City Courier (Newspaper) - March 15, 1890, London, Middlesex AND MINING & GENERAL SHARE AS A NEWSPAPER MARCH 15, 1890. Eight One Business Letters to the CITY House As ihc is anxious to make the list rif as full aud perfect as invites secretaries of to without delay of any or omissions that may be No. THE MONEY METALLIC CURRENCY THE ONLY REMEDY FOR THE PRESENT FREEING THE Suppose we now give a little attention to the following enquiry there really anything anomalous in our present sUite of society at very and yet of a nature not to be accounted either by the existence of or any other of ihe causes to in mankind are apt to attribute want of starvation and premature disease and We think there we can hardly conceive it possible any man to take a general survey of tlie existing state of society without arriving at conclusion that there is something so anomalous in our collective condition that the most searching inquiry into the nature and causes of that anomaly imperatively called Let us take an the case of an individual isolated for a period of time from the rest of the He is thrown upon an but not a barren he possesses bodily vigour and mental and laving justly estimated the nature his resolves to make the best of to die hard at and not to die at all from any want of or of a persevering attempt to and so far as his circumstances will to enjoy It is certain that a would best person situated his that purpose being to supply natural by his time in a proper and by devoting his energies to the effectual working out of the plans on which he might and if lie tools or implements of any we can at once the enormous difficulties that would lave to be overcome at every and that the whole of his waking hours would be consumed in himself with the barest necessaries for prolonging his existence the moment he became possessed of. any implement or tool which would prove in his hands an easier means to his desired he would be better armed against the natural obstacles which surround and would thus oe able to gain during his waking which he could dispose of as he either for leisure or for the purpose of producing or laying up a store of what would be wealth to this which would obviously consist of such a house or as he might be able to and of such supply of aud implements as he might be able to create by the labour of his if in the first say for the first two it should take the whole of this man's that is to the whole of the time he was not to supply himself with mere it is clear he could not devote any portion of the said time to the obtaining or repairing of any additional or anything else he must work so long at least for and for it only but from some and it matters not to argument what that cause may he during the next two months of his be able to obtain his food by his exercise of two hours less a he would be in a position to add to his little stock of or labour saving as the case may and that to the extent or quantity that he might be able to make during the two spare hours a which he is now supposed to have acquired during a third period of his he should have greatly improved in skill or so as to find it necessary to labour but one half of his waking to for all his he might engage in pursuit of luxuries as should be within his or he might employ these newly acquired hours in building a better or improving the quality of his or or he might spend these as hours of and still we might the time to arrive when so great would be the witli which he could create an abundance of whatsoever he would require for the ample supply of all his physical that even one lour might suffice for the production of what before required ten hours to He would thus have at his disposal nine hours for the purposes of the exercise of his bodily or in whatsoever fashion he should think This is the we wish to be understood and according to the or facility of would this man be ill or well supplied with the necessary comforts and luxuries of Fn a would he be poor or rich There we take no question as to the for if it take but one- hour's labour to-day to accomplish an which could only be accomplished by the expenditure of ten labour a short time it is certain that a man situated in the manner we have must have the alternative of being either ten times as rich now as he was or he may devote his nine hours of leisure to amusement or Have then the masses of mankind realized this principle Not any particular class of but the population of these As facility of production has increased in and other manufacturing towns they have risen in the scale of comfortable in like are the working men of the present be they or mechanics in any branch of or field better off or better supplied with the necessary conveniences and necessary comforts of life than were the like of labourers forty or fifty years ago by exactly so much as the aggregate of facility of production has advanced during the same And has the condition of all other classes of society risen also in the like proportion If then there is an end to the If the condition of men and mankind in general has improved in this precise as a we really and enjoy all the wealth as a we have either the power Of creating or the inclination to then we have all those things that are good for which our extent of knowledge and resource will enable us to obtain if on the other we have not all this if there be any limit to our physical means of enjoyment other than the exhaustion of our ability or of our willingness to create then there be in the nature