The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-04-19

Yesterday for Liverpool, has 1870 bushels Of
corn In bulk, In addition to other articles OF
cargo. -
The Cotton Exchange will he closed to-day
and to-morrow, and there will be no cotton
reports from Liverpool until Tuesday and
from New York until Monday next,
The New York Evening Post declares that
In New York the general trade Of the present
season has been the worst known to the
memory Of the oldest business men.
test suit, involving the responsibility Of
the Pennsylvania Railroad Company for mer-
cliandise destroyed during last years riots,
Is now on trial In the Federal court in Phila-
delpbia large number of cases similar in
principle depend upon the decision,
Specie payments were practically resumed
In the pork market Of Chicago on the six
teenth instant A buyer was willing 10 pay
q named price in gold, but refused to pay 2isc
VI barrel more In currency, though that 2lsc
was less than aloe Oh each dollar Of the price
named.
Some of the syndicate bankers IN New York
are said to be arranging to q call on the
Treasury for new national bank circulation,
sufficient to reduce the amount of outstapd-
Ing greenbacks to the legal minimum of three
hundred millions. The bank paper thus OBJ
tanned could be retained, circulated, or can
celled at the pleasure Of the bankers. The
plan Ia designed TO assist In removing diff
entities supposed to be In the way of resunp
ton.
Notwithstanding the stereotype declaration
Of Eastern papers, that money is plenty and
rheap In the Eastern Cities the latest quota
tions at Philadelphia are "5l1sn6H per cent
for gIlt-edged two named paper; 6,9on7H per
cent for undoubted single name obligations,
md higher rates on mixed securities" This
does not look much like superabundapce Of
money for the transaction OF business In a
State where per cent Is the rate of interest
fixed by law, and where, in ordinary times, 6
per cent is above the rate considered permits
sible In legitimate business.
There was a "bear" influence at work yes
terday in the market for State consols. and
they fell to 7s4 0b7e1. from 77tsta777s the day
previous. This decline was ascribed by some
10 the belief that the Supreme Court will re-
verse the decision Of Judge Rogers In the
.
foundation there can possibly be for such an
opinion or belief Is a question that is beyond
our understanding. Premium bonds suffered
a very slight decline, being quoted at 34l90
S4s4, against 345s@947s.
The mint authorities are described by the
Bulletin, Of San Francisco. as securing around
considerably for fine silver on which to start
,,,tct ~, ,yroin IN A If 60 ODO
ounces, sold by the Selby Smelling Works for
export, was afterward bought by the mint at
7per cent discount, equal to 54a4 pence per
ounce, English standard. The London price
on the same day was 54l4 pence, with lower
tendency. The mint also bought at the same
price the Grand Prize bullion, amounting to
about lac, 600 ounces. When the dies for coin
ing the new dollars arrive. the superintendent
OF the mint will have about 900 ounces on
hand. The policy Of the mint appears to be
10 get It's silver anywhere except from the
Nevada mines, even II 1t has to pay more FOR
it, A banker in the East India trade was con
suited as to the feasibility of importing Sycee
silver from China for the government, but IL
was found that the silver would cost too much
To illustrate the extent OF our steamboat
trade with Red river, and the Importance Of
improving the navigation Of that stream. we
will give a few additional facts in relation
thereto. There are at the present time even
ut this dull season of the year, three boats
per week leaving New Orleans for Red river,
with cargoes averaging 450 tons to each boat.
During the cotton season just closing the de-
partures hence were five to nine boats per
week. For the Ouachita river there are now
three departures per week, taking about
1000 tons Of freight. The Opelousas and
Atchafalaya lines send three boats per week,
averaging $50 tons Of freight each. BY this
showing we find that 1850 tons OF freight are
shipped from New Orleans to Red river every
week, 1000 to the Ouachita and $50 to the Ope-
lousas and Atcbafalaya, making total OF
$3.50 tons per week
All this has to pass through the mouth OF
Red river, which, we have good reason to be-
lieve, In very short time will fill up to such
an extent as to prevent the passage Of boats
unless the general government appropriates a
sufficient amount Of money to keep the chan
mel open II should be borne in mind that
this Is now the only route by which our mcr-
chants can send forward their goods to those
sections Of the country. Should the mouth of
Red river be blocked up and made impassa-
ble the whole OF this valuable trade would be