The New York herald., 1869-05-24

pletsd although the nam points were argued upon
hut that another meeting win be held early next
week The express stocks wero negected, put IT.
regular and generally lower. western Union was
heavy and dun Mariposa was the most active Of
tie miscellaneous list
The following were the closing prices Of stocks on
NEUTRALITY-SUSPICIOUS., 30 30H; Wells Fargo Ex-
press 81 q 3sh; American, 20 . 4o1<; Adams, oo,<
o.. =. Unised States &C 6oA.; Merchants' Union Is
a l5,a; Quicksilver 2oA 2o3z; Canton, e2k es1s;
Pacific Mail, s51i s6Y; Marposa, 23k 23,i;
do. preferred, sos 5oi4; Western union Tele-
graph, 4ss. a 43A; New York Central, 1929 1925
Erie 2s. s2ss.: do. preferred, tlt1 80; Hudson
River, 1897. "A 1887; Reading ss,s q esh; Toledo.
Wabash ana Western, rex n; do. preferred, 81 q
So Milwaukee and 81. Paul, 1874 161a; do preferred,
So IA seis; Fort Wayne, 1914 1885, Ohio and Msss-
sipp 35k SO; Michigan Central, 12sia lso Michigan
Southern, 1061s 106s; Illinois Central, 147 l4s;
Cleveland and Pittsburg, AA s41s; Lake Shore,
1867 1oeK; Rock Island. 128h 1865; North
western, e1ss ok; do. preferred, 1oA1si lo4'+;
Boston Water Power, 16A a Tx.
The books of the New York Central Company were
opened ON SATURDAY for the transfer Of stock, and
the new stock Is now being issued in exchange for
the dividend certificates.
BIDS for 81 900, 600 'street opening and improve
ment bonds" viii be opened at the Comptroler's
once. Tuesday, May 25, at two O'Clock r. N. The
bonds which are duly authorized by the Legisla-
ture are to bear interest at per cent payable
semiannually, the principal to he redeemed In sue
cessive annual insalments OF $3.50 o0o, commencing
November l, 1879.
The question OF resumption OF specie pay yments
seems more appropriate for discussion when Con-
gress In session than when the country Is unable
10 do any thing directly to that end except encourage
its products and manufactures. In the cOntempla-
ton OF the subject, however, we may take into con-
siderauon the influences OF the great Southern
staple, cotton According TO the New Orleans Price
Current we have made too great an allowance for
these innuences:--
Az an evidence OF this we may refer 10 recent
lengthy and labored article in the NEW YORK
HERALD. IN which the writer who processes TO be
thoroughly conversant with the subject, asserts that
'tne labor necessary grow $50 900 bales OF cotton
is close at hand and he estimates the available sup
ply OF laborers at 1900, 900 hands. Various calcu-
iatlons are presented by this writer to show that the
forthcoming crop OF cotton ought TO be double that
OF 1858, his wish being To show what an important
part cotton might be made 10 serve in bringing the
country back to specie currency and more salts
factory condition OF financial affairs generally and
he argues that these results can sooner be brought
about by largely increasing our exports than in any
other way Admitting as every one must MS last pro-
his views respecting the available supply OF labor,
and his estimates as TO the extent OF the next crop
Such extreme estimates, while they can serve & no
good purpose, may yet, If entertained by the public,
be productive OF much disappointment, and this Is
the chief reason why we have thought 1t necessary
TO say what we have. Should the season prove ia
yorable throughout, the extraordinary efforts which
are being made to obtain aborers, and the high
prices offered them, will insure, we think as large,
II not larger crop than the South will again have
the capacity 90 produce for some years to c0ne but
in no event can 1t ever approximate TO the estimate
OF the writer in the HERALD. We say this because
OF the known annual decrease in the negro laborng
population, and for the reason that we can expect
no considerable accessions TO our supply OF white
laborers under the social equality laws which have
been forced upon ms. In the course OF years and
when the white population Will have complete ascen-
dancy, they certainly WILL the now OF emigration
Will, doubt act in this way: but under the present
1 rule business men and mechanics VIII chiefly CON-
prise the settlers among us. In any event, as we
remarked at the outset cotton Is bound TO play the
most important part In establishing again specie
basis for the business OF the cOunty but the sooner
| all calculations to any material increase Of the
| crop, based the present supply OF labor, are
abandoned the better for all parties The truth IL
tins labor question is daily assuming worse shape
for agricultnrsts and many who had calculated
largely on extending the area In Guilty. atOn are now
disappointed and Respondent.
Annexed is a comparative statement showing the
| shipments Of specie from this port last week and
during the year to date, together with those for the
| corresponding periods in 1885,
| 1868. 1859.
| Two frat