The Washington union. [volume] (City of Washington [D.C.]) 1857-1859, 1858-09-11

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The direct imports of coffee from Rio de Janero for the
commercial year have been 800 0s2 against 439 S72 last
year The stock hand about 33 600 bags against
100 600 at the close Of last year Prices have generally
been rather lower than last year. frs
The amount of hay consumed during the year has
been 1856 Ala bales There has been large decrease In
the importation of salt The exchange market has er
hibted some remarkable fluctuations during the year
jnst closed Al the opening Of the year sterling bills sold
at o. per cent ptemui but by the firs of October
they had declined to- par and ranged during that month
at 10 and Is per cent. discount sales Of good
bills being made still lower rates There some
improvement in November, and during the following
month the range 81 Gt per cent premium for the
best bills In January they to 81 per cent pre-
niun but fell off again In March to 81 They have
since improved rather steadily, and close at "a per
cent premium sixty-day bills on the North we're en-
trcly unsalablc during the greater part Of October and
November, and ranged in Deccmber at 5a per cent
discount Exchange Paris opened at Of lTa Of 22a
per dollar, but during October declined to g. 10 30
and have held rather low range most of the year.
The New Orleans Commercial Bulletin closes it annual
review follows:
"on general view of our commercial progress du-
ring the past year, find iuch to inspire with hope
and confidence The great monetary revulsion, by its
depreciation of prices particularly of leading staple,
undoubtedly caused actual loss to the producers and
their agents amount which could only be estimated
by millions and in its division between the country and
the city, and its subdivisions among planters factors and
the commercial community generally has undoubtedly
been attended with individual instances of great personal
suffering and hardship. While in mer-
chant princes have lost moiey of their estates in Others
honest labor has been deprived of the whole of its just
reward Neither prudence sagacty has been able to
avoid the consequences. But it requires storm to
test the weatherly qualities Of the noble ship this
| rcyulGion tested and proved the
strength of commercial community and its unequaed
buoyancy at the close Of the tempest The merchants Of
New Orleans instead of seeking to conceal the details OF
these events of dtrust fearlessy point to
them as indictments to conidence-that general conf
dence in their sodity, sagacity, and integrity which
should make them successful competitors not only for the
trade in leading staples and the produce of the West
but for that Of transatlantic commercial communities
Hence IL becomes more important than that in the
establishment Of business relations throughout the CONNER
cal world should avail ourselves of every circumstance
in favor and remove every obstruction to our progress
While the hand we should increase facilities OF
communication with the interior yextendng the railroads
in progress and encouraging the opening of Others
by improving the navigation OF OUR rivers and cheap
ening transportation upon them by boats with an i'm
proved adaptation to the freightng business, on the
other should lberae foreign and coastwise COM
from unnecessary State and municipal exactions
by cectng reduction of all port charges wherever it is
practicable This is the more important from tho
probable influence of the means Of transatlantic com
munication opened TO by the great naval and scientific
feat Of the successful deposit of the submarine Atlantic
cable This remarkable event in the material progress
of the present age has been sufficiently long before
the public mind to be scrtinized from every point of
view Many OF the results anticipated from it may prove
faIacious but Others will not now expected. Re
garding it from stand point from the chief mart Of
The staple which controls the industry of large portion
of the worId-of the staple without which the cable
nigl. have been laidof the staple which created
the necessity Of this mode of communcation--of the
staple which has given the stimulus to invention to sug
ge the mode and the commercial power by the purse and
the ship to provide the means of efectng regarding
it from the chief mart of this great staple have right
to expect that shall the most profit by operation For
all practical purposes Liverpool and
Manchester compet tors in New York If trade is to
be materially modified by this commercial agent, it
should be for the paramount benefit of the cotton inter
est The foreign capital required for the movement of
the crop should be concentrated where that movement
commences With more regularity in the transmission
of intelligence there should be greater seadness in the
course OF exchange fewer fluctuations in prices and more
regularity in the transportation OF the crop from the pro-
ducer to the consumer The pytal ermip of the cable
should be New Orleans and Liverpool Orleans hold
ing similar relation to the planter that Liverpool does
to the spinner The Ia trdnsu trade which has for
time been looming up in more imposing proportions,
should be almost exclusively conducted between these
marts and to supply the demand stimulated by the new
system there should be cotHuos flight OF the white
winged messengers OF trade the great high
way Of the Gulf stream from the Mississippi to the
Mersey.
We may confidently assert that the time has
rived for combined harmonious and energetic action on
the part of merchants for the extension of our com
erce The occasion requires the best intellect and the
most dsnteresed public spirit in commercial circles
1t requires more 1t requires concert of action between
Liverpool and New Orleans by which these two great
cotton marts may be made the arlers of the
of the civilized world. "