New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-06-07

been growing poorer ever since. Does
the Nation seriously think it would be
wise in the national government to allow
this class to again revolutionize the South:
THE MISSISSIPPI VALLEY AS A HOME
MARKET.
The REPUBLICAN, as journal read and
respected by the governing majority OF
the Union, employs this opportunity 10
present to those called to vote on the ma
tional levee system some authentic reasons
why this great work should be made and
maintained at the cost and under the
supervision of the national government.
We assume this national power of land
reclamation and protection as undisputed.
Our purpose is to convince certain great
interests in our country that in doing a
work of justice they will promote their
own industrial interests in exactly the
same degree that they do ours. 1t is,
therefore, proper to consider the Missis-
sippi valley as home market, and the
levee system as a measure protective Of
all the chief industrial interests of the
Union.
l. AS a home market. A memorial,
compiled by the Louisiana Levee Com
pany, showed that the Mississippi valley,
properly reclaimed and protected, could
produce 100000 bales of cotton. With
out infringing upon this area the former
crop of 1885, 900 hogsheads Of sugar could
be increased to 10000 hogsheads. This
would, at present or probable prices, be
worth, in specie:
5000 600 bales of cotton, at $50 $450, 600 900
100000 hogsheads Of sugar, at $780,. 5000, 900
Total. ss25, COO. 900
The product of this area, cultivated in
1873, was
Bales.
Received at New Orleans ,4o7,a2l
Exported East direct (estimated) ......... 10000
Total. .................... .........1 ,607, 821
Values exported from Now Orleans s ll8, $50 798
Exported East direct. 100000
Total. 5 l30, '6O,19S
The sugar products were 95,S37 hogs
heads, and 161, 2O5 gallons of molasses,
worth together, s12,000,0e0.
Such is the home market of the Mis-
sissippi valley subject to overflow. 1t
shows present capacity to produce specie
values of at least SAP, 100000. 1t claims
a possibility of raising these values to
more than $500, 900 specie annually.
We will now proceed to show to what
extent the permanent reclamation Of this
area would operate as a measure protec-
tive of the great interests now called on
to vote for the work:
/. AS basis of national credit, resump-
ton and maintenance of specie payment
The value of cotton exported from this
valley being estimated as above at $780,
100000, may be accounted for as esti-
mated on conference with the best au-
thorities as follows: The exports of cot
ton from New Orleans are, foreign, 1. 155,-
ZIG bales; -coastwise, 252, 7O5 bales; total.
], 4O7, 521 bales.
The foreign bills of exchange drawn
against this export is estimated at
s75, OOO,0 900. The domestic bills, or those
sold against re-export foreign may be few
millions more. But the coastwise exports
are chiefly drawn for and paid in goods,
domestic or imported into the Eastern
cities. If to this estimate we add the cot
ton shipped from the valley direct to
Eastern cities and exported thence to Eu-
rope as stated above, we can not surely
err in assuming that the cotton grown in
and exported foreign from the valley of
the Mississippi gives to the nation specie
worth $50, 1000, 900, and this amount null
tiplied by the number Of years since the
war will show more than 5000, 100000 of
specie funds contributed by this limited
and impoverished area to the true basis
IF the national credit abroad. We might |
add the duties on foreign
consumed by the same
lrea, which can not certainly be less on
he representative values imported by all !
'outes than $40, 900, 900 per annum. This
annual value will more than pay the in
crest and sinking fund of the part of the
rational debt payable, interest and prin-
ipal, in coin. We have assumed in this
stimate that the sugar product of Lou
siana keeps at home $4,000, 900 specie,
7hich would otherwise have been ex-
orted to pay for cane sugars. This is
he same as if that amount OF specie had
cen drawn from foreign countries.
We have shown that the Mississippi
alley already affords capacity for large
reductions of specie staples. We will
OF descant upon the immense increase Of
lese values when the alluvial lands shall
ave been permanently protected and
lied with the labor and capital
to their full develop
ent. But we will now show the
Itent to which the fiscal, financial !
I'd industrial interests of the Union will
anticipate in these products. The ma
onal debt is now about two and q quar-