The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-09-01
OMMERCIAL.
OFFICE NEW ORLEANS DEMOCRAT,

| September |. 1877.
In a retrospect of the Commercial and Finan.
cial Movement at the close of the Commercial
Year it is generally found that the markets
have been controlled by the paramount law o
supply and demand. When these are equal,
balanced. prices are steady; when the supply
il deficient, prices naturally rise: and when II
is redundant, they as naturally fall. The appar.
ent exception to this general rule is when
spectators intervene. and. monopolizing Ger.
tain commodities. lock up portion of the
actual stock, and hold the rest for an advance
But in this case the exception Ia only apparent
| and not real While the visible and the invisi.
bic supply together are sufficient for the de-
mand, or perhaps excessive, the invisible sup
| ply is held off the market, and the offerings
| being confined to the visibly supply. the press
| ure of the demand upon the latter results in an
| advance which is maintained until holders are
compelled from financial or other considera-
! tions to unload; the market then breaks and
| the decline is often az rapid as the advance was
sudden.
At times. however. outside causes disturb the
general relations of trade and Interfere with
the operations of the law we have asserted.
Such WI the case in the New Orleans market
during the administration and corruption
of the State government which preceded that
which is now firmly established. The election
that took place in November. under the time
honored flag of the Democratic party. could
hardly be strictly called a partisan conflict. In
the struggle for an honest government men who
had differed widely from the Democracy had
no other contest with their former antagonists
than in the rivalry who should be the most
earnest and efficient in the popular cause The
nominations at the Democratic Conservative
Convention were made in harmony with this
spirit In the subsequent canvass all classes of
our fellow-citizens united in the support Of the
convention nominations. If any deserved the
distinction of being more earnest in this polit-
ical struggle than others. it was our CONNER
cial friends. Not only did they supply the
sinews OF war. SO essential to counteract the
tactics of their antagonists, but on the day of
the election closed their stores and counting
rooms and the entire mercantile body-em-
ployer and employe. standing shoulder to
shoulder a the polls-devoted the day to the re-
demption Of the State from misrule and cor
ruption.
In describing the scenes of the election a
commercial writer. who had been a voter for
nearly half century. said from his personal OBJ
servafions that as many as two hundred voters
could be seen In a line at the polls, patiently
awaiting their turn; calm but resolute submit
ting TO an annoying delay without murmer
and apparently Indifferent to personal incon-
venience. Not only the merchant and his clerk
with dignity and composure thus approached
the ballot box. but the white man and the negro
as we'll, the determination being general That
the principles enunciated by Gov. Nichols in
his acceptance of the conventions nomination.
should be strictly maintained as a solemn COM
pact and not as mere glittering generates. 1t
was proud day for Louisiana, for she had rea-
son to be proud of her sons; to be proud of
their earnest patriotism; to be proud of their
self-saerifoing devotion to the common welfare:
to be proud Of their intelligent appreciation Of
the situation.
Justice. patriotism and intelligence tri-
umphed. 1t was the triumph over extortion,
self1shness and ignorance. The cunning devices
of INSCRIPTIONS partisanship and the strong
hand of official power, nevertheless, combined
to deprive them of the fruits of their victory.
What followed is historical. The government
elected by the people was inaugurated on the
sth of January in presence of the greatest mass
meeting ever held in New Orleans-not only i'm
posing by its multitudinous numbers, but COM
handing respect by their intelligence and
worth. The spirit that inspired every member
Of this great concourse was Of deeper moment