The herald., 1897-11-13
OFFICE OF THE HERALD,
LOS ANGELES. Nov. IL. 1897.

OFFICE OF THE HERALD,
LOS ANGELES, Nov. H. 1897.
IN spite. OF less active trade during Octo-
Der in most sections Of the country. and
the virtual stoppaee Of business at the
south as a result OF yellow fever scares
and guarantees, the aggregate Of clear
ings for the month just closed. says Brad
streets. exceeded even September's i'm
mense total and marks the heaviest
months total since January. 1893. This
result was accomplished, too, with tho
same number Of business days In the
month as in September. SO that the COM
parison In this respect Is a fair one.
The total clearings at IS cities for the
month OF October aggregated IS. 5S6, POI ,04S.
an increase over the preceding months to-
tai of over per cent, a gain over October,
1896. Of nearly % per cent. and an increase
over October. 1885, month of large trade.
Of 7.2 per cent. Compared with October,
1894, there Is a gain shown Of 81 per cent,
with October 1898, 80 per cent; and. In fact.
the month of October. 1880. the only
October on record SURPRISING that OF Oc-
tobor this year. only showed an excess OF
8 per cent.
October's heavy gain has improved the
position of the ten months bank clearings,
as compared with year ago, the total for
that period aggregating s45.6es, ,s52. an
increase over a year ago Of 1912 per cent
over two years ago of Sc per cent. and
over the year 1894 of % per cent. For the
ten months period increases are less nota-
%, nHk ha.r pV fs,rt q
preceding months. and two groups, the
northwestern and the southern. show tri-
fling decreases. The heaviest gain shown
Is that by the southwestern group Of cit
les. with an increase Of 1915 per cent, but
tho New England cities show gain Of
nearly 13 per cent, and the middle states
group an increase, OF nearly II per cent.
The smallest gain is that reported by the
western group. less than per cent,
4 4 =
For the first time since the new tariff
law went into effect the receipts Of the
treasury from customs begin to show an
increase over the receipts from the same
source ut a corresponding date last year.
This fact has been noted with pleasure
by the treasury officials, who expect that
~ tAtS AiASt Va uCAt yCoi tiC SSNtAhAAaS'AS
will have sufficient receipts to meet cur
rent indebtedness. Up to the present. as
Is made apparent by the statistics of re-
celpts and expenditures for the first
four months of the current fiscal
year, the deficit has exhibited pro-
portions in excess of tina. for the cores
ponding period of last year. Assistant Sec
retary Howell, who has been interviewed
in relation to the situation. expresses the
hope that the tariff law will! now prove to
be a revenue producer to such an extent
that, with its other resources. the govern
ment will. no longer be facing daily ad-
dition to the existing deficit. He says that
importations of sugar and wool alone, un-
der normal conditions, will bring into the
treasury sufficient sum to overbalance
the deficit in the fiscal operation Of the
government for the month of October.
leaving the collections from all other ar
ticles to be applied to the reduction of the
deficit accumulated since the first of the
year.
The balance in favor OF the United States
In Its commerce with Great Britain was
greater last year than at any previous
time during the last fifteen years. and,
Consul General Osburn says, probably than
for any year prior to that period. In a
report Just sent by him from London to
the state department on the foreign trade
of the Emitted Kingdom In 1896. he puts
this balance at $S7OO00.00O The imports of
the United Kingdom were s12o. 5s6. 7SO more
than in 1895, and from the United States
alone the excess was sos. .992. .430 The ex-
ports were valued at 81 200, 727.755. an ex-
cess of SO, ,0O0, 900 over the preceding year.
No conspicuous increase in the value of
any article Of export from the United
States Is noted, and the decreases are main
ton yarn. raw hides. metals, wooiens and
worsteds.
In Germany the savings bank system is
managed by the municipal government,
insted of the national authorities, as in
England. France Belgium, Italy and other
European countries. The system dates
back for nearly a century, and, with the
exception of some unimportant details. is
uniform throughout the empire. German
thrift is proverbial. There are no other
people In the world who can do without
luxuries and things that they do not ac-
tually need with so great degree of con-
tentment. From the cradle the children
are taught economy. It is as much a mat
ter of education as the catechism. In
some of the schools the children are in
structed to gather during their play hours
and on their way to and from their homes
all such apparently valueless objects as
old bottles. tin cans. refuse metals, etc.,
which are sold to the junkshops and the
proceeds deposited to the credit of the
child In the savings banks. The same
spirit that inspires this economy has
caused the number Of depositors In the
savings banks of the empire TO exceed
the number of householders. 1t is often
the case that every child and every SER
want In family has his own account at
the bank which, when 1t amounts to q
certain sum, is withdrawn for permanent
investment. The usual rate of interest
paid by the municipal savings banks in
Germany is s per cent and. although their
management is intrusted to the municipal
tiles. the banking inspectors Of the general
government exercise supervision over
them. There is usually a general office.
with director in chief at the city hall.
whose principal duty IL to receive remit
tances from branch offices that are estab-
- y A.