Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1903-12-14

was 46S, and in amount of capital,
$50 .931 400. The number of associa-
lions in active operation at the close
of the current year was 5,147, with
capital stock of $766,S67,-
O95. During the year, II national
banks with capital of $3,4SO,000, failed
and were placed in charge of receiv-
ers. and Y. with capital of S3,4S0, 900,
failed and were placed in voluntary
liquidation by action of the stock
holders.
As a result of the passage of the act
of March IA, 1900, permitting banks to
issue notes TO the par value of bonds
deposited, authorizing the organiza-
ton of banks with a minimum capital
of S25, 600, and reducing the semi
annual duty on circulating notes Sc
cured by per cent. cOnsols of 1880
from one-half to one-fourth of l per
cent, banknote issues increased from
$249.516,227 on March l, 1900, to
s419.6 1O.6S3 on October 81, 1908, an
increase of $17O, ,456.
The amount of the interest-bearing
debt outstanding July /, 1902, was
1891 ,O7O,340. The amount July /,
1908, was $914,541.410 a reduction of
$16,5 2S,93O The estimated population
November 1, 1902, was 79.572,000 and
the per capita supply Of money out
side the treasury was $29.36. The es-
timated population and the per capita
supply of money November l, 1903
were SO,946,0OO and S29.99, respect
lively.
Customs.
Necessity for the Encouragement OF
customs districts is urged. There are
40 districts where it costs more than
one dollar to collect a dollar. Ii is
unnecessary to present any argument
on this subject Legislation 70 put
all customs districts on a business
basis is an imperative duty to the
country at large. Undoubtedly Cuc-
toms officers will necessarily be re
tanned at ports where the collection
of the revenue is meageT. They should
however, be only sufficient in number
70 afford proper protection TO the
revenue. Independent ports with
large establishments, many employees
and the incidental expenses, which
come as a matter of course, should be
coverted into supports tributary to
some larger self-sustaining port.
Smuggling.
The suppression of smuggling has
required the constant vigilance OF
customs officers. In New Finland a
former offender was arrested, con.
victed, and imprisoned on the charge
of smuggling tobacco in bales; two
smugglers of laces are new under bal
awaiting trial, and criminal proceed
ings are pending against smugglers OF
wooden cloths concealed in cars con-
tanning paper stock. At several OF
the larger ports numerous arrests OF
seamen detected in smuggling Suma-
ira tobacco have been made. In
northern New York two persons were
convicted of smuggling wool. Ere
quent seizures CT Struggled wool,
horses, and cattle are made in that
section. In Florida a conspiracy of
long standing to smugOe cigars from
Havana has been unearthed and crimi-
nal prosecutions are in progress IL
this connection, and also for the Illicit
introduction of Cuban rum. Customs
officers on the Mexican frontier have
been lately required to arrest snug
glers, in addition 10 making seizures,
with coed results. With the cooper
alton of the postmaster general, the
illicit importation of merchandise in
the foreign mails is expected to be
greatly reduced, postmasters being re-
Quired to make good the duties not
collected through their negligence
In Illinois two persons have been
lately convicted of smuggling so-called
Mexican drawnwork, and goods in
their possession Of the value of over
$4,000 have been seized. At San
Francisco alone there were LAP
seizures of goods, appraised at an ag-
gregate of $25,771, and two opium
smugglers were sentenced to imprison-
ment Thirty arrests for similar of
lenses were made in the district of
Puget sound.
differentiation.
Fraud upon the customs revenue
from differentiation of imported mer-
chandise, though of frequent occur
renee, is difficult to establish. Many
classes of imported goods, purchased
abroad by the buyers of American
houses, are consigned by the manu-
facturers to agents in New York for
entry and delivery, instead Of being
invoiced directly 10 the purchaser.
If such goods are made exclusively for
this market, as is sometimes claimed,
it is not easy to acertain their real
value in the foreign market.
In New York enc importer was con-
victed and imprisoned for fraud in the
of highgrade chemicals,
and an appraising officer in collision
with him was dismissed and is yet to
he tried on a criminal Indictment I'm