The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-03-16

Piemehs Oh trade and household furniture sufficient to
continue their calling II enables farmers to retain pos
session oil their teams and tools for tng the ground and
prevents their creditors from stripping their dwellings Of
the little furniture they may have accumulated
The Michigan House OF Representatives passed the
is by vote of 30 to bill making appropriations for
completing the Central Railroad to Kalamazoo appro
PIRATES $4,000 in lands for grading and supersructure
$4,000 out of the proceeds for ironing the that
place. On the I'd inst the Senate concurred and the
bill became law.
Receipts of the Central Railroad, Michigan, for the
month of Feb, ls4i:-
FOR passengers. ........... .$23ll
:, r,,s'sn..'' $50
o'u "'"' ''''''''''..'.'.... lou ,o,ss
| Amount in the corresponding month lsis
was. ............... ........... ATS
Increase. ................. s7,5ss
The receipts at New Orleans the It'll inst
| for the season, amounted to Recommendations 5
Same time last year. ..."...... 5,s07,727
Decrease this year. ......."....l,6 27 ,4a2
Receipts of the Hartford and New Haven Railroad
| ing the month Of February, for two years.
PASSENGERS freight, and mail, Feb ls4s s56aa
1874 1858
Increase for 1884,. ......s 81, asO
From the returns made up the Custom of this
city and Boston, the annexed comparative table of imports
and rates Of duties shows the result at each placer
Imports INTO NEw YonK Bo.ros
pu,isss IMPORTS sss pu.b s;, %po a' sos 400
siecie, 90 ': ss.ss Specie. do '' ssi
B on S :.%: 's; s,S g
As 'a%s on Ay wa '. duty on
dut'ab'e imports. 81 do duable impors, 81 do
statement has just been published Of the liabilities and
assets of the Quebec Bank, to the Goth of Feb 1884, by
find tha
that date. amounted to 2O7 the coin and bullion
hand, to Gao 1863 1885, Adj the total liabilities
the total assets f20I 1855.
Since the adjournment Of the Legislature OF Maryland
the stock Of that State has fallen from 81 per cent
The given for this great decline is the defeat the
bill introduced for the completion Of the Ohio and Chesa
peake Canal 1t is surprising to Of judgment de-
ceved in this way The decline in the quotations the
stock has been produced by political spectators po
effect Can be possible that the refusal the Legisla
to create additional debt of two millions of dollars
actually reduce the value Of the stock already in the
market The defeat of the bill has in made the stock
ofthe State more valuable. The estimates made by the
Committee Of Ways and Means in their bill that has
! become law, were Independent of the anticipated re-
ceps from this canal The receipts from that work could
not be Immediate The amount necessary pay the in
on the loan asked for to finish the canal have
been raised by direct taxation. The law as now
should every dollar required be collected and notwith
standing this spectators into the market and run
down the price Of the stock stating that its real value
has decreased nearly per cent because the
Legislature refused to involve the State deeper in debt
Within few days there has been four arrivals Of
packet ships from London, Liverpool and Havre all os
which had very heavy and valuable The largest
proportion Of the cargoes coming in at this season. is
composed of dry goods of foreign manufacture These
goods into the market before the trade the country
has exhibited any evidence of its extent Before the job
bling houses know whether the trade will be double
treble what was last year. that it only will be the
samei extent they lay in large stocks of goods at the
frat prices of the We notice great number Of
in the business section Of the city, most of
which are young houses, composed principally Of those
who have had but little experience in the dangers
arising from overtradng There avery few Of the old
houses in existence that weahered the gale of 1887 and3
in fact very few through those times unscathed
All werecrippled and cramped in their resources The
present Of dry goods obbers do not perfectly under
stand the ramcations of trade that gradually lead that
class particularly into the troubles and difficulties that
assuredly lead to ruin and bankruptcy. Competition
the life and soul of trades without it, monopolies would
eat up the substance of the consuming classes but
rivalry in business often leads extremes and all parties
made bankrupt together. The fever is daily ncrea-
sing Our obbing houses have adopted the extra
VACANT system OF securing customers that practsed
to great extent in 1886. Our hotels down
with drummers, who pounce upon country merchant
with all the avidity of bird of prey These drummers
supported at immense expense they have the
of the city and literally supply their customers with all
kinds of recreation and amusement, without any other
charge than can be found in the foot OF their bills These
efforts to customers leads to large sales and
tended credits. The aim is to do large business
possible and Guido their neighbors. The quantity sold
appears to be of object than the quality of the
bills receivable. The solvency Of their customers is
secondary consideration, compared with the amount of
their bills. They have goods urged them at the
lowest prices and credits offered to any extent every
expedent resorted to- inducement to swell the
total amount. This is sure to result in bank
ruptcy to all parties. The country merchant has forced
upon him merchandise than his home trade
requires; his obligations made large that
he cannot meet them they fall due. The
city jobber is disappointed in his receipts his
bills receivable not paid becoming DUE his
pital has long before been used up laying his
stock and there alternative but suspension The laws
Of trade linked together that from the most isolated
causes half the merchants of large city like this may be
compelled to stop payment. All inducements held out to
country merchants to overrade invariably becomes inu
rous to the seducer Heavy mporations abundant sup
plies long and easy credits and the competition that inv
ably exists between houses will lead to speculation
ovcrtradng insolvency and failure. It is impossible to
prevent this termination It is the same in all other
branches Of trade besides the dry goods department 1t
only by increasing excitement that speculation in any
thing overdone and the necessary excitement to pro-
duce such result be created well by the regular
movements Of trade, by any fictitious demand that
may spring up by the operations OF specuators
Old stock Exchange.