The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-08-02
AS TO THE MERCHANTS EXCHANGE


Since the war the mercantile element Q
the community has not been characterized b
that harmonious and concerted action whic
is marked feature Of other cities, for tn
reason, perhaps, that it has sympathized wit
the general political disorganization.
The movement therefore for the formal O
of Produce Exchange, finds numerous snI
porters and promises to be success, which
certainly very encouraging in view Of the re
cogniZed necessity for such an organization
We ventured to off r some suggestions in
previous article, which seems to have beel
well received, and desiring earnestly the sue
cess Of the movement, we shall pursue tn
siderations which we think have not been EN-
braced as yet
| We think it a mistaken idea that the Elk
change will bring trade to this city, and those
who imagine that it will are apt to be disap
pointed The institution is purely local, and
intended to facilitate business transactions by
bringing the buyer and seller together at d
common rendezvous at regular hours on each
business day. This is the primary object
but there are other matters which come with
in the province Of the institution. These are
l. To establish reasonable rules and regu-
lations for the transaction Of business, and
enforce their observance by all its members.
q To establish the standards of -four and
IN at inspection upon uniform basis and re-
gulate the appointment Of inspectors
3. To maintain accurate statistics Of the
business, and issue an official market report
The rules and regulations governing the
transactions of the members should be framed
in the general interest Of all parties concerned,
and in accordance with commercial usage.
and should include the creation of an arbitra-
ton committee to decide matters in contro-
versy between MEMBERS who should be bound
to accept the arbitrament and thus avoid use
less and expensive litigation.
They should fix and regulate standards up
on a permanent and uniform basis; and we
have no doubt the proper authority for the
appointm mt of inspectors can be obtained,
as there is precedent for it in other cities
There has always been lack of official
aud unquestioned statistics Of trade at
New Orleans; and this want the Exchange
can supply as L. CARDS the interests it repre-
sents, while at the same time it can easily fur
ri shed an accurate market report, based on
lctual transactions.
The first result Of the successful organiza-
ion of the Exchange, and rigid enforcement
If its rules, will be 10 do away with trickery
n trade, and establish fair dealing-the rules
.tfording mutual protection to both buyer
md seller, and both having recourse fairly
nd eqnitably to the arbitration committee.
To those who are Of the opinion that the |
will bring trade to the city, We will |
ay that in our opinion that is the province Of
Board Of Trade composed Of members rep
esenting all the various mercantile, financial,
industrial and professional in
er SITS of the ctN who should consider the
omrlon good O. FL and concert such action
s may le necessary to attain the desired re-
ult. Srch body is greatly needed to re-
lace that sad failure and effete organization
nown as the New Orleans Chamber of Com
erce, and We trust that the gentlemen who
e so enePetically interested in the present
ovement will, at its completion, give us q
Board of Trade composed Of live business
EN- aoho faithfully represent the community, and
Ill not permit themselves to be entangled in
olitical complications
The Exchange is the scene of actual CON-
ercial transactions, and designed, in q
rely local sense, to facilitate the business Of
ose whose interests are actually involved
lille the Board Of Trade should combin. all
terests in general deliberation for the public
,od.
We have been necessarily brief in our re-
arks, but we trust in the interests of the
opposed organization, they will be fairly con-
IL red, and that the new movement will be
owned with that full and complete success 9
lich previous ones have so lamentably failed