The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-11-21

ILL Lut oulbcA oLthGSSy W 10 iOlIOWCu ny 1t
moved prosperity in Great Britain. So far a
this country is concerned. the indications ar
that the Times is about correct in it
prophecy.
State Consos wore steady yesterday OF 7G9
OFT, the same az on the previous day
Premium Bonds ruled quiet at 291a0D293f
the same as Oh Wednesday. The sales at tn
Exchange were $4,000 Premium Bonds
$4,000 of which were sold at 2914. The sale
OF State Consols footed up only $4,000 at TIL
The railroad disturbance at Cincinnati ha!
been too short for the comfort and conve
nience OF the travelling public though muol
too long for the good of the contesting com
panies' revenues. The rate of passage to New
York, which was only one dollar for several
days, took a rise to four or five dollars on
Saturday last and q conference of the mana
gers was expected to settle the questions at
issue and restore the old prices early in the
week.
An Ohio grand jury has indicted the cashier
and directors of national bank for embezzlng
@ large sum of money and securities belonging
to the company and depositors. The case is
singular enough In the West to attract special
attention, and, il it should be pushed to the
conviction Of the thevng gang, will be likely
to create a sensation in banking circles. Dis
honesty Of this kind has passed for 80 many
years practically without reproach or punish
ment, that financial rascals are inclined to be-
lieve there Is no law to reach them.
The New York Journal Of Commerce. after
publishing the statistics of the foreign COM
merce of that port, says: ''We receive two
thirds of all the foreign merchandise imports
of the country at this port and ship little
over 45 per cent of the merchandise exports
hence, SO that the above will present q fair
basis for estimating the entire trade of the
country during the last ten months. If we
add the specie, New York's portion of the
foreign trade this year as shown by the last |
government returns Is about 70 per cent of |
the imports and nearly SO per cent Of the ex-
ports. Making comparison on the basis of
the last returns will give the foreign COM
merce Of the country for ten months at, say,
$600,o00,o0o exports, against only $685., 100000
imports, showing an excess OF exports of about
1898, 100000. This is O. balance of trade that
may well excite attention both at home and
abroad"
The st. Louis Republican, of Monday last,
by rail Of 100 barrels of alcohol for foreign
export, which Is notable as the first shipment
for Europe from St. Louis "by way of the Jet
ties" although it is confidently expected that
a regular movement of this product will here.
after be made from that port, as 1t can be
done from 10l1Ic cheaper per gallon than r
from the Atlantic seaboard. The Republican !
says >
The sale rnnHa hyyM |
Stage Il Co, for the st. Louis Distilling Com T
pany. There are large manufacturing and 7
other business interests alive in ST. Louis to I
cheaper outlet for The products Of the (
great valley, and in time the East \
will discern, what 1t now fears-a total n
alteration of the course Of the products of the
West to the natural outlet by the river and G
the gulf. II the great valley of the Mssis- E
ssippi knew ITSELF and recognized the advan- B
tage OF the river. and the wide ocean into Is
verse lines of railroad as timdly as now it Il
can be reasonably apprehended how the to
transverse railway transit to the wealthy Fl
capital OF the East should have super ba
the Mississippi, but already the vision of the
commercial interests Of this great interior of 10
the continent is clear from the obfuscation of
prejudice, and new e., enterprises for the indie n.
pendence OF the West from the East are on =,
foot and making most satisfactory progress NJ
The Washington Star, of Saturday last, Or
publishes what may be considered q sort of Y
5emi-oficial declaration of the relations of the f
United States Treasury to the Clearing &c
House Associations of New York and Bos- s. s.
ION, and their recent action looking to re- Va
The statement considers it to be
that the action of the banks should Re
lot be confused with the actions and inten- +
ions Of the Treasury ~
= M
Ihe Assistant Treasurer in New York will OK
onform, Of course. to the new rules of the III
clearing House in regard to drafts checks La
nd balances but he Is not at all connected ~
With the action Of the Clearing House in O(
eference to the silver dollar. That associa-
ion has announced that it will only receive II
liver dollars on special deposit, but the Star Rr
avs that this characterization by banks of a Ha
egal tender Of the United States finds no 50 80
avor with the Treasury Department" and it &c
dds that "they have been premature at BE BE
east in taking the whole matter into their T
wn hands They seem to make no allow s
nee whatever for any action the President Ta|f
he Secretary Of the Treasury OF Congress Co1
hay take" Tho Star further says of the &C F Fa1
ion of the banks: Pri
Before taking the matter into their own Str
ands and saying that legal tender shall not Tei
. a legal tender because it might, il the AZ ~.
mount OF silver coined each month is not linz ar
ed, in time become only of value as so much ono
ullion, they should have considered that NJ
teps may be taken by the government to tive sf
void such an evil. They take no considera- Don
on whatever OF the probability that the Sec Fai
stary Of the Treasury and the President Pri
law recommend to Congress that the coin Stri
ye IF The silver do]lar Re limited to an az Cho
mt which would leave no danger of its de- @
reciating, or that its weight be increased so and
lat Its bullion value will be a dollar instead
as now, ohly aoolG eiR Gets IL IS pril
Do supposlng an lmpfoDaDlllty thaC, with q Goo
ear exposition Of the danger, Congress will Fail
Ike action to obviate the danger Of the new Ord
,llar's virtual demOnetiZationrDv the neces- Ext
rv laryic1atior