The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1870-12-24
Talk on Change.

We find the following article in Sat
urtlay'S Now Orleans Commercial Bull !
etin:
There is nothing special to note in
reviewing the business of the week, eN
cept that cotton continues to come in
freely, and exports have been cores
pondingly large, and in consequence
thereof, there is :, decided relaxation in
the money market, which is now easy
for all parties engaged in legitimate
business, who do not venture i'll Specu-
latiVe transactions. The announce
ment that the Radical caucus at WASH
ingtOn have " agreed to diSagrce,' on
the subject of the currency, and let the
question lie over until the next session
at least, has abatcd apprehensions aris-
ing from anticipated mcddling with
monetary matters by Congress. Both
lenders and borrowers have Il clearer
perception, therefore, of what their re-
| lations will be for another year, that is,
so far as their relations, can be affected
by legislation. There is, however, Il
feeling of distrust as to Il future, neither
very near nor very distant, that pre-
vents contracts on long time. This
distruSt arises from financial condition
| of the cOuntry-;t Superabundance OF
paper issues and Il steady outflow OF
specic-and it will continue to affect
business until the cause shall have
ceased to exist. In specializing upon
the probable duration of the war, we
see no reason to change the belief we
expressed weeks ago, that it will be
protracted struggle. Some of our CO.
temporaries, here and elsewhere, at
taching, as we think, too much conse-
quence to the fall of Paris, which has
already held out longer than was ex-
pected, and may yet be defended longer
| than hopes that have seemed oVer-sin-
guine anticipated, have decided that
peace must be the immediate result of
its surrender. The energy of the
French government, unity of the peo-
pie and the intrepidity with which the
raw lcvies composing their armies con-
front the victorious veterans of the in
vadcr are scarcely paralelled in history,
in so brief a time after overwhelming
disasters, and neither the spirit nor
temper exhibited by the nation war
rants the conclusion that the loss of a
city which cantains only abOnt a thir-
tieth part of the population of the Re-
public and is not indispensable for war
supplies must end their efforts. a
blockade of their ports would be an in
comparably greater aggravation of the
situation. 1t seems to be settled that
England will not be drawn into Il con-
f1ict with Russia Russia, if all signs
do not fail, will soon be marching into
Turkey; Austria, having no money but
irredeemable paper, is impOtcnt for
war, and Italy and Spain are paralyzed
by domestic discord. This condition
of affairs lasting, Germany and France
will have it out single-handed, and the
man who hazards a prediction as to
when /, life and death struggle between
two such peoples will end, or what the
issue will be, has a faith in his prophet
ic powers that would justify him in be-
coming professional fortune teller.
We think our contemporary is mist;,-
ken in maintaining that the superabun-
dance of paper issues is influencing bus
mess injuriously. The Treasury state
ments show that there is I, constant and
heavy decrease going on in the volume
Of currency in circulation. The plain
demands of business are suffering on
account of the inadequacy of our circu-
lating medium, and it is to this cause,
not to Il supcrabundance, we would
ascribe the effect mentioned by the
| Bulletin.
Other causes, of course, combine to
produce Il low cotton market, the prin-
cipal cause being the war now going on
in France, the duration of which is only
conjectural, and, therefore, preventing
all speculative demand for our staple
But the depression which exists at
trade centers, we do not think will be
felt very long in the interior. The crop
this year has been grown mainly con
Sharcs.' Tho laborcr will divide losses
with the planter, and thus, while the
profits may not reach by One-third
what the planter estimated for, still the
loss in deprecated value will not be
felt so sensibly as if he alone bore the
expenses and losses of the crop. Money
may not be so abundant as last year,
but the financial condition of the cOun-
try we regard as sound and vigorous.
Lient. Coy. Dunn, the African Lion.
The Washington correspondent of the
Picayunc tclcgraphs the following to
that journal, in reference to the move