Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1858-04-02
Our Quarterly Statement.

In another column will be found our statement Of
exports for the first quarter OF the year 1898, as COM
pared with the corresponding quarter OF 1881 In Spr
its Turpenne Crude Turpentine and Rosln there an
increase which is mainly due, however, to the fact that
so small quantity of these articles went forward in the
three months last preceding In Lumber Also there
slight increase, but not marked. The Rice crop can
hardly yet be said to have come into market although it
is rapidly coming forward and the shipments OF the next
three months must of course make up measuraby for the
deficit so far.
The item of Cotton is still considerably behind and in
review of this kind devoted to the commercial interests
of the port Candor compes to state our opinion that
our market for this article has suffered severely account
of the high rates of exchange here very far beyond
those ruling in Charleston. We have to believe
that the prices paid for Cotton at this port have been
fully equal to those Obtainabe for the qualities at
Charleston or Savannah-hat they have been satiSfac
tory the planters who DESTROYS to sell here have yet
gone elsewhere for the simple reason that exchange
against renders currency unavailable Tor the pay
ment of their debts We think that this Is the opinion
nay the conviction Of many OF our merchants, who are
no more nmica to our banking institutions and their
officers than we are and that is not at ALL But the fact
Is so and it is telling against us indeed, it must do
and it is time that the situation should be looked in the
ace and fairly met if we would recover the ground we
are losing Or hope to achieve the position to which we
aspire 1t is produce that must form the basis OF OK
change and consequently of currency Now hive thou
sand bales of Cotton is close to quarter OF million
Of exchange 1t is by securing the exchange based upon
North Carolina products that our ncghbors North and
South Of enabled to sustain superior financial
position When it is in power secure the basis OF
exchange founded upon thousands of bales OF Cotton from
aneghbOrng State it is surely unfortunate that our me
chants should lose the trade and currency the basis
it would afford simply because OF less available currcn-
cy than that enjoyed by neghbors and competitors
The interests of mercantile community and our bank
ing institutions are ought to be- mutual, and war
upon the banks would be foolish, if not suicidal but
again. what Injuries trade must react upon the banks,
and the obligation being mutual must affect both SIDES,
and impose responsibilities on banks as well as merchants
OUR STATE ExCIIANGEs.--The first we pick up is the
NecJcy7 Erpress in which we find nothing particularly
noteworthy Mr. John Planners Still took fire on Mon
day morning, but put out before any damage was
done. The Washington Hotel in NeWbern has been
sold by John H. Bryan, Esq, to VIM j. Smith, Esq,
of HYDE county, for $25OOO 1t ought to be right
smart ESTABLISHMENT W sci loi ChaI SUN Ill Ccoc 'lco'
The Elisabeth City Sentinel of the 9th ult, is main
y taken up with matters relating to the late disastrous
fire at that place On Thursday, the 18th u the cor
poraton of the village met and took measures for the
erection of new Market House, in place of that de-
stroycd by fire; also Mayors Office and lookup. Res
olutions were also passed for the organization of two
Engine Companies, and Hook and Ladder Com
pany.
The Charlotte Wing of the 3Oth ut. says:
On Saturday last, the citizens of this place voted to
instruct our Town Commissioners to subscribe $4,000
for the purpose of erecting Military College in this
place The vote stood:
For Appropriation. ..................l5 5
Against Appropriation. .............. so
e.. 4