The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-12-25

Gates a gain in the carrying trade in competition
with our own routes of transportation.
A prominent and enterprisng commercial
house of this city has recently written TO flve Oh
the steamship companies in New York trading
with Southern ports. with reference to the es-
adjustment Of regular communication, by
steam with Havana. From one OF these lines
conditionally favorable answer was received.
The Cromwell line will permit their ships to
touch at that port providing certain amount
of freight will be guaranteed to them, At the
present time this cannot. with certainty. be
done; but we think that this company would do
well to take some risks in making this diversion
from their regular route to New York, There
are many exporters in this city who would give
its ships the preference over all others. owing
to the regularity and certainty Of their depar-
ture. providing the rates are placed at reasona
bly, low figures.
This trade with Havana was formerly OF great
importance to our city. The lines of steam
ships which ran regularly before the war be-
tween New Orleans and New York invariably
carried q large number of passengers to Ha-
vana, in addition to cargoes Of flour. meal.
lard. butter and other commodities suitable to
the requirements of that market Now. these
supplies are furnished by New York. Philade-
phia and Baltimore. Our merchants must make
an effort to regain this trade. and we are glad
to learn that steps have been made looking to
this much desired contamination. Apart from
the commodities required by that market there
are hundreds of passengers from the West
who yearly visit Cuba. from considerations of
health or pleasure. who would gladly avail
themselves of any facilities which can be
afforded them. Give us regular communion
ton with Havana. and trade will surely follow.
The st. Louis banks are evidently weakening
on the subject of buying exchange from country
banks in the cotton region. Heretofore they
have been loud and boastful of their readiness
to afford accommodations of every kind to
those who would send cotton to their great mar
ket and we of New Orleans have been made to
tremble at the prospect of the Future City
usurping the place that the Crescent City has
for SO many years held as the great cotton mart
of America. Butwe have gotten over our scare
and now regard the position Of affairs in this
respect with calm composure and philosophical
euuanimity. In this connection we take the
following from the financial article of St.
Louis paper of the 10th inst. which needs no
comment for 1t will be readily understood by
the commercial reader:
Under the circumstances some of the banks
are rather 10th than otherwi Use to buy exchange
from country banks which do not do a regular
business with them. This feeling is beginning
to manifest itself with noticeabe strength in re-
Texas, Louisiana and Tennessee. which have
been drawing SO heavily on this city for funds
during the last two weeks. A few of the bank
officials look upon the practice of buying the
exchange of banks in these regions as a direct
blow at the. cotton trade Of this city. believing
leans and Galveston now would come here if
the st. Louis banks did not furnish the cur
rency with which it is handled to the country
banks IF by reason Of their shipments Of cur
rency to these country banhs our own banks
should at any time find themselves so short OF
the cotton men IN this city, they would Of course
be the occasion of direct discrimination
against their own city and trade Acting in
this spirit some of the banks hold their dis
count rates stiffy at the extreme of the current
rate In all Purchases of country exchange
growing out of cotton shipments.