Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1837-05-16
FROM THE SOUTH.
Correspondence Of the Washington Reformer.
New ORLEANS April 25, 1887.

NEW ORLEANS ApTH 70, 1901.
The house Of Burke, Watt 4 Co. went
by the board yesterday. Ii was the largest
Cotton house in the cily.--Nlr. Burke is the
President Of the Uuicn Bank, and the uni
Initiated conceived that he could not fail.
The amour of his failure has not iranSpir-
ed, but il is greater than any before him.
He will lake with him some ten or fifteen
houses here, ard in Natctz.
The banks are doing no new paper, and
drawing on no place except England, and
even there very spurlngly, in order 10 pay
their debts. Buyers OF bills look with sus-
picion on all private sellers and banks. Cot
ION is generally bought Tor remittance.
Rates are still runOus. Thousands oil bales
are in our warehouses and on our levee.
valueess, anG fear destined 10 ROT in the
sun and rain.
All kinds of produce have fallen, and are
daily falling. For cash, large lots of Flour
can be goi al So 80. Every article is ten
to twenty per cent. under the quoted value
of the market managers. Mess pork can
be had al $I5.-Cuilee in the same way can
be secured al 9 8 9 cents, best Havan-
ma green.
From the N. Orleans True American April 26.
The news from Mississippi is Of The most
disheartening description. Letters from
gentlemen OF the highest standing, in var-
! GUS quarters Of the State. tell of things that
would not have been dreamed OF months
ago. We shall endeavor 10 give an alb
slract OF le Information now in our posses
sion, in order that the real state Of things
may be known.
| Negroes that, three months since, cost =
200 To 81 500, each, can now he bought IN
| any parl OF Mississippi, for $50 10 $500
! cash. ! his description OF property, whose
! increased value depended entirely upon The
! late eXhorbilnni price Of Cotton, has there
come down 10 level with the present de-
prcca'eJ rates Of the great staple, leaving
/ The unfortunate purchaser minus thousands.
The loss ON this kind ni rnpery alone is
enough 10 bankrupt State. But The ms
| fortune does not stop here.
The planters have anticipated their crops
and received and expended lhree-lnuiths ol
tier value months ago. On delivery OF The
cotton 81 bought aud paid for, they naiu-
rally came forward and expected to mort
gage, as il were, their labor, capital and
| .lne, Tor the next twelve months, in order
Ia procure sufficient OF The necesSares oil
lie Tor the support of their negroes, To get
the means o.! carrying on their plantations,
| ptchinS lhelf crops, GU 81, i" tl'cl
surprise, the 4h OF March aud lis attendant
destruction came upon all Il cir eSptcla-
tons, and crushed them ina instant. They
are now left without provisions kand the
means of living and using their industry for
the present year. I'm this dilemma, planters
whose crops have been from 100 to zoe
bales, find themselves forced 10 sacrifice
many OF their slaves in order 10 get the
common necessaries Of lie for the support
ol themselves and The rest oi their negroes
In one instance small planter " hose hopes
ran high last winter, and who owned tween
iy-,wo slaves, sold three ol his hest men
or which he had actually paid S3,e05, iol