The south-western. [volume] (Shreveport, La.) 1852-1870, 1870-03-16
commercial Intelligence.
SOUTH W EsTERN OFFICE,
NFI -


Trade during the past week has been hampered
doubts and fears as to the next movement in gold
cotton Purchases have been confined principally
family supplies a small scale, merchants in Il
interior have been parayzed by the rapid and une
pected decline in gold and the depressed ofth co
ton market
1t seems to be the almost universal opinion OF the Ne
York journals that the paper currency is destined t
soon be at par with gold-the Tribune, World, Herald
Times and Express so expressing Themselves Tb
Herald suggests that the Government take measures
resume specie payments by the 4th of July, assumin
that the fall in gold be checked by any effort
ofthe bulls because has dropped from natural
and not under the pressure of sales by the bears
thus concludes:
With gold ct par in the autumn, new impetus woulc
be gwen to enterprise the whole country Capita
would lose its caution and labor be in demand.
thousand and engagements, which are now ID abey
ance through the contingencies of decline in gold
would be entered into with promptness and spirit Tht
nation would the activity of the days before the
The fear that prices will decline with gold is ex
aggerated With gold at par we should have a thou
sand millions Of money to set the enterprises Of the
antly supplied with capital, prices cannot yield SC
greatly to fall back to the figures of old times Prices
have gone up all the world With us they are
three or four times great before the war; because
we nave three or four times much money 1t the
history OF the world that money becomes cheaper
countries grow older.
The New York Bulletin, on the other hand, believes
that bull conspiracy, similar to that which sent gold
skyward last September, has had hand in the recent
tumble The New Orleans Bulletin, in reply to this,
remarks that circumstances alter cases-that the for
eign condition of the country then a very differ
ent footing from what it is now and that any attempt
OF the bulls to temporarily depress gold with the ute
ror design of sending it up like kite, will result in
failure.
In short, the opinion, have before said, is al
most universal that we rapidly approaching re-
sumption Of specie payments, and only skeptic like
ourselves, be found here and there throughout the
country. Our skeptcism is based upon this: Although,
is stated Wall street has, since the decline, actually
been following, not leading Lombard street in this
business, and hence Quotations in London rather
than quotations in Broad Wall street, have been the
pivot on which the Gold Room in New York has been
turning this is of attributable to the large
ports of cotton at high prices which medium
of exchange for European products instead of gold
Now, the question is what is result when the pres
ent cotton crop is exhausted it must be at very
distant day There is another thing: Those w4S are
carrying large stocks of high cost goods in New York
and other northern cities will think it to their interest
for gold to react, and may not this immense moneyed
influence, acting in concert with the bulls of the Gold
Room, produce a reactiOn9
We would not however, wish our readers to be gov
erned by opinion in this matter. We can assure
them it is worth very little, and besides there are
greatly preponderang evidences against our probably
view of the At all events, merchants had
best be getting their housesn order for the anticipated
resumption.
The market has also been very much depressed
during the week On Wednesday last there was almost
perfect stagnation and that day heard of lot OF
strict good ordinary selling low IA cents in cur
rency 1t has since reacted, and on Monday quoted
low midding at 1874 cents in currency and l64 cents
in gold. On the day in question the banks were only
paying l0S for gold The given for the decline
in cotton is the large crop-the receipts at Liverpool
being very much in excess of what anticipated
is also contended that this decline is the natural
sequence of the bolsering movement prices of the
winter months While it is almost idle to speculate as
to the future may safely assume that prices will not
materially vary from this time. The New York Bull
en has the following in regard to sales for future de-
livery
The sales for future delivery comprise $3.50 bales
made as follows 100 bales for pri the basis oflow
at 2214c 100 for April May and June each
at 226c.; 100 for May at 2215c; 100 for do. at 22c.
for do. at &c. 800 for April at 224c. 200 for May at
21Sc; 200 for do at 90 7-32c 200 for do at 225sc
$50 for June at 22c coo for do at 22lc; 2G0O for do
22lc 300 for July at 22l5c.; 100 for do. at 2313c
100 for do. at 235sc.
Yesterday exception to the duh dayswe have
latterly been having Wagons were very scarce and
purchasers not abundant The banks made no change
their gold figures, namely 10 buying and l2 selling
price. There marked improvement in cotton,
and factors not particularly eager TO sell at our
quotations, though they the basis of sales: In
ordinary l7@l71l, good ordinary 1715@1S
and low mddling l81a@l9c. In gold
Ordinary (@l519
GOOD ordinary ..I5% Qlb
COTTON STATEMENT
Stock hand Sept ! 1869 ............b bales. Sc
Received yesterday ........-........... 239
Received previously. I..........8 3d. 986-86,225
86,28l
Shipped yesterday ...................-.
Shipped previously ,5O4-78,5O4
Stock on hand Observation-Disclosures. 7,777