UNITED STATES NATIONAL FINANCE AND TRADE.

Waikato Times, Volume XXI, Issue 1783, 8 December 1883, Page 4

UNITED STATES NATIONAL FINANCE AND TRADE.

Jacob Tkrbv, tlu Aim-reaii correspondent of the Otago Witness, wiitesin Ins last lettur : — The industries .mil com ' iherce of the country sju on expanling ;; r Therxj is no bar to development ; no limit >'to the possibility of expansion The ot) 7<nld millions of people in the United 'States have hardly bi v giu to scratch its • sUrfaco. There are vast regions of fertile and accessible land without inhabitant,' to be had almost for the taking There is room and to spare foi the entire population of Em ope. One cannot begin to estimate its advantages, becausp travel where one may and foi weeks and months at a time, only new and sfci iking possibilities are revealed English capital is steadily drifting into the United Stites, and finding profitable investment in land. Seven English estates, three of them owned by noblemen, compiise an area of over 4,0 ! 0,000 acres. This in the pastoral and wheat regions of the far \Vest and South-west. But the Pacific Slope, with its superlative resources, is becoming afavouiite. l'liere are possibilities for capital on this coast not tn lie found elsewhere in Ameiica ; and that is saying as much as need be said on the Subject. Improved valley land is now selling from 50dol to 125d0l an acre that 10 years ago would baiely have brought a fifth of the price, and when it is remembered that from 50dol to SOdol an acre annually i 3 made on this very land by fruit-raising the pi ice appears to be small. But there is so much equally good unimproved country to be had cheaper, that the average is kept low I Lave in mind 55,000 acres of wellwatered land, near a leading port m the Bonthern part of this State which will raise anything produced in the tempeiate zone, excellent pa^-tin \ac also, that miy be bought for i' 3 (It'vlol) an acie, title perfect, and eoiveniont r.uhoad and steamboat connection with the outside world. Those estates omnig into the market, as 1 havcsiid, keep down the price of land as camp iuml with New Zea land, for exnmplc, wheiotho tenitoiyis not so laree ; and tins tact is a! >o tinning English capital tins wav f oi nivestiii 'lit. The new taiiil and mtdii.il rovenuo Jaw have made a hole in the nation il Treasury, but the ii'cipfc aie still largely in e\ces» of i t-vjun o'li^nt^ For the first thieu month-) of the ciuifnt fiscal year the customs yulded 57.251 ,9(i."> 101, a idling oil as competed witli the corresponding poi lod of ISS2 of 0,447, 154d0l Inteinil levcnne } u-lded in the samepi'ii)! 25,9! 2 4-Udol, a decrease of 9,537,t320d01s ; and miscellaneous sources of income l etui nod 7,13 !,30"»dol. showing a dei'rea-o of 2 7-W,512d0l This is a total of nearly 20 million dol lais decrease in. revenue for the first quarter under our now Tax sy-tcn, or 80 million dol'ara a year. The country ran well alFoid to Btanrl this remission, and continue ?aying oIT the National Djljd la-t enough, n three years from now the an cats of pensions will be pud, and then a btill larger reduction ot taxation, cooidinitc with debt reduction, will he impeiative, because theie will he no pietence foi raising so miic'i wwi,!'. In \ iew of this fact, howevu, th» ie an. not wantiiiti suggestion^) for ti .m^ftM i ;n«.^ this lug. 1 surplus into piiv.'t", i>i r.itiu-i coipoiatc channels. For c\iih]]l tit > H,inUtrs' Convention in Lou ic .\ il!(> tin- otiii'i d,i\ suggested tint the (!o\cinnK"it should M'ithdraw the »ieLn'i.iok >, oi legil tender notes fiom cncil ition, lcjiLicm^ them by a conpspo'idinif is->u> ot n.itiouil bank notes. Th's would bj a g^od thing for the ban'-s but a bad tiling f.^i the people. The (! n eminent sue-, m terest Oil its p.ipei cuiio.icy of 34(),000,000dol. which is secured by specie in thoTuu>>uiy vaults, and, muco resumption of specie ]iayinent^, ii ncce^ saiily on pai with gold. If, however, it withdrew the thit" 1 invidiel and foi ty odd million dollaia cmu'iicyas suggo? ted, it would bj compelled io p,iy interest upon !)0 pci (cut. of tie banks' naw is-oiie, •jLcuicd b\ (lo\ oi iim^nfc bonds deposited with the TitMsiii), whil-» the people handling tin*. w\v h-no ot noto? jn the coiuso of bu-jini*--s would pay interest on the w iioK'. A bcttji binking device could not lie hit ujuin, and it would absoib a coiiMilciable slnic of what is now available s-nplus lcvcivie. But no 3hl!i at ia'i_ r ( iix nt is po^iilile Another suggestion i^ thitth" countiy should buy up its own secuiitics at lo per cent, picmium, lSMiing then foi loiikdated bonds, at "J 1 pi c nt. 'J'nc mi mediate cil'ict ot u)'n^> would bo to in crease the jS7.ttion.tl DJjt 1 1 pi r cent. and entail the piymcnt of nileie^t ap parcntly at a louei late for a long tunn ot >c.ms, biit in reality at a hiu'lur i itc than at present by reason of tlie addition to the debt This is a Tieasuiy Mi^i^tioii in thiMiiteicst of the b.inki'is, but it will haidly be acted upon. Xc\t s'&sion of Con gress, however, will witness atii.il for both. The evpoi ts of the United States largely exceeded iinpoit', in the 12 months ended August 31, 18;<3, as the following figures v\ ill show :—: — Impoits 70;i,Sni,o(;4dol. Exports 520,710, < tl')dol.

