The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1867-05-08
NEW ORLEANS CoBGESP0NDENCB.
New ORLEANS. Nav I'd. 1857.


the famous, or infamous, as you like, An
erican Snowman, juggler and humbug huS
ter, P. T. Barnum, sold the ground t
James Gordon Bennett, of the New Yor1
Herald, who has erected there a costly an,
elegant building for the business of hi
paper-and the feats of tricking SO lon'
practiced on the public will compare poorl,
with those to follow, and the spot o
ground may be considered consecrated II
deception and vacilation. The HERALD
moved into the new quarters on the TWEEN
tieth ult., and, upon the occasion, was de
livered of IN extra amount of gas and self
laudation. The Herald first appeared te
the public on the fifth day Of May, 1885
and all the good and glory that have &C
CURED to the country since, have been
mainly due to its happy influence, $50 they
claim,) while with equal modesty it is as.
serted that the calamities that have visited
the Nation may be attributed to disre.
gard OF their counsels. They frankly &C.
knowledge that although their ambition
was great, their success has been far
beyond their most sanguine hopes start
ing, as Mr.. Bennett did, with the hope of
reaching daily circulation of25,OOO, the
Herald now issues hundred thousand
copies daily. The growth Of the paper has
only been in fair proportion to the devel-
opment Of the resources of their city and
State, and it has always been conducted in
manner that was in keeping with the
business community in which it Aourished.
As a newspaper, the Herald is probably
the best in the country, but it has never
known either men or politics, and never
had any principle beyond the gathering Of
wealth, it knew "no North, no South, no
East, no West" Except wAen it paid, it
has been true to selfinterest only.
Business continues discouragingly dull,
the only consolation being that it cannot
well get worse. The middle of August
could not be aatter, and the merchants try
to keep their courage up by exchanging
jokes about the fine prospects for long
Summer, plenty of time for fishing, bathing
&C., but the laugh sounds hollow, and
things look-blue. Some Of our largest
houses have discharged half their clerks,
and the chances for the other half are ex-
tremely precarious. A private letter from
a friend in New York, says that A. 4.
Stewards return, which last year showed
an income of nearly two millions Of dollars,
shows this year no income, while II. B.
Chafin Il Co., the largest dry goods house
in the country, return an income Of
eighteen dollars. The rotteness of the
grand National Banking System is becom-
ing more apparent every day, as fresh fail
ures of the legalized swindles, show how
great the inducements are that are offered
by it, to those who wish to speculate or
other peoples money. The speech Of
George Francis Train, to the New York
exposed the dangers into which
The country is drifting financially, in
short and pointed manner, and showed
hat although the deposit Of bonds might
now cover the bill holders, it would not do
SO in the face of panic. But while even
The soundness Of the basis of circulation is
thus left open to doubt--the depositors and
other creditors of the banks started without
capital, as was the case with the First Ma
tional Bank Of Alabama, have no security
1t all. The bonds to start many of these
banks are borrowed, and paid for with the
notes obtained from the Treasury depart
nent when they are deposited, so that the
owners Of the bank have really to pay only
the ten per cent. margin, and bank with
nominal capital Of half a million, has, in
act, only fifty thousand dollars. In nearly
very case Of failure, thus far, the facts
lave shown that the failing bank was
'tarted by adventures: without capital, and
hundreds have been thus ruined by specu.
ating cashiers and presidents, into whose
lands the control of affairs has fallen
These men were aloyal," and therefore
heir nefarious transactions are CLOSED
'ver as much as possible, it having become
notorious fact that "true blue" was
perfectly safe from prosecution, no matter
what his derelictions, provided he did not
'windle some one higher IN office.
The news from Mexico gives an account
VI another wholesale murder committed by
ne forces of Juarez, sixty-seven Mexican
'ficers of the Imperial forces were captured
md shot, in cold blood. Private dispatch
y from the reliable gentleman received
his morning by the Times, gives state.
nent of another battle near Queretaro, in
which the Imperial forces suffered a terri
Die defeat, and their leader, General Mira
non, was killed. After the battle the
Liberals occupied the city, and although
search was made for Macmillan, he had
lot been found, and it was currently be.
ieved that'he had escaped in Disguise
For the sake Of humanity we may hope
hat this is SO, for judging by their actions
n the past, the forces of Juarez will hest
ate at nothing in cruelty and bafbarism,
when successful.
The political complexion Of our city is
,etting decidedly dark-and we seem to be
n danger of being left entirely under negro
control. Of the number of voters already
registered about four-6fths are colored, and
his class are holding their separate politi-
al caucases, and will probably run sepa-