have made in the same period of time. The exterior commerce of the eity affords an illustration of this progress, and we have compiled the following table of imports and exports of that port, with the receipts from the interior, as given in the New Orleans Price Current during the period mentioned as follows: 1850.... 1851. 1852. IMPORTS AND EXPORTS AND RECEIPTS AT NEW ORLEANS. --Exports.-—— Foreign. Domestic. Total. Imports. Value of produce from interior. Bank loans. 1842.... $976,727 $27,427,422 $28,404,149 $8,033,590 $45,716,045 $48,646,799 407,073 37,698,277 38,105,350 10,760,499 96,897,873 18,602,649 445,950 53,968,013 54,413,963 12,528.460 106,924,083 19,300,108 250,716 48,808,169 49,058,885 12,057,724 108,051,708 21,286,804 523,934 67,768,724 68,292,658 13,630,686 134,233,735 29,320,582 255,265 60,656,587 60,931,852 14,422,154 115,336,798 27,142,907 311,868 55,05,094 55,367,962 12,900,821 117,106,823 27,500,348 288,128 80,576,652 80,865,080 16,682,392 144,256,081 31,200,296 1857. 356,491 91,538,371 91,894,862 24,891,967 158,061,369 23,229,096 1858. 605,771 88,270,224 88,875,993 19,586,033 167,155,546 29,619,278 1859.... 775,303 99,759,649 100,784,952 18,349,516 172,952,664 25,608,485 1853.. 1854. 1855. 1856.. The column of exports from New Orleans gives those to foreign ports only, while the "receipts from the interior" embrace not only the source of those exports, but of the considerable quantities sent coastwise in the course of the domestic trade. The banking loans at that period have maintained a remarkable uniformity in face of the increased business of the port. Those loans do not, however, embrace the exchange transactions, which reach a high figure in the spring and run down again in midsummer, following the course of the crops. In the last year they rose to over $10,000,000 in April, held by the banks, and fell to less than 2,000,000 in September. The result of larger exports of produce from that point, with a uniform amount of bank loans, seems to be an annually increasing import of the precious metals. If we compare the imports of specie with the amount held by the banks then the results are as follows: The influx of specie has been the result of the increasing produce exports flowing from this point, which is the center of immense exchange operations. The panic of 1857, which checked purchases of goods, gave a new impulse to the receipts of specie at that point, and the "gold" has not failed "to flow up the Mississippi." Steam has not failed to extend the connection of New Orleans by water to the growing ports and markets of Central and South America, and by rail, more directly with all the producing sections of the West, greatly extending the area of production, which must find a market at that point. The operation of railroads also tends to alter the current of internal trade with the West, since much produce that formerly went exclusively to New Orleans by the river, now finds a market North by railroads. The cotton used by factories in western New York comes by the way of the Illinois Central Railroad, “across lots," instead of making the circuit by the sea. If this tends to divert from New Orleans some of the trade that formerly de scended to it along the water courses, that loss has been amply compensated by the concentration of South western productions, and it is remarkable that while the receipts of produce at that point are more than quadruple those of 1842, and the bank loans half the amount then outstanding, that there is never a scarcity of capital for the great exchange operations of that center. If the West and Southwest buy their goods in New York and other northen ports, the exchange to pay for those purchases is credited against produce sent to New Orleans, and the operation, particularly in seasons of reaction, seems to turn more on specie. Of the $23,000,000 of silver exported in 1858 from Mexico, over $4,000,000 was received at New Orleans. The low rate of exchange at New Orleans in that year seemed to divert a large amount of silver from the direct route that it usually follows from Mexico to England. The New Orleans Price Current remarks: EXCHANGE. Throughout the past year the market has been generally well supplied with foreign exchange, and there has at no time been so material a variation in either the supply or demand as to cause any very marked elevation or depression in the rates. Indeed, the market has been characterized by a remarkable degree of steadiness, the average rate for clear bills never falling below 74, and never rising above 9 per cent premium, until in July it was 10, and in August 10 per cent. Bill of lading ⚫ bills have, of course, been sold under these figures, and bankers' bills have occasionally brought over 10 per cent, and within the past few weeks as high as 10 per cent premium. The quotations for clear bills were lowest in the month of December, when the average was 74, and highest in August, when it reached 10 per cent. For francs, the average rate for the year may be placed at 5f. 20c. As with sterling, the lowest average rate was in December, being then 5f. 30c., and the highest in July, when, owing to light shipments of cotton, it rose to 5f. 07c. per dollar. Sixty day bills on New York and Boston have fluctuated slightly during the year, according to the demand and supply-the lowest point reached having been in October, when the range was from 2 a 24 for good signatures, and the highest in May and August, when our quotations were a 1 per cent discount. Northern exchange has generally been in good demand through the year, and the supply of it, as well as of foreign bills, has been, of course, commensurate with the large business transactions in our leading staples of cotton, sugar, tobacco, &c., &c. : COMPARATIVE RATES OF EXCHANGE ON LONDON, PARIS, AND NEW YORK-SIXTY DAY BILLS, CLEAR ON LONDON. -1858-9.