The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-10-20
Commercial and Financial Matters.
viYVinia,s debt 10 nearly $50 000,O 900, and the
unpaid interest amounts to over "a, 100000.


unpaid interest amounts to over $4,000, 600.
There are two vessels--one 4 steamship--now
-tit,Lwuy Re tha city from tina Passes. from
Rio Jsneiro. bringing about 10000 bags Of coffee
for this market.
The Jackson Railroad brought In yesterday
1858 osles Of cotton. The Mobile road deposited
here 1174 bales. This shows gradual but graft
fying increase Of receipts by rail OF the great
stAple.
The amount Of sugar consumed 10 the United
States last yesr was G3S 800 TONS of which 5e1 1853
tons were imported and only 71,0D0 we're Of
domestic produc ion--nearly eight times ~ much
foreign % domestic.
The great steamboat Natchez was due last
night with $500 bales Of cotton and 1000 sacks
cotton seed. Though little late, cotton com.
msncss 10 pour in Ii the stage OF water In our
rivers was better, our receipts, notwithstanding
the bAckwardness OF the crops, would be much
larger and more satisfactory.
Miss Minnie e. Hodges. who has just resigned
the position Of cashier and m ,ney order clerk in
the Dss Moines, Iowa, post-ofice, handled and
paid out during six years sa,00u,0 900, and never
made mistake OF q cent. At times she had
charge OF the whole Office, with twenty five and
thirty clerks under her direction.
Mighty, indeed, Ia the peanut crop. In the
years 1857 the State OF North Carolina pro-
duced 1851 600 bushels OF peanuts; Virginia 100000
bushels, snd Tennessee 100000 bu heels. The
that in the last four years, within their borders,
$780, 900 bushels OF peanuts were harvested.
II does seem strange that the broad Atlantic is
not wide enough for vessels to pass to and fro on
without collidiDg. Is 1t foolhardiness, ignorance
or gross oriminality that causes the serious and
fatal collisions that nearly every day reported
as occurring ct sea- The Oousett, from Antwerp
70 New York, and the Jessone, from Liverpool
for Melbourne, is the latest casualty Of this kind
reported. 70 tupately no lives were lost, but
the last named vessel was sunk. No one to
blaine, 40 usual.
The Financial outlook.
IN. Y. Tribune, 18th inst1
Business prospects have not materially changed
during tho past week. The bank statement,
which all watch closely, was received with q sort
Of satisfaction on saturday, because, although
there appears o loss OF sl,085 900 in the legal
tender reserve. that loss was not as great as has
been usual at this season, and 1t was partly oov-
cred by increase of $685. 800 in specie reserve.
y had been reported that very large Increase IN
circulation had been made, but the report
showed no material change in the aggregate,
or Ia the circulation OF either Of the banks IL
il understood, however, that application for
several millions OF additional circulation has been
ma 10. which will probably be issued during the
month, and Washington dispatch forsshadowsa
retirement OF about 100000 OF legal tenders
on the 3Ist But the balance in the treasury is
large enough to enable the Secretary, il he is dis
posed, to make the retirement from that balance,
ing legal tenders by purchase, as he inaicated In
his Ohio speech that the law contemplated.
Doubtless, II he pursues the same course this
month, it will be as temporary arrangement, to
be followed by the purchase OF legal tenders Ut
time deemed more favorable. The decrease in
deposits was only 1851, 800. and In loans only
Revenue Frauds in sugar.
The Department of State, so says Washing
ton dispatch, will immediately institute inquiry
into alleged breach Of Off ial trust by Vice Uon-
sul Tengely at Dsmarara. For some time the
government has been receiving complaints from
'ofiiciai sources ct Baltimore that high grade OF
suger, through chemical process was being on.
tered at lower grade, and therefore at o lower
rate of duty, thus defrauding the government Of
large amount OF revenus. inquiry WAS made Of
officer made an official report on the subject to
the Department. and 1t is asotrtained that
through some means . copy Of this report was
received by Baltimore sugar firm whom, ii IL
charged. have been deriving benefit from this lie.
BAL proceeding, In advance OF the Department Of
State, and this appears TO have frustrated the
efforts OF the government to successfully dis
cover the means by which these alleged irregu-
isrities have been carried on. The interest Of
the sugar firms of She United 3 ates evidently
require revision of the existing y.tem of oil
fecting duties upon Imported sugars. BY the
system now in vogue any irregularity on the part
OF importers at one port initiate very seriously
against the business OF innocent firms In other
ports. Besides which the government IL 4 loser
In revenue, the loss amour ing to millions Of
dollars. The revenue from imported sugar at
New York am units to upwards OF $2s, oOo, 900 and
81 Philadelphis s5.0O0.0O0 annually. There Ia o
probability that specific or nd Dalorem duty will be
imposed by Congress at its regular session, thus
aboishing the old Dutch standard system, which
opens the way to such gross frauds.
Grain Freights ON the Mississippi.
The New York Bulletin says of this important
subject: The high rates Of freight on merchan-
disc, particularly grain, on the Mississippi river
have been q drawback which both the new Or
leans and St Louis papers have for long time
past suggested remedies for. Various exor-
bitant charges for handliug and towing have in
. measure, figured conspicuourly in the high
charges, but the fact that there has been no real
change In the class Of craft used stands out very
prominently when the matter is thoroughly look.
cd into. To all accounts the system Of Transport
tation on the Mississippi river is the most extra
VACANT and wasteful that could be devised. This
extravagance, II appears, applies to wages, which
are higher than can DO supported by any
interest struggling for existence. Ii also
applies with additional force to the matter
OF fuel and it's use, in which steamboats, have not
kept pace 10 economy with the other branches OF
the carrying trade 1T would be nice calcula-
tion," says the New Or lsans Tines Ito estimate
the losses entailed upon river steam boat, FIRST
BY the unnecessarily large consumption Of fuel
and second, by the waste OF time and labor con-
sequent upon the frequent landings required in
handngit. The next conspicuous extravaganza
10 In the rapid wear and tesr Of q steamboat,
which, including repairs cannot be estimated at
less than 20 per cent" The Times further says:
taking the condition in which We find the river
interests, as at present administered by those
who have them in charge, the conclusion would
seem almost irresistible that it is in process Of
passing away, to be replaced by more vigorous
and intelligent successor"
The remark in the above article, that ''wagt
are higher than can be supported by any interest
struggling for existence" is erroneous. Captains,
head clerks and pilots receive the ghest wages
and yet there are many of them sober, industri-
frious and competent mon-who have not been
paid over $500 for their services during the last
twelve months of navigation, and Q smaller
amount OF remunera ton was paid in the cases OF
other officers The masters Of Upper Mississippi
river are paid on an average no more than $3.50
per annum.-[River Reporter Republican.
Mississippi.