New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-03-22
louisiana ABROAD.

We who so much need immigrant num-
bers and capital look with much concern
upon the unfavorable impressions spread
throughout Europe in regard to our be-
loved State. The mission of the Fusion
lists to Washington was avowedly intend
ed to make the whole United States aparty
to our domestic controversy, and from tha'
point of national observation the impress
sions spread all over Europe, winch 10
implied in the statements, 'LoulSlalla ii"'
become an Independent State, ana tha'
'sPinchback had armed the negroes anu
having united his forces with those VI
Warmoth, is marching on washington
Sncb impressions, followed by our pecu-
mary embarrassments. must have Deeu ue-
r;,ed from those who raised the outcry.
..the unfounded and unwarrantaple para
orapb Of Sunday last" comes as ram
of sacrifice taken in the thlcket, Dut II Is
no adeouate atonement nor explanation OF
the crime committed against our CONNER
cial credit Some papers pubHshed
among US in foreign tongue. OF known
hostility to Republican principles. may
have aided to disseminate these patent
absurdities. But the mischief Of dlscredlt
has gone abroad, and the tardy attempt to
correct the damage by certifying that 1t
does not e1st-can have no effect. The
Picaytne, after having charged upon q
paragraph the whole responsibility thus
tenders its assurance:
We therefore deem il our duty 60 repeat,
that the merchants and bankers OF New Or
leans have conducted their business III the
most cautious manner for the past year,
and are in a thoroughly healthy condition.
Now the politician who makes trouble,
knows no more about the extent or cure of
his mischief than he who intlicts wound
is held to understand its surgical treat
ment. The merchants and bankers Of
New Orleans have conducted their bust
ness in the most cautious manner for the
past year." have they? Now. this was
very prudent in the merchants, but yet, as
is not unusual, the assertion in one column
of the Picayene is contradicted by the
facts set forth in another. Under report
of the bankruptcies of last year. the Plea
y,lne says the failures were last year eighty
five. with liabilities of So. 100, 900, COM
pared with forty-f and liabilities Of
50, 437. 900 in 1871. Here was last year
Of cent hank
ruptcy; but for the caution certified By the
Ptcog,,ne the losses might have been much
greater. New Orleans is, IN truth, tinan-
cially sound, but owing to the dangers OF
reputation and riot her merchants have
been running under ''slow bells ever
since the blockade of business has been
proclaimed as an element of political
warfare. The proportion of values
in bankruptcy and taxable values
in New York is as about one dollar TO ten
In New Orleans about as one to twenty
five. Hence, New Orleans Is on even
sounder financial basis than New York.
Whence, then, this increase within the
past year of ninety per cent OF bank
ruptcy in Louisiana: We answer. with
out hesitation, it is in our opinion caused
by political assations which have OBJ
structed trade by counsels 10 overthrow
the State government, ly killing those who
adhere to it. by advice to resist the pay
ment of taxes. The very fact that our
produce sales are 50 large. while bank.
ruptcy is so much on the increase. proves
that some extraordinary cause has been at
work. 1t has been traced to it's origin
and to its authors. the New Orleans Pica-
ynae and its allies.