- -1857-8. -1856-7.- Months. London. Paris. N. Y. London. Paris. N. Y. London. Paris. N. Y. P'r dollar. Dis. The operations of the mint at New Orleans the above period have been as follows: On the first discovery of gold in California the quantity which poured into New Orleans was very large-the channels being then irregular, and the mint at Philadelphia being not only difficult to get at, but inadequate to the work. In the year 1851 over $47,000,000 reached Philadelphia from California. In 1853 nearly $53,000,000 was received there. This gradually fell under the operations of the San Francisco Mint and New York Assay-office to about the same amount in 1858 as at New Orleans. The money market for the past year has been described as follows: The market opened at the beginning of the commercial year with a very healthy tone-the banks holding an unusual large amount of coincapital out doors being abundant, and the prospects for a good business season, taken altogether, being of a flattering character. City mortgage notes were easily negotiated at 8 a 9 per cent, first class long-dated acceptance at 8 a 9, and second class ditto at 10 a 12 per cent per annum. With only slight fluctuations in the out-door market, either in respect to the rates of interest or the demand for the various securities which were offered, business moved along steadily and satisfactorily-the tendency being all the time towards greater ease, until, at the close of the month of March, the rates were reduced to 74 a 8 and 9 per cent for mortgage notes, 7 a 8 for first class long-dated acceptances, and 9 a 10 per cent for second class ditto. Short business paper, of which there was not much offering, owing to the facility of obtaining discounts at the banks, was taken freely at 6 a 7 per cent per annum, as it had been in fact before, during most of the season. Throughout April and up to about the middle of May the market was in a remarkably easy condition. The amount of unemployed means in the hands of capitalists, at all times large during the season, appeared to have rather increased than diminished, whilst at the same time a considerable diminution took place in the quantity of desirable paper offering. Owing to these causes the rates of interest further slightly gave way, and generally ruled for the period mentioned above at 7 a 8 for mortgage notes, 7 a 7 and 84 for first class, and 9 a 9 and 10 per cent for second class long-dated acceptances. These, if not considerably lower rates, would, in all probability, have ruled for the remainder of the season had it not been for the breaking out of the war in Europe; but as soon as it was known that hostilities had actually commenced, a disposition was shown not to enter into new engagements or incur new obligations until an opportunity had been offered of judging of the course of events, and the chances of the war becoming general throughout Europe-a matter involving, of course, the most serious con sequences. The fears of a disturbance of financial and commercial affairs thus engendered, caused the market to tighten up, and the rates of interest to gradually advance, until by the middle of June we had to quote first class mortgage notes at 9 a 10, first class long-dated acceptances at 9 a 10, and second class ditto at 12 a per cent per annum, with prime short business paper at 8 a 8 per cent. For a short time, indeed, it was difficult to negotiate even favorite signatures at better than 10 per cent per annum. During July, however, we noticed a considerable easier market, and our quotations were reduced to 8 a 9 per cent for first class mortgage bonds, 8 a 9 for first class long dated acceptances, and 8 per cent for prime short paper. The rates have further given way in August, especially for prime short paper, of which we have noticed sales at 6 a 7 per cent, and occasionally at a fraction below the inside figure; first class city mortgage notes ranging mostly at 7 a 81, first class long-dated acceptances at 7 a 81, and second class ditto at 10 a 12 per cent per annum. This In relation to the trade of the last year, the same authority remarks :The total value of our products received from the interior, according to our annual valuation table, sums up $172,952,664, against $167,555,546; showing an increase over last year of $5,397,118, and over 1841-42, a period of seventeen years, of $127,236,619, or over 300 per cent. exhibits a very fair rate of progress for our city, but it would doubtless have been materially exceeded, had earlier, more energetic, and more liberal enterprise been directed to the development of the rich and varied resources of our vastly extended interior. Within a few years, however, movements, but too long delayed, have been made to penetrate the interior by