484 



LOUISIANA. 



than empty cars, sent to carry back the sugar, 

 molasses, and rice of the Southwest. 



The annual settlement of the United States 

 Mint at New Orleans for the fiscal year ending 

 June 30, 1882, showed that the varied and deli- 

 cate operations of that establishment had been 

 skillfully conducted. The bullion operated on 

 amounted to nearly $18,000,000, with a wast- 

 age of less than $3,000, being far within the 

 limit allowed by law. The coin and bullion in 

 the immediate possession of the Superintend- 

 ent on the day of settlement amounted to 



$5,047,585. The coinage for the fiscal year 

 was, gold, $101,700, and standard silver dol- 

 lars, $4,958,000. The coinage at the mint is 

 far less than the demand for distribution, so 

 that frequent transfers of silver by the Assist- 

 ant Treasurer have to be made to meet the de- 

 mand when the crops begin to move and the 

 active business season commences. 



The following is a statement of receipts and 

 disbursements by the Assistant Treasurer of the 

 United States at New Orleans, during the fiscal 

 years ending June 30, 1880, 1881, and 1882 : 



EECEIPTS. 



DISBUKSEMENTS. 



The domestic exports from the port of New 

 Orleans to foreign countries, during the fiscal 

 year 1881-'82, amounted to $68,190,431, a 

 falling off of $35,196,019 as compared with 

 the preceding year. The imports of foreign 

 products and manufactures at New Orleans for 

 the same period amounted to $11,993,852, a 

 falling off of $419,418 as compared with the 

 year before. The ocean tonnage shows a de- 

 cline corresponding to the reduced amount of 

 the exports and imports. This year 897 ves- 

 sels, with a tonnage of 998,079, entered, and 

 953 vessels, tonnage 1,038,859, cleared; and 

 last year 1,255 vessels, tonnage 1,422,726, en- 

 tered, and 1,257 vessels, tonnage 1,402,496, 

 cleared. 



The commercial year, which closed August 

 31st, was far from prosperous. There was a 

 large decrease in the leading lines of trade. 

 The season was unfavorable for agriculture, 

 especially in the staple crops cotton and 

 sugar. Good prices, however, were main- 

 tained, and, despite the many drawbacks, the 

 number of commercial failures was not large. 

 Local finances improved greatly. State and 

 city securities appreciated. The banks did a 

 profitable business and are in a sound condi- 

 tion, and more money h,is been invested in 

 improvements than in any year since the close 

 of the war. The tendency to invest in manu- 

 factures is marked. The completion of the 

 two ^ through trunk lines west of the Missis- 

 sippi, and the active prosecution of the work 

 on two lines east of the river, indicate confi- 



dence in the future prosperity of the State. 

 The Southern Pacific is doing a large business, 

 and the New Orleans Pacific is bringing large 

 additions to trade with Northern Texas. 



THE TULANE DONATIONS. During the win- 

 ter of last year it was announced that Mr. 

 Paul Tulane, of Princeton N. J., but for many 

 years a citizen of New Orleans, had conveyed 

 a large estate to trustees to be used for the 

 education of the white youth of the city of 

 New Orleans. There was some delay in per- 

 fecting the arrangements, but now the deeds 

 have been recorded, and the charter incorpo- 

 rating the trustees duly issued. The gift em- 

 braces all the real estate owned by Mr. Tulane 

 in the city of New Orleans, worth at assessors' 

 valuation $288,700, yielding an annual income 

 of $38,000. In his letter to the trustees he de- 

 clares the purpose of the donation to be 



For the promotion and encouragement of intel- 

 lectual, moral, and industrial education among the 

 white young persons in the city of New Orleans, State 

 of Louisiana, and for the advancement of learning and 

 letters, the arts and sciences therein, my intention 

 being that the benefits shall be applied and expended 

 in the city of New Orleans. 



By the term education, I mean to foster such a 

 course of intellectual development as shall be useful 

 and of solid worth, and not be merely ornamental or 

 superficial. 1 mean you should adopt the course 

 which, as wise and good men, would commend itself 

 to you, as being conducive to immediate practical 

 benefit, rather than theoretical possible advantage. I 

 wish you to establish or foster institutions of a higher 

 grade of learning, where the young persons to be bene- 

 fited shall, upon due examination, be found compe- 

 tent and qualified for admission, both by age and pre- 



