The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-03-12

an pettinp solid Ice seventeen inches thlck,
lint the average is about fourteen inches.
Dealers predict that the price next summer
will not go higher than 50 ton"
Tho number of bushels Of grain received at
the seven leading ports during December and
January of the past two years were as FOL
lows. ,o--
Bush Per 80. Bush. Per ct.
Nau, york - 10 900 271 Ao1 II ltal41 400
iiostan -. 2nlsRbi ~ 2ls2,H3 TG
Portland ....... $1,000 - 4t2Gl6 l5I
Montreal .+...... $4,000 ~ 40.sh5 %
phiadeluha =. LIB $50 20.s h.73i.23' pol |
IaitImore. ..... 1918 s0o 2J2 G205,b0o on |
New Orleans 1,Sss.235 "a 2,5io'32 ~
Total -. "a g7o.i4g 1000 2s5s5.os9 1000
The Treasurer of the United States informs
the public that standard silver dollars are
piing up In the treasury at the rate OF
100000 day. AT this rate the mass In the
treasury Will amount to at least $350OO.oO0
by the end OF December. The Treasurer is
of opinion that this accumulation must be
stopped. He says that In view OF the pros
pect of deficit, owing to reduced taxation
and increased expenditures, 1t will be imprac-
ticable TO hoard great mass Of silver dol
lars Hence he has come TO the conclusion
that they must be paid out for salaries and
general purposes, without waiting for them
To be called for III exchange for greenbacks or
bank notes.
Last year O considerable trade was done
In the expectation Of honey from the United
States to Europe" says the London Times,
s'one New York firm alone sending over 3O0,-
600 pounds OF honey, principally to Great
Britain. The importance which bee keeping
has assumed as regular branch ofindustry
In the United States may be conceived when
II Is stated that over 35.000,000 pounds OF
honey are there produced and sold annually.
The dealers are already trying to open new
channels for trade, and to create fresh uses
fer tie product OF the hives. Looking for
ward TO time, not, probably far distant,
when honey will be produced as cheaply as
raw sugar-honey may now be bought whole
sale at seven cents pound IN California-the
dealers hope to be able to provide substitute
for glucose which will equally well serve the
purpose of the cook, the confectloner, and the
brewer.
The House of Representatives. of New
Jersey having In its haste passed paternal
bill prohibiting the manufacture of shoes in
the State prison, a Senate committee look
ing into the matter at Its leisure. discovered
some important facts. One was that the con-
yicts II idle grow mentally and physically
weak Another was that the State receives
$4,000 per annum from the labor In the
prison-that is, about half of its expenses.
Still another was that while there were TO-
600 persons engaged In making shoes outside
the prison, there were only $50 convicts en-
ployed In the work. The committee, there
fore, came to the conclusion that legislation
upon the subject might be prudently dis
pensed WITH and the Senate was advised not
to pass the bill. Probably 1t will not. In
this State like efforts have been and probably
will be made to arrest the industry Of the
prisons; but convicts must do something,
and all experience has shown proftless toll,
mere work for the sake of work. to be DANCE
rousiy demoralizing.
The New York Commercial Bulletin re-
views the foreign trade of this country for the
seven months ending with the thirty-first Of
january, as follows:
Comparing the imports OF the seven months |
with the exports for the same time lin each |
case exclusive OF specie) we find the exports |
TO exceed the imports by the large total of |
S175,5OO,O00 or at the rate of 100000, 900 per |
annum. AS this large excess Of exports |
constitutes an important element in our abil-
ity to hquidate the heavy amount of securi- |
ties now being returned from Europe. it NAV
be well to examine 1t somewhat more closely. |
The government has called In $3.50. 900, 900 Of |
5-20s within the past two months: and ac-
cording to the average estimate of those most
familiar with the international movements If
securities, about S70,0O0,000 Of these bonds
We're held in foreign countries. Besides this.
an unknown amount Of other securities have
been returned from Europe; which NAV be
quite safely taken as making the foreign in
debtedness, maturing or aeeruing on these
accounts, some S75, ,000 To this must be
further added interest on our securities held
abroad the annual aggregate OF which is now
perhaps about ST0,000,0O0; and also an I'M
known sum on account OF ocean freights. near
Iy SO per cent OF which are now earned by |
foreign carriers.
What have we to set off against this extra
ordinary maturing Indebtedness? First, |
there Is the surplus of exports, which, from |
the figures here presented, appears to have |
amounted to S26, 500, 600 for january, and, for
for the months of January and February |
combined, may be estimated, in round num- |
bers, at about S50,000,00O. Next there are
our shipments OF securities to Europe, which
includes S10,000,000 of per cents taken BY
the syndicate of foreign bankers, and, besides |
that possibly $780, 900 to ST 500 600 OF govern
ment and other securities sent to London and
the continent. From these items on the two
sides of the account, and considering that the
called bonds have three months to run from
the date of their call, it will appear easily ex-
plainable how 1t is that the large transactions
In the refunding of the PUBLIC. debt have not
caused any disturbance OF the foreign ex-
changes; and it will also appear highly pro- |
bable that the creditor trade balance likely to |
accrue within the next three months, possibly |
attended with furtherexports OF securities,
may cover not only the amounts to be paid |
Europe on account of 5-20s already called or |
to be called for payment, but also our interest
account with foreign creditors.
1t Is not surprising, under the clrcum- |