New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1855-11-21
Mep Orleans asaonsp asasyast.

CnxscxNr orricr, No 10 Camp street, II
Tuesday Evening, Nov 20, 1000 |
There Is immense amount Of eeneral transactions
going on, more particularly in produce The receipts
continue large, and not only does produce move with
speed but the importstons Of Coes, Salt Gunny Bags
all 60 quickly. Large sales Of articles made 10
the fashionable parance to arrive There NO depres
sion In any article which comes To market, except
Mexican dollars, these have declined and heavy at
lo3x Exchange operations will be observed under the
usual head.
The weather all that could be desired possibly some
Sugar oultivstors may say 1t Is too mild but how will
such remarks apply to the general process Of making
Sugar when the temperature Of Cuba 10 certainly below
that Of Louisiana IT il often remarked that mild weather
at this season Of the year has detrimental influence
ssoohArrpe matter.
There is marked Improvement In the general oily L
trade and would have been satisfactory to
we would chronicle the fact that Wholesale Dealers
every branch Of trade making heavy sales 1t
however, consoing az consolation In phrase in oommer
cis oircles that there has been general falling Of In
the sales OF merchandise In the Northern cities that
city alone by itself In the gradual decline In the
Of sales though merchants cannot say they
have paid fifty thousand to hundred thousand dollars
for dwelling house. they show balance sheet that
will pay dollar for dollar with margin for cloudy days
The Money Market continues toibe well supplied lend
ers Of money becoming numerous. There Is no
doubt but Wnat new orleans Is tne easiest money Market
this continent In fact there is mistake shout it.
but we do not desre to encourage Western bankers
send their paper here for negotiation and encourage our
Banks extend their Issues in the Of Bank on
Camp last winter and when the face OF the bond
demanded for the plea Of usury to nterpose We
this sort in eye which will undoubtedly come
within duty to note ohroniclsr of the times
There negotiations Of long dated paper
day the rates Of yesterday say per ct this quo
Ikef{n tn
Of twelve months date at sk to per Of negotiation
of medium second grade made at 1o short dated
Of good is placed outside Of Bank at Bank
rates The question propounds ITSELF Is this not very
easy position Of the money market Our Banks are
largely within line in fact with large surplus which
idle at this time We learn that the Citizens Bank had
nearly quarter Of million over this morning besides
| its daily increase.
| The Exchange market to-day for Foreign bills was
fat ocsasioned by telegraph dispatches from New York
which quoted Bankers bills London at 1oS Northern
| funds very firm and good demand existed Two
Of the Banks advanced their rates to-day to
and fayorte drawers not anxious to sell at the
rates yesterday and declined drawing We quote
| this evening:
SIXTY London, clear Bills Y
siasy day. asys on pa1 bankers bins
Nsw York g.nsral cent. d.
az q; sii Il
On Western cities no demand, though some Exchange
dealers all times prepared to furnish sight time
bills on Nashville Louisville Cincinnati and 81. Louis
favorable terms to render transmission Of Specie
4 q useless procedure
There Ia but little doing Stock 100 shares of Canal
Bank sold to-day ct H. Within thirty days this
Bank will declare the usual semisnnual dividend Of Eve
per cent.
The weekly report of the New York city Banks of the
4 ;nst abo loaa ofx in pold IL,
loans and s2o251e in deposits The steamer Of the 18th
inst. for Europe had moderate amount Of gold and
money is little easier in New York.
Produce bills on London sold the 12th inst in
Wall street. lo6 to loe but paper going at almost
extortionate rates. say 10 to IL for prme IL to 10 for
second class, and Is to Is for good single names.
French Exchange ruled from SIS to s.1sk. It lisa
long time since francs down to SIS in that
On taking further glance of financial by thu
Asia we find considerable discussion Is going in COM
nercia circles in London regarding the Bank 1874
and Its provisions also undergoing scrutiny and de-
bate In Liverpool.
So far understand that act think many OF the
trammes which 1t imposes and which might be necessary
wholesome in 1874 quite the contrary under the
enlarged requirements Of In 1856. Then the
ostsnness of forced British the disturbing
sgent seemed to call for the interference Of the
Government now although trade 10 sound, adverse
bullion movement is in progress. Whether the
raising tho price OF money will stay the evil without
relaxation Of the bank act named after its author
Peels Bi 1t certainly should be recoested that the
sot In question has yet been subjected to test
war The monetary pressure upon commerce In the time
of war like the present one may possibly become so
serious as constitute evil OF greater magnitude than
any other Of present likely to OCCUR and In this the
commercial community have right to ask for the inter-
position of Government. Currency laws were made we
are told to regulate commerce. and If any provisions
found to shackle it ipuously they ought to be swept
or modified There is to anticipate the unwi
ngness OF Government to inerposs should necessity
arise Were Parliament In session think the matter
would be Immediately attended to- The responsibility
now rests with Minister'S and they willing to
H. having Just prorogusd tho meeting Of Parliament to
the 18th of December and there is that 1t
will meet even then for the dispatch Of busnesso those
significant words having been omitted In the commission
We well remember how iracuicusy thu Treasury letter
Of the 25th October 1s authorsng the bank to make
extraordinary advances upon approved securities"
even the high charge Of eight cent converted bor
OF money into lenders and led to rapid recovery
Of the prostrated commerce Of the country. 81
The last returns of the Bank Of England show the fol-
| lowing results
circulaion .esoe4ssss ncre. Esss
Pryas ....... n,9os0ss ossrs7
Discounts. etc lsasa4ss DecIeste sloss1
Most Of these changes are traceable the dividend
the pressure In the money market continues to great
4 extent.
Nor the position Of the Bank Of France improved