of our something which stand and the amount of wealth which is naturally within his something which is not traceable to any of the causes to which the misfortunes of want of distress and consequent with disease and are commonly there is yet a mystery connected with this matter remaining to be That so far as regards our social of all religious and consideration the great Want of society is in a single word employment for all who are able and willing to accept it. How this is to be obtained will be better understood as we prosecute our public s between ENGLAND'S DISHONOUR IN THE Great Britain in the Transvaal is bitterly experiencing that she enjoys no special bull of indulgence from the higher powers to do wrong with Nine years ago she sowed in the Transvaal the wind of and to-day our nation in that same laud is reaping the whirlwind of danger and Popular is Let us then remind it of the past it will the more easily understand the There have been two rival forces contending for the mastery in South Africa the British and the Boer The Boer tribe represent the worst of Dutch At the very jest the Dutch nationality was nothing of which to be No nation ever enjoyed a grander chance of founding a great commercial and no nation more utterly from its innate irs unfitness for the own near lu the sixteenth preferred to endure the Spanish Inquisition rather than tolerate its and nothing but the generosity of Europe in and England in has saved it from the of The cordial support which it rendered England's great is an all sufficient that its heart is little better than its But the Dutchman of Africa is as far inferior to the Dutchman of Europe as an angel of darkness is to of Two hundred and forty years have passed since he landed in for the development of the great continent he has done Its mines are still its forests are still The which should be covered with thriving cities are still the abode of the hon and the But if he has introduced none of the blessings of brought in his train all its His treatment of the native race has been marked by a callous oppression of which a feudal baron would have been and stained by atrocities at which a Turkish pasha would These men call themselves but their republicanism means the co-operation of a gang of united to oppose all progressive and to crush the native races times superior to them in under the armed hesl of a brutal As our rule advanced these men fled before aud their flight in the impressive words of a great by the massacre and spoliation of the native the slaughter of men and women and the enslavement of their commanders being wanting in none of those ruthless features which characterized the slave hunts of the Arab traders in the the Boers went trouble followed like a This Transvaal the noble territory in which this gang of bandits found their dishonoured became one of the blackest spots in the civilized and uncivilized Within there was stagnation and outside there was intrigue and war everywhere there was In mercy to the African in mercy even to the tyrants in the earnest desire to open to British enterprise a nobler field than it had been able to enjoy for half a the government of the late Lord acting under the advice of Sir F. annexed the territory and gave it a free and honest administration English capital at once followed the Union and the country seemed about to enter on a new career of prosperity and But the and the slave dealer is not the man to recognise the value of good government when it affects bis pockets or An insurrection broke and the English troops sustained or two slight Our government and nation at once Political we were assigned as the The land was given back to the regime of oppression and and the British flag was dragged in the The English people may know the but they have never realized all the infamy that was The pen of one of the greatest has given us an too graphic picture of the shame and of the men of our own race who had sunk all their means of livelihood in the development of the in implicit trust on our These the pioneers of saw Great Britain behold without Her warrior crown Of olden glory The banner of her sires Their bright blazon They saw themselves abandoned and and with a deep curse on their faithless countrymen they went forth to live or die the life or death of poverty or And on the native races the chains of the oppressor were again and all signs of civilization were driven from the Great Britain has long forgotten her debt of and now she sees the demand for interest she is The Transvaal Republic cannot rule butit can and will resist our efforts aUke to promote commerce or to protect the Our missionaries and our traders are alike hateful to the But can we abandon this land with its fair promise of industrial development to a paltry gang of whose one aim is to thwart and delay the progress which they cannot But what are we to do Are we to reclaim the land if need be at the ' sword's point Ex says yes our fatal and ish act of 1881 has put us in a doubtful We cannot let things go on as they arc and yet pur solemn treaty forbids Like Lancelot of old Our honour rooted in And faith unfaithful keeps stand as falsely Of a truth the meed of dishonour is a certain humiliation and MAMMON'S Another fall in the Bank rate is most gratifying feature in the money market this Last week it was reduced to 4'> per aud this week it has been still furt ler reduced to 4 cent. banks have their deposit rate at 2^ per and the discount houses and have reduced their allowances to 