New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1854-12-30

1 1y ss on on Fs@Yos Bankers S.
Shy "a ass pssm
Sghi and cbers o,hr gradessA q cent premium
The receipts of Specie this week are:
From T Ts%pssh z sSs iss ss
From Vera Cruz, by the orizsba as,.s
Previously aimee September $780,
Total 's
Mexican Dollars find ready sale at 5i< per cent pre-
MUM though there is but large buyer in the market
The Mint ia paying 81 22z which is slight
advance former rates yet sellers find that private
dealers compensate them fully WE'LL without any devil
alton or discount for short weight.
From the weekly statement Of the Banks which we
published on Wednesday, it will be observed they
tended to that degree compatible with their safety
In looking at the gross amounts of Loans and Exchange
items they will be found to be s244S50l0 This Is as
far as they can go with the present amount Of specie
The Banks Of the city Of New York, with line
Of deposits according to their last statement of s6l
100000 have discount line Of $50 O0oo00 The Banks
Of Neworcans with line of deposits OF s1l have
discount line Of $2l ,Sss,000 The Banks Of NswYork
have under discount their deposits 81 81 the Banks
of Neworeans have under discount 81 IS dollar Of
deposit The capitals of each city, in NewYork the
amount 81 10 under discount to dollar Of capital
In Neworesns 81 81 to dollar Of capita-assuming
that capital is fully paid up in both cities Although
our Banks have larger specie basis in comparison to
their capitals than the Banks in RewYork yet the cir
culation being confined to restriction suitable pro-
vision raus always be at hand approximating closely
as possible dollar in coin for dollar in ISSUE
It is now manifest that the origin and of the
present pressure and crisis in the financial condition
the country all due and owing to the discovery Of gold
in California There is now, according to statistics
sl390oooOo gold in the country than there IN
the wear 1913 The inquiry is where it is but have
seen no to the question ALI there is to be shown
the breaking Of Banks the failures of merchants
the suspension Of labor in all chief ports
the dsbanding of artisans the shutting up manufacto
res and thousands of employees made idle the destu
ton and distress in all sections of the country the ex
traordnary high prices Of breadstufs-inated and Gre
ated by pcnnless spectators and irredeemable Bank
throughout the North and West with their dependant
In Eastern cities-a aiding and fastening the
ploson which is propheeed to be approaching We hav
an evidence of the oYertrading propenses and legti
mate investment in the suspension Of Of oil
firms on Tuesday last The chief OPERATOR who is said
be the reputed of the misfortune largely
gagged in grain and pork operations last season.
It wonld be supposed from the products Of California
mines that the basis of our paper currency would b
substantially strengthened by gold but have evi
deuce Of It, Gold from Its great supposed increase wou
be supposed have forced paper money out of crcua
ton But facts show 1t has not In the North and Yves
| particularly.
Within the past fifteen months four Banks with CAPT
tails amounting to 42500O0, have been organized an
commenced business in city. Have they added an
i amount to the solid basis of banking capital? Not
dollar All the specie that has found It's way into thei
vaults has been drawn from the old Banks which
something like taking it out of one pocket and putin
II in the other In January last the amount of col
with our eight Banks 462 245 at the present tin,
It ia s647O2S5 We at now, under the banner
free banking it may be termed of experiment
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