The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-11-09
Commercial and Financial Matters


cation Of the kind, and the appointment of
committee to draw up suitable charter to be
presented to the State Legislature at its next
session. We hope this matter will elicit the
sympathies and co. operation Of our mercantile
community generally.
We have seen a telegram from Capt Kouns. OF
the steamboat Alexandria, dated Jefferson,
Texas. November 8, stating that he had to leave
that place with about 100 bales; cotton all GO
ing East by railway" Now, should not this lit
tie item cause our merchants to feel a certain
degree Of humiliation To within short space
of time our trade with that portion of Texas, of
which Jefferson is the central point. has been
quite extensive; but now we see that the st.
Louis and Eastern drummers are drawing it
away from us. One week ago, as we are In
formed, there were seven representatives In the
town Of Jefferson of st. Louis mercantile houses
alone. against one of New Orleans. The presence
OF the steamboat Alexandria showed that no
excuse could be made on the score of want of
shipping facilities to this port. A thousand
bale boat could obtain only one hundred bales
OF cotton for New Orleans. the great cotton
shipping port of the United Statesl
Our people of the Crescent City must open
their eyes. cast Off the lethargy which seems to
be weighing upon them like an incubus. and
use their best efforts and energies to recover
the trade of Western Texas; If they do not do
80, we will lose it aItog ether. and that soon.
A gentleman connected with the Texas and
Pacific Railway Company. writing from Mar
shall under date Of November /. speaks as fol-
lows, and we wish to draw particular attention
to his letter:
We have effected an arrangement with the
International road to send through cotton to
New Orleans from all stations on that line north
Of Austin and Palestine. and hope to, secure Q
mr. in nf IA In GinnG nNnd nh
that section. We now have an outlet from Tyler
by ae Tyssr tap and are moving dg f to sixty
point. Have put on lower rates from all points
on our line and expect large shipments. We
Should BE- able t2 give you now from GOO t2 800
exertion upon the part of the New Orleans mer
chants to tNrn this trade back to that city. From
the rate is as low and in most cases lower, to
New Orleans than the Galveston rate of cotton.
IL New Orleans had half the enterprise of st.
Instead OF 600. Can 1 you stir them up and get
both men and money In the fled2
ing for New oreas. N''' - ''''''' ''S' ''''-
Postoffice shows that the extraordinary number
of nearly four and one-half million letters were
registered during the past year. or about one
letter Tor every ten persons. The record shows
that only one in every five thousand of these
letters has been lost. and of the number that
disappeared a large portion was recovered.
While the late, war lasted the Bahama Islands
were In q fourishing condition but since its
tieali E1 has dsciined. they did animmense
main reliance IS pineappes the the Exports 2% s Of
which to this county to a one
in the trade will be surprised to hear that there
y an almost .prohibiory tariff on the article.
According to the reports to the State Depart
ment there is O chance to extend our trade in O
small way with these islands. and we know that
every little helps. ~ ~
Imports of Dry Goods Mt New York.
The imports of dry goods at New York in De-
tober were 81 1854 800. against $5.327s77 in Octo-
Der, 1876 and s5,79511 IN October 1875, In the
YORK of dry goods were s69,l9l,s74 against
$7oe7o54S in 1876 and ssi In 1sT5 The ne
the similar period in 1878.
Legal Tender Fluctuations of National
Bank Notes.
National bank notes were shown by Stewart
L. Woodford. in his recent address before the
Bankers Convention, to be legal tender in all
payments to the national government except
customs duties, in all payments from the ma
the public debt, and IN all payments between
national banks. The Clearing House of New
York requires the payment of balances between
banks to be made in legal tenders.
Business Prospects.
In estimating the future course of trade there
are Some conditions on which we can rely with
reasonable certainty, and others which are in.
that the great agricultural interest is in fair
state of prosperity; and that for this class OF
population there must be fair demand tor
agriculture. come manufactures and the me-
I chanical and mining industries, which it is
generally admitted present conspicuous excep-
lions to a condition of prosperous activity and
next in numerical standing come the classes
engaged in professional ana personal 1aa services
ton. the purchasing capacity of which depends
upon the prosperity Of productive industries.
Ths n oasses as oow
Engaged in Population.
M "Reminiscences and mechanical and '
mining industries TOT ,421
Professional and personal services 1854. 1893
Trade and transportation ..119l .23s
These figures show at a glance the relative
importance of the chief branches OF production
The agricultural class produced in 1870, &C.
sas &c hH This ess Of Haq as
fore stated, are now in a condition of fully
average prosperity, excepting, in the cotton
must be made on account. of that exception
may be inferred from the fact that OF the total
value Of products Just enumerated the cotton It,
sissippi, South Carolina. Tennessee and Texas
produced only $3.50. Oooo 900; so that estimating
ducts. we may say that eighty-two per cent of it
is in a condition to take the usual quantity OF
goods in exchange for its products.
The relative standing OF the manufacturing
interests is Indicated by the fact that the last
census states the value Of its products at 1856,
100000. These figures. however. 1t should be
iron is reckoned as pig and then as rods and
bars. and again in further shapes of manufac-
ture: or leather. first, and then as boots and
shoes and other leather goods; The manufac-
turing interests have suffered much siuce 1873,
but within the last few years they have recov-
prices are less and profits narrow This is es-
pecially true Of textile goods. In the iron trade
there has not been 50 marked an improvement,
the products of which in 1870 were rs follows:
Iron tpig excluded ....---..--. -s276 900. 600
Railroad cars and repairs. .-.-...... 81 900, 900
Machinery of all kinds. engines and
Total. .S445 600, 200
Each of these branches had been unduIy