The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-03-05

T42,3Uy, Dl WHICH hmDuHL @ljb4b ,264 was
available for resumption. Mr.. Sherman Is
unable to inform the committee whether or
not the resumption fund can be considered as
moneys In the treasury not otherwise appro-
priated."
The amount Of United States currency Of
all kinds outstanding at date is 1868, O82,-
g22 67. The amount of national bank crcula-
ton outstanding is 1924 ,579, $50 currency notes
and 81 AGO, 900 gold notes. The increase OF
national bank notes In February was 81, 64s,-
401, and the increase In the past four months
was $3,5ST,455 In the past month the re-
ceipts from internal revenue amounted to
s6,732, G28 60, and from customs $40. 312. 957 o.
In February, 1873, the receipts from internal
revenue amounted to 7,111,O71 50, and from
customs SlO,372s52 40.
"A Some foreign countries seem to have sense
enough to resist the mania to raise up tariff
walls to stop the aggressive growth of the
American export trade that is running riot In
Europe just now The Canada merchants are
making an active eight against the prohibitory
duties proposed in the Dominion against
American grain, and in Cuba tariff reforms
are urged as a means of developing trade be-
tween Cuba and the United States. The
movement In Cuba Is especially significant
for the fact that the policy which it attacks
has been suicidal to every interest Of that
island, and change will most strikingIy IL
lustrate the folly of nation hedging Itself
about with protective tariffs.
THE GENITAL SYSTEM OF WEIGHT IN THE
UNITED KIsGDoM-This has finally been
tnI nnd affn nj ry fnI fnha hxf bn
prevail Of her Majesty. with the advice Of her
privy council, and heneeforth the GENITAL or
new hundred weight" shall be board of trade
standard, and no longer will be quotations of
grain by quarters of 48O pounds. Quotations
OF the Liverpool grain market are now
quoted on boards OF trade In this country by
the GENITAL. or course everybody knows that
the GENITAL Is the standard for grain In Cali
fornia, but that is the only State In the Union
where 1t Is established, but the New York
Produce Exchange has opened the movement
for its recognition In other States, and has
received replies from a large number OF
boards Of trade throughout the country, APP
proving the proposal for adopting the GENITAL
system for grain, and promising their hearty
cooperation whenever it is adopted. The fol-
lowing is from a communication recently re-
ceived from Liverpool correspondent to
the New York Produce Exchange:
1--WE note with interest your remarks as to
centals, and we make little doubt but
mercantile people like yours, having deci-
NAL coinage. will speedily adopt the decimal
lied weights. The formal notification of the
order In council has been Issued, which legal
ICES the use of the 100 Ii as Genital or new
hundredweight, the underlined words being
an unexpected but very welcome advance
nnmpIv
of the words new hundredweight,' as the old
must In the nature OF things, give place to
the new, and ere long an act Of parliament
will be obtained which will make hundred
mean 100, and cause the old 56 ID, % b, IA n,
ID. TO disappear, replaced by 30, %, 10 and s,
and we quite agree with you that until this
Ia arrived at the full benefit or the reform
cannot be experienced. But, meantime, much
Is gained here by the extension in its birth
place OF the GENITAL from wheat to all articles
We trust you will not relax your valuable
efforts 10 wheel into line with Liverpool and
Frisco"
The TOBACCO TAX-lhe revenue bill.
which contained the clause reducing the
tax on tobacco, and which had been cOnsid- |
cred by a committee of conference of the
Senate and House of Representati yes, and re-
ported upon by that committee, was taken up
by the Senate Wednesday night, the report
of the committee concurred Ina and passed. |
The bill was delayed and went over In the |
House upon difficulty raised by Mr. Con- |
ger, the veteran marriott Yesterday the bill |
came up again. and the report of the commit
tee of conference being coneurred in the bill |
passed by a vote of 1a7 to Ia
The bill is therefore before the President |
We can hardly suppose that he will prevent /
1t from becoming law. The struggle over 1t |
has been long and earnest. The decision Of /
Congress has been, as it were, extorted as an
act of justice to portion of the American
people who are In q minority in the national
councils, The enterprise and commerce. of
that portion OF the nation nave been kept in
depression and stagnation by unjust and |
tyvannous legislation. Appeal upon appeal
f0f relief and redress has gone UP To Con
greGs, and solicitation has been reinforced Ivy
arguments and facts absolutely irresistible.
The bill reducing the tax on tobacco, and con-
ferr4ng the solicited relief upon the tobacco
Industry and trade, passed under the immense
pressure of exeCtl0n and sense OF justice
combined. Assdredly measure passed
under the circumstances that led To the pas
sage of this bill cannot fail for the want A
the approval Of the Federal Executive.
For years the tobacco trade, which eonstl-
tutes so important part OF the export COM
merce of the country, has bean kept In a con-
9lton of disturbance that has been feariuliy
detrimental 80 the community engaged In
We culture and manufacture OF tobacco. All
s saw the disastrous consequences Of this als-
OTDanca, and hy common consent ~ mas Deen
agreed that Ii the tax be reduced TO sixteen
cents there would be no renewal OF an agtta~
uoR Tor further reduction for years to come
We repeat that hill carried through as this
was should receive the approval OF the Fed
era Executive. and we believe will.
Al we are right, we may congratulate our
geople The putting OF the tobacco tax TO
rest will afford great deal OF relief TO this
community. 1t il true that 1t does not go
aiuo effect until the first of May, but the
question is settled and operations will begin
o. en once. In view OF the law. Business will be-
s SUI 10 lively manner, and will go on
smoothly with that confidence which stability
- erwsys imparta II Richmond Dispatch, twen-