Commercial Notes

The failures of the last year in the United States have been far fewer and smaller in ainount than in Englnnd or Cauada. The Itailway Age says that 395 American locomotives, worth $5,490,040, have been exportad in seven years, and that " the reputation of American enginesis steadily increasing." New Orleans resolves to vote this spring on the subject of raising money to complete her Pacific railroad to Texas. A tax of ?, per cent. for four years is proposed, and, if it is earried, the rood will be finished within twelve months, there remairiing only 120 miles to be graded, New Orieaus 'appears to be aware that no well-regulated city can afford in. this age to be without railroad linos. Good axithorities estimated the last cotton erop in the United States at 4,100,000 bales. It turns out to be 4,500,000. The erop in Egypt and India was larger than eipeeted, and there is enough of the raw product to last until the beginning of the ncw erop year. The war in Europe has caused a falling off in consumption and a decline of price. Neither a scarcity nor a rise is to be expected this spring. The people of the South anticípate no beueíit, but rathei serious injui-y, f rom the European war. They draw their food mainly from the Nortliwc t, and the appreciation in the price of breadstuffs certainly does not help thein. On tlie I other hand, there is no hope of an increase in the price of cotton. Turkey is a large consumer of cheap cotton goods, and Kussia also takes great quantities of English manufactured goods. The closing of these markets will of course roduce the demand for raw material in England, and suffering in the South will resiilt, Tlio only remedy is to jjlant corn, and this has been done to an unpreccdented extent in the South w st. Durino the eiglit months onding witli Febrnary, 1876, the coffee imported by the United States amouuted in weight to '255,784,000 pounds, and in valin1 to $43,140,800; the importations oí tea for the same period amounted to 43,331,000 pounds, valued at $13,796,000. Dnrüig the night montlis onding with Februnry, 1877, the iraportation of coffee had fallen to 190,574,000 pounds, valued at $29,344,000; while the quantity of tea brought iuto the country was only 38,565,000 poun.ls, valued nt ll,176,0ÖO. In this country coft'ee is ranked among tlie necessaries of life, and the deorease of nearly 25 per cent. in the use of it may be taken to mean that the pinch of hard times is nearly 25 per cent. tighter this year than last.