The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-10-02
NEW ORLEANS, WEDNESDAY, OCTOBER g. 1873
and all considered. You have done 1t in spite

| |. Yellow fever epidemics, averaging on
| every nine years.
O. Four years OF the most distracting, de
vastating war ever known to the annals @
| civilization, raging In your midst raYagin,
your surroundings and scattering your fabri
of trade to the four winds:
| 8. The destruction at one sWOop OF you
most valuable and most productive species o
property; and
| 1. Ten years of the most diabolical misgoy
ernment ever devised by triple conspirac,
OF rapacity, malignity and Ignorance to de
| StrOy an honest people,
| Take out the four years of war and the ter
| years of carpet-baggery and niggerism, anc
| you have fourteen years out OF twenty -eigh
left, in which to try conclusions between YOU
force OF enterprise and the check Of pestii
ence
| IN THE LIGHT OF THESE FACTS AND FIGURES
[ do not see what any stranger" who has
established business in New Orleans" has tx
complain Of
Undoubtedly your real estate will not sci
for as much as it would have commanded al
some previous period. But there, as you
may discoverupon reference to back files con
tanning the records Of your correspondents
rambles in New York you are not alone In
your misfortune. Taking New York and New
Orleans at what may be regarded as the sea-
son OF greatest prosperity to .each. that
and go. and New York in 1seS-72-
condition will be found to have kept up rela-
lively better than that of New York. As to
the future, OF course, every CONN unity has
its fight to make and it's endeavors to put
forth. But the statistics Of the handling and
carrying trade do not augur as well for New
York as they do for you to-day, relatively to
the capital employed and the volume Of in
terest involved.
Now, let us see about London.
LONDON IS THE CLIMAX OF HUMAN INGE-
NUITY
in the construction Of an artificial fabric OF
society. It is an aggregation OF 100000 peo-
pie upon about 400 square miles of territory.
The basis Of this vast artificial community Is
o complex mechanism Of political power
known as the British empire, the least shock
to which is as an earthquake to the city OF
London. Take away the political supremacy
OF England In India and In twenty years
London would not have two millions Of peo-
pie. In hundred years you might be walt
ing momentarily for Macaulay's New Zea-
lander with his sketch-book and Faber No. l..
AS an instructive exemplifcation of the old
saying that charity begins at home I include
the following, cut from the same issue of the
Times that contained the extract above:
''THE TRADE AND NAVIGATION RETURNS
for the month of August, issued on Saturday,
still fail to indicate that the much wished-9or
revival of trade has set in. The best and most
assuring sign Of such revival would be a
hardening in prices for staples of export, but
that is nowhere visible. COMPARED with
the corresponding month of 1877 the gross
imports show falling off In value Of nearly
per cent aud the exports OF nearly 2l
per cent, but these reductions do not indi-
cate very fully what the real position of the
trade account is. On the import side thereduc-
ton may be regarded with satisfaction since
it for the most part means reduced imports of
articles of food; but the fall in the export
values is still almost exclusively a. fall In
values For example, we lind that Whilo cot
ton piece-goods have only sunk ~ per cent in
quantity, the fall in value has been per cent.
Iron and steel is less in quantity by barely / -
per cent, but has fallen in value nearly 5I
per cent. So with jute and linen yarns, seed
oils, refined sugar and WoOlen cloths and
yarn. Coal and coke have been exported in
greater quantity by fully per cent notwith-
standing which Increase the gross value is
less by about 5 is Der cent. Copper is also
in an unsatisfactory and dragging con-
dition as to prices, although the quantity
is on the increase. These and
such like disagreeabe facts make it evident
the country is still protitless, If not losing,
trade. The markets abroad are reluctant
markets, and business has to be forced
Goods are manufactured and sent abroad in
I've of the demand for them, and the
result is continually falling prices, trade
distress and heavy losses. There is only
one satisfactory point in the tables which we
Rppend-the prices of raw materials no longer
show tendency to go against the manufac-
turer. A little while ago it looked as If cotton
was to become dear in the face of a depressed
export trade, and wool, as we'll as several
other important articles Of raw produce,
seemed also on the point of becoming dearer.
But that tendency Is now checked, and with
The fall in the cost ofgraW materials our man
lfacturers may be able to work back to a
sounder position. They will be helped in
this. as will the whole country, by cheaper
Dread.
''For the eight months of the year which
have now elapsed the total value of the i'm
ports is g255, 1886, 600, a decrease Of about
e0.0O0O00 on last year. and the fotal value of
Jhe exports e128, ,365000 or q decrease of
e2, 100000. The decrease in the exports is a
IRE still higher ia value by some millions |
han for the first eight months OF 1876 If we |
allow for a re-export OF foreign produce to |
5he amount of about E35, 100000, and an |
export balance OF bullion of about |
e2,ooo,ooo, the nominal adverse balance
600, ,o00, 900. Whatever forces are at work
% neutralize this balance, it must still be q |
source Of some anxiety; and, In fact the long |
continuance of this state Of things no doubt |
accounts for the extent to which we are at
present trading on foreign capital. The large |
Irnount of English bills held abroad is one re- |
ult Of the prolonged depression Of our export |
rade, and the steady export Of United States |
OCdAIblSS w 4NcW 1Olh LII HSuJ Dl gOblS |
s another. Neither can be looked upor, as |
satisfactory, and the loss of the interest on
he bonds Is In particular a direct and per-
nanent impoverfshment Of a very serious
lind"
| observe from this that while England has |
10 yellow fever, she still has plenty Of |
roubles. The argument of the extract just |
quoted is that something slower indeed, but |
infinitely
doRE SURELY FATAL THAN YELLOW FEVER
n any other fever Is sapping the foundations
# England's prosperity and gnawiing at the
entres of her life It may not be decay, per-
,aps, but 1t is that relaxation of powers over
strained and that collapse of faculties too
lard-worked which always precedes more or
ess closely the decay of nation as of an in
lividual. Some time ago Mr.. Crawshay, the
,reat Welsh ironmaster, closing mills and
mines that gave employment and livelihood
o 0000 men, women and children, was asked
when he would open them again.
Never" said he.
"But what Is to become Of all this costly
,lant?"
Ruin" said he.
"And what of the peOple?'