The New Orleans daily Democrat., 1878-09-12


Consolidated Virginia and California mines was
SSoa,595 in gold and s26o945 in silver. The ex-
cess OF gold in the product ought not to escape
the attention Of the economists. who declared
that the silver dollar was remOnetizad through
the influence of the Bonanza mine owners.
THE AMAZON AND AMERICAN TRADE-The
survey Of the River Amazon and Its tributaries,
which Is now being prosecuted by Commander
Selfridge-so well known through his surveys
for ship canal across the Isthmus Of Tehuan-
tepec-has been undertaken at the right time,
and annot fail to prove of advantage to us in our
commercial intercourse with Brazil The con-
struction Of the Madeira and Mamore Railroad,
FOR which Brazil has given the contract to the
Messrs. Collins. of Philadelphia. will be fur
ther aid to the extension of our trade. not only
with Brazil. but with Bolivia also. Heretofore
the navigation of the upper waters of the ANA
zon, and especially of its chief tributaries has
been rendered difficult from the want of trust
worthy charts, as we'll as of proper buoys and
lighthouses, while adventurous traders we're
further harassed and put under restrictions by
the shipping laws of Brazil. These things, it is
hoped and believed, will now be remedied, and
that by the adoption of more enlightened
policy the great navigable waters of that en-
Dire will be thrown open to American COM
nerce under conditions that will give us fair
proportion Of that trade which is now largely
monopoli2ed by European merchants
The New York Public. in its review of bank
elearances, Of the seventh, says:
The aggregate business Of the country. "a ran
resented in our reports of payments through the
tWenty-tbree clearing houses during August
was not satisfactory. Thu exchanges showthat
transactions We're smaller than in the August OF
any preceding year since 1878, excepting the
year 1851 hen the lowwater mark was reached
Thtff n0r no haA oil n
in prices since that date, which We have esti-
mated as about per cent, III 1867. and about Is
Der cent in 1877-S. so that payment of about
SSl.00O 900 now represents as large quantity of
products transferred, on the average as pay
nent OF s10o 100000 represented in 1875. In this
Eesnect, as We have repeatedly pointed out, the
business OF the country has been steadily en-
iareIng since 1876, Doubtless more goods and
products are bouu HI and sold at this time than
IN the corresponding season of any wear since
the panic But the volume of business as ex-
pressed IN values, still remains smaller than
any year since The panic except 1876 though the
decline in exchanges has been less than the
fall in prices. 1t is not Strange. however. that
business was unusHa ly depressed last month
Two imp"rtant causes combine to produce that
result, viz: Extreme uncertainty as to the effect
OF the repeal Of the bankrupt act upon verg
many firms stlIl engaged in business and the
prevalence Of pestience in southern cities Ia
view Of the avalanche Of bankruptcies last
conservative merchants has been without rea-
son Although this is The season of least activ-
ity in business at the South, the erribe scouree
;severat southern cities has doubtless materially
diminished exchanges. not only within those
cities, but between those and other commercial
centers. Under all he circumstances the fact
that transactions have been little reduced is
evidence that the business Of the country is. on
the Whole, more vigorous and healthy than
some are dl posed to believe. The following
table shows the aggregate exchanges through
the clearing-bouses in August, 1878 and 1877:
1878. 1877. Per CT
Total -.--- 81 937 .27I, ,457 s. 1928 7s9 937 SIS
Outside New York 62S.o99 S74 649 307, ,S97 40