New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-09-02
Tota.54.8l8 g. 328 $500 38,las 32,4l8 2oj
FRE1G8rs.-AIl seaports must at some

FREIGHTs.-All seaports must at some
time or other be en- barrassed by a deficiency
of tonnage and consequently extravagant
rates Of freight. To these remarks New
Orleans presents no exception. In former
Years as well as in the one tina. has lust
closed, the regular movement OF commerce
has been INSTRUCTED. attended by heavy ac-
cumulations of stocks. inconvenience to all
engaged IL trade. a tight money market,
from the large amount locked up in the
dead weight of immovable produce. and
probably a change in the current Of trade
and diversions of business to more fortu-
nate markets. But we have no recollection
of any year in which this was SO clearly
manifest than in the past. We will
take. for example. the single article OF
tobacco, of which from $4,000 to 10000
hhds have been detained in New Or
leans from the want of tonnage. Even
now the amount is about $1,000 hhds I'M
sold and awaiting Shipment. Taking
the average OF amounts first named We
have II 800 hhds, or values of over $1,000
coo locked up in warehouses, not from its
not being wanted by buyers, but because
they had no means OF shipment. With al
amp04 supply of tonnage there would have
been no such accumulation. Buyers would
have come forward freely for Italy, Spain,
France and Germany, and kept down the
supply to 5000 or 1000 hhds. Ready sales
would have enabled factors to make prompt
remittances OF reimburse themselves for
previous advances The money to effect
this movement would have cone from
abroad, being realized here By the medium OF
exchange Not only the factors would have
enjoyed the fnancla! ease 20 which they
are entitled By their capital. but the de-
posts at their credit in bank would have
been loaned out to others more needy and
impaired a healthy movement to general
trade. Instead of this they have been COM
PEELED to meet drafts from their Western
friends, without the possibility ofimnediate
endorsement. until their several advances
ranged up above a hundred thousand dol
lars to an indefinite amount. Instead OF
being indirect testers then through their
bank deposits they were compelled 10 come
forward as borrowers. Fortunately for
them, none stood higher in any branch OF
trade-neither cotton nor sugar entitled Its
mem oers to the same smiles and confidence
in bank parlors. They all got what they
wanted but their personal relief was at the
coat Of embarrassments to others more
needy, who could only furnish satisfactory
security. We give this merely as an illus
tration of one of the many evils attendant
upon deficiency of tonnage-a deficiency
moreover not peculiar to our port but felt at
all Others, and especially at all American
sea ports. This at once indicates that the
scarcity was not local but general: and may
be explained in a few words-first BY un-
usual losses at sea having greatly reduced
the number of sea going vessels atioat. Sec
onGly il the absorption of an extra
ordinary amount Of the commercial
marine in the transportation OF the
enormous wheat crop of California,
and thirdly tc American ship building
having been rendered improbable by the
tariff and the consequently high price of all
ship building material, as well as the reces-
sarily advanced wages of mechanics. To
these three causes we may fairly attribute
the scarcity of tonnage and its attendant
evils in our port. The basis of our trade