The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1891-03-02

Letter from Euenos Ayres.
ThomasH. Stockton, Jr., son of Rev.
Thomas Stockton, well known years
ago In tlliS.city, but now pastor of
church In the city OF Buenos Ayres,
South America, In writing to his grand
father, Lewis W. Stidham. giving a
graphic description of an entertain-
ment in his fathers church, says; /
have been out of work now nearly
month, and there isa very poor pros
pect Of my getting any more for some
time. The firm worked for was one
OF the strongest and best houses In
Buenos Ayres, and yet the crisis has
affected them so much that they have
had to discharge some 400 or 400 men
during the last two months, and there
is some talk Of them giving up their
business altogether, and 50 il Is all
through the city and country. There
Is hardly q concern III the Republic
which Is not discharging men, and but
very few places indeed are employing
new men. In spite of all this tho gov
eminent is going on increasing the
burdens under Which the people are
being crushed.
Nearly every day some new tax is
announced which makes the burden
heavier. The government il trying lis
Dese TO force the people TO put their
money into the National and Proyin-
eial Banks instead of into Foreign
ibanles, but the people have lost all
luith In the nation and Its banks and
have brought their money in such
quantities to the English and other
foreign banks that these banks do not
pay cent of interest to deposltors
and yet the money comes pouring
into their vaults for safe keeping. The
government In trying to force the peo-
| pie to replace their money in the Ma
| tional banks issued decree forcing
| all foreign banks to pay into the Ma
| tional bank of tho country tax OF
two per cent. on all their deposits.
OF course the banks won't pay this
out OF their own pockets but will na-
tuially make the deposltors pay the
tax. So you have the strange specta-
Gle of men and women paying a tax
of two per cent. on all their savings
| for the privilege of putting their
money where they think it will be
safe.
Bes.des this, ali foreign stock COM
panies are to be taxed. Take, fQr OK
ample, insurance companies. All Tor
| eign insurance companies doing busi-
ness i'll the Republic have to pay a tax
for license 10 do business Of $4,000 q
year for every different kind Of risk
they insure against, and besides they
must deposit in the National Bank as
security the sum Of 100000 for every
different kind of risk. Besides this
they must pay into the National Bank
! a tax OF ~ per cent. on the total sum
/ of every transaction done by them.
| OF course more than one-half the In
suranee companies will have to close
up their business, as they can't stand
such an awful and illegal tax. This is
only little of what the people have
to endure. aud II you should happen
\ to read in any OF the papers OF rovo-
luton In Buenos Ayres you need not
be very much surprised.
| Our folks at present are enjoying
| pretty good health and l hope you
can say the same. am very anxious
now about a new scheme have under
! way. II am successful / will have Il
chance To see what good hard work
will do In the way of making money.
A young American who has spent all
his life in this States in the nursery
business, raising fine fruit trees,
plants, vegetables and seeds has come
TO Buenos Ayree, and he is very IA
| vorably impressed with the country.
Ho thinks there is chhuce for Il big
thing in this line oil business i'll Duenos
| ASitSs liln ittlltts VIM wv HIS ono Ol
the largest establishments of that
kind in the United States, has prom
ised to supply him with full and
complete variety of stock of the very
choicest kinds ii lie can get the land
TO start on down here. SO he and /
have been trying to complete arrange
ments 10 start i'll together
He supplies the stock and takes n
half of the expense OF procuring the
land. take half the expense of pro-
curing the land, and pay all other ex-
| penses the first year Ne get the land
ON time, | expect 10 know soon
whether l will be able 10 make ar
raHgements with him or not. ii am
successful, it will mean that will live
In Buenos Ayres for some tlme to
come. will have To raise over 800
in gold as my share to pay our ex-
l can arrange the rest of the matter
| Satisfactorily.
| There is lot of money in the bust
ness there is no doubt. Prices are
| high and the fruits now placed OH the
market are OF very ordinary quality,
and on the scale we propose starting
the business, our returns after tho
third year ought to anonnt to $50, 600
year. 10 be sure this is counting
| the chickens before the eggs ure
Matched and our schemes may all end
in smoke, but OF course | hope 1t won't
be quite so bad us that but, the future
| will tell. When everything is settled
! will let you hear farther from me.