The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-07-19
Commercial and Financial Matters.

Commercial and Financial Matters.
The bark polstgernan arrived here yester-
day from Rio de Janeiro with cargo OF $500
sacks Of coffee.
The bark Loreto, cleared yesterday for
Rouen, has on board $1,000 bushels Of corn In
bulk.
The deficit In the accounts OF ex-Treasurer
Jones, Of Georgia, has been found TO be $27o-
600.
During the last fiscal year 10000 liquor
dealers were licensed by the United States
government. These gentlemen supplied
their thirsty fellow-cltizens with liquid Slim
ulation Of the alleged value Of s6OO,OOO,O0O.
The Financial Chronicle reports the visible
supply of cotton at total Of 585, 43S bales less
than year ago. The deficiency compared
with 1876 is stated at C67,9O9 bales, and as
compared with 1875, sOS,267 bales.
The number of miles Of railroad opened in
1877 In the United States was 2177 against
2G57 In 1876 and 2752 In 1876 Pennsylvania
and New York lead In the number Of miles
opened OF ordinary gauge, and Ohio, Iowa
and Texas In narrow gauge.
The steamship Teutona cleared yesterday
for Liverpool with Ais bales of cotton do
hogsheads of tobacco, and 1927 bushels of
corn In bulk The cargo of cotton the Teu-
tonia carries out is unusually large for the
season.
During the year 1877 there were 10. 403 fires
In the United States. This would give new
fire, ON an average, about every fifty minutes
and as the average duration Of fires Is fully
an hour. there Is continual conflagration-
some property burning all the time from
years end to years end
The crop prospects throughout Ohio In
diana and Kentucky are of the most encourage
ing nature the yields OF wheat being particu-
larly gratifying. Reports collected prove not
only greater acreage Of wheat In the States
named than in any previous season, but the
average product is larger
In securities yesterday there was only D
moderate movement, and rates were irregu-
lar. State Consols opened at 1873, went up to
1871 lat which figure 100000 were sold and
closed steady at 775s(0781s, against 774@77R
on Wednesday. The sales footed up $47,5OO
at the Exchange and $233,O0O outside Pre-
MUM Bonds were quiet at 33403319, against
3siS039 "a slight improvement In rates.
The Richmond Wing says that the bad crop
of wheat and the low price Of tobacco have
combined to throw a gloom over the people,
and many thought an exciting congressional
campaign impossible but as the time draws
near for making nominations there are signs
Of growing popular interest, and, IL they cam
not have an old.time contest, they may yet
get up something like good imitation.
The st. Louis millers appear to think they
have found the opening they have wanted in
the Brazilian trade and some of them are
making extensive arrangements for pushing
ahead in It, By the time the steamship line
from New Orleans Is started, which will be
within the next twelve months, II Congress
does its duty, st. Louis will have already
got such firm foothold In the South Ameri-
can Empire, thinks the Republican, than 1t
will be an easy matter to expand it's trade to
huge proportions.
At the close of June the banks of New York
held In specie &c. 81, 800. A week later 1t had
increased to $2O,42 1000, and last week it had
run up TO S22,O4S,600, an increase OF nearly
$600000G In three weeks. The government
treasury holds at the present time S206, $4,000
In coin. On the twenty-ninth of June the
stocks of bullionsheld by the leading banks
abroad were: Bank of England, G29, a3s,504 /;
Bank of France, esq, 1854 900; Imperial Bank Of
Germany, G2G 10000; Austrian National
Bank, E13,475OOO; Netherlands Bank, $780,
600; National Bank of Belgium, G3,46O,0O0.
The securities held by some of these estab-
lshments are: Bank Of France, cog, 10000;
Imperial Bank of Germany, G19,957, 900; Aus
trian National Bank, G11 077 GOO; Netherlands
Bank, Gs,972,0OO; National Bank of Belgium,
G10,S75,0 600; Bank of England, E16,2 07,691.
The fundamental meaning Of the word
''money" is stamped or coined metal, and all
other senses in which the word is used relate
to this for their significance And hence all
the denominations in which money Is ex-
pressed relate to coin for their meaning. The
6 of English money was originally pound of
silver. This was divided into 210 pence, or pen
nyweights. The dollar was originally an
ounce of silver The original franc OF France
was coin bearing an impression of the king
on horseback and the device, "Francorem
rex" which gave the name. Whatever muta-
tions of weight value or division these de-
nominations have passed through they
still relate to coins for their meaning. A
paper dollar bill and paper hundred dollar
bill aro of the same size, weight and intrinsic
value, and differ only because one calls for q
hundred times as much coin as the other.
Strike out the idea Of the coin represented
and the dollar is empty Of meaning. The
coin may not exist in fact, but 1t must in idea
and possibility, or dollar means nothing.
Hence coin Is the basis of paper money.
The annual report of the deputy master of