The south-western. [volume] (Shreveport, La.) 1852-1870, 1855-11-21

which lead to the apparent deterioration OF the
trade Of that city, more particularly with the
south western States, and many sage PROPOSE
tons have been made ard elaborate plans offer
ed to the public, the adoption of any one OF
which would speedily, in their authors opinion,
restore the Crescent City to its pristine glory
and commercial preeminence. But, to our no
ton. the writer of a communication in the Del
ia, of the 4th is the only one who has arrived
at the secret cause of the citys decline, in com
nercial light, and pointed out the real remedy
He thus places "the truth in a nutshell
How can the general trade of New Orleans
succeed we refer to the dry goods, crockery,
hardware, grocery, &C., which make the great
internal trade of a city, OF compete with our
northern neighbors under our system? In New
York, when merchant finds he is likely to be
short in his collections, hedraws his own note
for the amount wanted, at such time as will en-
able him to meet it, to which he appends dou-
BILE the amount of country paper as collateral
and the banks ask no better security. lie IS
thus enabled to render fifty per cent. oths port
folio available. Could such a thing be- done
here? Impossible-our jobbers' portfolios; are
! Just so much waste paper as far as availability
is concerned. .eaga4~ B. =s T. n 80, s..'
What has become of the great dry goods bus
mess transacted here some years since by the
Lizards, Dennistouns, Schmidts, Prehns and
others? All gone Why? Has not the entire
Texas and Mexican trade quilted us, simply be-
cause we could give no facilities? And just so
long as New Orleans pursues the suicidal course
of sacrificing her commerce, for the VAN boast
of the great strength of her banking institutions,
| in other words, insists upon reducing everything
to strictly specie basis, while all the rest OF the
country is growing wealthy upon credit, she
must expect and will sect the certain diminutlon
of her trade, and ruin of her merchants
"WhatH' exclaims old fogyism, "are the banks
expected to supplyevery man with just as much
money as he wants? Ridiculous!' mo; but
compel the banks to stick to the legitimate bus
mess for which they were chartered, and we
would no longer see the Oldest and wealthlest
houses suffering for want of temporary succor.
On ths'contrary, commerce would be foster
ed, energy and enterprise countenanced. Let
US here ask, what has infused life and supplied
energy and enterprise at the north for the last
twenty years. built her railroads, hoated her
marine, erected her cities, filled her workshops
and increased her commerce a thousand fold?
The answers simple: Labor and commerce
fostered by credit based upon bank issues Re-
verse the picture, and we have the present sit
uation of New Orleans. Energy gone, enter
prise crushed, and a decreased commerce, with
the solitary consolation of sound currency
It is useless for us to set ourselves up as models
for the admiration of the financial world; the
ignorant alone will turn up their eyes in admi-
ration the shrewd and interested while en-
couraging us in our course, laugh at our folly,
and chuckle at our downfall. aa9 +
The above is an honest statement of the case.
If the merchants and other business men of N
Orleans wish to retain the trade that has been
for so many years bestowed upon them, they
must prepare to sell as low and on as accom-
modating terms as the merchants of New York
and Philadelphia. Country merchants and plan
tiers, in these days of railroads and steamships,
can in few weeks traverse the Union, land with
out difficulty seek the most desirable and ad-
vantageous mart. in,
1t is an important fact that the public do
main of the general government is rapidly run
ming out-'the stock on hand,' we mean
and that ere many years Uncle Sam will own
scarcely enough to make first rate plantation.
We have nominally 100000 square miles,
hat is some eight or ten hundred millions of
ores; but perhaps five -sixths ofthe entire quan-e
ity is uninhabtable and valueless. Already
10 to p1r in
Minnesota to actual settlers at the maximum
rice of 81 25 per acre. We sold at a nomi-
al sum during the past year 5000, 900 acres,
nd gave away to States and individual corpo-
atoms property enough to make good the enor-
nous quantity Of 80, OOO, 900 Of acres. At this
ate, how long will our three hundred millions of
lyailable public lands supply the demand tor
purpose Of settlement, to say nothing OF the ex-
gencies of the treasury in time of war or OF
financial Distress In Minnesota, which has
,nly SIS, 600 inhabitants, the lands to be offered
his season have been reduced from four to one
million of acres. The lands cannot be survey
I'd as fast as congress gives them away. This
5 said to be the cause of the reduction of the
quantity offered in Minnesota. In Utah, al
ready settled by some $4,000 mormons, the
base line has just been established, and per-
haps years must elapse before the government
can furnish legal title to the lands occupied
by these modern saints. s...- -.
A pamphlet on "the currency, from the pen
of Mr.. Robert Hooper, well known fnancier
of Boston, says that, the loans negotiated
abroad may have been convenient at, the time
to the parties who borrowed the money; but all
that was received for them and all that was
brought into the country in consequence of
them, was an increased quantity of foreign
merchandise to be sold in competition with the
products oEour domestic industry. All thatre-
mains now Of these loans is the obligation to
send back theaamount of them in money at some
future time. In the interim, we must transmit
an annual tribute for the interest on them It'll
is estimated that the annual tribute now amounts