The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-07-05

THE
OF interest paid by the United States over
the amount returned by transportation OF
malls etc, Is $40, 7691 50. Since the first OF
June the debt bearing per cent has been re-
dueed S4S, 97s,2 $50, and the per cent debt has
been reduced S45,54o,O50. The per cent debt
has been increased 1913, 819,65O. The amount
Of cash In the Treasury ID reduced about ST.
100000.
We learn from the Boston Post that the
cotton spinners strike at Fall River has
caused rather an uncertain feeling In manu-
featuring circles III New England, and fears
are entertained that 1t may lead to labor
troubles In other branches Of industry. Print
cloths are held for higher prices, and 1t Is not
improbable that some OF the mill contracts
for future delivery will have to be cancelled.
The shoemakers In some Of the large manu-
featuring centers, who have thus far been
quiet and working steadily, are beginning to
show signs Of discomfort under the influence
Of this bad example. The market for both
leather and rubber goods Is very firm, owing
to the enhanced cost Of production; but the
movement Is less active than for some weeks
past, as the jobbing trade have already
| placed very large orders for fall work.
/ Secretary Swank. of the American Iron
and Steel Association, has issued his usual
elaborate report of the trade for 1878, and the
figures are certainly encouraging. The pro-
duction Of pig metal asst year was greater
than any year since 1874. This Improvement
Is accounted for by the increasing business Of
foundries and machine shops, and the growth
Of the Bessemer steel industry. The pig iron
produced In 1878 amounted to 2,577, 1861 tons Of
1000 pounds, against 2,3i4,5s5 tons In 1877,
2,095,236 In 1876 and 2,266,581 In 1876. The
average price, however, was lower than ever
before known, number one anthracite foundry
| pig ruling at Philadelphia at SIT 621s average
for the year 1878, against $1S 87,ss In 1877.
| $50 % ia 1874, $42 rs ID 1873 and AZ s71s III
| 1879. IF the rate Of increase In production
during 1878 should be maintained the produc-
| ton for 1879 will reach that of the best year
ever known In the trade, 1878.
| More than 5000 European vessels. indie
III
the cod fishery, and one man has been known
to catch 500 to 600 fish In ten or twelve hours
on the Banks Of Newfoundland, which excel
all others In prodnctlveness. It Is estimated
that the roe Of the female contains from
| 100000 to 100000 eggs, and that he who
eats it eats what. II allowed to arrive at ma
| turity, would equal some 20O,oOo,0OO pounds Of
| food. There are $500 vessels, tonnage 125, 900
| tons, and $4,000 to 10000 men employed in the
cod fishery OF the United States. The fishery
has been carried on for nearly five centuries
without Interruption. and yet there has been
| no diminution Of the supply. which is prodi-
gtons, equal to any apparently possible in
crease OF demand. Almost the whole civilized
globe eats cod nowadays, and nature seems
determined to contribute far more than
enough even should the entire world become
q voracious consumer.
-
The London Economist remarks that the
firm Of Rothschild has for three generations
succeeded In keeping its affairs singularIy
secret, and has been wonderfully exempt
from lawsuits, defauIting agents and spend
thrift partners. 1t is virtually the banker OF
five great governments. The late Baron
guided for thirty years the more important
business Of five or six great financiering
firms, composed Of many individuals, knew
the precise condition Of all En- oean treasur-
les, and selected and eontr scores Of
agents. A remarkable fact a. Jut this great
firm is that 1t has done no mischief, and has
resisted the temptation to form alliances
with particular States or parties. The Baron
was never accused Of waging war with rivals
or making q revolution, or Of entering into
speculations outside of his business, AL
though great capitalists, great loan mongers,
the firm has, moreover, by the tact and moder-
alton displayed by its controlling head, entire |
" overcome the dislike which al but univer-
sally fastens upon such men. The Economist
regards the late Baron as one of the greatest |
men, If not the greatest, OF his kind.
Messrs Fl. a. G. Newman, the well-known I
cotton factors, 81 Perddo street, have kindly
furnished us with the following abstract OF I
their correspondence relating to the present
prospects OF the cotton crop:
Arkansas Reports from our friends and
customers give hattering accounts Of the
growing cotton crop, representing 1t as being
better than ever heretofore, with an increase
OF acreage OF "a per cent. Corn is suffering
from want OF rain
Lonislana--AS general thing our reports
are very favorable about the cotton crop.
Many represent 1t as maturing very rapidly
and should no accident occur, shipments are
predicted even earlier than last year from
nearly al points, except above Delta to the
Arkansas line where 8 large quantity OF rain
fell, causing grass to grow very fast, though
planters seem to have overcome this trouble,
only leaving the crop a few days backward OF
last year. In the hill-codntry corn Is almost
an entire failure, while the bottom lands
promise fair average Weld |
Missfssippi-Along the Jackson Railroad
an increase Of per cent In acreage Is re-
ported, with good accounts Of the cotton
crop. On the "Mississippi'' the outlook is
also very favorable-have no report regard
ing the corn crop from this State.
The Chicago Tribune Of the first instant
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