The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-03-09

left for Dunkirk with $4,000 bushels OF corn
IN bulk.
The first foreign loan ever offered III the
New York market Is about being brought
out II consists of loan Of $3,0O0000 8 per
cent gold bonds, issued by the province OF
Quebec (which includes the city of Montreal
The bonds were competed for by English ana
American houses, ana were secured by n syn
dictate which includes the Bank Of Montreal
Kuhn. Loeb Il Co and Winslow, banier 90,
which took them for tho New York market
The New York Bulletin says: The United
States have paid off many millions OF their
debt to Europe within the last few years, but
that the New York market should De selected
as the place to borrow money for ono OF tho
British colonies Is SO novel that the expert
ment will be watched with interest. 1t indi-
Gates great change in affairs In the last few
years, that any city or part Of the United
States should be sought as the lender OF
money TO the world, where formerly the whole
country had been supplant borrowers"
The last monthly report of the Washington
Bureau Of Statistics shows that our exports
are still largely In excess of our Imports, but
indicates that change IL taking place In the
direction OF q natural state Of the foreign
trade. The excess of exports last January
was S25, S7G SGi against an excess of S33 539, 800
during January, 1878. The decrease OF nearly
81, 900 in the excess last January as COM
pared with January last year indicates, while
II does not absolutely prove, that the course
OF our foreign trade is undergoing change
which will result in an equalization of the ex-
ports and imports or IN excess OF the latter.
During the seven months ending January 81
the excess of exports over imports was $780,
5G5 357, against an excess of Sl35 500 52S during
the seven months ending January 81, 1878.
During the later period of seven months the
excess OF exports WAS nearly $40,000,000
greater than during the earlier corresponding
period. During the twelve months ending
January 81 the excess Of exports was 1927 $780,
O63, against an excess Of SAG, ISL ,274 for the
twelve months ending January 81, 1878. Tho
excess for the later period was about $751;
100000 greater than the excess for the earlier
period. These figures show n progressive
tendency toward u less excess of exports.
Wes We yesterday the official report OF the
National Cotton Exchange Of the general
movement of cotton to the seaboard and
mills for the six months ending with Febru-
airy, inclusive. The exhibit made In this re-
port having caused q good deal OF surprise
and comment in certain quarters, We think
It but right and proper to give Mr.. Secretary
Hester's preliminary and explanatory re-
marks:
A comparison with previous statements
shows that the aggregate movement by rail
routes to Northern and Eastern sections out
side of the cotton belt Is the largest on record
for any similar period. We have no figures to
refer to for any fraction Of a year prior to the
adoption OF the system Of monthly statements
OF the National Cotton Exchange out facts
deduced from yearly figures OF other author-
ties show clearly the correctness OF this state
ment The comparisons since 1876 are as fol
lows:
TOTAL SHIPMENT OVERLAND FROM PRODUCERS 10
MILLS AND DELIVERY PORTS # IL SIX MONTHS,
ENDING FGBAuARY. INCLUSIVE:
1S75-6...... .49b4SJ All 9n7
1867. ass 1889 .bs6 E54
During the same periods the shipments to
the mills direct were Us follows:
1875 ...2n5 ~ 1877 III o22
1875 7..-.. .....2277 s7 1878 81. tl6
The movement to the mills for the six
months ending February %, 1878, shows an
excess over same time last season OF no 1914
bales, or a further gain on the excess in the
statement published last month September
to January inclusivel of 45, 225 bales.
In other words, there was billed through to
the mills by the various overland routes
during the four weeks Of February, 1879,
6i.225 bales, against $4,000 Tor same time in
1873.
At first glance so large movement follow
ing upon the heels of the liberal shipments
OF the live months previous would seem sur
prlslng, but reference to the weekly state
ments telepraped to the Exchanges from st.
Louis and Cincinnati alone during February,
coupled with the large amount in transit
overland to the ports, and stock ut Cncin-
natl at the close OF January taken in connec-
ton with the fact that no corresponding
increase was shown in receipts at Eastern de-
livery ports, indicated that some outlet for
these large amounts other than the ports had
been found.
AT the close of January the amount in
transit overland was. ............ haIas "a All
The aggregate overland shipment during
February by ali routes, less dednc
tions, including inlqnd shipments
from Southern outpoIs, etc. 42l2
palesl 100, sos
Or say total Of ....................... 153n,7
OF this there were shipped to mills
from st. Louis II, 1913. Cairo 9lt6
Evansville 1926 via Hannibal
Mo- Att (all through Denson,
Texas, Louisville 2l25i. Gin