A DisooviiTiv lias recently been marie in Senegal, Africa, of a foicstof ebony six mile m e\t"iit. S vtim'vci'okiia' K\it,\im,i> vrLwr. — It is said that, when «.u munis \\ei\3 first doled out, man tra\e v.oman the petticoit. lie did if. t j pievpnt hei umliing after him in .dl his plea'-uies and peisuits. He saw that if the once got rid of that gaimcnt .she would be Ins equal. •'Tiutth" has tV> following: — "Strange to sty, the fnnhtful ■ af.istiopho which hiio just tik. 1 !) p'.xv at J,x\ i \\,b predicted twoytais ,i"o b\ a scientist of the name of Dtl.iun.iy, m a incmoii presented by him to the Ft. mcli Academic dcs Science 1 , in ISM. M. I) launay in dicated August ' 2, ISN3, as, tho piobib'e date of the eatiLhsin, and thus mo.de a mistake of two dajs Jn the sunw memoir he states th i! ano'hei find nuicli jnoie tenilio convulsion of n.ifc'iiv will talic place in tlie s.mi'' Miot in 1880."' Waits ok Tin \Y<>!ii,i> —A d("*piloh from Cinuinniti stall s: — Tn one of the seats of tin* thiough exino fto.n Xuw Yoik them weie twoliLtle {x'v.\ oio of whom can led a satchil. to A\hich \v,\a attached a tag with tliH imsci ijition :—: — '•Catherine and E^tliPi Buike. Unldien of Patnck Btnk<\ S'), jM.utin sticet, Cincinnati.'' They aie cntiicly alone. Their agesweie six and fi\e\< j ais lespectively. Tliey could not tell whete they came fiom, nor whitlier they weie going. From the conductor it was ascertained that they weie tluough pa&sengets from Liveipool to Cincinnati. They were handsome little gu ls, with wholesome complexions and clear bright eyes, but with sadly .soiled clothing, showing the lack of a motliei's nttcntion. Some sympathetic won in had fastened a tuberose to the throat of each. Upon ai living here, the o'nni'ous agent took them to their destination, where l\itiick J3mke, thn fathei wab discos eicd to be a very cold, uiulemonsti^tixp sort of parent. lie scarcely noticpd the little pilgiims, and they fell to ciying. lie is a labourer in a co.ilyard, and has been here four years. lie e a\ s that ho p lid thirty-five dollars to a s-teamship agent in this city, which was to coverall expenses of steerage passages for the children from Liverpool to New Yoi k, and railroads from there to Cincinnati, including all transfers and food. Conductors on the railroads tranafc-rred the little ones from one to another, and the lone; journey was made without mishap. Burke did not go to the dep6t to moet them. "I did just as well," he said. " I left word with the clerk to send them around when they came.' One Shilling.— Francis «T. Shortts' Popular Art Union. — Ton first-clj's Oil Paintings by celebrated artist-.. 5000 tickets at Is. The prizes arc magnificent and costly. Country subscribers sending stamps or otherwise will have tickets by return post. Enclose stamped envelope for reply.— Fkancjs J, Shoutt, 140, Qttfen.tfrect, Aiickla.n.4.— [AflVT.J