The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-09

Important Marine Question.
WASHINGTON, Sept 5.-There is prospect
of an international trouble between this coun-
try and Great Britain that may need another
board of arbitration to settle. Not long ago
an American schooner, the Gilbert G. Trie-
FAINT was sold at Liverpool to British ship
owners, in open violation of the provisions OF
our law providing for the sale of American
vessels. Minister Schenck attempted to pre-
vent this illegal sale, and notified the State
Department here of the violation of the Treas
ury regulations. A very lively correspond
ence has been maintained between the author
tiles of our government and those of Great
Britain. Our people have requested the
British to turn over this vessel to the United
States, in order that she may be hbeled
against her former owner
The Earl of Derby has already decided that
the vessel shall not be delivered up. In the
sale all of the regulations of the British law
governing such sales have been carefully OBJ
served; he sees, therefore, no reason for in
terfering.
Upon the receipt of the decision Of the
Earl of Derby, the Secretary of the Treasury
has issued orders to all Of the collectors of
customs at all Of the seacoast ports to seize
and detain the Triefant, should she ever visit
the country. As the vessel has papers from
the British Government and flies its flag, the
seizure, if made, is bound to cause q good
deal of trouble.
Tobacco Customs.
A Washington correspondent telegraphs to
the Chicago Tribune:
The Secretary of the Treasury has just rem
dered decision, which will be formally pro-
mulpated in day or two to the effect that all
cuttings, SWEEP pings and clippings of tobacco
imported into this country will be classed as
manufactured tobacco, subject to an internal
revenue tax Of "a cents per pound III addition
to the customs tax.
This decision is in accordance with the In
ternal Revenue law, and reverses decision Of
the Department made early in 1870, wherein
such tobacco was classed as unmanufactured
and subject only to customs tax OF ~ cents.
The Commercial Situation.
Last week fourteen dry goods firms failed in
Montreal The Toronto Monetary Reuieao des-
cribes the situation as Zone OF unusual ex-
element, not to say apprehension. The
There are daily disclosures of embarrassments
among the iron and machinery men, the shoe
and leather trade, and the grocery houses.
The New York Bulletin, in referring to the
prospects of the fall trade, says: To say that
our agricultural population is prosperous Ina
I plies q great deal for the general trade OF the
country; for this interest constitutes the SUBJ
stratum Of the whole trade OF the nation.
While this interest prospers, others that are
suffering have an important source ofsupport
against their reverses. This consideration is
important because there are branches of in
dustrv that are still severely tried The iron
trade, now grown to q vast magnitude, though
only yery partially employed, is yet produc-
ing in excess of the current consumption,
and it would seem as though it would reach
its final level only through worse experience
than it has vet suffered. The wooden ana
cotton manufacturers are embarrassed py
over-production on the one hand and TOO
high wages on the other, and therefore losing
rather than gaining by their operation,
The building trades in the Middle ana
Eastern States are absolutely stagnant; and
the thousands of workmen employed IN them
have little to spend.
The same may be said of nearly every
branch of manufacturing industry. All TINS
means limited demand for goods IN the
States of Pennsylvania and New York, and IN
New England; and all that can be said In
favor Of those sections is that the healthy
condition of things in the agricultural States
lays the basis for an early improvement ~
the East.
The strictly mercantile interest has just
now some important advantae es that maybe
relied upon to Offset its misfortunes for the
last two years. 1t seems to have now got
through the process Of decline in prices by
which such heavy losses have been made
during the past two years. This at least may
be reg arded as true of a large majority OF
articles. 1t has the advantage of reduced
rents, lower salaries, and very exceptionally
low rate of interest.
Stocks of goods also are generally very low,
which diminishes the liability to cutting
down prices in order to provide for payments.
So far as respects these circumstances, mer-
chants are in o better position for realizing q
fair profit on their transactions than they have
G1non a survey Of the main conditions affect
ing trade, we feel justified IN concluding that
the results of the business Of the fall are IKE
" to be more satisfactory than anything we
have experienced since the panic. i seems
quite likely that, provided no unforeseen mis-
fortune should occur, the feeling in trade cir
cies viii improve as the season advances, and
that the trade of the latter half will be entire
~ satisfactory.