Page:Early western travels, 1748-1846 (1907 Volume 8).djvu/345

 The city of New-Orleans is a place of immense business. In the course of fifty years it will probably be, in a mercantile point of view, second to none in the world. At this place inland and maritime commerce combine their energies. An immense tract of the most productive country in the world, is continually sending its produce, through a thousand channels, to this great mart. Already five or six hundred vessels, some of which are very large, may occasionally be seen lying at the Levee; and upon this embankment are vast piles of produce of every description. Foreign vessels frequently arrive here with from 500,000 to 1,000,000 dollars in specie, for the purpose of purchasing cargoes of sugar, cotton, and tobacco. Perhaps in no place is specie more plenty, or more free in its circulation than at New-Orleans. The banks here sometimes refuse to receive it as a deposit. From the future imports into this city, and the shipping employed here, the General Government will derive an immense revenue. The country above is more and {233} more supplied with foreign goods from New-Orleans, by steam boats and other vessels, instead of receiving them, as formerly, from Baltimore and Philadelphia, by the way of Pittsburg; and from Richmond by the rivers Cumberland and Tennessee.

Vast quantities of provisions of every kind, proceed from the Ohio, the Mississippi, and their tributaries, for the consumption of the people of New-Orleans, for ship stores, and for foreign markets. The immense value and rapid rise of real estate in this place, proves the flourishing condition of its trade. A small lot of land there is almost a fortune; and a large building lets for 3000 dollars per year,—an interest upon 50,000. Within twelve months, real estate there has risen from fifty to seventy-five per cent.