Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1862-07-15

e From she Nsrth.
n The following letter from "Autslope," d
i well known New York correspondent of Il
q New Orleans Pieayuas, gives an inside peep
a the state Of things ct the North. It seems thi
Northern merchants have no confidence as y,
= in the promised Ell DORADO Of trade, opene
) up with the Mississippi Valley through the FIRE
Fedsral port of New Orleans. They get n
Z cotton from the South, and are afraid to SEM
their merchandise to the South They hav
j found that conquering trade is like compelHn
t a horse to drink after being led to the water
,, We wonder that Butler does not pronouncl
Antelope a contraband:
| Special Correspondence Of the P1csyunel
New YORK, June "a, I862.-The ship Galena
an old trader between this port and New Or
lesus, has now been up " for the Crescent
City for nearly six weeks, and yet she has moi
obtained cargo sufficient TO warrant an an
nOuncement as TO when she viii sail The res-
son Of this is because those sending goods are
anxious to get them to New Orleans as quick as
possible, and hence a steamer, that makes the
run IN eight or nine days, is preferred-even ct
difference in the cost of freight Of nearly four
/ hundred per cent. That these rates are exhorbi-
tant none will deny, nor can thOy be maintained
for any length of time, providing return cargoss
ct satisfactory prices can be obtained Four
dollars barrel freight for potatoes about the
same tor flour; five dollars for barrel of pork
two dollars for a quintsl of Goldfish Tires dol
IaIs Tor box Of wine, and similar charges for
other things, are altogether too steep to be lonp,
endured, and will venture ths prediction that
months time viii find them reduced fully fifty
per cent.
Thus far it is said that shipments hence have
n NJ rae "A Ill. A.
IS TINS surprising when the enormous freight
charges are considered this. however, is not
the main reason given for the moderate success
that has attended shipments q refusal to pur- |
chase, except when absolutely necessary, and |
then only the coarsest kinds of provisions, being
the chief reason given for the same. If this be |
so, rush of high-priced articles would entail !
severe loss upon those sending them, and / ap,.
prehend fewer of these the better.
For the other ports, announced as "Open to
trade" not vessel has offered This is entire
ly owing to the fac. that 10 one could be found
TO risk the adVenture-the opinion being that
any goods taken would meet a bad market per-
baps no market at all, unless Uncle Abes troops
were the buyers-while in the way of q return
cargo, it was not believed one could be found.
We have had abundant proof of this on every
return trip of government vessels from Port
Royal and Beaufort, North Carolina, and some
Of the ports of Western Virginia. These would
gladly have brought all the merchandise that
could be obtained, yet they came back literally
empty. OF course it could not be expected that
private merchant Vess-lS would follow in such a
rack, and they have not
Some foreign houses, however, hear have de-
ermined to see what can be done in the way of
stirring up trade with New Orleans, and par !
les have arrived here by recent steamers iH route
or your city to further the object in view. One !
X haa Of
nd is empowered to purchase tobacco, sugar, 7
laval stores and cotton providing the latter can
e obtained. Whether 1t is intended to send B
hese direct or via New York, cannot say, {
hough should infer the latter, as but few yes 4
els have IS yet been announced from any Of the L
European ports as up for your city. n
In general way trade with US is worse than o
was six months ago, and one Of our papers
sRted few days since that at least three-quar. t
,rs of the merchants Of the Northern States g
-ere bankrupt. 81
You will readily perceive from this ths neces- D
ty of the bankrupt Law that has been intro
uced into the Senate, and which is said to be II
.vored by majority Of the Finance committee
that body. The bill is New York produc- to
on, and is signed by the leading men of the ii
ty, including Brown Brothers, John J. Stuart,
.chard Bell, John T. Phelps and others. b.
or course, with this new issue of more Treas d.
ry notes, gold advances in value and premium cl
10 per cent. is predicted in Wall street imme-
lately on the passage of the bill This will to
AXE government and all bank notes worth bnt
cents on the dollar and those having duties so
pay in gold, or shipments of gold to make to ne
urope, will sweat heavily in thu operation. til
This payment of duties in gold was wholly la
1expec:ed, as the fifty miHioas of treasures
sued some time since were regarded as good vi
7 duties whenever offered. 1t appears how
'er that large portion of this particular issue tic
IS been called in, and those not fortunate 81
Tough to get hold of some of the notes still out,
9 compelled to plank up their dues in gold. G,
ur exports of the precious metal during the lel
st FIVE months have been about $24, 900, 900, m
Id it looks now as if they were only com tw
encing, as the city of Washington, on Satur- th
y alone, took out $2,330,00O! The total feI
sOunt of gold now in the North, exclusive of
at owned by foreigners, and laid on their sta
count, Is estimated at not over fifty millions, gil
lich, taking the shipment of Saturday as a ge
SIS, could be run away with in less than six ma
Duths.
The price to-day is 81 to 10 per cent. pre- Of
um, and sterling, following in its wake, has Sc
vanced to 90 per cent. premium. Stocks are an
t. louisiana SKIES are offered at g. with her
yers at IS.
Cotton stronger, with sales at 80 cents for ma
ddling. The tax finally fixed by Congress is sw
e-half cent per pound ANTELOPE.
Pre-