New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-09-02
mind none Of these causes, singly or COM

mind none Of these causes, singly or COM
mined, explain the common calamity.
The first We deem wholly insufficient to
explain why Western exports and imports
seek Atlantic outports by other routes
than the river. The money panic was
confessedly less stringent here than else
where, and our banks and merchants are
properly complimented for their prudence,
energy and solvency. One effect Of The
overflow was to attract very large dona'
tons Of money and provisions. and the
| estimates Of loss from that cause have been
reduced TO some ten per cent on cotton,
while the loss in the sugar crop will be
rather perspective than positive. Its pro-
duct being about the same as last year
The depreciation of State and city secu
rites has been impaired as {. collateral
| basis of credit, while the current interest
as matter Of revenue has remained the
| same
None .! these causes Seem sufficient "a
GCCOuuC u NCClIuS al lAC 1CCclppo VI
tobacco, cotton. flour. corn, hog products,
when these articles are inc reasing in
quantity produced and are still seeking
Eastern and foreign markets by other
routes. None of these causes account
for decline of nearly thirty per cent in
the value of foreign imports, and especially
for loss of some $4,000 sacks of coffee.
The true cause Is that Western produce
goes to Eastern markets by direc: rail;
and on shorter time than it could do by
way II the river and coast. This Is
shown BY the immens, and incr eased sc.
ceipts of Western produce oyer Eastern
lines and at Eastern ports.
The course Of export and inipcr: trade
IS upon the mos: rapid lines and the most
certain Of eonsrmmation. The necessity
Of making produce furnish the means @:
its own purchase compeis all speculative
purchasers 70 slip by !as! lines. because
their ,nany Gego :iations require Il. 1t
induces even capitals. shippers to employ
:as. lines. because the capacity !os early
delivery effects certain insurance upon
,n:rks. prices which may be Of much i'm.
portancc il, the settlement. 0: the TRANSACT
ton. The importation 0: foreign goods
depends greatly upon the same consider.
ton. Hence Western produce %. Eu.
sopean markets 10 longer prrsSes the
route which was once the only way by
which iha: communication could be
effected. Even the cotton product is al.
'ected by the same principle. as is show.
by the immense diversion Q: tho cotton
exports from, the river to the rail. and
:yor the Gui: 10 the Atlantic ports.
To res.o:s :he prosperity 0: New OF.
leans will require the ieve,opmea. Of -
Longitudinal! trade b: which these West.
e.n products. agricultural and mechanical.
may be conveyed directly 20 size markets
Of continental! ..:ae.;ca. 10 effect this
will require:
!. Aid :son, tie diplomatic department
o. The seGe12l government.
2. The organization Of through Zines to
convey the products Of She uppes IVES: IN
exchange Tor the tropical products Of the
American States south Of us. This trade
New Orleans will create and control.
We DO no: write 20 discourage 1:er.
chants o. property holders. but 90 explain
the true causes which haze rot only af.
secsed Cur trade. but that O! all other
cities built upon wasez facilities. New
York finds the ;:ade prce distributed by
her aow moving to its destination by III.
rect rail. Liverpool acknowledges the
same tendency, while the commerce Of the
Rhine. q! Switzerland ard Of Italy with
the commerce Of the ancient East has
been changed b: the same agencies. Each
Of these cities has been compelled 90 bow
beso.e law which they could no: resist.
They have modified their system Of con-.
.nescc 70 :aee. the ex;genc;es. Every ono
Of these cities row carries the sai! 70 the
shipping. shelters the transfer. chespens
the deposit. a:.a relieves the sfansi. Of III!
della; and cost. The bill Of exchange row
controls the bill o: fading. and commerce
connects production and consumption by
the most t!isec: line. New Orleans vii!
adap: her commerce 70 these conditions.
and her future will bs mose sa:. and
xnose splendid than her saes: prosperous
past