The herald., 1897-05-08

Totals, 1895. .2.O7O.335 4279S,S2 .....
The total increase, as compared with
1895. was 1855 fine ounces, or $780,, 1929, a
gain of 81 per cent, or somewhat below
the estimates made at the close of the
year. Nearly all the colonies showed
an unexpected falling off in the last
quarter Of 1896, partly the result of dry
weather and scarcity Of water.
Australasia led the Transvaal in 1896
by total of 81 ,S94277; and therefore re-
mains the second gold producer in the
world. giving precedence only to the
United States. The result for the cur
rent year 10 still uncertain, depending
chiefly upon the amount of placer gold
obtained, which is just now decreasing
The production of the quartz or vein
mines in all the older colonies is very
steadily kept up.
Great Britain's financial condition, as
outlined in the budget speech of the
chancellor of the exchequer. Is decidedly
favorable, says Bradstreet's. During the
year the national debt hae been reduced
by f7,5S4,000 or over $37 900, 900. The re-
cefpts show an excess over the expendi-
lures of 92,473.000 or over SIP 900, 900, for
the year, and the total value of British
trade during the year amounted to
&73S, 100000, or over SO, 900, 900 900, which
represents an increase of per cent as
compared with the preceding year. Some
comparisons made by the chancellor
with conditions at the beginning of the
reign of Queen Victoria, apropos of the
coming Jubilee. are of particular inter-
est. 1t seems that the revenue, which
amounted to G52 52,500,0OO in the fiscal
year 1S36-37, amounted to over a112 0OO,-
900 In 1S96-97. In other words, the rev.
enue has more than doubled in the
course of sixty years of the present
reign. OF more interest, from the stand
point of the economic historian, is the
fact that whereas at the beginning Of
the reign II per cent of the revenue was
derived from taxes on commodities. at
present only "A per cent of the revenue
is derived from such taxes and in the
meantime the total of foreign trade is
nearly six times what 1t was in 1S36-37.
An interesting suit has been begun by
Fleming & Kell Of New York against the
National Life Association of Hartford to
recover 100000. Messrs. Fleming & Ke!l
allege that they made a contract with
the association in 1893 to run for fifteen
years, by which they were to have
charge OF the company's business In
New York, and that this contract was
summarily Cancelled by the Hartford as
ISOLATION on October IA. 1896 They say
that they placed in the company about
$o,OOO,OOO OF insurance, of which a littlS,
more than $4000,000 was in force at the
time the company declined to pay the re-
newal commissions. Plaintiffs claim re-
newal commissions amounting to $40 900
q year for fifteen years, and contend that
IN consequence Of the alleged violation of
contract by the company all future re-
newals are due forthwith. The present
value OF these renewal commissions, as
calculated according to actuarial tables,
as placed at 100000. The sum of sic, 900
10 claimed as due for renewal commits
sions for 1896 The chief feature of out
Sioe interest In the case Is the legal uues-
tion whether, in case the alleged breach
or contract be established, plaintiff Is
entitled to collect a. once moneys which.
except Tor that breach. are admittedly
not due for years to come.
An action brought by Thomas Howard
against the st. Lawrence Life Associa
tion resulted on the trial in favor of the
plaintiff. On appeal to the appellats
term Of the supreme court, the only
question raised was as to the sufflciency
of the proof of pecuniary loss furnished
by the plaintiff in view Of provision in
the application that the insured was not
entitled to a sum in excess of his ordin-
ary salary, or weekly earnings, during
the year preceding the beginning Of dis
ability The plaintiff had testified that
his income averaged 500 a week for the
year preceding the date Of the accident.
Justice Bischoff. in his opinion affirm
Ing the judgment Quoted in the New
York Times), says that though the con-
tract as framed cast the burden Of proof
upon the insured, still the plaintiff was
Required to do no more than furnish ac-
ceptable legal proof that his income av-
eraged q certain amount weekly.
Regarding our supply of white pine,
the secretary of agriculture has sent to
the senate a report by the chief of the