Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1870-02-19
WEEKLY HERALD
SATURDAY, FEB'Y l8, $50.
OFTioH o. TuH vIOEuuuRo REllLp,

good, aud Il Is cheering and en-
cOuFaging 10 merchants AVID 10 the
Individual, 10 note the brisk and
active stage Of Onr mercantile and
commercial interests. There has
not been the same rush and gorge,
as II were, 0 ftrade Whichhas some
times characterized other periods,
but thus far through this season
trade has been fair aud steady, one
that prospers the ,merchan! aud
benefits the community.
Our banks report gold, buying,
llS@ll9-only half cent. below
New Orleans. Exchsnge-selling
on tho principal cities at par. In
this respect we present the same
financial facilities as New Orleans,
which IL worth remark. Money
easy aud in fair demand, REQUESTS
for discounts small. We have a
regular banking capital in our city
banks Of between SS5O,OW and
100000.
Cotton statement 10 February l6,
from tho New Orleans Price Cur
rent: Bales received, l,9l9,040; tx
cess over last year, 44A,467. For.
eign exports, l,0i4,40S bales coast
wise, 593,50L Excess Of foreign
exports over last season, 200,S
excess cOaSlwise, 2s,I3l. On hand
and shipboard, 5l0, 1875; excess,
l46,Ss4.
In the early part Of the season
the HERALD thought II advisable
that planters should not rush their
cotton upon the market but ship II
steadily and regularly AMI AS they
found 1t necessary. Not 10 hold
cotton merely for speculation but
not to glut the market and force
down prices. Aud so we express
cd ourselves. The result of that
policy is now shown by the fact
that the shipments of cotton hav.
ing so far been quito regular and
uniform the price has been 50 to q
great degree. The fluctuations
which have occurred have resulted
mainly from tho wonderful decline
in gold aud the abrupt changes in
quotations that have marked other
seasons have been avoided by the
steady aud uniform course Of ship
msuts pursued by the planters.
This we think to be generally The
case.
The HERALD's superstition, alsp,
that cotton would hold IN New Or
leans at about Is cents has been so
far justified. That has been the
average price we believe. Though
the present receipts Of all the ports
show a large increase over last
season, yet there is no reliable
grounds for believing that our es'
innate of 100000 bales for the
present crop will be much below
the mark.
That the average price of cotton
this season, measured in gold, has
been above the price for the same
neriod Of last season Is well known
"a our readers. The Influence o
this fact upon the question OF IN
,uro rates is evident. Last yea
the effect Of high values ruling wa.
seen in diminihed consumption
In this country, for instance, thr
Northern mills consumed for spin
ming only 767 ,5l2 balcs, ngains
G6I'S4O bales the previous year
and AZ present their weekly con
SUMPTION is still fnIther diminish
ed, In Great Britain the consump
lion Of 1869. was 930,Ol9,O6O ID.
C26aS46O bales) against 99G, 1877. IL
ibs. (2.oOI, $40 bales) for 1868. Her
ia falling OIL of 57,l7S,05O lbs. rt
tulting from the higher prices. Ill
Temporary activity at M1nchestC
during late weeks OH account Of u
home demand for goods is evident
Iv leading many to forget the ine'
liable working Of this natural LIS
TuE Hoo CRoP, The Chic92
Tribune, In an editorial on the 10
OF farmers by grain raising dnrit
the past year, says they have iouu
martial compensation IN high plic'
realized for their hogs, the receip
from this crop having saved many
ibem from bankruptcy. lG hogs HI
been sold at a price cortcspondll
with wheat, there would have be-
widespread distress In the we
and ali classes of business III
would have felt the sharp pin
which would have Iprr vented far
ers from paying for past rurch4,
and buying new bil'so goods. u
the farmers have not made The m'
out of the situation. Ihou
sbrewd enough in driving their
binary bargains, encouraged BY
prOpnosis Of q short crop, many
them bought pork at high prices
the full extent Of their means, 0
have recently had the satislacll
of settling with sellers alta loss
two or more dollars per barrel, u
losing every cent made by The =
of their hogs. Speculation III p'
has been much more rampant
winter, than in any former y
since the close Of the "
and much trading has b
done for parties in the count
While this has benefited comr
sion men, and put money into
pockets Of sharp ones here, 1t
not been so conducive to the In
esls OF farmers and droyerS I
they can afford to repeat the ex
Fiment.
The exports of -four from I
eagO dcring tho past year have Io D
according TO thiS report Z,3SS.
bbls. against 2,309,6l9 last
son ; Of Wheat 1924 249 bus
; against l0,37A6S3 last seas
Of Corn q, 8 sos bushels age
4A77S626 last year; Of Oats ~
Rlk hnsheia against l4,44063O