New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-09-01
ANNUAL STATEMENT.
COMMERCIAL AND FINANCIAL REVIEW
Year Ending August 81, 1870.

patrons, we present them with the following re-
view Of the trade of this city for the past year.
We would invite the especial attention of our
friends elsewhere to the fact that notwithstanding
the powerful, combined and necessarily successful
efforts of New York capital and enterprise to carry
the bulk of the Western surplus breadstuffs and
provisions the railroads. and by the lakes and
canals, to the Atlantic cities the business of our
city continues to increase and gives fair promise of
further extension.
Only few years ago New Orleans was the principal
commercial entrepot for the reception and distribu-
ton ofthe surplus breadstus and provisions of the
West well of its tobacco crop and Of the cotton
and sugar of Louisiana and the neighboring States
Fleets of square-rigged vessels were required for
the transportation of hour, grain, pork beef and
lard, as,well as of tobacco, cotton sugar and mo-
iasses, to Northern and transatlantic markets
This was the result of the facilities afforded BY
river navigation to Western farmers and packers
whether they used the steamers of that time or
the economical but slow hatboat, they had no
other means Of forwarding to the seaboard as
cheaply and expeditiousy. In fact, for long time
New Orleans was the only outlet for a large por-
ton OF the Western surplus
Even before the late this system had been
subject to material changes The West had in.
creased in population be- yond all anticipation and
with the additional multitude of laborers engaged
in cultvatng its fertile soil there had been great
increase in production, largely augmentng the sur
plus over what was required for their own con.
Sumption and requiring some extensive provision
for its transportation to the seaboard markets.
The Atlantic cities were alive to the Importance of
this trade, and their capitalists and merchants,
with the encouragement and assistance of the West,
projected system of canals, lake propellers and
yaiir roai- oh slso
West, and by such means draw to their own marts
the increasing commerce Of the new States The at-
tempt was successful, and year after year witnessed
az increasing diversion Of the produce business
from New Orleans. This continued until the entire
inter Western and Gulf trade was suspended or in.
terrupted by the war, and nearly the whole volume
rolled along the interior lines OF transportation to
She Atlantic cities.
Since the war our merchants have made earnest
efforts to the recovery of their lost commerce. with
what degree of success will be shown in our
review of the various produce markets In
the meantime the increased facilities for trans
pOrtation by rail, and the low rates of freight re-
sutins from the competition of rival companies-in
some instances less than actual cost to the compa
nies-have introduced additional means of di-
vertin9 trade from this city, which presents quite
grave subject for our consideration as the
the seaboard. We refer the trade of the Western
cities-St. Louis, Louisville and Cncinnatt-in
supplying the planters and country merchants of
the South and Southwest with breadstuffs, prOvi-
siOns and Western manufactures, more expedi-
tiOusly and cheaply than can be done by our mer.
chants. Railroad discrimination between through
rates and way rates has materially contributed to
this result, and produce has been forwarded from
ST. Louis to within few hundred miles of New Or
leans, for less than it could be forwarded to the
point from the latter 1t is not only the West
that has engaged in this trade, but Southern COM
peting cities as well. Memphis and Vicksburg have
considerably increased their plantation trade ard
received in return plantation products.
If a correct opinion can be formed from the ex.
pressions Of the Western press they feel conscious
that they are prospering by trade which they
divert from our city, by which they enriched
and we are impoverished. We hope that we may
be mistaken in inferrns that this supposed
tasonsm ofnterests has excited inimical feeling
toward US in the minds of no incOnsderable num-
Der of Western merchants and writers for the West
ern press. Such conclusions be fairly drawn
from its denunciations of the old fosyism of city
which has done more and suffered more for its
country friends than any city the continent; its
protests against our extravagaut local charges,
other seaport, and its accusations of selfishness
and eXtOrton against body of men whose busi-
ness record for half century is of liberality
and generosity.
On the other hand We find no similar feeling
pervading any class of our community. The South
has always imagined that there was a certain free
dom from prejudice, lberality of mind generosity
of soul and energy of action that was character
istc both of the West and. the South. The en-
iarged views of Mr. Calhoun when he visited the
Mississippi river cities, and gave name to
the Father of Waters-that of the great Inland
echo in every Southern heart.
This of good feeling was only interrupted, not
destroyed by the war, and we can conf
IDENTIFY testify from Our personal obser
vation and knowledge OF the New Orleans
merchants that they resumed their commercial in
-ercourse with the Western people, with nearly
every sentiment of animosity engendered by thesl
war utterly etfaced and forgotten. We regard it
as elinently creditable to commercial classes
IS indicating sentiments of honor and highminded-
ness, not always engendered by the spirit of trade
mat they view all this antagonsm and unfriendly
rivalry with serene equinmity. They witness, |
without nurmer, the loss of trade and can sin. |
eerely congratulate their Western friends on their
Increasing prosperity. Still more cordially do they
eel toward the merchants and people of Memphis |
md Nicksburs, to whom they united by sacred |
associations. In the unseltish spirit of New Or |
cans old tosyism they not only say, but feel that
here is room enough in the great valley for all, |
md that whatever rivalry there may be in trade it
hould be that of friends and not of enemies.
We can not, however, be blind to the fact that |
We have measurably los: the trade in Western pro-
luce, except what is required to supply the de-
nand tor our local consumption and that of the
ieighborinG country and Gulf ports. Formerly. a
leet of tatboats would arrive with -four corn and
PROVISIONS, which, if not sold in block, would be
iviied only by cargoes consisnments. Com.
mission merchant would dispose of flour and grain
" the tatboat load to the shipping merchant for
raus-AtlaQtic ports or particular cOnsiSnments OF
'ork, bacon, bulk meat and lard to the dealers in
N the levee, or at our night exchange, and owners
I'd sellers were ready to admit the necessity of
ii jlstinc their prices in agreement with those of
oregn markets, and the course of exchange and
relshts. These were the palmy days of our West
RI trade. Business was subdivided as all healthy
BUSINESS should be, and all were content with their
shares Of the general prosperi..o =, This
all changed. Flour, for example, come ard
noer cash advances or acceptances NER, N%ew
'r!eanS receiver to such amount that he is COM
eied 10 realize retail rates in order to reimburse
imseh and the whole consignment is sold out in
rival lots, for which the seller receives no more
han wholesale commission. To adjust this mat
er eguitably much higher commission should be
harged on all such retail transactions But this is
ot done, and receivers combine the bu sness of
merchants and dealers. We refer to
his specially merely to indicate the general change
hat has taken place in trade, and refer TO the
etalis OF Hour, corn, pork. bacon and lard to de
nonstrate the correctness OF our view. To lIius
rate it'hoTever, at glance We give the following