, 1873-11-02
Cotton and the Financial Troublos---
The Sugar-Planting
Interest,
The Transportation Question and Grain
Trade-~~Lack Of Capital.
Tho mississippi Bar, and tho Proposed
Fort st. Philip Canal...Politics.

molAaHeB, dau rice haVo thus lar boon worry BLOW.
Tho season la fully throo weeks lnto, although |
tho Weather for month back has bean all TINT
could DO desired for gathering tho crops. Tho |
currency panic, howcver, Inns far moro than |
balanced tho favorable weather, and tia receipts
Of cotton from tho 1st Of September to lato hAyo
boon but about $4,000 balcs, against LA, 600 the
same time lust yoar. Tho receipts Of now sugar
md molasscs have been hardly worth mention
ing.
COTTON AND THE FINANCIAL TRoubLEa.
Slime tho suspension Of tho banks, tho deal
ingH In cotton have beon on the basis Of certified
checks. This las had tho effect Of impeding tho
business and checking snlos. The checks
hnvo boon At . discount Of from ~ to
10 per cent from the very day Of tho suapcn-
sion. Last week 1t wRs decided, by resolution
Of the Cotton Exchange. TINT, on and after tho
10Th Of November, all transactions shall be made
In currency. Tho banks at first suspended for
but thirty days. which expired on tho 25th inst.
They have, however, extended the time indeh--
nltely. They will keep 1t up, probably until
thoy hayo Bont enough cotton North to leave 3
balance ln their favor there. Until thon 1t would
not be safo for them to reaume at least, that is
felt but, as this is long suffering community,
THE suaAR-Hl.ANr1No 1STEnEsr.
Tho sugar-interost Of this State has been, for
tho last fow years, waning ono. For some
roAaon the augar.plantcrs do not aeom to make
succoas of tho freo-labor system. 1t In probA-
bio t}1at tho fault is not 30 much In tho RyBtem
as IN the connection with it OF tho extravagance
Of detail which accompanied tho o1d-ttmo way.
At al events, the fact is patent, that this most
~ 4,,4n f.,n
bellum times has OF latoboen little better than q
mae1Btron into which many an unfortunate
planters fortune has boen engulfod The num-
Der who are really making money at 1t is few,
while hundreds Of plantations are lying quite
idle, being eaton up with taxes, and thor broad
acres fast growing up to woods, and rctrograd--
Ing to the condition in which Do Soto found
them.
THE TRANSPORTATION QUESTION.
There ia but little interest manifested hero on
| the subject Of cheap transportation in propor-
| In the country which has 30 much to bo gained
| by tho agitation Of this question as Now Or
leans. At present, there ia nothing done here
which could possibly be aigniaod BY tho name Of Of
bulk docs not amount to vossel.load month.
and that received In sacks iB distributed around
| tho country for home consumption AZ to
| wheat, there has not q vessol-load cleared this
year. iAcIo QQeo HUE apPear " W MuoA uuuus.
among those who oughtt to know the most about
| it, that grain can DO brought to this city from
the Woat, down the river in barges, grent
deal cheaper than 1t can be aont to Now York.
| Tho difference in favor Of Now Orleans is cob
siderable. Tho obstacle to her ever having OBJ
tanned any at tho grain trade ia gonerally be-
| levcd to bo the uncertainty Of Vessels crossing
the bar ut tho mouth of tho Misaissippi. Tlis
may to some extent bs truo; but, to my mind,
there arc other and creator obstacles than low
I fr1 hal nnh
| THE MISSISSIPPI DAR,
It is q remarkable fact about this bar TINT.
when the water Of the river is at it's highest
Stage, there is less depth on the bar than when
river was within feet Of high-wator mark, tho
mouth of the river WAS blooaaded with Vessels
hard aground; aud now, whom tho river is u
foot lower than at that tino, tho largest
shps have no difficulty in going out a.; and con-.
river is highest, it contains tile largest proper
ton Of sediment. When 1t is lowest, 1t is almost
clear. Tie bar ia formed BY TUG sediment com.
ing in contact with tho salt and still waters oi
tho Gulf, and Aettling at the BOTTOM. OF course,
when the water is clear there is no mud to set.
tie, aud, consequently, tho channel ig alwaye
good. Tho only way in which the bar ID made
passable at all for large vessels, when tho -rive1
is high, is BY tho constant dredging Of tho twe
powerful dredge-boats-tho EHBayons and tue
McAestor- which the Government keeps at the
PasBes. TheBo dredgea are sort of double-8ndoc
propeller. Tile wheel ut one end forces tht
boat forward, while the ono at the other throwl
carries along and deposits somewhere clse. It /!
obvious that at best this iH but poor method
for keeping the mouth OF 50 great river open
The work must be done unroInittinEly, and Ia
therefore, very expensive Tic proposed reno
dy for this is tho
FORT 81. PHILIP CANAL,
to which frequent reference is made in th
Western papefs. but Of which very little soem
| to he known. I have heen informed that, IN
II rscoa, M even Senator oc Wet DID not ThE sno;
waB for, aud that ho communicated witt
d prominent momher OF tue Chamber Of Com
merce here for information on the subject
Ho had the great outlet canal confounded in LII
schemes passed by formor state Legislature
OF course, if one of those great men who hayt
charge of the interests Of I" this people i
Congress- do not understand these things, com
! mon people cannot be expected to. This canal
scheme is by no means new ono. The rout
was aurveyed great many years ago, and de
: clared practicable. Nothing, however, was don
about It !; aud enough money has been Bpen
since then in dredging tho bur, and lost in dt
tention Of freight, to have built tho canal q dos
! It is to start from point little below Fort III
! Philip, about 80 miles south Of New Orleau'
and run into the deep water OF Breton Ba1
which opens into tho Gull. It is to be 300 fee
|
cost from 90, ,000, 900 to 81, 000, 900. This woul
bring, VESSELS to the city seyoral houra soons
than by tho route Of tho Passes, and admit
those Of tho deepest draft. It Is quito remarl
able thing now to have q vessel croaB tho b:
9 drawing 90 foet Of water and It Is claimed thu
Q vessels should draw as in order to carry grai
L with profit.
LACK or CAPITAL.
II tho Tort St. Philip Canal wore fixed fa
at the preBent time, i.istoud Of being in the ur
). certain condition Of o more project to be Ia!
: before Congress, still doubt II the grain-trai
! could take worry firm hold hero. Ny idea i
I that there Is not money enough hore to manae
q 1t. New Orleans ia not money centI
There arc great fortunos made hore, b,
they arc taken away again, Like the great cor
merclal naarta Of Calcutta and bombay, III
a trade contributes to the wealth Of other parts
k tho world. People make their money hero, NJ
d then leave for France. England, Italy, Il
10 unfortunate, or who, like the Irish, have
country to 80 to. This leaves the city oontin
ally proBtratea,. prevents accumulation. an
what with their trouble and politics. and Il
It dry rot generally which poryades tho rnorcant'