Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1870-03-25
FINANCIAL AND COMMERCIAL

PROSPERITY. Except in public morals, the
country surely prospers. Exports for single
month in 1869 exceed the amount exported in
the same period Of 1868 ten millions of dollars,
Exports of domestic products for the first
eleven months of 1869 were s4l2 9S1 ,4Oi, against
1891, 81, 1859 for 1868. II further appears by
statistics, which will soon emanate from the
Government Bureau, that less than third OF
American commerce is conducted by Ameri-
can shipowners.
LAw,-The Supreme Court of New Jersey,
following the United States Supreme Court,
holds that a mortgage executed prior to 1852
must be paid in gold. There are many Of this
sort unextinguished in the South,
BASKs.-There are said to be seventy Con-
gressmen of the lower House who own national
banks, and are presidents or directors or share
holders, and seventy more who are for sale or
have already sold out, The enactment of the
Funding bill, like the election of Grants sue
cessor, depends upon the national banks.
Politicians, who are spreading their sails to
catch breezes to watt them into Office under
the next Administration, will find the shortest
route to success through the banks. Money
is power and Office, and everything save honor
and enduring fame. There are those having
most Of it whose regulations will rot, and
smell to heaven before the worms have break
tasted on their reekins, fostering eorpses.
Money, while they live, is their disinfectant,
purifying the atmosphere. and filing with
gilded glory the sunshine in which they live
and breathe.
PROGRESS attention directed to the
creation of manufacturing establishments in
Memphis is indicative ola better time coming.
Water works will soon be constructed, and +,
costing two millions, will draw hither foreign
wealth and thousand mechanics. The En-
pire Manufacturing Company is organizing its
forces, and gathering capital for the Wholesale
grinding of bones, the production of paints,
marble dust. soap. roofing and other commodi-
ties, which can be produced here cheaper than
elsewhere. Mr.. Woltering has been chosen
President Of the company. His Thorough prae-
teal good sense, control Of capital. and CON-
prehension Of every necessity incident to the
success Of such a company, assures the at
tainment of ends proposed to be accomplished.
1t is proposed to obtain subscriptions, payable
in small monthly installments. Seventeen
thousand dollars are already secured.
CorroS.-Y was exceedingly dull.
and the market shows no signs of marvellous
improvement this morning. 1t is very funny
10 see an old. grave. dignihed white man pick
ms locks of cotton in pieces, shaking his ven
cradle bead oyer il, and muttering wise saws
and ineompFehepsible iargon and predictions.
When We reflect. however. that he holds in
his grasp that which invests the savage with
his first shirt. and directs his first impulse to-
ward civilization and Christianity. the tasks
Of the cotton broker assume a very different
aspect. There is food for myriads Of the poor
Of Europe and America, and clothing for the
whole hanas race, spd FF9grfFs IL maTals and
intelligence. in the heecy staple; but there is
not much money mi II, and Of that the broker
dreams most when he mutters over the little
white cloud he holds in his hand. whence
blessings are rained down 50 profusely.
lev srilsTs sFp FeSeiEsd fspN abroad to be
filled in this market. Local speculation stands
aloOf, frightened. doubtful, hesitatins. It
darcs not touch the staple. Holders demanded
all day Yesterday &c. for middling. while
buyers offered ne, lEly 40 bales we're sold.
aiddnng. 2i92pfes low middlings, 2c;
clean stained. lsc; mixed. l7sls1<c; low or
binary. l5,lai6c. Little Is doing this gloomy
morning.