314 A YEAR IN BRAZIL. 



in their balance-sheets of June 30, show that the Government 

 owes them just 60,000,000 milreis, viz. : — 



Milreis. 



On Treasury bills (old and new issues) 55,524,000 



Account Current with Bank of Brazil 4,198,638 



59,722,638 



"... The bills discounted and the call loans at the bank 

 tend to decrease, for the necessities of trade cannot resist so 

 powerful an antagonist as the Treasury. The actual cash in the 

 seven banks is returned as 11,214,587 milreis. This cash is an 

 asset against deposits on call, and with fixed maturity of no less a 

 sum than 127,667,000 milreis." 



The Rio News says, " The Treasury of the empire of 

 Brazil has now reached a point when little short of a miracle 

 can relieve it, if its authorities continue to follow the same beaten 

 road." 



Report of the Brazilian Finance Minister. 



The Rio News gives some interesting extracts from the last 

 report of the Finance Minister of the empire,* from which I make 

 the following notes : — The minister proposes additional taxation — 

 (i) on lands served by railways and river navigation ; (2) on agents, 

 directors, or managers of companies, pawnbrokers, slave-dealers, 

 dealers in lottery tickets, and various other occupations, and on 

 certain factories ; (3) on tobacco ; (4) an increase of from forty to 

 fifty per cent, on stamp duties and charter companies. " The 

 minister does not agree with the proposed increase of ten per cent, 

 on imported wines, etc. , which are already heavy, and because the 

 proposed addition to ould further stimulate the manufacture of artifi- 

 cial wines, spirits, etc., which have already flooded (invadido) the 

 markets of the capital and provinces to the manifest prejudice of the 

 public health.^ Therefore, what should be done is to impose a tax 

 of one hundred reis per litre on the produce of these factories, 



* South American Journal, July 25, 1885. 



t The italics are mine. Would that all English statesmen recognized the 

 increase of this evil in our midst, to the prejudice of the legitimate wine and 

 spirit merchant, as well as to the injury of the health and vitality of the nation. 



