The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-03-27
Con- nersial and Financial Matters.
me steamship Frankfurt cleared yesterday
or Bremen with 70. 200 bushels Of corn In bulk.

The steamer Ny Choice. with barges. will
arrive this evening or on tomorrow with 40. 900
bushels Of corn In bulk.
Australia exports about $24o 600 600 a year. and
imports nearly AZ much. and almost this entire
trade liz carried on with England and her de-
tendencies. ..m..
dispatch was received here yesterday AZ
nouncing the fact that the Hon. Mr.. Foster tne
United States minister to Mexico, will leave hls
port by the next steamer for Vera cruz
Sixty thousand com merciai travellers are en-
ployed by the Wholesale merchants Oh INC
United States, at an average annual expease u
5000 at least, making the aggregate tRe ehor-
nous sum Of $3.50 .oeoeoo
Tho a. Tou;s Republican remarks. tielt whom
st. Louis -four Ia shipped to Brazil. via New
York and Liver pool, there is evidently q screw
looaa somewhere in the machinery OF COM
nerce The longest way around is sometimes
the shortest way across, but 1t is ma1. not ma
ture who has made 1t the shortest. best and
cheapest in this case. What mar has done.
however man can undo. and we ought to 90
ahout the undoing with as little delay as pos
sible.
Mr.. q. q. Coffin has arrived here from Wash
ington on mission OF no little Importance.
He comes here, under the auspices OF commit
tee 81 one of the houses OF the United States
Congress- to examine into and report upon our
Industrial system in general. and more espe-
cially upon the ACCESSIBILITY OF the renewal by
the government OF cert ain patents and exclusive
privileges issued nv the same some years ago.
MIR. Coffin Ia represented to us as being very
respectable and fair minded man. and we can
not but express the hope and belief that he will
net irapartially and honorably in the matters
brought under his consideration.
Yesterday was Geld day In Premium Bonds.
At one time this class Of securities touched as
low ~ SAX. against seA the closing quotation
on the previous day. Tho bonds. how
ever. rallied. and closed at 35h@3b1s
The declension in the price OF these bonds
was ascrihsble to the decision OF Judge Monroe.
Of the Third District Court. in the case OF the
Southern Bank vs.. the city Of New
Orleans. which will be found in
another column. The sales of premiums to-day
footed up s544,se0-an unusually large amount:
while State Consols exhibited more strength,
the sales amounting to $4,000. Mt 7sh@7s's.
against 77AD77A the day previous.
In Consolidated Bonds there was a marked
advance. These securities on Monday were
sold at 38H@ssX yesterday they reached 421s.
The New York Chronicle Is not addicted to
prophesying, but In epitomizing the CONNER
cial situation last week 1t ventured to assert
that the conditions of trade and the tone in
business circles improve surely and steadily,
though not In any marked degree and added
that It fs the almost universal opinion that the
worst has been passed. and that all the staple
products OF agriculture with. perhaps. single
exception). have declined as low as they will
probably 20 under the most adverse circum-
stances which the future Is likely to develop.
Business matters seem to be in a position indie
pendent Of European political contingencies.
and manufacturers. dealers and shippers think
they see an end to the continuous losses they
have incurred. m"M...
A bill has been introduced in the Senate Of
California making a pilots commission run
during good behavior. instead of requiring re-
newals from year to year. as at present. AS the
regulations now exist there. pilots have to 60
before the Board OF Commissioners every year
for, q renewal OF their commissions and to
bring influence to accomplish their object. Men
holding their positions by this precarious ten
ure are always subject to political and other
assessments. This is conceived to be wrong.
Remarks the San Francisco Call: 1T takes ten
years Of seaman's life to acquire the local
knowledge which most of our present pilots
possess, and men whose fitness has been tested
in so difficult and responsible branch Of SER
vice should not be made dependent on the Whim
Of the Board of Commissioners
The returns from the clearing houses Of
twenty-three cities of the country have been
compiled by the New York Public for the month
of February: of these all but two reported last
year. and the amount of the clearing for TWEEN
Nv nit Ia af
against s. 4ss os4 800 Ia February. 1877. showing
falling or Of SAT 64s245. We find that of this
enormous falling Off in the business of the
banks. the larger part. or 1911 oil o43. Is in New
York city alone, and a large part of it
is doubtless attributable to the decline in
stock and gold speculation. The decline of
$76.6aslT2 in other cities is only about 10 per
cent, which is about equivalent to the average
decline In prices of merchandise, 80 that it
does not necessarily indicate any actual falling
off In the volume of general business. Six Of
the cities report gains and fourteen OF them de-
elines in their clearing. The largest houses
other than New York were in Philadelphia.
Boston and Chicago. The gains were consider
able in New Orleans and San Francisco; other
gains were small. better showing will prob
ably be made In the month of March. for if We
are to have any spring trade it should begin this
month.
The Fort Worth Standard has an editorial on
that very important practical subject. the wheat
crop of Texas, from which the following state
ments are extracted. Taking as its text the
statement Of another paper. that. although the
area sown the present season is 10 or Is per
cent larger than last year, it is not enough by
all Of 80 or 40 per cent to supply the State. The
Standard remarks:
The central and northwestern sections of
Texas are the only portions which export wheat
and flour. All the timbsr land sections of the
State consume much more than is produced.
The same is true If the prairies of Southern
Texas. while the western portion, devoted to
raising cattle and sheep, looks to the wheat belt
for flour We will for some wears have a home