The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-03-31
NEW ORLEANS,


NEW ORLEANS.
THE CRESCENT CITY HOPEFUL OF REaA1NING
HER ANCIENT COMMERCIAL PREsTIGE-GooD
PROSPECTS OF THE COTTON AND SUGAR
CRoPs-CAPITAL Observation-Disclosures
TON FACILITIES NEEDED.
NEW ORLEANS, March %, 1875.
In common with her sister cities, New Orleans
has commenced to feel the thrill OF revival now
permeatlng all branches of trade throu ghout the
country. AS yet 1t Is only slightly manifest. but
sufficiently so to awaken q hopefulness ana
ergy among the people TO which they have long
been strangers
UNEMPLOYED CAPITAL.
Unlike the great cities Of the North, with varied
and abundant resources, New orleans is always
dependent for prosperity upon the production OF
the two great staples of the Mississippi Valley.
Fortunately, last years yield OF both these crops,
while exnioiting some falling of, was. in the
main, highly satisfactory. They were raised
more economically than usual and, as
good prices have been maintained, the re-
suit has been most beneficial. The planting
community is better on financially than at any
period since the war, and the banks Of New Or
leans are overlooking with unemployed capital.
This Is the bright SIDE OF the picture but there Is
o somore one the result OF bad government and
reckless legislation. manllestng itself IN paraiyzed
energy anu q lack OF confidence, which has almost
reached the limits OF general Generalization. A
city IN which real estate has shrunk to half Its
intrinsic value can only move manacled on the
road back TO prosperity, and even under the most
favorable circumstances 1t Will be many years be.
lore New Orleans can regain the commercial pres
uge and position IL once maintained In the CON-
munity OF trade centres A succession Of good
crops and the gradual enlargement OF the pro-
ducGive area will do much toward retrieving Its
condition, and, with Wow OF ascertalntng the
prospects in this respect your correspondent has
made careful and extended inquiries.
THE COTTON CROP.
At this early date IL is, Of course. impossible 10
form any accurate opinion In regard to the
prospective yield. The ploughing season has been
delayed by bad weather, but the production prom.
ises to be fully equal 10 that OF the past year. II
the factors manifested q less conservative ten
dency and were disposed to advance freely the
crop. would doubtless be largely increased, but
their disposition and ability to make advances are
declining every year. The planters are thus held
In check greatly to the financial DISADVANTAGE OF
the business community.
1t Is estimated by the Secretary Of the Cotton
Exchange that the falling of Of cotton receipts
this year has cut of a profit OF over 81, 0OO, 600
from the general trade. This falling of has been
manly due to the want OF production. but also IN
. great degree, to the diversion caused by
opening new fines OF transportation TO
the North and East. 1t Is the generally
expressed OPINION IN cotton circles tnat
TINS falling OF has reached It's limit. and that
succeeding years will witness the GRADUAL recla.
nation OF the trade now lost to st. Louis, Men,
pins, Galveston and other rival cities. proml-
nent feature Of the cotton trade IS the growing
tendency to ship direct TO Europe. and New YORK
receipts rom tnis port are destined TO exhibit =
1urtner decrease.
While ,ne FACTORS are all hopeful and unanimous
In expecting marked and steady Improvement
in business, they do not look for any suaGen or
extensive revival. Their confidence III the future
OF New Orleans Is more less shaken, how
justly only time and experience can determine.
TIE SUGAR CROP.
Sugar planters made better crops last year, and
are now more pi osperous than at any lime since
1Os00o the preceding year. This crop was
made very economically, and Goa manded fair
ages aud leaving tnem ia sound financial
condition. 1t IS very evident that under these
2 be and IN very Larger
new crop VIII exhibit large increasc-over 2O0, 900
hogshcads. Wages are low. the winter has been
very favorable Tor seed cane, 0nd although the
planting has been delayed by heavy rams, the
prospect Is in every way nattering. Apprehen-
SONS OF overflow exist IN some localities, but as
the river Is now four iect lower than at tnis time
last year they need not be regarded as serious.
The condition Ol the sugar actors Is not 80
favorable. Tney have lost so heavily up to the
present year as TO hardly recover through this
crop viii Oe raised on less advances than the Old
one, and That me planter - asst becoming, by
force o, necessity, entirely Independent of the
mercbanE
WESTERN PRODUCE.
Dealers in Western produce and provisions all
speak encouraRin2ly OF the prospect. They unite
In the opinion that "bOtGom has been touchedn
ana that henceortn trade must steadily and
rapidly improve. The trade OF the Mississippi
tributaries, upon which the western cities made
such successful raids a lew years ago, they cam
IL being rctored 10 New Orleans. Within the past
three months tue Red River business, oLce mo.
n0poizsa at this point has largely Increased. THIS
10 attributable to the improved condition OF tho
planters, VINO are now enaDled 10 operate on
cash basis, and are consequently becoming inde.
pendent OF the trade iaeltIlles winch diverted
their business 10 st. Louis and out VI It's iegiti.
mate cnanUeL the depression 5it in this branca
mas existed Tor Jour or 1--WE years, but 1t Ia now
constantly improving. tue result OF low prices and
enormous crops. fnc summer Will De dull "a
usual, bat splendid iali business may be
confidently anticipated. Satisfactory settle
ment oil political trouoies VIII restore toe con.
1deuCe necessary 70 attract md control capital.
Already New Orleans is gaining largely in Iore!gn
trade. The Importation or coffee nnd sugar ana
the expectation OF 1our and grain H. Dulk ali
snow marked increase ond ali the signs or the
times pOiut TO closer and moro extensive business
td0utlly with the great Wes.
THE JOEDISG TRADE.
The JObblng business EXHIBITS IN oil its branches
more signs OF dept sssl0n than any otber ana Is
represented by q low old and very staunoh
hIuana Ita Anues Auu oxupatutiauA Ara nav