The daily union. [volume] (Washington [D.C.]) 1845-1857, 1849-06-22

l8l9, 10 months 1888 10000
Under the tariff OF 1912, the whole consun
ton ia four years l5l 7H bales and thus far
the tariff of 1916, the increase is already 1870 bales
ken from tbs pofts. The quantities of taken from
plantation by the rapidly multiplying factories OF the South
are not here taken into account Those quantities
last year placed at 5000 bales, and will this year fall
much short 100000 bales Thus the
material in the United States has reached larger
figure than tbs taken by British The
enhanced consumption it is also to be considered is by
southern and factories, which have protection
against the New England factories of immense pta a9d
which Manufactured this year for southern and
consum ption equal to 63 900 yards OF CLOTH
against importation from England OF II 900 yards.
The exports of cotton goods of manufacture
ne1y 3d. 600 600 yards, and port of foreign
dture 100O0O0O yards Hence the production of southern
and Western factories being equal 100 yards
contend against l55 1000 yards of New England pro-
iucon paying duties and 100000 yards foreign pay
30 per al uaOem 1t Is evident that If the South
and West have successfully whsood the free COMPETE
oil Nsw England, il is out of the power Of Old Eng
land Affect them at ALL while the low that have
ruled under the free competition have induced great
i ~ extended consumption Of the raw material.
1t Is consequence Of selling large quantities of goods
prices that the producer of the material
operative obt,n larger share of the prof, the expense
capital When great deal Of cloth is 10 be given for
comparatively small Of money, there is larger de-
nand for material, and for labor work up This
ncresed demand raises tho value of both, and the copc
ion lies betw capitalists whose profits diminished
For this reason is that tariffs eagerly sought by the
companies and nlionaircs by preventing com petit
ton Of foreign capital, prices kept at such
gauges consumption within the production of the
and the supply oCabo both therefore,
Of ha manufacturer and the margin of his profits
lis great in proportion The moment, however, capital
Scmpeses with him. and lower prices Under the continued
rivalry of capital, stimulate CONSUMPTION the operative and
the producer of the material ore pated. On
this healthy basis the factories of the South and West
growing up, supported by steady currency and they
will continue grow they have done under the
niuu al nj
demand being supplied this cotton will 40 down the Misss
sppi in The shape of clio his. instead oil Cotton.
The operation of the banks New Orleans where the
b.sirsss of grea. valley Of the Mississippi
indicates re!arks be the soundness of the
ency when specie is the eguatdr Ths eading features
at several periods wee as follows
Banks of Nto Orleans
,u 1913 s5aSss, sssasss s7beis, s7ca1s sSs
srpt 1lasss ssIna aS5sso sg ass $500
9iS e4o ssSss so,e,ss, 1851 sssa sSIaii
The Of the oduoc at Nsw Orleans causes ex
change be abuudn in the winter season. when te oihk
isc6rts mature aud the proceeds invested IN the
bills which swell in am5dn in the returns OF the bank un
iii the ed crops afford chance lof INC ce o. ps
to rise that viii pay profit to the bank WIN 70
obse rved that the specie held by the New Orleans banks
exceeds. aud ns done so for several years. from two TO fo
millions the amoun oil the crcua,iontat is say tn
voluntary operation of trade New Ceas is to diminish
tie of money by larger sum than Is fetaned of
the independent treasury THUS at New Oheans at the
--latest dates the banks held $4,000 900 more specie than
they had .sned noes In New York the assistant easu
only holds 81 800 900 Of specie II business demanded the
specie Orleans would leave the banks; but this
Is not tic CAGE The real money OF the biS
of exchange which drawn sgiiust the producs sen
down. and which purchased by rtose dealers in the
valley of the Mississippi owing debts in New York or En-
rope, and RENTED in payment OF goods AS long as
supply of these bills Is equal to the purchases oil goods
specie of value ay body and be in the bank
vault the treasury vault with equal impuny II more
goods purchased than the produce win pay Tor the spe-
Gle will remedy the mailer only the of its vane
1t market for produce and not credtpaper money that
the wants. and this market under the present system
is increasing.
The export demand for produce has been fair for most
produce aud the prices have been well maintain
ed previous the arrival of the felegrac to-day
and the quotations clio sed as follows;
Ordinary Mid good Mid fair Fully fair
to good ord middIng. to fair to gdPr
S glsTs s' A. r ossas. a:i as, ..ssss
The -four market had been well sustained under fair
export demand until this fell off under the expectation OF
later ne VS. and decline resulted closing, Stale
and western 81 I3 81 SO straight brands 81 so
81 SCI; round Ohio 81 rs 81 SA; pure Gcnesec
"a S7A S. Rye flour 10 in demand at 81 6A 49, Con,
meal is beter-say 80 81 SO. Wheat has also improved
Genesee 1870 cents, Ohio 1903 Northern rye
5s} SO Oats 34A 35A cents. Corn, which bad
been very active closed less rmysaes northern round
yellow 81 IS cents southern fat yellow So cents yellow
western 81 62k cents; mixed do, So 81 cents The
exports for June thus far 556.7l0 bushels. Hemp
has speculative demand for pork causing
advance, closing less frmiysales $40 81 $40 50
So 621 80 prime Beef has been active at an advance
fell off before the steamers news-sales