New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1877-01-06
TIE COTTON EXCHANGE PRoN0UR0Bs
FOR TIE DEMOCRACY.

IOh AA6 O6AVOhAO4H
A new source of opposition has mani
Tested itself against the lawful administra-
ton of the government. The great monop-
olies and commercial organizations have
pronounced against it. The chiefs of the
Cotton Exchange and of the insurance
companies have assumed the duty Of
providing for the maintenance Of the dual
and duplicate administration of govern
ment It was observed that the Cotton
Exchange had taken an early interest in
the nomination of Mr.. Wilt. His very
moderate views were accepted as con-
sentative utterance in opposition to the
White League party. The conservative
Exchange has accompanied Mr.. Nichols
in his change of programme. 1t now
stands as the indorser of the White
Lacquer and the conservative-of Nc
Emery and Nichols.
This Exchange, with vast capacity for
commercial usefulness, has departed from
the scope of its charter. 1t is based al
most entirely upon the productive labor
of colored Republicans. 1t should have
preserved strict neutrality in this at
tempt to overthrow an administration
which recognizes the rights of these con-
stituent toilers. 1t should not have taken
up the defense of an instruction from
whose success these telling thousands ap-
prehend so much danger. Of the vast
receipts of cotton at this port last year,
the colored Republican laborers have
contributed far the larger part. The very
money which the Cotton Exchange ten
ders to organize the revolutionary govern
ment comes from the sweat of these
poor and terrified people. Is it, we ask,
morally just to employ their own earnings
against their rights?
We even imagine that the cotton re-
ceipts at this port have been affected by
the turbulence of the Democratic party,
and the apprehension that an attempt
will be made by them to capture and ex-
terminate the lawful administration. We
have fancied that the cotton receipts at
this port have fuctuated between an in
crease during the off years, and diminu-
ton during the campaign seasons. Not.
outstanding the uncommonly favorable
season for picking, and the increased
crop in this and other States, the receipts
at this port to yesterday were 600, 1912 to
709, O92, showinga decline of IS, $50 bales,
instead of the increase that might have been
anticipated. The inference may be that
these shipments may be made through
some other port, and that producers feal
to make consignments here so long as the
prospect of armed anarchy is impending
We do not think that the Legislature
should even, were such a thing lawful
avenge itself for this extraordinary inter
vention in party politics by any attemp
to impair the authority of the Exchange
Yet the cost of selling the product of farm
labor is greater in the Southern ports thar
in many other markets of the Union. Thu
value of an agency to fix the price of cot
| ton is of little value where the telegraph
makes the fact public. The advance o
capital for the production of crop is o
little consequence when the planter make
that crop without such aid, and the factor
age charges upon current crop might b,
in great part saved by adopting the sam
economical system of sale here that pre-
walls in regard to other crops elsewhere
II, therefore, the Republican and othe
lsborers should take fancy to adopt tn
Granger idea, and order public ware
houses, inspectors and classifcations, a
is done in corn or wheat, the lahore
might receive more of his hire, and tn
city much larger share of the cottol
trade than if it be trammeled by charge
to some extent unnecessary. Thus will
every respect for the Cotton Exchange, 6,
long as it is confined TO its very efiicien
receipt and record of the cotton crop, w
feel wish that those planters and labor
ers who make the crop should derive a
much of the price paid by the consume
as possible.
As for the singular intervention of tn
insurance interest in the political direc
ton of our State, we consider it an IN
gracious action for the return our peopl
have made upon its represented capital
Louisiana has not hampered these foreigl
associations, as has been done in New
York, Maine and elsewhere, with Stat
supervision. Our citizens have, with tn
most generous confidence, accepted tn
reported responsibility of these numerou
institutions as rated to the extent of thei
publications. We trust this may con
tinue, but if, in memory of what hap
pened to Chicago from. an impruden
trust in tin signs and doctored divi
dends, great fire should befall New On
leans, just regard for the welfare of on
people might require some yeriica
ton here, as elsewhere, Of the inancia
pretensions upon whose accuracy ma
depend so much the welfare of our people