New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-10-16

richer deposits will be opened than hay
ever been known. 1t is true that Mexic
has her own mint. but the manufacture {
coin can be done cheaper in the Unite
States, and as our silver currency COZ
responds with the Spanish unit of value
millions of bullion have been brough
here III the past. employed in the pu,
chase of goods, and coined in American
currency on account Of the holder. Be
sides this source Of probable employ
ment, there are many States OF Contra
America, as well as on the west coas
of South America from which larg
amounts of the precious metals are ex
ported annually in bullion, for thes,
States have themselves no sufficient min
for coinage. The whole value of preciou;
metals to which New Orleans can thus
have access from this quarter may be
| safely estimated at forty million dollars
per annum. The extent to which it may
| be coined, or received here must depend
upon the inducements which we offer,
either in the act of coinage. or in the
/ stock Of goods which New Orleans can
present to the traders and merchants of
those countries. The principal reasons
for restoring the coinage at New Orleans
is the necessity of providing for the i'm
mense drainage of silver caused by the
demands of the ASiatic trade
The manufacture Of the trade dollar
destined for this purpose has tasked the
machinery at Philadelphia to its utmost.
that Of New Orleans can not be allowed
to stand idle. To give our readers some
idea of the absorption Of silver by the
six hundred millions Of Asia. it is only
necessary to take our own trade with China
and the East Indies safely TO be estimated
at twenty-five million dollars Annually
but this is but one item in this immense
commerce. The exports o: India alone
amount to more than three hundred mil
lion dollars: its imports to about half that
sum, leaving the difference to be imported
in the precious metals which enter the
circulation OF that country and is never
re-exported. The balance Of trade is. in
like manner. in favor OF China. Persia.
Turkestan and Arabia. All these countries
are commercial creditors Q: the outside
world wit. which they deal. and each i'm
ports and withdraws from European circu.
.at!oa the coin received in its exchanges.
The American trade silver dollar is intended
to perform the office which. the Mexican
dollar has heretofore monopolized. twill
be made to conform exactly to the stand |
ard Of weight and fneness which this vast |
commerce demands. and it is expected to |
in amount and ;nternat!ona! |
confidence :sny other currency heretofore
Employed for the same purpose. There is
probability likewise that there may be
ecoinags of our silver currency. The
elative value of gold and silver. as fixed
" law. has not tended 10 encourage silver
S currency. and it is probable that to
nake the whole silver coin correspond to
lultiples of the new trade dollar would
realty promote its circulation. When.
owever. we add to the probable creation
values at our mint the specie re.
a!pts from cotton and other resources,
may safely be said tina. New Orleans
an handle one hundred and fifty millions
specie annually. Shall tins be suffered
slip through her fingers? Shall it be I
rawD out and expended in the purchase
goods to be sold elsewhere: Shall OUT I
.nks, founded chiefly on the surplus
lpital Of New York. continue dependent
ron the commercial convenience of New .
DIRK? With such field O; commercial t
lterrriSe Mt our doors. il would seem :
1T al :i.ese questions should be an :
sered in the negative. New Orleans has.
.thln SIX days steam, more tnau eight 5
z millions Of people Who are the G
mmercll customers Of ;.U,cV. and o: J!
y Northern cities. Their trade with the i
nitei States amounts, annually to about I
elve millions o. dollars. which is scarce. :.
the tenth par: with Europe. We do {
4 include IN this our trade with the o
auds. That with Cub, alone reaches e
AIRY one hundred millions o: dollars p
nually. Blu: from these figures NAV be ! Il
mated the commerce o! the Gulf o: Il
aX.co, the caribbean sea and the islands q
lich they include. The commerce o.: 4!
sse countries IS III great part due to the d
erlor cities OF *. Louis. Chicago and | Al
uis'!ile. and 20 the millions Of farmers
20 surround them. New Orleans should OF
"a these tropical countries wha, Mr. e,
Hton always claimed for her-,ha. she al
5 20 them, Is Havana. thu great entrepot Il
their commerce. Wha. bette. market ell
Id these millions enjoy: Open at all "
sons, favorable in climate. language. h;
lgion, collecting here all the STYLES of B
rchandise required, conducting the al
nmerce with Europe, receiving by our ne
lmers the immigration, and carving q
the passengers of Spanish America. 10
It geographical position could SO well no
the idea Of an emporium Of commercial re re
ercourse between the climates, produc- or