New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-08-28
FINANCE AND INDUSTRY ABROAD.

REDUCTION OF ARGENTINA's FLOATING DEBT
THE sPANIsH-AMERICAN TOBACCO MARKETS
The latest message from the President of the Ar
gen:lnc Republic 70 the National Congress will con-
tribute 10 dspel the too current idea according to
which financial questions IN South American coun-
tries are considered being always conducted
against common-sense and ordinary principles OF
regularity In his message President Uribura shows,
in the paragraph relative To Argentine finances, n
prudence and n sincerity which not only honor him.
but which calculated to inspire confidence In the
economical probity Of the Republic.
In 1876. says the message the Argentine budget
was llqulatrd with a strong deficit Then the
wrong policy was adopted consisting In the majo-
ration If the Of the excise OF 1891 so that
tho receipts were really much below the hgure gwen
I'm the budget estimate
In the face Of such a situation the Government
OF Sehor Tribura has assumed tho only proper pol
icy. that Of economy and Of cutting on all unneces-
sary expenses The result that a considerable
part Of the floating debt has already been re-
duccd from 5000 cO pesctas or about 100000. TO
100000 peseias The Government does not pro-
pose 20 establish new taxatons or to increase the
taxes already In existence. n Will seek tho neces-
sary financial resources in the development OF the
economical forces II the country. and II VIII sue
coed. for The commercial movement or tho Areen-
tine Republic has assumed latey enormous proper
lions. md the balance ~ exports ana imports II
much to the advantage OF the country.
Tho sea fishery industry in Germany ha. made
extraordinary progress during the last few years
This industry was hardly known before the year
lSS5 when the first steam fishing boat seen
on tho Northern Sea. In $500 there were only six
ioon ~ these boats but In lSoS their number has
gone up TO III steam fishing boats flying the Ger
man flag with a capacity Of 42027 cubic metres.
manned by iISi sailors and representing capital
of l2ocn0r marks This steam hshing Meet OF
Germany is competed ny ifh shi4lnB N'sH'Is'
manned
Tho cause ~ tho sudden development Of the Cor
man fishing Industry is due in great proportion
10 tho encourage ment ~ All sorts given by the
state and consisting not only IN reduction on ran,
road freight but also In The granting OF prizes ana
which have cost about S23rV'
American practical chemists and inventor. may
10 Interested In learning that tho Belgian Govern
rncn has also entered the field 50 much trodden by
most Of tho European Governments bon: upon the
somo mission przo of 5000 francs has Just
boon offered by the Minister of Commerce I'm Bel
GUM 10 tho inventor % system which would sup
press white phosphorus IN matches Jury ~ nine
persons chosen among ,cchnical men and chemists
n I ro,. bcen offcred in other countries Of Fu-
rope but without definite results 50 far. and Euro
pcan luclfcr match woTkm'u continue" 10 si1er
sr~otlv from tho handling ~ the white phosphorus
Tn. closing - the tobacco market in Cubn dur;ng
the recent var excited great hopes In certain coun-
tries II. cllmat" and soil Of which were propiuous
FOR t1e culture - tobacco These hopes and "Hpecta-
i,ons were 90 much moro natural and rational he
c,us. Of Tho development % IN" tobacco trade In
Mexico. where II Iad kept Increasing continually.
even a, a tine when Cubl WAS not prevented by
hostilltics from sending her tobacco 10 IN" outer
world $500,
Venezuela has been one u the hrst 70 think ~
usinr - splendid oil and climat" I'm the develop
Inoui - tn tobacco industry and II WAS melted ~
II by the example 81 Mexico. H. le~ the niteh
states imported SIS 900 worth OF Mexican tobacco:
raw md man ufacturcd. and in 1891 II imported
S@S7 Opp worth. tcnfoi Increase. The prices also
had increased from - cents a pound IN N""-l oTk
In lN,", Co ~ cents.
SO wonder that papers Ike the "Nene2ucan
Ioraldo" ~ Caracas should tell their readers.
Let our propriotors only select proper seed; bring
a specialist choose suitable lands. and there
viii be no longer my necessity 10 import our to-
baccO from cuba.