2^ per for at call and per for money at The discount rate for three bank bills is rather weak at 2J per and will probably continue to recede iiir the Owing to the approach of the end of the quarter the Bank has lost what little influence it had over the discount and will not be able to regain it without great We shall not be surprised to find that the next f the Bank is reduced another per cent. The Return of the Bank of England on Thursday showed that the reserve is now an increase of and that its proportion to the current liabilities of the Bank has risen to 51 per owing partly to a reduction in tlie total The public deposits show a decrease of the Government having been paying off a further portion of the floating thus increasing the resources of the open The amount of notes in circulation is being a decrease of and the stock of bullion in both departments is when the preceding an increase of The quantity of bullion received from abroad during the was so that about in coin would seem to have been returned from On the Stock Exchange the settlement has been the great feature of the on the whole it has passed off One or two failures are announced on but they do not include very considerable For the settlement most of the borrowers were compelled to pay 4^ per for money being in fair demand owing to the requirements arising out of completion of the On bills generally were in strong and rates again adversely to this owing to the decline in the value of money in In the Miscellaneous Market prices generally have been almost without Eastman Ordinary and Salt Union have risen about J home Ill the Home Railway Market been very and the principal feature a decline in most of. the owing to the uncertain outlook in the coal The gross receipts of the twenty-three principal railways in the United given below for the week ending March 9 on 16,151 J to aud for the corresponding period of 1889, on 1C,0>>0 to an increase of 121| or 0*7 per and an increase of or 4*9 per cent. There was an increase of 10,817 in the Midland Company's earnings London and Great Great North Great Manchester and London and North Glasgow and London and Great Southern and Western of North London and Midland Great Western of Metropolitan and Northern of London and and Lancashire and The passenger and parcel receipts of the above lines were an increase of or 5-6 per cent. The receipts for minerals and goods on the London and Company's lines were against against Great against against Great against and Lancashire and against 51,892 - a total of or an increase of equal tits for goods on the Metro- to 4"9 per cent. The recei the remaining lines aud Metropolitan were of equal to 3-6 per cent. The aggregate earnings of the following companies to the above date are compared with those for the 76,112 London and Great Lancashire and London and South Great Great Manchester and London and South North London and Chatham Metropolitan North and Midland Great Western of and Great Southern and Western of and Great Northern of The total earnings of the above lines to 9, were an increase of or 4-4 per cent. The aggregate receipts of the Caledonian Company for the weeks ended with the above date show an increase of North and Glasgow and the total of these three companies for that period being an increase of equal to 3'7 per The American Railroad Market been firm owing to the report that the control of the Burfington and Northern Company had been acquired by the Burlington and Quincey The report is believed to be if the chief source of dissension among the Western and North - western roads has apparently been It is expected that measures will now be taken to arrange for a moderate advance in the sacrifice which the road has made being no to make possible an agreement having that That the Pennsylvania Railroad Company has purchased the control of the New Albany though of minor helped to encourage the Both the Pennsylvania and the Louisville and Nashville we directly benefit from the arrangement just In the mining market comparatively fittle business was and with the exception of copper shares prices have not much Rio Tinto rose | to 15 15-16, Cape and Mason and Barry each to 3 11-16 and 6|, and Tharsis 1-16 to 4|, owing partly to the advance in the price of The South African market has also been except for diamond which have been inquired for on a report that negotiations between the De Beers Company and the London and South African Exploration have De Beers have risen about on the and advanced | to 12^ 12 J. shares have fallen to about 1 s. 6d. presumably iii consequence of the call of 6d. per The accounts received show that good progress is being and that in the Lucky Boy mine very good ore is being met The gold output for February is put down at 36,886oz, This is an improvement on the January which was 35,038oz, but it is still below the December which reached 40,404. That was the biggest on record but as far back as May last the total was 88,?98oz: At that time aU was plain but the drought Then labour difficulties sprung and the fever epidemic in Johannesburg has interfered mth active Last month's total shows an improvement of 11,000 oz. over last The shareholders are not yet getting any benefit from the 50 and 70-oz, discoveries that we heard so much about a few months The and Indian mines hold their own against the African companies very and on the whole their shares have stood the recent fluctuations without much The result of the last crushing of the Stanhope Gold Mining is 524. oz. of
