The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-01-17


census bill introduced In the United State
House OF Representatives by Mr.. Cox Of Ne,
York. 1t is generally conceded that IL wi
pass, and that under Its operations, the cen
sus will he taken more cheaply, reliably an,
expeditiousy than It could be under the oil,
law. The work is 10 be begun and ended ii
the month Of June, and liz TO cost not NOR
! than $4,000 600 at the outside
Numerous and notable investments OF can
ital were made last year In the gold mining
regions Of North Georgia, especially In tn.
neighborhood of Dahonega. While the yiele
Of gold has been fairly profitable. the Sigma
thinks that during the present year It will be-
more than one-half greater than the yield d
last year. The mines generally are vel
opened and everything is In good working
order. The large additions to the milling
power. which were made during the latter
part OF 1878, are all In position, and only await
favorable weather to be put In operation.
The Investment In gold lots still continue.
and there is every prospect of busy and
profitable season ahead.
The Governor Of New York makes a very
excellent showing Of economy In the admins
tration OF State affairs, except I'm the con-
struction OF the new palatal Stated House at
Albany, which, commenced some years ago
on the suppostion that 1t would cost $4,000
600, has already consumed $4,000, 900, and will
absorb SIC, 900 more II constructed on the
present plan. The Governor wisely recon-
mends dIscontinuance Of appropriations for
the present, and the change OF the plan. He
shows as an Offset for this piece of extrava-
kSnt.L nn,
payers, that the State taxes have been cut
down from $16,OOoO00 TO ss,O0O,0oO q year.
which is certainly financial feat worth
boasting about
Postmaster General Key has issued an order
under date OF January /, 1879, In effect that
any description Of matter produced by the
type, electric pen, papyrograph, and mani
fold processes shall be charged letter rates of
postage wnen forwarded through the mails
and that first-class matter shall be held to
embrace manuscript, except book manuscript
passing between authors and publishers and
proof sheets, or a fac smile Of the same. ex-
cept Autographs and photographs. Under
the postal laws publishers OF newspapers
and periodicals may inclose therein to regu-
lar subscribers bills for subscriptions and re-
ceipts therefor, and may write or print there
on the date Of expiration Of subscriptions.
Chicago court has recently rendered a
decision Of interest TO shippers. The Michi-
gan Central Railroad gave shipper receipt
for 400 head of cattle, Consigned to Paris
Myrlck, at Philadelphia, with stipulation
TO notify the consignees. The receipt con-
tanned printed form, with provlso that the
railroad company should be bound only to
the end OF its line. and that connecting roads
should be held as the agent of the consignee
The court, however, ruled that the receiving
road should be bound for the delivery TO the
consignee at the point of destination, and
that intermediate roads should be regarded
as its agents No mere usage could be held
to bind the shippers or the holders of the ex-
change. With these instructions the jury
found Tor the plaintiff assessing the damages
against the Michigan Central at 1921, 45l.
The ease with which resumption of specie
payments has been accomplished, not only
without any apparent arrangement of the |
country, but as really tending to give conf |
dence to all kinds of Industrial enterprises,
has led to a comparison between the amount |
OF currency aioat on the first of January. |
1878, and that available for active circulation
at the same date in 1879. According to the
statistical tables the note currency in circua- |
ton in 1878 consisted of United States notes |
tgreenbacks) amounting to S350,OO0, 900 and |
$320, 100000 national bank notes. making a |
total Of SOTO, 100000
On the first of the present month, when
specie payments were resumed there were
outstanding S346, 100000 lof United States
notes and 1922, 900, 900 of the notes of national
banks. These together make up q paper
currency of s669,OOO,OO0 To this amount of
paper must now be added, as forming part of
the currency available for general purposes,
$2s.ooo,oo0 of specie held by the banks Of
New York, Philadelphia, Boston and Bal
tmore; S22,3o0 of coin interest, payable
on January / by the Treasury of the United
States; sl2,0oo,000 of coin held by banks in
other cities and in private hands, and $780,
600 of silver dollars of the new coinage In
circulation out of the S22, 100000 coined dur
Ing the past year. but of which Sl6,000,OOO
was In the treasury vaults on the first Of
the month. On this subject the Baltimore
San says:
The aggregate of paper and coin outstand-
sg on on lne nrst OF january was therefore
Sa5e,SV,oo as against a paper currency of
$50, 100000 on the first of January, ISIS.
Inns represents the maximum of currency,
Dut from Il must be taken the reserves re-
quired to be held by the banks and the
amounts to be paid back into the treasury
during the year, in the shape of customs du-
ties, and held there until again issued to meet
Ine interest payments as they occur Re-
sumption, therefore, whilst neither mate
rally initiating or contracting the CURRENCY.
mas tendency. to favor greater ease In
monetary operations. As bearing upon this
question, contemporary remarks that s.ra
sumption makes possible future additions to
the active circulation from coinage. AT pres
S 81. We are retaining at home our whole pro-
az ann 40 ~ lne precious metals, amounting to
S.o,oooo0o per annum. How long this extra
III Iuinary course may continue it is impossi-
ole 10 say. At the moment there are no SWIM
s soas on early change; and it seems safe TO
"uppose ulat q comparatively consider able