The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-05

will not exceed 81 100000. Among those VINO
filed netitjons were two clcrgvmen, five ply
sicians, two teachers four constables. and
fwentv-one individuals who boast Of 'no oc-
cupaton.'
The Atlanta Cotton Exchange has been com
PEELED to protest against the poor quality of
bagging used by planters. The Constitution
says: "a set of resolutions introduced and
unanimously passed declared that hereafter
81 per bale would be deducted from the cash
price Of cotton in this inferior bagging: that
a circular be sent to all the planters In this
section. asking that they refrain from using
it. and also circular to merchants who han
die cotton asking that they do not receive this
bagging on the same terms IA that of first
quality. The circulars will be sent ont al
once
The cotton manufacturers of the New Eng
land cities have been boasting great deal
about the export of their cloth to old England
A short statement will shoy how little they
have to brag about The latest data this
country possesses about Engand's exports of
cotton fabrics show that she disposes of $685.
600, 900 per annum to foreign countries and
the highest this country has attained Is
$4,000. 900 per annum England to-day does
not even consider this country competitor
Mt all; regards our American exports of these
goods az an elephant does fly, and hence
docs not concern herself whether we do make
a better article of cloth or not.
The Washington correspondent of the New
York journal Of Commerce says that the
tariff question is virtually settled for the
present session. The unanimous vote Of the
Senate in favor of the concurrent resolution
to adjourn June 10, indicates beyond doubt
that no considerable number of Senators are
inclined seriously to consider any general
tariff legislation at this time. The subse-
Quent vote Of the House 1870 to 1OS refusing
to refer the Senate resolution to the Ways
and Means Committee, was an unmistakable
declaration that there is in that body a fair
majority which will oppose the passage of
the pending tariff bill. This Interpretation
Of the vote is accepted even by nearly all the
supporters of the proposed measure Hence
business men and all others interested can
safely count upon the tariff bill having not
the slightest chance of becoming q law.
"A
cision of the United States Circuit Court,
Judge Dillon presiding. with regard to the
liability 0. tie city of Little Rock for in
debtedness on the issuance of so-called "cty
money several years ago The city issued
this money after the war and paid 1t out at
par She afterward called II in. giving for it
other evidences of Indebtedness, which the
city afterward refused to recognize because
issued for the city money, and the city money
was an illegal issue. The United States Court
held that, even though the city money might
have been illegal, the city. having received
full value for 1t, and then given other evidence
ment. therefore, went in favor of the Mer-
chants National Bank, of Little Rock, for
$3S 200.
Speaking Of the dangerous power of rail
roads, Mr., Simon Sterne in lecture in New
York ON an evening of last week says that
the railway. though not decked with ermine
or crowned with bays as the ancient kings,
yields the power of king through the ex-
ecutive. the legislature and the Judiciary 1t
represents in this country $4,000 Ooo,o 900 of
capital. in England $4,000 100000, in Germany
S1Ooo,ooo, 900, in France 81 200, 10000 1t made
labor more remunerative, equalized prices.
peopled countries, made lands fruitful, opened
the richest Mines and was regarded as SO
benign a concentration of capital that its for
mdable character was lost sight of in the
gratitude for its existence so that when it
came in contact with the governmental in
situations Of our country it broke down the
few fences of power and made itself absolute
sovereign. In 1890 there were but twenty
three miles of railroad in operation In the
United States; In 1910 but 2s1s; In 1850 but
9021; in 1860 there We're 3a635; and in 1876
there were TAO.
curious question has been raised in con
nection with the recent unsuccessful effort of
the mayor and controller to negotiate sale
OF city bonds in New York-that is, whether
when gold was Is per cent in New York loan
at 8 per cent was more favorable than one at
. per cent now, with gold at per cent. FL
nancers have differed on it, and there seems
to be no rule of settling the point. The st.
Louis Times says, in truth and in fact. we
have here the gist Of the great financial prob
lem. The rise in price of one standard of
value and the depreciation of another. with a
paper security Gaining Tor payment in the cur
rency that appreciates in value makes a triple
position in logic that must be relegated to cir
cum stances for solution. And it is the mex
orable logic OF events alone that can compre-
bend the syllogism. By slow processes one
currency has come to be as valuable as the
other, and the market price of money to-day
must be the guide Of the borrower Just the
the same as it was when the other loan was
made sudden change and the necessity of
sudden payments under that change would
be violent; but as events have ordered it,