The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-11-16
Commercial and Financial Matters.

4aso bales Of cotton and 5000 slaves. This Is |
large cargo, in these times, for sailing vessel
There is no use of blinking" the fact that |
business here MS elsewhere, is lamentably dull |
and unsatisfactory. Those Of our friends who |
have been on the lookout for the millennium |
must compose their minds to calmness and re-
frain from indulging In too sanguine expecta-
tons. The good time" will undoubtedly come
some of these days, but we must wait for 1t
with Christian resignation.
The question Of coming down to the mimi
mum of the small coin. now In use in the
Northern and Eastern States. has recently been
seriously brought before the minds Of the
Southern people. From time immemorial the
half-d dime, or nickel has been the lowest de-
nomination known to our people In trade But
now a great many think that we should accom-
modate our monetary ideas to the exigencies OF
the times. and we think they are about right.
The use of the cent piece would no doubt in a
very short time prove to be convenient and
popular. The question is, how can this great
change in the use Of small currency be brought
about 1t strikes us that the banks can by
sensible concert Of action accomplish this end
without any great violence to popular preju-
dice. If they should give and require exact
change on notes or drafts presented on them.
they would necessarily thereby put in circula-
ton vast number of one cent and three cent
pieces.
II no Individual bank would like to take the
Initiative in this matter the Clearing House
could do 80. The subject Is we'll worthy Of the
consideration Of our bank magnates.
A Coffee Trouble.
Some years ago there was serious sectional
trouble between the North and South. all about
'cuffy," though at the outset 1t was not admit
ted by either side that the negro was the cause
OF the difficulty. Recently we have observed in
dications Of another sectional war-this time
between the. East and West-whichs though 1t
may not involve the use OF powder or the ex-
pendture of blood. may prove to be very Sc
rious matter. Coffee, not cuffy. Is now the bone
of contention, and we of the South can calmly
and philosophically look on and regard the
progress of the war of the sections on this
momentous question. 1t seems that few days
ago the coffee jobbers In New York met together
solemn conclave and adopted series Of
resolutions which have proved to be exceeding
disagreeable to their constituents in Western
cities.
For some years past 1t has been the
custom of Gothamites. engaged in the coffee
trade. acting as third parties and agents, to de-
liver orders and receive goods for their princi-
pals in the West These agents bought the cot.
fee in store, resacked and shipped 1t, and have
generally realized nice little profits from
this mode of manipulating the fragrant berry.
At this the jobbers became jealous and angry,
and on the 3lst sof last month met together in
solemn conclave and passed q resolution to the
effect that thenceforth they would never deliver
coffee to middlemen. but would ship their Or
ders direct. giving as reason for such action
that it was running an unnecessary rick to de-
ix,ar tn
duced a great commotion in some of the
large centres of trade in the West
Pittsburg and Cincinnati, especially, became
greatly excited; meetings were held In those
cities and resolutions adopted to the effect that
= II their New York brethren did not inconti-
nently back down from their position, they
would withdraw their entire western coffee trade
from New York and transfer it to New Orleans
We have posted ourselves on this subject as far
as wycan, but as it is not our fight, and being
of an exceedingly peaceable nature, we forbear
to enter the lists at this time. But we cannot re-
frain from expressing the hope that New Or
leans will reap the fruits of the war. as we will
demonstrate hereafter she deserves to do. For
the further elucidation Of this matter we pub
lish the following article from the St. Louis
Times:
The New York and Baltimore coffee dealers
are rifed. They have stirred up a state Of
affairs that is about to lose them their Western
gaa T and ney hGy
with, very probably. those of the Northwest
viii be glad Of it. For many years the coffee
trade Of the country has been almost exclusively
controlled BY the dealers Of New York and Bal
timore. while jobbers and retailers have been
eoages out Of Which, they have ~ reaped great
benefit has been the practice Of double sacking
packages charging lobbers for the outside sacks
allowed as tare- weight, thus receiving pay for
the sack and weighing 1t to the purchaser at
g prize bs Of Mantle 1ee Of eorge f. er
this swindle. and commenced middle business
At such low rates that he has alarmed the New
York wholesalers to the extent OF causing them
to hold meeting on the sst n Of 0etobee per At
Of November "all sales Of coffee for. shipment
from New York and Baltimore y shall be
atend do to I This IS break
up the business of Glover. Upon the receipt
the circular this arbitrary rue
aroused. and meeting was held in Cincinnati
on Wednesday at which it was resolved that
Gasfsrn deaes the e pDe H Coffee trade
shall be withdrawn from New York and Balti-
and f New New 9F aa 0
expressed themselves as determined to crush
out the growing evil which they call the ne
wg we he ema
sponsible for the loss or delay" but which
grievance is in reality the cutting down
Of their profits in the matter of sacks; 1t Is
hoped that the Cincinnati coffee men will carry
out their determination to resist the oppressive
rules of the Eastern monopolists, and 1t may be
well to call the attention Of st. Louis dealers to
the propriety Of cooperating in the movement
In order that all may be posted as far as pos
sble, in the facts of the case. we gave the names
Of the Eastern firms who have combined in this
Arnold & Co. Edwards & Maddux, D. j. Ely 8
Co, Rowland & Humphry. Ezra Wheeler Co.
Bowie, Dash & Co., John O'Donohues Sons
Booth & Linsly, Mayer. Bros. & Co., Dymond
Gardes, Pupke & Reid Hard a. Rand, Sheldon
Banks d Co., and Barr, Laly u Co.
FINANCIAL AND COMMERCIAL
MONETARY