The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-10-26


find IL worth their while 10 import their goods
through that port.
The bonded indebtedness Of Cincinnati ut this
time ia t2s,39sS 5I. The larger part IL for aid in
building the Cincinnati and Southern Railway,
which Is yet far from completion.
We are glad to see that the prospect is good
that Congress will order, either at this or the
regular session OF Congress, the re.opening of
this New Orleans Mint. We would like to see
something Of life and activity about the old build
ing again.
In 1876 the exports OF books from England
amounted TO about &4,4OO,000. or these the
United states received books to the value Of
$4,000, while Canada and other North American
provinces received only to the value OF s34O, 900.
The vnited States sent to England in 1876 books
to the value Of 100000.
The citizens OF Shreveport, and between thst
city and Monroe, are taking action towards the
building OF railroad between those two points,
The road is to be called the Bed River and Mis-
sissippi Railroad. large amount has been sub.
more subscriptions in the parishes through
which the road will run.
The question of the rate of interest that can be
Afforded is again being agtated. 1t is claimed
that the real value Of money which IL losned 10
only to be estimated by the rate of the country's
growth In wealth This is 31s per cent no more,
and II this be taken rs proper criterion, surely
any system OF laws advocating so high rate az 8
Or 10 per cent must result disastr0usly to those
employingit
IL appears that The discrimination against
Spanish vessels in the levying OF the tonnage tax
is due to the neglect of the spanish Minister in
Washington. in not calling on the Treasury De-
partment and notifying it that Spain makes no
discrimination against vessels OF the United
States entering spanish ports. The wrath
aroused In Madrd-and the Oastians seem to
be 10 easily excited as bull In the arena-will
now subside.
The silver commissioners have sifted out
nice state OF the for us They cay this
country owes TO Europe the round sum Of ~, 000,-
100000, the interest on which is 800 10000.
During six years, ending with 1876 the average
silver product of the United States was t26. 00O,-
600. total OF 100000, being good deal less
than enough produced In six years to pay the in
tereet for two years. There liz pretty nearly
enough gold and silver in the world, including
coin, plate aud bars, to pay half the national
debt But, II we had 1t all, where would we get
the other half2
dull and sluggish. vet there is a strong hope and
expectation entertained by our merchants OF an
early and decided Improvement. Money is get.
ting easier There is good promise of an early
rise In Red river and other tributaries, which will
serve to pour In upon us great quantities Of the
feecy staple and make things lively in this re-
gion.
Accounts from the country in regard to the
prospect. That we will have q good crop lie the
general opinion Of Planters but, OF course. this
result is contingent upon the state Ct the westher
for the next few weeks. Give us cold and clear
weather, without frost or freezs and our sugar
planters will be az happy as 60 many big sun
flowers. AZ itis now, the cane, though thrifty
and fourishing in appearance, does not yield the
requisite saccharine matter, and ia not AZ much
matured AZ II should be- at this season. Rolling
generally IL fully Two weeks behindhsnd, rs com.
pared with past years. An early freeze ia now
the bugbear OF our planters.
A New Telegraph Company.
The Indicator revives the story that an opposi-
ton telegraph line to the Western Union is about
to be constructed by combination Of Boston
capitalists, stockholders OF q Union Pacific. and
some prominent railroad men.
steaIage Of seed Cotton.
Great complaint is made in Mississippi of the
etealsge Of seed cotton An exchange states that
the seed cotton robbers drive half dozen wagons
TO the fields and go off with them filed with
spoils. Laws were passed to prevent this rascal
ity. but they proved dead letters. Finally the
planters took the matter in hand and organized
to put stop to 1t. We are informed that reg.
ular watch IL kept on all the seed cotton q ores
and several persons engaged in this illicit
trade have been arrested and convicted. These
convictions have produced terror among the
cotton thieves, and many OF them, it is said,
have given up the business as dangerous Vigil
ant patrol IL, nevertheless, still kept up, and the
believed that, as far as Adams county is CON-
cerned this illegal seed cotton traffic IL effecu.
ally broken up. The Adams county movement
has been go successful that several oth.r Missls
sppi counties propose to initiate it, and are now
organizing protective associations for patrol duty
and for the prosecution and conviction of the cot.
ton thieves.
This nefarious business seems to have been en-
couraged by country stores which offer induce
ments to cotton rogues. A country store is, no
doubt, great convenience in come localities,
but 1t can be converted into tremendous NUS
ance. We have not heard of much seed cotton
stealing Ia Georgia, and trust that it will attain
no formidable proportions in this state.-Augus-
tn Chronicle, Gath inst.
silver and the Public Debt.
The report of the Silver Commission makes
volume OF over 200 pages. The following ia what
the report says about the payment Of the public
debt in gold or silver, and the amount Of produc-
ton OF precious metals:
The world has expe ded q vast amount OF labor
in the production of the precious metals, and has
made great sacrifices in upholdIng the automatic
metallic eystem OF money, and has the right to
insist it shall be consistently Let alone to work
out its own conclusions or that it be abandoned.
The legal right Of the United States to pay its
bonds in gold or silver, at it's option is so clear
that no serious denial of it is made. The claim
that they should be paid only in gold is
There is no dispute about the facts
of the case or the law. A contract mas
been entered into between the government and
its creditors, involving contingencies which may
favor either party, and both parties must abide
the ISSUE whatever it may be. 1t would be be-
meath the dignity Of the government to demand
any advantages which the law and the contract
made under it do not confer. It would be
violation Of justice, and betrayal of the great
interests confided to it's charge to accept any
thing less. The government is an agent and not
principal. 1t is the trustee of the nation, and
must find the charter and guide for the admins
tration of the affairs Entrusted to it in the
law and not in sentimental emotions
The attempt to frighten the government from
exercising it's undoubted right to pay it's bonds
in the cheaper metal, by proclaiming that If it
does go its honor will be furnished and its credit
impaired at home and abroad, is unworthy of
consideration. The punctual fulfilment to the
letter Of all obligations is the surest and best
sunnnrt of the credit of any country Its honnr