Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-06-12
SARATOGA.
The BOtCIs, the " alters and the Visitors
New Orleans: Ser Financial
Agent, Her Debt and the Pro
posed Funding Lottery
Sch me.
Cities, Like IndiVIG uRiP, Must Go
through a Probation OF Trial and
TeSt-Ihe Saratoga Races
Harper and His Horse
AOnEfeIIOw.
From an Occasional Correspondent

pie gather here. Bibulating the entire
day. Congress in the morning, Hamil
ton before dinner, Columbian at five il
the afternoon, and Washington in The
evening. Drink, drink, drink. l mel
our jovisl, red nosed friend, COlone
Spooks, at the springs before breakfast
Chow do you dO?" "SpIendid.'
"How many glasses?" Sixteen?'
"Take a stroll?" THANK ye; am in
a hurry" Maidens and matrons in.
dulge as well as the grsybeards, whose
prandial excuses have swelled their liv-
ers, and in the crowd the over worked
business man is largely represented,
finding refreshed energies in the health
! giving fountains that abound in this
valley. / am located at the Grand
Union, to which great improvements
have been added. 1t is the property of
A. T. Stewart, the great dry goods
n erchant, and he has not spared
money to make it perhaps the grandest
and most complete caraVansary in the
world. | have seen nothing equal to
| it in Europe. There are two other very
elegant hotels here, the Congress and
| the United States-all on q like grand
| scale-the latter was opened last year
and adjOins the depot. By the way, |
ing to Us poor southerners. On the cars
coming eastward, / met q Mr.. Schneider,
a prominent merchant and banker Of
the Crescent city, in which he was
born, and speaking to him OF the pros
poets of the south, he felt sanguine that
the tide Of prosperity had set in. Allud-
ing to the wheat crop in Texss-two
counties in that State, Dallas and NJ
Clellan-will make million bushels;
and since here / notice that -four, from
that section, hiss been exhibited at the
produce exchange in New York city.
This crop will be quite profitable in con-
sequence OF its partial failure in the
north. Speaking of the sugar crop, he
said the prospects were excellent. Sixty
per cent. more rice was planted this
year, and to show how remunerative
that cereal is it realizes about one hun
dred and fOrty-fve dollars to the acre.
Now why cannot rice be cultivated in
our (Memphis) neighborhOod-mars
lands, almost useless for anything but a
crop OF mosquitoes-very little labor and
a sure crop? Oh, you old fogy
planters! Won't you wake up and
mix little brains in your
lands and reap The reward a generous
soil yields to wide-aWake energy? Mr..
SCHNEIDER is en- route to Europe to fund
the city debt of New Orleans on 8 kind
of Tontine system, similar to that OF the
late loan of Paris, France, and the New
York exposition buildings. The debt
amounts to tWehty-four million dollars;
they can sell the waterworks for four
million dollars in bonds, thus reducing
it to twenty million dollars in round
figures. The debt is principally held in
Paris and Frankfort, and il is to negO-
tate with the bOndholders directly that
takes him across. 1t is proposed, say, to
issue instead Of hundred dollar bond,
five twenty dollar bonds, bearing seven
per cent. interest; these bonds to run
fifty years, but to redeem a certain
amount every year by lottery, and to
make it attractive as an investment to
give certain amount OF cash prizes on
each annual drawing, so while bond
is drawing seven per cent. interest it
may brig the holder priz9 from one
to ten thousand dollars. They ask for a
little rest, say four or five years, to recu-
perate their finances, during which time
they will only redeem three or four hum
dred thousand dollars per annum, with
an annual distribution of about one
hundred thousand dollars in prizes. The |
debtedness is that the intereEt, not being |
payable annually, but only on redemp- |
ton of the bonds, a saving of nearly !
one-half of the nominal interest is |
gained. Our own city debt seems like a |
great incubus on us; but l cannot help |
feeling that as soon as our municipal |
expenses are brought to a consistent |
limit, three or four years of prosperity |
will make our bonds a desirable invest |
ment. Cities, like individuals, must go |
through a desert Of travail and proba-
ton, and if the spirit of integrity and |
faith in good honest principles holds
sway, the promised land of prosperity is
bound to be reached. "Work and watch
your opportunities" Don't rush things.
Wait! wait! Patience is q virtue; but
let it be virtuOus patience that, by hon.
EST industry, seeks to conquer difficult
lies. Those supine, sOulless beings
scent troubles and disas-
.ers from afar, by law of nature perish
n their own weakness; but to the intre-
Did, the self-reliant, the aith-girded,
sort, victory, prosperity
md peace will surely perch on their ban
lers. Saratoga is delightful place to
include in asummer trip; the excellence
If the hotels; pure air and chloride of
Oredium common salt water, do much
o renovste and rejuvenste. This is my
experience of many years. ETjtuS dcta
'rO6at. There is to be a special attrac-
ion this year in the way of a bost-race,
which created immense excitement last
vear, the crews of the UNIVERSITIES of Yale
md Harvard taking part. The horse
aces generally include the best running
took in the country. About two years
go was present at the race where the
amOus LOngfelloW was beaten, sitting
ext to the late Mr.. Harper, Of Ken
1cky, his owner, and was struck at the
bsence OF any emotion on his part at
be result. In reply to an inquiry by
ne as to the cause, he said, 81 think he
J hurt, and will go and see," rising
uietly at the same moment. His prog
proved true, as he Was for
yer disabled for racing. 1 must close
lis long letter with fresh conundrum
though the article is much tabooed- {
'hich think the ladies young ones) ;
ill enjoy: Why is a rosebud like a {
romissOry note? Because it comes to :
laturity by falling dew (due). {