The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-06-07

Youngstown, Ohio, $8,5OO,O00 capital and
$500 men will be idle; at Sharon, Pa, $2500,-
600 and about 1000 men idle; at Newcastle,
Pa, 81, 10000 and about 800 men will be In
active.
Owing to the depressed state Of the agricul-
tural industries, the landlords Of England are
reducing their rents. The Prince OF Wales has
made reduction OF 20 per cent on the rents
due by his tenantry In Cornwall, and several
noblemen and gentlemen have made reduce
lions of 10 per cent This course had become
imperatively necessary. There are already
many farms to let, and obviously the land
owners did not want to SEQ IN increase ia 1t,
or be reduced to the necessity OF cultivating
their own land. Three bad seasons and low
prices have nearly extinguished farming
profits In England, and speedy action had
therefore become necessary. One landowner
III Scotland has as many as three sheep
farms on his hands.
The total debt Of the United States is ST.
457, IT'S 765 81, less cash in the Treasury $43O,
591, 1877 70, leaving net $2,o27. 182,468 49, Since
the first Of May last the debt has been In
creased $50, $50 20, and since the first OF
July, 1873, the debt has been lessen
cd $500 1853 SO. OF the bonded debt
$3.50, 010,75O bears per cent interest:
sGg2, 1850 bears per cent; $3.50 900 900 bears
~. per cent; 1855, o5s AGO bears per cent, and
$14, 0OO, 600 bears per cent. Interest has
ceased on $55, 900 $3.50, and $4O7 1872 1888 bears no
interest. In addition there are bonds
outstanding issued to Pacific railroad
~. r.
statement includes not only called bonds not
matured, but also the new bonds issued to
redeem the same.
Since the first OF January the upward
movement Of the whole stock market in New
York has averaged st least twenty per cent,
according to the estimate OF the Financial
Chronicle Of that city. The effect Of this has
been to place many Of the bankrupt railroads
OF the country en- their feet again, and,
although much money has been lost in the
process, the lesson taught will not be without
a commensurate value. During all these
years OF dullness money has been simply
stagnant. With the return OF confidence,
capital Is coming from Its hiding place, and
every branch Of business Is feeling the i'm
pulse 1t imparts This buoyancy IN the stock
market has stimulating effect OH branches
of business not at all allied to It. The
Chronicle believes the upward tendency OF
the last few months will continue indefinitely
| The mining business, according to the San
Francisco Bulletin, is not In its infancy on the
Pacific coast Less than one-tenth OF the gold
quartz lodges Of California are worked, and
less than one-flfth the gravel deposits, which
sometimes yield as much as 100000 to the
acre. The points to which the Bulletin looks
for the greatest progress are the Black Hills
In which the Father De Smet Mine shows
more gold ore il sight than any other mine In
the country, the Bodie, and the lake districts
the new mines Of Arizona which has hardly
been explored as yet, and the deep mining or
the Comstock lode, where 1t Is now pretty well
established that profitable mining car be car.
ried to depth greater than ever known be
fore.
FOREIGN TRADE AND AMERICAN Ton
NAaE.-An exchange says:
Mr.. Weaver, United States Consul at Ant.
werp, has prepared for the Department 81
State tabular statement OF the entry ton
mage of the chief ports Of Europe for 1878
From the United States the total tonnage at
the following ports Is placed In the first
column and the tonnage in United States yes
sells in the second.