The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-09-01
CREsCENT
ANNUAL COMMERCIAL STATEMENT
-TeR rEAR-
Ending August 81, 1868.

Inc Conmercidl year enolng tDlS evening opened
upon us with all but the gloomiest prospects for
commercial, agricultural and general business in.
terests, the public health and the public veal
There was scarce an interest that was not de-
pressed or discouraged; and only the most san
guine looked with hope to the approaching bisi
ness and planting seasons. -
The causes that wrought this condition of affairs
and filed the public mind with grave apprehension
are too recent 20 be dwet upon. We we're in the
midst OF a severe epidemic that continued with
marked exscerbaton for nearly two months
longer -OtheT Gulf cities were similarly visited ::
the cotton crop fell short Of all ejaculation the
food crop did not come up to expectations: our
labor system was nigh utterly unreliable, owing
IN great measure 20 the demoralizIng "protec-
ton" Of the freedmen's bureau which was
virtually setting a premium on idleness. Never
was the plsnter more In need, seldom was the
factor less able TO help him cotton had fallen 20
figure anticipated by but few if any. bringing
disaster upon thousands; planters experience
during the past season 50 generally discourag.
ing that nothing could be predicted as to the
breadth OF land that would be cultivated the
approaching season. or how much would be de-
voted TO the great staple plumber Of iBfuentisl
journals were urging unwisely we thought
that cotton be wholly or in part absnd oned-and
finally the political situation inspired Widespread
and deep distrust, partisan Congress 80 legis-
lstiDg Sc TO deprive the property and intelligence
OF ten Southern states OF any voice or influence
IN the management Of public affairs therein.
Happily as the year advanced the clouds began
to lift. Early 10 November the yellow fever ceased
to be epidemic, our business maTts began to show
signs OF life and absentees began to return.
Early In April cotton advanced at a wholly
unlocked for rate. causing uDwonted activity 10
the market pulsstng through every branch of bu.
siness, and modifying somewhat the views Of
many regarding the deThrOnement of the " king"
To what extent this advance in the leading staple
affected the planters views we will not undertake
to determine. But be the proportion of the
breadth MA hat .
compared with the three years preceding, ii is
certain the yield per acre promises 10 be conside-
fable IN excess. Indeed TO use the language of
The county press, seldom or never were the pros
pects better .nr an abundant yield, in proportion
to the extent OF land cultivated, and 9Th
standing the appearance of the worm, here and
there in a number OF States. The food crops, too,
have yielded most bountlfully; andin connection
with our agricultural prospects we should not fail
TO make mention of the Unexpected, and, on the
whole, very commendsble way in which the freed
men have worked. VIZ
The retrospect rightly read IL instructive the
prospect most cheering, such as has not dawned
upon us In the past eight years. From the chaos
and wreck Of civil war and the glo ON eDgendered
by our hitherto fruitless efforts to reconstruct our
planting interests we are emerging slowly vet
surely into a state whose comparative success is
full of ample encouragement. There needs now
only such reaction 10 political sentiment as shall
inslst that legislation, State and Federal, instead
OF being given over TO inscriptions partisan pol
at large.
1000 Cotton.
AS we suhjoin monthly statement Of opera
tons in the leading staple, with the ruling quota
tions, at the G ose OF every month, and ia our
large sheet give full tables Of weekly operations,
we deem II unnecessary to do more here than
briefly refer to the more striking features of the
movement during the year. At the opening mid.
ding cotton ruled Inactive in this market at 2S1c
1heDcefoIward. TO the last week Of December il
steadily declined; al the latter period being quoted
at l44gl44c. per ID. showing net reduction, ia
four months. OF l4c. u ID or about 100 per cent.
Early 10 January 1t rallied. however, and with
gradually rescive feeling reached 24c by the last
Qf FebrnaIy-- IL remained sEathss- Ase.sv during
March, but early IN April suddenly rose fully 418c.
~ N, and ranged throughout April, May and June
at 27G32tc. u D.. Subsequently prices were, for
the most part, irregular and unsettled up to the
close of the year, when the market exhibited tr
fling recovery from the lowest point reached, but
sull continued for the most part inactive wing to
the light supply in factors hands, and the ineerti-
tude regarding the immediate future of the cotton
interest generally.
The annexed summary. from our daily reports
fully sets forth the annual movement. Its reel.
procal relations with exchange gold, freights and
the New York and Liverpool markets, will be duly
appreciated. Parties who understand the ordinary
course of trade can readily appreciate the difficult
ties which had TO be encountered during the past
year by all connected with the cotton m arket.
And we think We have already furnished sufficient
data to account for the heavy losses which some
OF those have sustained, as well as the reasons
why other parties. no better posted or more as |
tute, have realized competent fortunes or unex.
pectsd profits. The fact is since the Atlantic cable
get full operation, dealing in cotton has be.
come more hazardous Than almost any other pur-
suit.
COTTON STATEMENT
Stock hand sept l. 1897. ..............., nsss
Rsceived since September Is. 1867 -. .6S6 69s