New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-02-02

HAessIs. 0tfdruey o. Oo,i inc prthcipal rear
estate auctioneers in the city, have been
moderately attended, but the prices real
lied have been extremely low. A very
large lot was to have been offered
by this firm yesterday, but only few par
GELS were put up in consequence of the
apathy of bidders. The particulars of the
sales will be found in our local columns
Ne other real estate auction firm is doing
anything worth reporting. Real property
has now fallen in price below any ruling
rate for many years. A purchaser with
ready cash could easily realize ia from six
to twelve months three hundred per cent
by buying and holding real estate Ac-
counts from the country indicate that mat
ters are even worse there. With recon
struction, which we now regard as certain
within four months, and the stability that
this great event will give to all the institu-
tons Of the state, political, financial COM
mereial, and agricultural, the attention of
capitalists will be turned in this direction.
Money is what is needed. There is an
abundance of fertile idle land, and of
manual labor white and black 10 place
Louisiana in the foremost rank Of Southern
states. All that is required is capital and
credit, both of which have been hopelessly
sunk in the late attempt to break up the
Union. The evils resulting from that un.
wise and wicked war are entailed upon
us as legacy and show themselves
on every hand in a hundred ways
But we can and must cure them. Every
day brings us nearer to the desired result;
imperceptibly, perhaps, to many of MS, but
nevertheless surely.
We have nothing of satisfactory charac-
ter to record in municipal affairs. On the
contrary, there remains much undOne that
should long ago have been attended to. In
consequence of the failure of quorum in
each board of the common council on Tues
day night, several important measures
under consideration have not been per-
fected. MIR. Treasurer Howell again an
nounces that he will hereafter pay out no
more city notes above the denomination of
three dollars. But this plan has
been in nominal operation nearly
all summer, and has no doubt ag-
gravated the financial difficulty. By
this means, discrimination is made by the
financial officers of the corporation bev
tween the largo and small denominations of
city notes. And the brokers, who are in
terested in any scheme which brings them
preft, follow out the idea to its logical Sc
quence, and keep up the rate Of discount
on large bills to a shameful price. The
people seem to have entirely surrendered
up their judgment in money matters TO
their "adviserE," the brokers, and pay them
well for fleeing them. A vigorous system
of redemption, if once adopted and carried
out, would, without any doubt, remove
the present and too long existing
anomaly. As matters are now conducted
it will require about three years to
retire the large notes in circulation, but
we hope other minds and different intel.
ligence will be employed in municipal
matters long before the lapse of twelve
months.
In amusements we have had a tolerably
successful week. Mr.. Forrest has termi-
mated a three weeks engagement at the
st. Charles during which, for the greater
portien of the time, he drew crowded
houses. Mr.. Jefferson has had full house
at the Varieties every night for fortnight.
The Academy Of Music has offered series
of most excellent entertainments with the
exception of Durivage's very silly burlesque
on the eonvention) and has had good
houses. The Opera has been rather
better attended than usual. During
the present week LOFTS celebrated
German grand opera troupe will appear at
the National theatre, Flotow's martha
is announced for tho opening night. The
troupe comes here with high recommends
lions FROM the Western cities.
The convention mas made good progress, |
and is rapidly completing its labors. Al |
ready more than one hundred and thirty |
articles have been adopted. The constltu- |
lion of 1864 contains enc hundred and
fifty five. Al
The Republican clubs throughout tbs
parishes Of Orleans and Jefferson are pre-
pairing vigorously for the coming election.
There are, as yet, no signs of any very
formidable opposition to the regular Re-
publican ticket. Tho Democratic state
central committee has issued a manifesto
To the people of the state Of Louisiana. 7,
containing seven octave pages Of words,
but not tangible practical idea. But this
$ characteristic of the party. We shall
notice the address at an early day.