The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-03-17
Commercial and Financial Matters.
The steamship South Tyne. from Liverpool.
arrived here yesterday with II ,104 sacks OF salt.
Three vessels cleared yesterday for European
ports with cargoes amounting In the aggregate
to I4479 bales of cotton.

Three vessels cleared yesterday for European
ports with cargoes amounting In the aggregate
to ~ 40 bales Of cotton.
A sensible suggestion tending toward the
abolition Of the diplomatic establishment has
been made by Mr.. Hewitt. In the United States
House Of Representatives, He proposes that
only two embassies shall be maintained In
Europe: one In London. as the commercial
centre. and one In Berlin, rs the centre OF polit-
ical power. At the other capital. instead OF full
legations he would leave only secretaries. SUBJ
ject to the orders of the nearest minister. MIR.
Hewitt asserted that out OF twenty important
treaties between the United States and Euro
pean nations all but one have been negotiated
by special ministers; and he contended that the
persons now representing this country on the
other side Of the Atlantic would be found utterly
unfit for diplomatic service In any emergency.
That business in New Orleans at this time is
very much contracted owing 70 the want of con-
fdence; the great prerequisite to all CONNER
cial operations, Is painfully observable by every
man who visits the marts of trade. 1t is true
that during the past fortnight we have had seven
failures In this city; but it gives us pleasure
to state that In not one Of these cases have
we heard the slightest intimation Of bad faith
or disreputable conduct. In view Of the nu-
merous mercantile disasters In other cities. we
think that this fact is a feather in our cap.
While on this subject we deem it apropos to
advise. In the most delicate manner magma
BILE. our commercial friends. to keep a
stiff upper lip on the part of the unfortu-
nate parties. and not to give credence
to the foolish and unsubstantial reports con-
corning the stability Of this or that house. now
being circulated by "rumor's lying tongue"
throughout the city. That New Orleans should
escape the effects of the depression Of trade and
shrinkage Of values which have carried down
some OF the most noted business establishment
at the North, East and West no one
OF sense or judgment believes. and we have this
fact to glory In and brag on. that not one of the
great commercial centres Of this country has
had fewer failures. or possesses collection of
merchants financially stronger and more re-
putable than those who are now endeavoring to
exc out subsistence In this city. They are put
ting into practical operation the qualities of
economy and prudence; they have not attempt
ed to extend their influence or trade. and. con-
seauently. are safe and sound, as q general
thing. and we believe that our friends have
gone through the thickest of their troubles, and
that the dawn of brighter and more suspicious
day is plainly observable.
Chicago Is another waking giantess' The
Tribune eye was wide enough open on Monday
to observe these facts:
The Eads jetties are 50 much of success
that two or three steamers per day can now
clear from New Orleans laden with corn below
and cotton above: and St Louis Ia now success
fully striving to gather and forward down the
Mississippi the grain which these vessels are
prepared to carry to Europe She Is now draw
Ing from Kansas and Southern Iowa large
quantities Of corn. the growers Of which used
to send their grain here while cut rates enable
st. Louis and Southern Illinois to ship by rail
to The seaboard at lower rates than it can be
forwarded via Chicago during the winter.