The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-04-24
Commercial and Financial Matters.

Commercial and Financial Matters.
Foreign made sugars have commenced
coming into this port quite freely, consider
ing the early season, several arrivals having
been already announced. Yesterday there
was another importation, thatby the schooner
George s. Marts from Sagua La Grande, OF
$40 hogsheads and IS tierces.
The exports to foreign ports of the produce
of the cotton seed Is greatly on the increase
Yesterday the bark Shon Quilt cleared for
Bristol with 716O sacks OF oil cake; the bark
Chrstiane for Cork, with 5000 sacks of oil
cake. and the bark Jedanest Dubrovacki
for Genoa with 2401 barrels of cotton seed oil
The friends Of the tariff bill have little hope
OF passing it during the present session OF
Congress It Is said the Committee on Ways
and M cans will now concentrate their efforts
on the internal revenue bill, and will probably
pass 1t through the House with the two i'm
portant propositions to rempose On income
tax and reduce the tobacco tax to 16 cents.
The Bank Of France, in order to prepare
for resumption, voluntarily paid out during
1877, 1920, OOO. 600 by which the public were
made to understand that they could get coin
whenever they desired 1t, the consequence Of
which was that there was nothing approach
ing run on the bank when 1t resumed. OF
the specie paid out before resumption all but
800, 900 was returned to the bank.
Previous to 1877 the Western Union TeIe-
graph Company owned and operated 1886
miles of telegraph, and the Atlantic and Paci-
fic Company 1879 miles, making total of
DATA miles; all Of which passed under the
control OF one monopoly when the two com
panies were consolidated. 1t Is in the power
OF the monopoly to charge the public just
such rates as may conduce most to the profits
OF the stockholders, regardless Of the con-
venience or interests of its patrons But the
decision Of the Supreme Court that Congress
has the power to regulate the telegraph, has
been followed by the introduction Of a bill au-
thorizing all the railroads in the United
States to contruct, maintain and operate tele-
graph lines along their routes, make connec-
ton with each other and transmit messages
for the public, as well as for the furtherance
OF their own private business. There were
77,47O miles of railway in operation January
/, 1877, and 1t is safe to say that there were
fully that many miles of telegraph operated
exclusively for railway purposes. The pro-
posed bill would open to competition at least
nineteenth of the telegraph business now
done In the United States.
In the voluminous annual report recently
made by Secretary Evarts of our foreign
commercial relations, we find some interest
ing facts concerning the Brazilian trade. The
report shows that while the United States
purchases nearly one-half of the entire ex-
ports Of Brazil, that country purchases less
than one-thirteenth of its imports from the
United States Great Britain. purchasing
not more than one-half of the amount pur-
chased by the United States, sells to Brazil
more than four times the amount purchased
by us. France, purchasing less than one
fourth Of our purchases, sells more than dou-
BILE the amount Of our sales. The exports to
the United State embrace every ar
ticle Of expectation from Brazil coffee of
course, being the principal article, amount
ing to over $40,000,0 0O-while the imports
from the United States comprise only few
products, viz: flour, $3.50, 600; lard, $74400O;
kerosene, $5OO,OO0; cotton manufactures,
$600,O 900; together with an insignificant list of
5uuuIleS. w ucu III Is Gdkeu luto COuSlueIh-
ton that Brazil imports cotton and other
textile manufactures to the value of S25OOO,-
900 from European countries countries with
which our cotton and other manufactures
have begun to compete successfully, even In
their own markets-it seems highly probable
that we may successfully compete with those
same countries in a market so favorably sit
uated for commercial intercourse with the
United States.
The Springfield (Mass.) Republican, re-
ferring to the fact that in diversity of pro-
duction lies the agricultural salvation of the
South, says the same lesson has been learned
from sad experience by Connecticut Valley
tobacco growers They found IL unsafe
longer to rest upon the one product. In the
South cotton and rice and sugar can no longer,
according to the Republican, be exclusively
depended upon for profitable returns, save In
peculiarly favored spots. In South Carolina
alone the increasing unprotitableness of cot
ton and rice culture has caused since 1860 the
abandonment OF 100000 acres in the coast
counties to weeds and brambles. A new order
OF things Is now beginning to be perceptible
Florida, which before the war produced only
cotton and sugar, will soon furnish to
q large extent the orange supply of
the whole country, and in South Carolina
aid Georgia fla immense business ia early
vegetables and small fruits for the Northern
market has sprung up 1t is said that the
average crop of Strawberries grown on 200
acre patch brings as much money as one-fifth
the value Of all the Sea Island cotton raised
last year. The latest discovery. however,
which the South Carolinians revel in is that
their abandoned coast lands, by compare
lively cheap process, may be made to yield
enormously Of grain and grass This new
salvation for their soil consists Of the native