The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1903-03-29
NED BRACE TALKS ABOUT ALL SORTS OF
THINGS OF LOCAL AND GENERAL INTEREST

been SO many increases In the pension
provisions that. although the war ended
nearly forty years ago our pension roll
Is now over $4,000. 900 annually. In other
words. every man. woman and child In
this country practically has to pay 50
year government tax IN the form of PEN
sions.
Speaking OF the increases In this eoun-
try since the war, in 1865 the total num-
Der of national banks in this country
was 1913, and the resources at that time
amounted to 1880, 900 600. According to
the last report of the comptroller of the
currency. there were 1901 national banks
in this country, with a total capital stock
of $7l4OO0,0OO and a circulation of $3.50. OOO-
900, and resources amounting to s6114OOo-
900. At the present time the national
banks hold United States bonds valued
at S457, 0o0,OoO and their individual de-
posits exceed 5000, OOo. oOO The savings
banks deposits of this country amount to
50, GAO, 600 and there are more than 6,0OO,-
600 deposltors in these institutions.
Speaking of government affairs, was
reading the other day a very interesting
article on the subject of the decision of
the United States Supreme court In ruling
lotteries out of this country. In Europe
lotteries play an important part in the
financial systems of many of the govern
ments. Prussia. for instance, receives
$l2 100000 annual revenues from its lot
teries. Not only are there government
lotteries but private lotteries are author
lied for such purposes as building
churches or defraylng expenses of chari-
table undertakings.
In the same article it is stated that our
continental congress authorized a lottery
for the purpose of securing supplies fo-
the army. 1t is said that both George
Washington and John Marshall our great
chief justice. deemed it entirely proper
to invest money in lotteries
As I understood it, France does not
indulge in lotteries, but the French gov
eminent derives considerable revenue
from the monopoly of certain trade For
instance, a cablegram from Paris says
that the balance sheet of the state mon
opolies in matches and tobacco shows
that the state realized profit last year
of $4.472,649 from the manufacture and
sale of matches, and that the receipts
from tobacco were IS, 300 600, of which S.
100000 were net profit. 1t is estimated that,
the average expenditure for tobacco and
cigars in France the past year was 1920
per capita.
Cigars sell in Paris at practically the
same price they do here Consequent
~ the above figures would indicate that
there is a tremendous profit in the sale Of
manufactured tobacco. OF course, France
counts in as profit the duty which would
be received on imported tobacco If individ-
uals handled the business.
Speaking of the payment of duty, ].
Pierpont Morgan is still struggling with
the treasury department at Washington
to get into this country free of duty ST.
100000 worth of art treasures which he
has stored away in London and Paris.
Mr.. Morgan wants to give these to the
Metropolitan Museum of Art and other
institutions Of like character in this coun-
try. But up to date the government has
held that he must pay into the treasury
100000 in duty to bring this collection
over to New York.