The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-10-22
Commercial and Financial Matters.

The net debt of the six New England States in
round numbers Is S3S,O0o,o0o.
The San Francisco Alta estimates that the
drought has cost California 2O,ooO,0O0
Mr.. George Ellis. the we'll known and popular
proprietor of the news depot, opposite the
posfof1ice has our thanks for late Western aud
Northern papers.
We heard yesterday of planter UP the coast
who last week rolled twenty arpens of cane,
and got yield of only four hogsheads of sugar.
OF course. he has stopped his mill. and will
await Il further maturity OF the cane.
The English subsidies 70 steamship lines last
year amounted to s4.42o,oOo but these were
largely bestowed on the home packet lines to
Ireland. The government has announced its
intention of withdrawing the s215o,0 II year
bestowed on the I, ninsular and Oriental
Steamship Company. The present policy of
the British government Is to abandon tho
steamer subsidy business and 10 each company
paddle its own canoe without being spoon-fed
from the national treasury.
Who pays the whisky tax imposed by the ma
tional government on the manufacture of that
wonderfully eShileratiUg national beverage is
ut present subject Of some discussion. The
West wv which is the great manutacturer Of the
American eau de vie. thus the internal reve-
nue. tax collected In the year 1876 from the States
of Kentucky. Ohio. Indiana and Illinois,. off
whisky was in round numbers $40 600, 900. The
six New England States paid Internal revenue
taxes from all sources S4,o00.oo0 only for the
same year.
If Boss Tweed is to be believed his wealth has
been greatly owe stated. In the course of his
examination on Wednesday he said that in 1871
his real and personal property amounted to
s25oo,ooo. and thai at no time was he ever worth
more than s3.0o0o0o. When he action was com
menced against him, In 1871 bail WAS required
in the. SUN of $1,000 ooo and to secure that he
transferred 81 100000 of his estate to his son
Richard. aud he never agai II came into pos
session OF that property. From many causes
his property shrank immensely in value, and
Al ~.
did not realize 80 per cent He nied that he
had securities in large amounts ut home or
abroad 1t cost him. with his expenses in Cuba
and Spain. 5000 600 to make his escape. i am
not said he, tine owner of any properly or
money OF any kind whatever from which $4,000
could be realized
A Board Of Trade.
-. The proposed establishment of a Board of
Trade in this city has evoked considerable COM
ment and discus sion among our merchants con-
nected with the Western trade. but we have not
ms yet heard of any positive step being taken to
effect its organization. Within the scope of our
n emory and experience, several of these boards,
under one name or another, have been founded
in New Orleans, but they have generally had
change, the latest and most pretending of these
experiments. was inaugurated with much &C at.
The large building at the corner of poydras and
Tchoupitoulas streets was secured. the most
fashionable and costly sample tables were pro-
cured, grand collation. was spread for the de-
location of the members and guests. stirring
ard entll usiaStio speeches were made on the
occaei n, and tho Exchange was gracefully and
launched on the sea Of expert
a ho tSe
wines viands, lunches. etc. to minister to the
gnstatory delights of the members. Being |
by some of our ablest and most ener-
getic merchants. and possessing many admira-
bic features, this institution had longer life |
than any of its predecessors. but IT too has had
to succumb to inexorabe fate and is numbered |
among the things of the past.
The question naturally suggests itself why |
Is 1t that great commercial mart like New Or
ments which the condition of trade in other
large cities absolutely demands2 The truth is
that as long as our levee presents the
produce. where at q glance. the purchaser can
discover the condition of the goods In their
original packages he will, as general rule.
prefer trading there to buying by sample on
100 small scale to demand the establishment
2f such Institutions for public traffic as exist in
titles of the West. It Is a sad and suggestive
ict that we not now do have any of those grand
commercial transactions, which in ante beum
lines we're wont to create a stir in our market
Ind keep our merchants in n pleasurabla state
If activity and excitement. Nor is there. we re-
yret to say that free. frank harm onious, cordial
inter c, mmunication on business matters be-
.ween our commercial men that formerly char
icterized tOem. and without which sales at pub
lie boards cannot become general.
We are glad to learn that the Board of Trade
low in contemplation will not embrace the
eature of sal on Change. but will be organ
zed for the purpose of stated conferences on
matters, the selection of inspectors,
he appointment of committees of arbitration to |
ettle disputed points in trade, and for other
which our space will not admit of cur
ouching upon to-day. We noticed yesterday
me of the u vantages of an institution of this
haracter. merchant in an important town
n illinois sent q largo order to u prominent
20, dras street house; our New Orleans friend
possessed no knowledge respecting the sOlvency |
II his Western correspondent, but did not hest |
ate to fill the order. inasmuch as it was accom-
anied by q certificate of the Board of Trade of
he place of his residence. testifying to his re-
possibility and high commercial standing.
We ardently hope that the projected Board of
'rade in this city will meet with the hearty con-
urronce and substantial support of our mer-
antle friends.