The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-01-10
M mercial and Financial Matters.


a me brig Alpha reached this port yesterday
~ Rio dc Janeiro with 1000 Tags of collie Q.
tour vessels cleared yesterday for European
e .sna with cargoes OF cotton aggregating
4 1i14 bales. -.
dhe bark Nuova Emilia md Celestina
JARED yesterday for BayonlAe with 1888
tnsbels OF wheat in bulk.
& j fakine Off the gold premium strengthened
~ New York banks One year ago they
4 "a III legal tenders $35,B10.511. Their x old
~as unavailable as money, owing TO the pre- :
aIum. Last saturday they hail Of gold and
tral tenders SCI, 2st,2oo.
state Consols yesterday opened at 654,
INT up 10 6jM, and closed easy at 64520lG5,
srainst e6neeH on Wednesday. Premium
1onds closed weak at 3lssD3la4, against 81 u
aslk on the previous day. Tho sales at the
9tock Exchange footed up ssl,50o of State
f]onsols and $40, 700 Of Premium Bonds.
Tho Albany Ne,rs says of The hiring Of
hnnds for this year in Southwestern Georgia:
ave understand that tho laborers generally
are pretty well satisfied with their places,
md that few changes will be made. The
wages offered are In keeping with tho times,
and as high as the low price of cotton will
allow" -
The Chicago Railway Age places the num-
hpr of railroads sold under foreclosure In the
United States during 1873 at forty eight.
WITH length Of 1909 miles and nom inal
eapital OF S3i1 ,G3I 200, little leiss than half
Il which was stock Referring tb this exhibit
ne Philadelphia Times suggests that as
this, by tho process Of sale, 10 almost always
~viped OUT entirely. while usually the
banded debt is scaled also, virtually, II not
pomlnally, It may be considered that the
amount written of the nations books, In the
proIlt and loss account OF the year. Includes
Il least si75,oOo,OoO worth Of railroad prop
etty -
Education Ia progressive In the palmetto
Ctske." The whole number of schools, as
shown by the State superintendent OF In
struction, is 2922, an increase Of $50 schools
during the year. In some Of the counties the
Increase ID large. In others there has been a
decrease. The school attendance is: Whites,
n, lis; colored, 90. 12i-total no. 259 as against
whites last year, 46444; colored, III, o52 total,
lO2,3g6. Tho total number Of teachers en-
plOyed Is 3t17 an increase Of 443 There are
sou4 white teachers and 1926 colored teachers.
OF the whole number only 40 are from the
North. The average monthly wages paid to
mAlo teachers Is $12i GO. and to female teach
- 43s 10.
,I.rx,J
occasions q description In the London Times
mat emphasizes, where no emphasis was
needed, the details Of the paralysis that has
iallen upon Great Britain. Industries disor-
ganIsed, credit shaken, failures multiplied,
wages reduced, artisans idle, and even the
elasses heretofore more prosperous than arti-
oAns actually suffering those are someof the
gloomy items which the leading English Jour-
nal finds upon the disastrous balance-seet Of
1878 TO the last day OF the year, moreover,
there was no sign Of better things no cheer
i0l ray OF prosperous expectation illuminated
the coming Of 1879; It could only be added to
the continuing tale OF misfortune that 1t was
to say where its chapters would
end.
The report OF commercial failures IN New
York city for the year just closed show or 10
number, with liabilities amounting TO nearly
~ 000. 900, and assets estimated al about 3d.
100000, or trifle under an average OF 30 per
cent This is, on its face, bad showing
Thenumber OF failures is greater than in any
previous year, the amount Of liabilities is
enormous and the ratio OF assets lis Disgrace
fully small--so small, In fact, that IL involves
: very considerable element OF downright
rasAlity. But 1t must be remembered that
the past year witnessed the expiration Of the
bankrupt law, and that the number
n failures, as well as the amount of reported
losses. was very greatly increased by the
clearing away of rubbish In connection with
that event. The field is now comparatively
free. and 1t ought to be possible to show q
very much better record for 1879. It remains
true, however, that credit IL still too loosely
granted, and that 1t is frequently made in
stead OF wholesome aid, temptation to
dealers In extending their business. With
our currency on :. solid basis, we should learn
70 give an equally solid one to credit, to the
mutual advantage OF lender and borrower,
nollar md btsyar