Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1879-12-11
NO. 81.

the establishment of the system is, for the first
time given in the report and Will serve to correct
the impression which has TO some extent prevail
ed, that too great portion of the assets of such
banks has been expended in the settlement of
their afSirs. Tables are also given, showing the
loss TO depositors and also other creditors,
through the insolvency of national banks, and
these losses are compared with similar losses in
Cured by the criditors Of insolyent banks other
than national and the comparison is exceedingly
favorable to the national system. The circulation
OF the banks, which, since the passage of the act
OF Jan, a. 1885, has largely decreased, Is now in
creastng IN lis aggregate amount showing that
the system responds promptly to the varying re
quirementS of business. The advantages of this
system over any system of banks hitherto devised
are that their circulating notes ate secured be-
yond peradventure of loss, they are of universal
cred in the country wherever issued; they are
more perfectly protected from cOunterfegting;
they equal exchanges between distant parts of the
country; they promptly redeemed on demand
at one common place; the banks are subject 10
strict and yiglant surveillance by independent Of
6cers OF the government; their cond ton is fire.
| quently made known to the public, and they con-
tribute very large percentage Of theirfprots in
| this way of taxes. system of banking that,
! after existence OF sixteen of years, through
| periods of great imitation and great depression,
has produced such results, may fairly appeal for
! the confidence and support of congress.
| RICE.
The total importation of rice during the last s-
cal year amounted TO IS, ,S24 925 pounds. OF this
| quantity 59,43e,S $50 pounds were imported into
| San Francisco, and about 5,5UI,OOG came from
| China,a large part of which was undoubtedly con-
| sumed by the Chinese the Pacific coast, VINO
| are not citizens of the United States, and who
| have no intention of becoming such. The article
| viii bear higher rate Of duty than now imposed
by law, without materially enchancng the cost nf
! living to the general consumer.
| INTERNAL REVENUE.
The receipts from the several sources of Taxation
under the internal revenue laws for the fiscal year
| ending June 80 1873, were as follows:
From spirits ..........-..-.-...-S S25712o4 t9
From tobacco. Observation-Disclosures. 4U,135,0U2 65
From fermented liquors. 10,I29,320 CS
| From banks and bankers. ...... 3,1g3,SS3 SO
From penalties, etc.. ........ 279,6S7 50
/ From adhesive stamps. 80. 6,7C6,384 06
| From arrears of taxes under repeal
| eQ laWs....- 2Y9,O90 w
IotdI.' Sllo SlS, Alto o.
| EXPORTS IMPORTS.
| The exports and imports of the United States
| during the last fiscal year as follows:
Exports on domestic merchandise. s6eS $40 ZOO
| Exports on foreign merchandise ...... 2,09S 651
Total S710. .439, AL
| Imports ofmerchandise.... 445,717775
| Excess of exports over imports. S264, Col ,66D
Compared with the previous year, the imports
are greater by SS 2i3, and the exports by s15
573,6i5 The annual average OF the excess of such
June 80, 1873, is s104706, ,922 but during the last
| four years there has been an excess of exports
| over imports, as follows:
In 1870. T9,6434Sl
IN !S4 ACKNOWLEDGEMENTS l5l, I52Og4
In 1878 257, ,S14 23i
III lotS So4,o6lOIO
| The total gold value of exports of domestic
| merchandise from the United States has increas-
ed from s275 166 697 in 1869 to S69S $40 0 In 1879,
an increase of 154 per cent. With one or two Un-
! alone among the commercial nations in having an
excess of exports over imports of merchandise.