New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-09-02
NEW ORLEANS REPUBLICAN, TUESDAY lsEPFEMBER 2 1878

! of the present transportation company, it
| would be too much to expect from them
! that they will reduce freights to minimum
| rates when they have it in their power to
exact more liberal compensation. Their
| duties to their shareholders are paramount
/ to their obligations to the community. 1t
is only by an efficient opposition that the
great waterway can be fully utilized for the
| benefit of the western farmer. Moreover.
| the recent trials on the Missouri river show
! that it too presents fair field for barge
| transportation; and what is true of it is
| equally true of the other tributaries
| of the Mississippi Probably more than
| barges, rugs and freight-steamers for the
navigation of the Mississippi and its
upper tributaries, with the result of fair
! dividends to owners, while ire: gifts would
| De reduced to minimum rates, provided al
ways that the necessary river improve
| ments be made by the government. In con-
| necti0n with this subject it must not be
overlooked that although public attention
| ls almost exclusively directed to corn, be-
cause from its lower value it is less able
to bear railway treights than wheat and
provisions, yet If freights be reduced 70 the
extent they may be, the river would be the
outlet for these articles also. As much
| wheat would be exported as corn. and large
amounts of boxed meats, lard and ticrce
DteI, III al VI WHICH We d
large shipping business.
These considerations suggest. with an en-
phasis that can not be misunderstood, the
Importance OF simultaneous action by the
West and the South in every measure cal
culated to promote the commerce of the
Mississippi valley While the West takes
from us our sugar, mOlasses and rice. as
well as our imports of coffee, salt and other
articles, and we take from the West its
,a,+ and WaS-arp m nj
features. each being liberal customer of
the other, they should exert their united
influence in obtaining from Congress such
appropriations as are needtui tor the I'M
provement OF the rivers. and the deepening
OF the outlets to the Gulf, and whatever
other measures may be required By their
common welfare.
While unity of action is SO essential to
the common interests of the West and OF
the South, it is equally if not more import
ant among all classes OF our own citizens
among real estate owners and merchants
but especially among the commercial
classes. We have on more than one occa-
sion earnestly pointed out to landlords how
deeply they were interested in our com
mercial prosperity. and that any increase
in our trade by means of new railroad con-
nectons would benefit them indirectly
quite as much as the merchants directly,
while on the other hand commercial de-
cadence would inevitably be followed
BY a decline in rents. Unfortunately, the
truth of these propositions has been
alarmingly illustrated by the latter in
stead of the former At ne time
within our recollection have we seen as
many buildings for rent, not only dwelling
houses Of all sizes, but stores, both in retail
and wholesale districts. Nor has this been
confined to the summer season. It was
noticeable last winter, as well, and landlords
have foundit difficult to get tenants even at
reduced rents. This is nothing more than the
regular operation Of the law of supply and
demand. When few public spirited men
made an earnest effort to obtain the sub
scriptions necessary to save the city, inter
est in the Opelousas railroad and extend it
through to the Sabine, they met with little
or no encouragement from real estate own
ers of almost princely rent rolls. These
millionaires were satisfied with their in
come, but were too short-sighted to see
that if this railroad measure failed, as it
did fail, their rents would be diminished,
and the market value of their prop
ertv deprecated. Had it succeeded we
would have been saved from impor-
tant diversions of trade, new impulse
would have been impaired to every branch
OF business, our population would have IN
creased, and dwelling houses and stores
would have been III brisk demand. There
would not have been notices Of go let" on
houses ana stores in such localities as Camp
street. between Prytania and Canal, nor
on Magazine street, below Lafayette. The
law OF supply and demand would have
operated tavoraDly 70 them. instead Of ad.
yerselv. and rents would have been fully
maintained or have materially advanced.
The railroad enterprise failed, and there is
none so blind that they can not see the re-
suit. In all public enterprises too much
has been left to our merchants. who, not
wiIhstanding the erroneous conjectures of
critics in other cities, are really distin
guished By their liberality and enterprise.
When any other community OF 200 900
souls can show body as limited in number
as our cotton factors, advancing money and
credit to the extent of thirty millions an
nuaiiy. not in speculative enterprises but on
d single growing crop. thereby augmentlng
| tie product hardly less than fifty per cent,
il Will be time enough for thougbtless per-
| sons IL other communities to censure them
for illiberality ard want of energy. But
| surely when they have thus strained every
nerve and absorbed all their resources to
| increase the receipts OF a staple which has
! the most powerful influence of all products
! IL promoting the general prosperity, they
| may well leave to their landlords. to whom
| they pay munifcent rents, the task OF aid
| ing railroads for the common benefit.
!
sugar factors, who have suffered such seri-
Gus disasters during the past year from the
| uptavOrable turnout OF the sugar crop.
But while real estate owners should unite
| in promoting every measure to preserve and
extend the commerce of the city, it is no
! less incumbent on Our commercial classes
ito make incisive reforms OF every abuse
| calculated TO check the movement of trade
! or overload it with unnecessary burdens; to
| cut down all charges which will bear re-
duction: to combine against any more than
! a fair compensation for tOwage. compress
| ing, stevedOring. insurance, storage dray-
! age. or any other service by any class what
ever, and TO effectually enforce salutary
reform in sampliny and inspection. as well
as in the handling of other products 1t Is
! to the honor of our New Orleans factors
that they have always taken an enlight-
/, ened. unselish and liberal view OF their
own position, regarding themselves as not
merely engaged in commerce for their indl-
vidual profit. but "a the agents, the trustees,
the guardians of the interests OF their con
sttuents; they have been as earnest in
promoting the welfare OF the planter as
their own, and acting in this spirit they
should. by laudable combination, eradi
cate every abuse adverse to the trade, the
| charges on which must ultimately be borne
| by the producer.
CoTToS-At the commencement Of the
year the growing crop was variou-ly
estimated at :, 250000 and 100000 bales
Southern opinion leaning TO the former and
Northern to the latter. In the previous yeal
the result was 100000 less than Northern
estimates and about 3o0.0l0le less than South
ern. Many long crop men who had backed
their opinion by wagers, and had wor
largely in 1901, lost more than their pre-
vious gains in lS7l-72 With this example
the general tendency was 10 place the mos
reliance on Southern estimates. and it was &
growing conviction that as the factors wert