National Republican., 1883-07-19
THE MAN ON THE AVENUE.
Small Talk About Men and Measures.


been given on that point. The treasurer
knows how much money he sends to foreign
holders every quarter in the payment Of in
terest on United States bonds, but that does
not tell the whole story Large numbers of
foreign holders do not receive their interest
direct. 1t goes to representatives in New York.
and Is by them forwarded. IL is not known
what proportion of foreign holders of govern
ment bonds get their dividends through mid
die men, but it is estimated that less than half
require tho services of middle men. The
treasurer sent Sls3,275.17 to foreign bond
holders direct last quarter, $10,ais.50 to tho
holders of per cents, SIS, ,26Sl2 to holders of
4l per cents, Sl,s3O37 to holders of per
cents and $50, ,227 lS to holders of ~ per cents.
This sum represents about $1s0,000,00O
in bonds, aud If it be true that 40 per cent of
foreign owners receive their interest through
American agents, and that is believed to be
liberal estimate, about S30O,00O,000 of the
national debt is held across the water, or less
than 20 per cent. There are over 10000 ac-
counts on the registers books.
Checks arc sent out to that number of
persons four times year." said the treasury
official who communicated the above financial
intelligence, every check being inclosod in
separato envelope. English investors
have a prejudice against our registered
bonds owing to the trouble they are put to
when they want to sell them, and very few
are held there. In France, however, it is
different. The French prefer the registered
to the coupon bonds, showing that they arc
held III that country for permanent invest
Il. IL. l,,r la,
iiuenCed tho purchaser, Only II fow years
ago very large proportion of the debt was
held in the money centers of the old world
Now about $l.30O000 900 out of the 81 ,600,-
10000 is held at home"
epR
Cabinet ministers sometimes get funny,
like other people. The other day one of the
secretaries, SO the story goes, strolled into
another department with an acquaintance
from the country. "These buttons" said
he pointing to double row of black buttons set
in the desk of his brother minister, "cOnnect
with wires running to the rooms of the bureau
officers and heads of divisions of the depart
ment. When the secretary wants to call
one of these officials he thumbs
the proper button, bell rings at the other
end and the gentleman answers quickly.
Sometimes the secretary wants to have gem
eral conference or desires TO summon all the
heads of bureaus and divisions. When he
wants to do this all he has to do is to run
down these rows Of buttons as you would over
the keys of "a piano, this way" and
suitng the action to the word he touched
the buttons one after another, pressing them
sharply. "In less than minute the room
will be full of very clever gentlemen anxious
to find out what they are wanted for. As they
are filing in we will go out. All, here they come.
When you are over my way, drop in, Mr..
Secretary. Good bye"
Tho visiting statesman has carefully
stunned that particular department since his
| explanation of the operation of the electric
buttons to his rural friend He thinks ii
might be unhealthy in that locality.
a#a
The bears are making vicious attack
on the Union Pacfics "Orogan short line
| This new line is ll2 miles in length, and was
| built at cost of about $l800O,000. The
"shorts" are carrying on vigorous campaign
by circulating letters to newspapers showing
the barronness of the prospects.
"The position of the wheat market is more
legitimate than it has been for months" said
| the speculator. The foreign markets are bet
ter and the export demand is increasing,
while the price in Great Britaii is six shill-
ings less than the average for ten years.
by the way, grain men are waking up to
the fact that the Pacific coast is cXorting an
increasing influence on the wheat markets of
the world from year to year. Strange as il
may seem, California wheat is taken almost
exclusively abroad. The merchant fleets Of
the world drift from west to east, making the
circuit of the earth about once year. A
vessel will leave New Orleans OIL
some other American port in the
spring, say, with a cargo for Liver
pool. This cargo is unloaded, and tn,
vessel starts for Asatic or Australian waters,
taking coal, If nothing else offers. If China
Is reached in time cargo of tea is obtained
and brought direct to San Francisco. If to-
late, something else is taken, and when
cargo for the American or European trade i
picked up the vessel starts across the Pacific
1t often happens that the vessels sal
light from Liverpool to San Francisco
which explains how it is possible for Cali
fornians to burn English coal, as they do
And on the Pacific coast there is certainty o
getting cargo vessels being chartered fol
months ahead to carry wheat from California
to Liverpool. 1t generally takes a vessel fou
or five months to make the passage arount
tho cape and in that perioC
the cargo has probably changed
hands twenty times, possibly a hundred times
Grain is carried from California b!
boat to Liverpool at rates but little highc
than warehouse rates. These vessels are II
reality little else than floating elevators O.
storehouses ! very much doubt whether thu
railways will be able to divert much of thu
wheat carrying trade across the cont
nent unless demand for the California
product should spring up in the eastern an,
central states, which is not at all unlikely
1t is superior grade of wheat, however, an
is gaining in popularity in England. Gu
grain merchants and spectators keep thei
} eyes on tho California wheat fields as closely
nowadays as they do upon the wheat produo
ing states of the west and northwest"
|
Gold, Silver, and Notes.
The statement of the United States trea!