The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-05-06


good practice for business men to pay COM
pound interest, and 1t is still worse for NUM-
cipalities to make the same mistake. II Is
simply putting off the day OF final settlement,
and insuring increased hardships when it
comes"
For some weeks past the stores OF our
tobacco men have displayed beggarly array
Of empty shelves, awaiting the operation OF
the bill reducing the tax on the weed. Yes
terday great change took place, and our
friends In that line We're up to their eyes 10
business, receiving unusually large sup
plies. These supplies Of tobacco were
sent from Danville and Lynchburg. VirglnNa,
on Thursday evening last, as soon IS the new
stamps could be obtained, and arrived mere
early yesterday morning in remarkably
short time. there being great competltion pe-
tween the railroad lines. 1t Is claimed that
the freight brought by the Crescent fast
Freight Line" Messrs Brockett u Carter,
agents. came to this city an hour ~ advance
of all other lines. A very large proportion
of the tobacco receipts we're shipped 20 the
country on orders sent here weeks ago.
~ Louis il ambitious to be considered
great cotton mart, and with this idea the
representative Of her Exchange has made
application to the executive committee Of the
National Cotton Exchange to hold Its next
annual convention In that city. Mr.. John
Phelps, the president, In reply to this applt-
cation states 80 says the Republican,, that
four of six Exchanges throughout the country
have EXPIRE ssed their willingness to accede to
the proposition Of the st. Louis people. The
New York representative on the committee
wishes to have the convention meet at the
White Sulphur Springs, Virginia, because he
fears that the kindness Of the people Of
cities may interfere with close attention to
business" This ID certainly novel reason
for holding the meeting In the country. Cot
ton men In these parts are not quite so inn
questionable and liable to be drawn away
from business affairs by hospttable treat
ment as this representative Of Gotham seems
to apprehend. They have their times for
business and pleasure and attend to both
thoroughly and with unvarying assiduity. The
fact H. st. Louis will no doubt be selected, the
opposition of the New York committeeman
to the contrary Notwithstanding, az the place
at which the annual meeting Of the National
Conyentlon will Be held. President Phelps
recommends the last of July or the first Of
August as the proper time for the holding OF
the same.
The Grocer says source OF much ankle
ty to foreign producers Is the rapidity with
which America Is gradually crowding out the
other nations of the world in the non-pro-
ducing markets. America has found 1t pos
sibIe to produce nearly all staples which are
to be found anywhere In the civilized world,
and this has brought the balance OF trade
largely In its favor. Until recently the most
of our chemicals were obtained from Europe,
but now number OF our chemicals are large
ly manufactured here, and, in many cases,
from native crude materials. Millions Of
money are by this means kept In this coun-
try, and large numbers OF men given employ
ment. Six years ago cream Of tartar was I'M
ported from France to the extent OF
100000 pounds yearly, but. 80 success
fully has the manufacture OF 1t In this
country been carried on that last year not
a single pound was imported. Notwithstand-
ing that the crude materials have at present
to be imported, the price OF the manufactured
article has been reduced from 80 cents per
20 and "a cents per pound for the American
production. France and England formerly
sent us annually 100000 pounds OF tartartic
acid, while the importation for the last fiscal
year was 1888 pounds. England formerly mo
nopoized our market for citric acid to the ex-
tent of 100000 pounds annually and at the rate
OF ST 80 per pound, while the last year 1913
pounds were imported and sold at the same
price as the American article, 81 cents per
pound. At present the lime juice from I'm
imported, but it could easily be. pro.
duced from fruits grown IN Florida, II
only sufficient energy were put into the work.
II the lemon and lime growers OF the South
can be induced to prepare the lime juice, the
entire production and manufacture of cttric
acid will be kept in this country, saving hum