The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-09-19

Waeat In 5ulk+ 5000 bushels OF bulk corn, 1000
sacks of wheat and $50 sacks of rye.
There was not much activity yesterday In So
eurities. State Consols opened ut 73A and closed
Arm at 73as@735S, against 73h@74 on Tuesday.
Premium Bonds closed steady at 3l7t@s1h.
against s1@a1h on the previous day.
Reports have been received that indications
for business from Richmond to Augusta and
Savannah for the autumn are very encourage
ing Crops in Virginia and the Caroinas and
Georgia are good and the people cheerfully an
ticipate the revival of business.
The execution of the Treasury order in rela-
tion to the exchange of silver dollars for green
bucks has been temporarily postponed. Stress
has been laid upon the point that the issue of
silver dollars In payment for currency liabili-
ties before January will be In conflict with re-
cent legislation, and the Secretary deems 1t
prudent to wait until the bearing of certain acts
il ascertained by the Treasury lawyers
We have already given an abstract of the cot
ton report for the year ending on September /,
1878. made up by the New York Commercial and
Financial Chronicle That journal gives as the
total number OF bales 4,811 1885, Mr.. Hester. the
Secretary Of the New Orleans Exchange has
Just completed his statement. by which he
makes the total cotton crop for the past year
4.773,s65 bnles-37. 400 bales short of the Chroni-
cle's report Of the crop.
The successive steps taken by Secretary Sher-
man In carrying out the replacement of silver
dollars In the circulation do not seem to excite
any commotion among the holders abroad Of
United States securities. The importation OF
bonds has dwindled to an amount that is not
sufficient to pay rates. The largest transaction
reported this week has been one of 100000 be.
tween German banking firm and q New York
national bank.
The Western towns that have been out
stripped by Chicago are making merry, as
usual over its bankruptcies. For several days
before the bankrupt law ceased to be operative,
the registers fee, amounted to s15 900 day.
the fee for each petitioner being $50 On the last
day he received $4,000. which represented 400
bankruuts. st. Louis. as may be imagined, re-
ioices over this. saying she Is beaten by four TO
one, and that the Chicagoan who Is still solvent
must feel magniflcently solitary.
Not one Of the Western States is growing as
Kansas is. census taken early in 1855 showed
a population of but 1901 In 1860 of 1o7 206: and
In 1866, of only 14o179 Since then 1t has had
growth more rapid than any State of the Union
Thus, in 1870. its population was 1885, the rate
of increase from 1860 to 1870 although largely
made from 1866 to 1870, was three times the rate
of increase in Oregon, Iowa or Wisconsin; five
times that of California, Missouri or Illinois.
and seven times that of Florida or Texas. The
census of 1876 put the population Of Kansas at
b33.372. and at present It Is universally estim-
ated to be at least 65oo0O. The increase has
thus been nearly 10000 year since the first
census was taken In 1856.
Though the fever still continues It's ravages
many of our most astute merchants indulge In
sanguine hopes of an early resuscitation of
business. The stocks of goods, provisions, etc.
throughout the fever belt" are unprecedented
IL small, and so soon rs the fever abates and
the quarantine restrictions are removed there
will be rush to furnish this denuded portion
of the country with the requisite supplies.
Some Of the towns on the river have already re-
moved the quarantine. and the others are ex-
pected to follow suit In q very short time, when
our coast trade. q large and important factor In
the general commerce Of New Orleans. will re-
vive and become active and buoyant again. It
is reassuring to observe silver lining. how
ever faint to the cloud of trouble and disaster
which now overEangs our unfortunate portion
of the country.
A locomotive capable of drawing 100 loaded
cars will leave Philadelphia for Australia o.
tober 4. Heretofore English manufacturers
tive trade in the colonies of Great Britain. But
at the Centennial Exhibition one of the Austria
liam commissioners was deeply impressed with
the merits of American locomotives, and
through his agency permission was obtained
for Philadelphia firm to send an engine to
that country. with the promise that it would be
allowed to run over the railroads on Its own
merits. The government, which In that coun-
try has control of the roads. was astonished at
the result Of trial trip, purchased the engine
sat once, and gave an order for another Of the
same kind and two heavy ones for freight pur-
poses. The three will all go to Australia Octo-
Der /. and one OF the freight engines is believed
to be the largest engine ever built. It weighs.
exclusive of tender, 102 600 pounds, and has
i drawn 16o empty cars, making train one mile
long, and is warranted to draw from ninety to
1 100 freight cars when loaded.
! Washington dispatch shows the trouble
I being made In the circulation by the trade
dollar:
The Treasury Department. in its different
bureaus, particularly In the mint bureau. is
probably now receiving more letters in regard
to the trade dollar than on any other matter re-
garding the currency. In many small towns
local banks have become extremely unpopular
owing to their conduct. A letter was recently
Washington, Ill, saying that the bank there had
flooded the country, with the trade dollar. pay
luE IL Oub Ht par. hnu refused TO take Lnem eX-
cept at twelve cents discount It is curious
fact in connection with this subject that the
number of trade dollars is extremely small
out of the $3.50 900 of the national bank
currency and legal slender notes is issued In 81
and 90 notes. During the last year not more
than 100000 trade dollars have been mixed
with the ones and two with which nearly all the
retail business of the country Is carried on.
This makes about one dollar In seventeen. but
SO rapidly and inexo ably does poor currency
expel good that this seventeenth dollar is
turning up everywhere. In all. about IS 100000
trade dollars have been coined. The returns
Bank of Nevada, the only large holder has
$5oooo and this leaves the amount afoat only
$s0ooooo-a mere flea-bite If any one was will
ing to take them. There are about three times
as many trade dollars, which are not legal ten
der. abroad in the land as OF standard dollars,
!. which are legal tender.
FINANCIAL AND COMMERCIAL.
Il