The south-western. [volume] (Shreveport, La.) 1852-1870, 1855-04-04
We extract the following article from the


We extract the following article from the
Opelousas Parrot. Il is particularly applicable
to e.the tines in the Red River country.
The commercial and monetary condition OF
this country at the moment shows a state OF
things depIorable in the extreme. An intimate
acquaintance for several years past induces Us
to say that there is now less money IN clrcuIa-
tion IN western Louisiana than at a similar
neriod for many years. Fortunately for most OF
those indebted, great leniency has been shown
by their creditors, otherwise we would undoubt-
edly have much pecuniary distress. Without
banks or banking facilities, beyond a few private
money-lenders residing among US, we have no
means Of obtaining money upon bills, notes Oh
mortgages, our only reliance being upon the
sale in New Orleans or other markets of the
absolute staple productions of our country ,one
of the leading articles of which has fallen far
short of the previous years crop. Examining
into the causes of the present condition of things
lis not hard to determine why they exist. For
several years past there have been in the parish
of St. Landry from fifty to sixty mercantile es-
Establishments, all selling a fair amount of goods,
and mostly on a credit, creating at the close OF
each year a large indebtedness, which if to any
extent, was only partially met, the remainder
tapping on to the next or following years bust
ness, and the merchant bearing patiently with
the debtor on account of the short crop, in the
confident expectation that the next would be a
full one. Short crop after short crop, however
have succeeded each other, with low prices,
until each debtor has swelled his Indebtedness
to a fearful sum. Add to this an accumulation
and an addition of heavy taxes, state, parish
and railroad, which in two years has been levied
and collected in part, in amount equal to any
previous FIVE years, and we have abundant cause
for the present state of things. Money at no
time has been scarcer or more difficult to obtain
nor has trade and commerce, so far particular
ly as relates to mercantile affairs, been in a more
gloomy and depressed condition. With these
facts, it is to be hoped that creditors will give
and exercise all the indulgence in their power.
The low stage of our waters, although proving
a serious hindrance to trade, has undoubtedly
been productive of good, compelling our popu-
lation to do without or to purchase such of the
old stocks of goods as were to be found, using
as articles of food the productions of the coun-
try, and denying themselves the Injuries which
they have heretofore had. These things have
no doubt proved a saving to the parish of thou
sands of dollars, and lessons the Indebtedness
Just that amount. Place before men the luxu,
ries and greater comforts Of life, and they will
indulge, whatever their pecunIary embarrass-
ment. Up to this period, we have only been
able to ship a few thousand bales of cotton, with
a small quantity of sugar and molasses, the
returns and remittances for which, if received,
have not been of sufficient Importance TO be felt.
When navigation does open, and the produce
of last season begins to go forward, we antici-
pate an Improvement in all departments of
trade. An estimate upon correct data induces
the belief that there is yet to 90 forward from
this parish, mostly from the ports Of Washing
ton and Port Barre, cotton, sugar and molasses
equal in amount to one million dollars. Out
of this large sum, it is safe to calculate that
one-third, or from $50 to $500, 600, will be re-
mitted, latter paying expenses and payments
due by the planters in New Orleans for supplies
and advances and will be placed in circulation
here. This amount will go far toward reliev-
ing our present distresses, and will give, we
hope, an upward tendency to the commercial
prospects of the country. Cut off as we have
been for many years from all banking facilities,
and having to rely upon actual shipments Of
produce for monetary aid, except when our
planters and merchants have made negotiations
in New Orleans at rates which no planter can
stand-with short crops and low prices-some-
times both-we may regard ourselves AS fortu-
nate in not having had our court dockets filed
with suits for debt, and the property of our
planters and traders sacrificed TO meet the judy
ments obtained. One characteristic of our peo-
pie done away, and We would feel that our ten
dency to independence, ~solvency and accumu-
lation was decidedly upward, it is the heavy
bidding for negroes. At all sales where this
description of property is put up, an eagerness
to buy is manifested that is astonishing. From
fourteen to sixteen hundred dollars is about the
range of prices for ordinary to good negro men,
upon one and two years credit. These we con-
slider ruinous rates, and exceptby drawing upon
other resources than the income Of the labor,
the debts can not be met.
The New Orleans Picayune, of the 2sth ult.,
says, we have had another dull day in every
respect. The supply of money is abundant,
but many parties are holding back for the next
European news, which is looked for with ex-
ceeding interest. Unfortunately at this juno
ture the steamer is several days behind her
time, and it is surmised that she may not have
left at her appointed date. The Asia is due
tonight Or tomorrow at Halifax with dates to
the 18th, so that it is not unlikely we may re-
celve the accounts of both arrivals simultane-
ously. Under ordinary circumstances. the mere
delay in receiving later intelligence does not
arrest operations, but from causes sufficiently
well understood the news now due is expected
to be of momentous Importance and strongly
decisive of the future.
Negotiations in first class paper continues to
be made at o@1oRct. whilst of a certain class
maturing early in the fall, the banks are will
ling to take at 6.
The particulars of a very novel specimen of
swlndling were related to US several days since
as having occurred in Charleston, S. c.; but we
torbore abiding to the matter in the expecta-
ton that the papers of that city would disclose
all the details. But nothing having appeared
in relation to the subject, we may as well state
the facts of the case. 1t appears that an indi-
vidual by the name of J. G.. Nichols, formerly
a shipmaster from Belfast, Maine, took up his
abode in Charleston this season, and having a
good opinion of cotton, bought moderately for
NIL