The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-09-13
THE NEW ORLEANS DEMOCRAT THURSDAY SEPTEMBER 49,

remedy to afford7 Some propose an
unlimited initiation of the currency, and
others monetization Of silver, but they
all overlook the true cause. which itself
suggests the only remedy.
There has never been o greater pie
thora Of money in this country than
there Ia at this very time. The Ameri-
can people have within the last few
months subscribed $70000,O0O to the
new per cent loan, and money on call
now commands as low as II per cent
But the trouble is that there Ii no conf
dence. Upon this point Mr.. Moore
says, and very truthfully:
But why does trust company d bank. or d
CAPITALIST invest money. at per cent In an
lending ht any promised high rate Of interest
to n wooden manufacturer Or on iron founder?
Simply hncnuse the capitalist hn WIS by the OK
pafience OF the last four years that the wooen
products and Iron products rest upon q rotten
system that the trade Is rotten. and that his
Investment is not safe.
We see but one correction for these
troubles. Free markets will insure the
disposal Of our surplus products. This,
and this alone, can restore confidence
by restoring trade. Trade 10 merely o.
barter after all, and we can expect to
export our various fabrics, whose manu-
faeture employs our people. in ex-
change for those of other countries.
The example given by Mr.. Moore Of
the Venezuela trade 10 conclusive on
this subject. and we reproduce It, not
withstanding Its great length, because
of It's peculiar value at this particular
time:
In 1870 we had trade with the. republic Of
Venezuela which was as follows We imported
from that republic products valued at 81 ,dB7 49,
and we exported to that republic products valued
st " .1W a33. n fact. our whole import and ex-
port trade with Venezuela amounted In 1870 to
sl,355i45, Now i must be borne IN mind that
Venezuela has but two great articles Of export
namely, eofree and hides--both of which. up
to is7o-73 paid duty In the United States But
ad ss Ts ee fae tho aaa IN a s2
increase of our trade with that republic in Inn
per,s and exports, shows wonderful result
ez,,ela products valued at s5.s75 .7i5 or nearly
three times more than In 1910. and we exported
TO that republic in 1876 goods valued at 81. 424.-
g7s. rs against 81 .BoT .s35. an increase Of more
than 2GD per centum as compared with 1870. III
fact TO show this wonderful increase of trade ut
q 4lanee, | will reiterate that our. WHOLE trade,
was % 345 i45 and In 1876 1t was 80 400 800. But
u n tempted TO ask two questions First. what
was the nature Of the increase Of our imports7
and SECOND. what WINS the nature of the In
crease of our exports? Well in 1870 when coffee
and hides paid duty IN the United States, We
imported 81 2ss.4Ts worth Of eoi1es, and s4a6 44p
worth Of hides while IN 1876 when coffee and
hides were free we imported "a ISL TAG worth Of
two articles show an increase of over $40 per
centum. But the next answer. rs to the nature
of the increase of our exports to Venezuela. Is
as interesting MS indeed IT will prove conclusive
Here Is a table which gives The value Of a1ti-
cles exported to Venezuela in 1870 and 1876, re-
euartiyeiy.