The New York herald., 1874-10-10

Z rpents street mborefs mechanics employed oy the
ClSy Engineer, cily and state officers, the police
and host OF others, supporting In the asgregate
nearly Thousand souls They are paid monthly
IN scrip, which, under the
MALADhIsIsTRArIoN OF PUBLIC AFFAIRS,
has become almost worthless. To-day city gold
bearing interest bonds paving ten per cent per
annum are selling at forty cents upon the dollar
and all other city securities in proportion. CITY
TO resign from poverty, ne himself IN ormtng nle
that for year ne mas barely realized 500 rom Tue
sale OF his monthly warrant. The teachers oi tne
pupilc schools u few days ago received theu saia-
ries Tor May, ana the date OF settlement win
street laDoters seems beyond the IeCohecuon VI
the oldest inhabltant
While those IN humber walks were reduced TO
these extremities the condition or the better Grass
does not appear TO have been much better MANY
merchants inform me they nave pareiy paiu run,
nng expenses tnat reauc,on o. M ans na va neen
force and the cutting down oil salaiies nave neep
absolutely necessary, and that to-day tney wouu
gladly close their estaoishmeus At . loss OF MY
cents on every dollar invested.
Pent up. then, dnring long and weary summer
In hot city deprived not only OF uxurles. put III
This climate the necessities OF life; living day IN
ana day out on mere bread and meat and ID many
scarcely tnat. that turbulence snould be ex-
cited Is far from That people 10 SO dire
an extremity can pnllosophize upon the origin OF
their anotner question. In TINS nnu
much disagreemenf, a majority attrioutihR every
misfortune TO the present government gente-
man VINO has at nis disposal more casn tnah any
In the city said TO your correspondent;
knows but no government could rectity the M
takes We have made or undo rne injury ior whlca
We are partly 10 DldIuc. fIcNious " 'nO W"s -.
plant Tar 40 visited New Orleans represented not
only the interest on his property, Dut tle earn
sasses ass o. ners iTo every a SosGs xorsn Of sup
plies they required. There was no money
whatever in the coantry-n iacs, no use for II, as
every demand was paid by draft upon the COM
mission merchant. Now matters are reversed.
crop does not oelopg to the planter but 70 the
colored aborer IN the country who must receive
the cash by the middle OF December. he pur-
chases hls supplies from the country store Keeper
who Guys in the North and West New Orleans
slmulV does "A c1mmisSfOR OusfueSs. and guODlleS
that portion OF louisiana and Texas which our
means OF transportation command instead OF
building railroads. when we had the money we
have permitted our trade 70 be diverted Dy every
commercial city III the country, and instead OF
developing new fields iOr commercial intercourse
we have been satisfied to do
STRICTLY A COTTON BUSINESS.
Even in tins we are limited solely TO the COM
missions on sales as all know mat every dollar
used In the purchase OF our staple comes from the
North and Europe, and that every dime OF profit,
excepting alone the commissions and cost OF hand
Notwithstanding these gloomy prospects II Is
eentended by many sagacous gentlemen that the
business OF the approaching season Will be pros
porous. They say the crop throughout Louisiana
is better than 1t mas been tn years, that planters
owe less money than they did year ago. ana that
the labor problem, which ior years proved most
perplexing has found solution satisfactory 20
hotn parties. WITHIN the last few days disp0sl.
tion on the part OF coored leaders 10 unite with
their mite fellow citizens has been quite apparent.
most influential colored man In New Orleans that
we're the negroes guaranteed iar representation
the Offices OF trust and all their rights under the
constitution they would gladly unite with the
white people and prepare ticket in the approach
ing election which both races could support.
Armed organization on the part OF the whites has
Impressed them lar more tnan casual observer
would suspect. Their opportunities lor obtaining
reliable information are almost unbonDded. There
is not cook, chllds nurse, waltlngmaid, once
boy, porter or warehouse man VINO does not report
every word overheard; and the freedom with
which Southern people talk in the presence OF
their colored attendants ID SIMPLY extraordinary.
To their perfect knowledge oil the prevailing SEN
timent do attribute the sudden change OF their
own, and
WHOLESALE RECONCILIATION
between the two races at any day should not sur
hdence seems the immediate cause OF distress.
am told that there is to-day less money deposited
in banks than at the same period In any previous
season. This, Il is asserted, is not because the
chants and capitalists prefer keeping their funds
In private vaults TO enfrustfnR them to the banks
Fears are entertained thai the annual loan OF rom
600 to $500 900 each MADE by New York and the
West to the banking INSTITUTIONS here Will not be
forthcoming, and that In consequence the means
necessary Tor moving the crop Will come from the
slow purchases OF Northern and European spin
ners. This would naturally check an early open
ing OF trade, but might not possibly AFFECT the
price Of cotton as the supply OF that staple, from
lack OF upcs TO move 1t, would not be greater than
] the demand.
/ Tne auction house, upon whose statements
4 base many OF the assertions previously made say
occupation of Acting Governor Penn, they made
! large sale OF property, at which there was
I a better attendance and far more liberal bidders
! peatedly asserted that were Louisiana blessed
with state government all articles OF value would
| appreciate fifty per cent. l doubt that In any
ately follow but certain 1t 49, until some arrange
ment can be made by which investments can be
guaranteed capitalists will keep tigDt hold on
every dollar, and expenditures Will be confined to
fnn 90 a