The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-05-08

PIRATE remedy would certainly be found IN
the Constitution.
Damage Allowances on Goods Imported fol
Interior Cities
The Secretary of the Treasury has sent the
following important letter to the collectors O
the ports of New York, Boston, Philadelphia
Baltimore, St. Louis, Mobile, Chicago, Gin
cinnati, New Orleans and Portland, Maine:
EXECUTIVE DEPARTMENT, !
Washington, D. c., May l, 1875.
Sir-The Department decided, In substance
on the oath ultimo, that the act Of July IA
1870, made no change in the rule OF law ex-
listing when that act was passed, as to the date
of original importation, and hence, that any
previous decision Inconsistent with this view
must necessarily be overruled.
As necessary consequence OF this decision,
the department on the 18th ult. suspended,
temporarily, by kilograms directed to collect
ors at the several ports designated in the act
OF 1870 and acts amendatOry thereof, the
further allowance Of damage on merchandise
arriving at their respective ports as ports OF
final destination; and also Withdrawals from
warehouses without additional duty after one
year from date arrival at first port.
The Withdrawals thus suspended are with
drawals forconsumption on payment of duties,
the instructions, of course, not affecting With
drawals for export.
Referring to the several sections of the act
of1S7O as re enacted in the Revised Statutes
(sections 299O-2997), you are requested to re-
port whether it is or is not practicable to
make, within ten days from the date Of the
original importation at the first port, due ex-
animation for allowance of damage incurred
on the voyage of importation as to merchan-
disc intended for immediate transportation
under the provisions OF said act.
find eY1a ma IN m
you will state your reasons for that opinion
If you find it to be practicable you will please
suggest such rules and regulations as may be
deemed expedient for carrying the same into
effect
In this connection it is proper to state that,
although the department has deemed it neces-
sary to suspend said allowance at ports of
final destination, such suspension does not
in any manner affect the right of importers,
at their option, to claim damage allowance at
ports of first arrival under the act of 1893 (R.
s. 1926 ,2927). provided they waive, as to the
damaged merchandise, the privilege of imme-
diate transportation under the act Of 1870
A report is desired at as early date as may
be consistent with careful consideration OF
the subject. I am, very respectfully.
b. II. BRIsTow, Secretary.
Cotton supply and Prices.
The Liverpool Daily Post Of April 19,
makes some very interesting calculations and
conclusions about the supply and probable
price Of cotton for this year. 1t shows by the
business Of past years that the requirements
of Europe as to supply of cotton are fully
5,698, 600 bales per annum from all sources
For the year ending October, 1874, the actual
supply was 537, 600, being little short; but
the deficiency was made up by the surplus on
hand at the beginning Of the year. the sur
plus for the current year-that is. from the LIST
of October last-will not exceed 5000, 600 of
bales from all sources making a liberal esti-
mate from the LIST of April to the LIST of Octo-
Der next
The heaviest stock in all European ports is
computed at $4,000. Adding to this the
estimated supply for the balance of the year,
we have a total Of g. 452, 600 bales to meet the
consumption of the twenty-siy weeks from the
LIST of April to the LIST of October; and this, at
the ratio of the deliveries of the last six
months (lO8, 400 bales per week., would only
leave 634 900 bales stock on the LIST OF Octo-
Der next in the ports of Great Britain and the
rest Of Europe, as against 1,27O, 900 bales on
the LIST OF October last year. Toe Post says
that the trade of the country, as regards the
demand for cotton goods, is at present in
tolerably healthy condition, and that stocks
of such goods are now so light in India and
China as to require constant supply.
The estimates and conclusions, which seem
to be well sustained, show that the stock of
cotton in Europe is likely to be much less
than usual next fall, and if planters do not
hurry large crops upon the market they must
get better prices than their staple has COM
manded for several years past.
To show who these interested parties are, |
and how they operate to depIess the market,
We copy what the Post has to say about
gambling in futures aud "cotton bears:
We fear, however, Fools Paradise" has
for some time been the abode of the cotton |
spinners, not only of Europe, but of America
also. The delusive expectations Of super
abundant supplies and coming low prices fer
the staple, even lower than before the Ameri-
can war, when crops were raised in the
Southern States by forc1d labor, and no
wages other than bare subsistence, have. alas.
been too tempting bait; aud, as we hay. all
along pointed out to spinners would be the
case, they have been woefully misled by de-
signing cotton gamblers styled ''bears;" that
is a class of men who sell cotton which thew
do not possess, but which they hope to be
able to buy in the future.
By so putting their paper contracts in COM
petition with the bona fde property of others
which costs SO much actual cash expend-
iture bearing interests and charges. they
hope, and have too often succeeded in
forcing down for q time-assisted by false
and scandalous reports of the supply
the value of cotton. To the surprise Of all
practical men, the chief seat Of these gam
hlers Ia in Nav York. and the desire to