The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-03-06

--~ 49, $500.
point
/ "Spots" have shown considerable ANNA
ton, and if anything stronger upward turl
than contracts prices gradually advancin,
until there was gain Of about Ic, and hold
ers very Indifferent to sellers even ats his
Indeed considerable trade has probably bee,
shut of in great many cases by the eXtrt n
rates asked, as there has been a continuation
Of the policy CT keeping the asking figure
fraction above the limits of buyers, though
during the past week quotations. have in ont
or two cases been low, if anything, as com
! pared with the current bids.
l Considerable amounts Of stock have been
taken on speculation to satisfy maturing cou
: tracts, some few operators having been sub
Jet to slight squeeze on February, and as
means Of transportation were offered the call
on spinning account improved, but the larges!
reduction in stock has bean made on foreign
account and this is one Of the strong features
Of the market. The amount credited to ex-
porterS is actually less than for either one OF
the other regular sources of demand. but this
class of operators have been free buyers Of
March notices at fall figures and in this way
took at least 5000 bales, aud probably more,
with good reason to believe that large pro-
portion Of tbs above amount will surely 20
abroad. There has been pretty good weed
ing out Of stained, mixed and undesirable
the assortment now Offering is said to be
iqute acceptable.
Future deliveries opened on the upward
turn, and were for short time quite buoyant,
when this feeling received a sudden check
and reaction took place under the selling
out Of a leading short operator who had failed,
and simultaneous free offering of March
notices. The latter, however, disappeared
about as soon as they came out. and with
| ~.
doing better, and receipts at the ports small,
values quickly recovered all they had lost,
and continued toward further gain. An
Other Offering Of notices had only very
| sight influence, az it coMme need to be I'M
dersood that they were being bought in for
exporters, who intended shipping the cotton,
while most of the shorts having apparently
become thoroughly frightened and not only
covering freely but even changing front in
some cases and buying for a rise, it proved an
| easy matter to stimulate values along the
| entire line of contracts.
! The early months showed the greatest in
rrovement and frlnness, with February par
tlcularly strong a few operators as anticipated
being subjected TO a considerable squeeze On
the last days Of the month. A number Of
new buyers have appeared, and fair number
OF orders were received from the South, it is
said, while the position generally for the time
DelN9 seemed TO SNOW greater commence III
al advance than in a decline.
The state Of Trade.
[St Louis Republican, Sd inst.l
1t is two years and four months since the
collapse of 1872 precipitated its gathered
effects on the country, and there has been no
marked progress made in revival from those
effects yet. The event was called a panic,
and it was believed by many that the CO untry
n bo
pang had passed away; that credit would be
restored; that a new confidence would be diff
fused through the avenues of trade that prices
would rise again; that demand would be
strengthened; that the colossal fabric of debt
which had be n accommodating for twelve year,
would be tided over, in one way or another,
and that tle country would enter anew on that
career Of prosperity which had been marked
by dividends Of ten, fifteen and thirty per
cent On all sorts of welmanaged invest
ments. That these things have not taken
place that there has been no general restora-
ton Of confidence and credit; L 0 general rise
IN prices; no speculative demand for prOlucts
no cmbarkatlon OF money in new enterprises,
and no return Of what we took TO be an era Of
prosperity-is a fact known to all.
The shock Of 1872 has passed, but tie pros
tration which followed it continues. What
was supposed TO be a passing panic, proves to
we have done something in the way of recoy-
ering from it, the process appears slow to our
impatient people, and they wonder when the |
old condition Of things will be restored.
1t certainly would be q pleasant thing to |
see Western farmers getting 81 rs for wheat |
fifty cents for corn, and SO, all around, for !
tobacco: to new railroads being built; to
see the iron furnaces of Pennsylvania, Ohio
and other States reopened in full blast: to see
H., J.
indGs!riously aud cheerfully at work at good
wages: to see the thousands of suffering male
and female operatives in New England busy
once more, amidst humming spindles-and
lders IN all parts of the country brought
into active employment; and in due time we
shall see all this. But there is a preliminary
process to be gone through before the pic
iure is pos ,ible-and that process we are now
experiencing.
The collapse of 1872 was as inevitable re-
suit of the tureid prosperity that Pr ceded it
as debt-paying is Of going in debt. If uni
versal going III debt makes prosperity, the era
hat ended in the fall OF 1872 was certainly a
one-the most strikingly prosper
Gus era, perhaps, that has ever been seen ia
his country. On the other hand it, as unro-
mantle economists declare, a time of paying
t-bss and So iaring up generally is an era of
lealth, our condition just now is one of striking
'alubrlty. One is the result Of the other, and
he two togt Their make up that cycle of bust
less which young men engaged in trade rare
y think Of, and our experienced business men
ire apt to lose sight OF.
If We imagine a thrifty grocer in the midst
If fifty weii-to-do families, selling to these
antilles, day after day, their supplies,
N credit, we have animated picture o +
business. If we i'm glne this process going
N till the grocer bsglIs to grow o little dis
rusiul about his Gu ,tomer-, we have con-
lition of uneasiness. If, next we imagn
he grocer coming to the point Of resolving {
hat he will sell these de btor customers no
more supplies, except for cash, and dem and
ng payment of their old bills have a 5
miniature example of the collapse Of 1872 and
he ordeal that followe it.
When the jostle of 1872 came in New York,
lrSt tl,Sinn tha great rail Hay nelkS to tntter