse given to trade by the
settlement Of the matter. Another dealer
Thought that the tax question could not be
| settled finally by the present legislation, be-
cause 10 cents pound would not yield sufl-
| Client revenue u the government. 1t was
stated On good authority that w. Il. Garrett
X Sons, of Philadelphia, who manufacture
| ! 100000 pounds 81 SNUFF annually, held about
| 10000 pounds " It stamped At the a2-cent n
pound rate, on which their oss, II the present
| reduction becomes law, would be $24, 600. The
| average annual consumption OF snuff has been
| about 3,900,ooO, which will not be increased
by the reduction Of the tax from 30 to 16 cents.
| enue will amount to about 100000.
The price of tobacco from the factories is
net likely TO drop to the full extent Of the
eight cents reduction In the tax, because
prices have already been reduced to 30 low q
| figure as to leave little margin for profit.
TIE first fall In price will probably not ex-
coed four cents a pound. On high brand to-
bacco this will he felt only slightly; but on
medium and low brands It cannot but make a
percaptible difference In price, although 1t Is
mi ~ haatt hs. rxrtl
much advantage from the change, As manu-
| facturers generally do not put the revenue
stamps on their goods until they are sold, the
reduction OF tax does not affect them. except
signments tn agents who hold them for their
| account In other cities.-lTribun
SOME REFLECTIONS ON THE CRISIS OF 1897.
Prof w. &. Summer, Of Yale College comes
TO the following conclusion in regard to the
commercial stress of 1897 and following
years, the causes and progress Of which are
instructively described by him In the March
Sefibner. He says: The reader can. no doubt,
make hs own reflections on this story, but
the following points are especially worth
attention:
1. The influence Of politics on currency,
and 81 currency on politics, was exceedingly
m'sehievOus to both.
Q. While credit adds greatly to the eff
cheney q capital It does not increase 1t. or
supply the place of II. Abuses Of credit were
the real underlying cause Of all this misery,
where the natural circumstances were such as
To- produce prosperity beyond the experience
Of men.
g. When the error had been committed the
Consequences could not be avoided. The
only question was: How to make them As
small as possible, and to be done with them
as quickly as possible, In order to begin agaipt
The New York policy Of sharp and relentless
contraction was bitter whie It lasted It..
however, reduced the total losses to be borne
" minimum. abbreviated as much as pos
sible the period OF distress, aud gave New
York three or four years the start OF the sus-
pending States, on the course OF recovery.
4. The losses during this period were esti-
mated at $S47, 100000. This estimate Ia "a
good az any. but no estimates have much
value The real question L.: How much richer
would the people Of the United States have
been III 1S45 than they were, II they had gone
forward steadily and surely from 1890, with
q sober industry, sound currency, and a
normal development Of credit There is also
another question for those who believed that
the credit system" helped poor men to get
rich: How much richer would he the "pOor
men" OF 1880 have been In 1916 than they
WERE II they had never used credit at all, but
had kept TO the slow accumulation Of capital2
As It was, nearly all the poor men OF 1880
were bank upts In 1915.
.. A resumption Of specie payments while
the currency 10 redundant is All impossibility
unless resumption means that means Of re-
freely used for that purpose.
COMPRISING FLouR.-An exchange says
A French chemist, some few years ago, con-
ceived the Idea that II would be practicable to
compress -four so rs to diminish the bulk and
not injare its quality. An experiment was
accordingly made. Flour subjected to a n.y.
draulic pressure OF $50 tons was reduced In
volume more than Is per cent On close ex-
animation it was found to possess all the
qualities 1t had previously to It's violent treat
ment, 1t was then put into zinc boxes and
sealed up. 1.-THE same time other flour man.
ufactured from the same wheat. but not COM
pressed. was sealed up. About three months
afterwards several boxes containing both
kinds OF flour were opened and examined
The pressed WAS pronounced the best Twelve
months after this another examination took
place, and with the same result. The two
kinds were kneaded into loaves and baked
The pressed flour made the best bread. In
another year after the boxes were opened and
examined, and while the loose flour showed
moldiness, the pressed WAS sweet. and re-
tanned all Its qualities. Made into bread the
same difference was observable.
What has become Of st. Louis pet project
OF moving grain to Europe by New Orleans
The jetties are completed, and It was only on
the ietties that vt. Louis was waiting. But
Orleans handled less OF 1t than before the
completion of the jetties The mouth OF the
Mississippi Is now as wide open as Eads will
ever make it, and st. Louis has never word
to say about utilizing it.--[Chicago Tribune.
We can answer this query by stating that
the bulk grain shipped to New Orleans from
st. Louis for export during the year 1873 ex-
ceeded the shipments Of the year 1877 by
1850, 900 bushels, and that increase was made
during the first year by the usefulness OF the
jetties. And moreover the increase during
the coming year will be far more. Immense
quantities OF grain are now In store through
out the West waiting for the opening Of the
river, when shipments to European ports via
the ietties will set in like q strong tide.-[St.
Louis journal OF Commerce.
An Income without Care.
BY the combination method of operating In
stocks handsome income can be secured
without care. Canital In anv amount from SIn