New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-09-01
ANNUAL REVIEW
OF TIE
NEW ORLEANS MARKET,
SEPTEMBER 1, 1875.


constitute the trade of our port, but. in
olseharging this duty, can not omit prefac-
ing the details with such preliminary re.
marks as are suggested by the occasion
AT the corresponding date last year de.
spondency was the prevailing feeling in our
commercial circles. Most branches of trade
had been unsatisfactory. 1t was under the
competition OF other markets to reduce
prices below q fair profit, as there had been
such shrinkage in the volume of business
that II left but little more than paid con-
tingent expenses. In some cases the year
was closed with heavy stocks of goods.
consisting, to some extent, of styles or
Kinds which might go out of use in another
season. But the general complaint was a
loss OF trade, and those who bought DO
more than sufficient to meet the demand,
found their business too limited to pay a
fair remuneration. 1t was hoped, however,
that the incoming year would result more
fayorably. An increased demand was an
ticipated from the country still tributary TO
this market, caused by an exhaustion of
stocks IN the interior and the pressure of
the actual demand for consumption upon
reduced supplies.
These hopes have been disappointed The
causes which restricted the movement last
year have had a similar influence since
The depression has been even more marked,
and of greater extent. But the revival of
Consumption, however much moderated by
rigid economy, has steadily depleted
stocks OF goods in the interior. Country
merchants and planters will be forced to
come forward more freely. The labor of
the country must be fed and clothed. Its
payment. moreover, is guaranteed by law
and usage. The white man and the freed
man Wilt be amply able to obtain all the
necessaries they need, and most of the lux
uries they desire. Their custom, even if
there were no other, would create large
demand for staple goods, whether for food
or raiment. The wants of an Individual
laborer seem to be trifiing, but when We
consider the aggreg cate of the multitude em-
ployed in cuitivating the soil. it becomes
evident that it must cause demand sutfi-
cient to impart vigorous vitality to most
branches of trade. 1t matters not how this
demand is enforced, whether by orders from
planters and country merchants, or by
direct purchases from the New Orleans
dealer. 1t must inevitably assert itself,
and give active employment to many
branches of business which are now Ian
gushing.
Another favorable feature ia the situation
of the planting interest. Deprived of the
advances formerly obtained from New Or
leans factors, who were lavish in their ii o.
eraiity, even to fault, but have been liter
ally compelled, by the force of cireum-
eVduCtt. W UDstENe d mUEt CAUTIOUS anu leas
generous policy, the planter, as he has al.
ways done, in peace or in war, has risen TO
the duties of the hour, and while he has
practiced q more rigid economy in his
household, has exerted redoubled energy
in the field. We have heard of examples
of this kind which are really heroic in their
character, and reflect as much honor upon
the actors as their most brilliant gallantry
in the tented field. Such men must newt
ably rise victorious over all discomftures
and misfortunes. They have ennobled Ia
Dor, and afford the surest and most solid
basis for future accumulations of wealth.
With fair supply OF labor at reasonable
wages, harmony between the employer
and the employe growing out uf their com
and genial climate, nothing can prevent the
early recuperation of the agricultural
classes and their re-established independ-
ence. except such crushing disasters as
overfows or destruction to crops from I'M
favorable weather. All the probabilities,
however, indicate q marked improvement
in the condition of the planting interest. on
which the prosperity of New Orleans mainly
depends. If there were no other causes for
renspired homes and confidence, this alone
would be sufficient 10 lead US to cast upon
the future more cheerful look and enter
the new year with courage rather than
dependency.
But there are other causes why the future
prospect is really encouraging. The I'M
dertaking to make connection with the
Texas and Pacific road by rail from Alex
andria to Shreveport promises speedy sue
cess. Every grocer, every receiver of
Western. produce, every wholesale dealer.
" dether in dry goods, the shoe trade, hard
ware, varieties or drugs and medicines, sees
the great Importance of this enterprise,
and is convinced that it will largely in
bia huaiUoas and ~ hiu.
losses. Under these circumstances the
members OF these various branches of trade
will be blind to their own interest if they
do not contribute literally to the con
struction of this road. Once com.
pleted, suitable freight boats will be
placed in the trade from Alexandria
to this port, which will charge reasonable
rates on ali local business, aud make a con-
siderable reduction on through freights by
rail. This will answer all practical pur.
poses for the present. 1t will give to North 4
western Louisiana and Northeaste Texas
cheap access to the seaboard-cheaper even
than by all rail to this city, and cheaper
than to st. Louis, where the delivery would
still be at an inland point, whence there
would still be long stretch of road to
reach the Atlantic. With the completion
of this road we may confidently al tcipate
to receive large portion of the trade, the
diversion of which to Western cities has
been one OF the principal causes of the gen
eral depression of business in this city, and
the consequent decline in real estats. On
this point we lave no misgivings. A
difference against us of hardly more
than one mill per pound will be
more than counterbalanced by the economy
in freights from Shreveport compared with
the rates thence to the West. The sale of
all the products of the district referred to
will naturally be followed by its purchasing
in this market all its supplies of imported
goods and groceries, as well as most arti
Giles of Western manufacture and produc.
ton. The Importance of this connection
has not led US to depreciate the value of
connection with Houston by direct rail to
the Sabine. In the future this road may
prove OF even greater benefit to us than our
contemplated connection with the Texas
Pacific, but the latter is the immediate
question before us. When accomplished,
as it will be at an early date, our people
will be ready to take up the Houston con-
aid. The success of one road, m oreover, will,
We may hope, awaken real estate holders
to the bearing of this question upon rents
and the market price of unimprOved as well
az improved property. The decline in rents
and in the market value of real est ate is
directly owing to the depression in trade,
but indirectly to the depression having been
caused by the want of railway communion
ton with rich and papulous districts which
rival cities. whose real estate holders have
been the most liberal contributors to the
construction of such roads, In fact, the
question concerns them quite as much as the
mercantile class. When they investigate
this question closely, they will find that
railroad building furnishes the surest means
of restoring rents to former rates, and re-
a. = tlax, a.