railroads, and the leading one, the New Orleans, Jackson, and Great Northern has made such progress, that before the lapse of many months such connections will be made as will put New Orleans in quick communication with nearly all parts of the country north, west, and east of us-a consummation that cannot fail to be highly advantageous to the enterprise itself and to the general trade of our city. In another direction the New Orleans, Opelousas, and Great Western Road is seeking to develop and draw to us the rich resources of our own State and of our sister State, Texas, and we are pleased to notice that arrangements are making for a vigorous onward progress. Another enterprise, in the success of which we conceive our city to be largely interested, is the Tehuantepec Transit Route. Already such progress has been made as to demonstrate the great advantages it will possess over any other route, when properly improved, and we sincerely hope that all obstacles to its prompt completion will be speedily removed. We have, on several previous occasions, adverted to the great and manifest advantages that would accrue to our trade from the establishment of lines of steam propellers between our port and the leading northern cities, New York and Boston, and we are pleased to notice that the matter is awakening such attention as will, we trust, so n attain a practical fruition, and demonstrate the mutual advantage of such communication, to the South and North, and also to the West, which section, when thus assured of speed and punctuality in the transportation of freight, will doubtless contribute largely to the success of the enterprise. According to the Custom-house records the total value of exports to foreign countries of produce and merchandise of the growth and manufacture of the United States, and of foreign merchandise, for the fiscal year ending June 30th, 1859, was $101,634,952, against $88,382,438 last year, showing an increase of $13,252,514. Of the value of exports, coastwise, the Custom-house has kept no record since 1857, but an estimate which we have made from our own tables enables us to state that the amount is about $32,000,000; thus making the total value of our exports, foreign and coastwise, $133,634,952. The value of foreign merchandise and specie imported in the same period was $18,349,516, against $19,586,013 last year, showing a decrease of $1,236,497. There is no record of the value of the numerous cargoes of domestic and foreign merchandise and produce received coastwise, but its amount would count by tens of millions. After alluding to the war of the last year, the Price Current remarks:Our leading staple, cotton, felt most its depressing influence, but, nevertheless, the result of the season's operations in this article, taken in the aggregate, should, we think, be highly satisfactory, at least to the planting interest, for we find by our calculations that although the crop of the year just closed has exceeded the one immediately preceding it in the large amount of upwards of 680,000 bales, yet the average price obtained for it is a fraction in favor of the larger crop, while the aggregate increase in value for the total crop received at the ports exceeds thirty-four millions of dollars. Fortunately for our home interests, however, the intelligence of actual hostilities came at a period of the season when the great bulk of the crop had been disposed of, and there has since been no heavy weight of stock to press prices down below a fair remunerating range. Indeed the season has, considering all the circumstances, maintained a remarkable dedegree of steadiness, as the extreme prices for middling show a difference in the entire season of only 1 cent, the highest quotations being 12 a 12 cents in April, at which point the warlike aspect of European affairs. checked the evident upward tendency, and the lowest being 104 a 11 cents, under a pressure of stock of upwards of 500,000 bales, and when the total receipts at all the ports showed an excess over the previous year of more than 1,000,000 bales. The same figures were again touched in May and June, under advices of actual war. This remarkable steadiness and firmness, under such circumstances, attests very emphatically the mercantile ability and ample resources of our factors; and the planting interest, we conceive, may well be satisfied with the general results of the season's operations. Among the difficulties and perplexities which the factor is called upon to encounter is one which we have repeatedly called attention to in our columns, but thus far with little or no effect, it would seem, for the past season has found it more formidable than ever. We allude to the increased proportion of sandy and dusty cotton sent to market-a description that can hardly ever be disposed of except under the excitement of an indiscriminate speculative demand, and much of which is found wholly unmerchantable, to be got rid of only under the auctioneer's hammer. This evil has attained to such magnitude that it behooves planters to apply some remedy, as the complaints from abroad of the unsaleableness of such descriptions lead to the probability that they will be almost wholly repudiated in the coming season's operations. Those who pack cotton falsely, by introducing sand or trash into the body |