New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1856-09-02

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II --------=----a---
REVIEW or THE
NEW ORLEANS MONEY MARKET,
Ana Retrospect of Financial events for the
Commercial year, ending Saturday,
"A Argssst so, 1856.
- ~s--------s a$zsz
garscEsr OFFICE, No. 10 Camp street .
n Monday Evening" September 4, 1856
me trafnpng Of Time has brought to the end Of
another and are entering on the unex
ppred future this the first day Of September
1856. s55
no feelings Of and acknowledg
snss for the blessings which have been showeed
on cur community during the closing on the o Of august
proceed Rke irrespective view Of the financial
and BLENDED which have transped during
thet period.
date last annual review he three great Powers
Of Europe engaged nhoslstes with prospect Of LONG
continuance although crisis
extraordinary mature had arsenno faafe III the com
,nefcial world have which Ind connection with
cur check Of our mercantile community
which happy based just and solid truths
andfondations months since the unsettled eondi
ton 10 the general supposition that psoaete
progress and implied that ncxanped and extraor-
binary benefits would result increased demand for
kind cereals provisions and it were sup
posed prolific soil Of country could furnish enhancing
urices before attained excepting during The
snort crop scar Of 1876 would result unlimited and
favorable the general prosperity of the country with
haryess particularly to large section
Connected city BY the natural highway Of the nation
and its with the n1approRehRble and unexaInpled
atro position Of tile financial Of commercial
community held out with the unprecedented ateng indica
tons large yield in the great staple, cotton antcipaons
and prospects most gratifying nature as the general
character Of the when We entered Twelve
rnontls ago s# &E34555
10 nraiefd assert day the ondest ancpstons, the
most hopes have not been realized would he idle and
cause ffe rejecting judeious Of the world to think that
are nHndfui Of The bouneonsnes which has flowed IN
regardless the natural and facilities
city ossesses for trade for for
the enjoyment end all the social which mark
happy; scpntenea and prosperous community. q
Commerce. Of wealth. the txender OF civilization
is pushing city surely and gradually to that pin
as,e fame aud greanes hicis destined from its natural
situation 10 Rttnin & y s @ s ~
The evil disposed towards tnd some of them we regret to
IN our midst or who realized partial opuence
tronrb pursuits III New Oean habits and thriving
ninica to institutions the ensous of orr in
csassag trade prosperity astotnded at the great re-
suits the extraordinary magnitude Of the trade wieh nave
attended, lie operations Ct the year under review
The exports domestic produce for the governmental year,
the Custom House. reached hundred and ten mil
Hons Of dollars being over the highest OF any pre-
iors year Of and the year 1865 OF
e to foreign countries exceeding those from Network
Of domestic products FIVE millions and a half Of dollars This
Immense amount Of productions Of the country bound to New
Orleans ~ MI Ties and associations brought to our port
Sor the same period Of time twenty three hundred and twenty
FIVE vessels amounting to the unparalleled quantity 81 one MI
lion thousand hundred and thirtfss tons The
every of the United Sthesses of
the world its representatives 70 u.s. 10 that can De
added mighty and gigantic representatives Of the inland
the great West powerful and numerous argosle
propelled great agent Stean which have daily
almost onrly at many time ut the levee bringing
full cargoe the rich aud varied productions Of eemng
West s5 M 5sB3ss u x
these results Of the of the closing
rHairnr p1tn pF u
surprise nanny of the Inactive the inert and the inefficient 81
our With these multiplied evidences OF resources
ard daily accommodating proof of the capabilities OF the vast
territory of which this city is the natural emporium II
the strongest Inducements not shown for the future
to the capitalist highest 10 the industrious
and the frugal every cline settle in midst shall be
nj aipss TO suggest when The time may arrive,
imports foreign countries Of merchandise OF almost
every naeable description increasing at rapid rate
clay al the great metropolis Of the naon New
York.
at port also large whilst however the
through House is confined staple and
se Kinds merchandise with heavy increases In railroad
iron and soea West The Increase through New York
is composed chiefly Of goods and articles of show tnel and
uxuries being merchandise OF cost and comforting
real bench, country enhancing The treasury of the
general government, and enfchng the subjects Of foreign
TONS keeping country always largely and uselessy in debt
These and increasing mpersions have absorbed the
great exports Of domestic produce for the year
shipments specie from NewYork ard Boston
continues tho Of millions dollars month"; chiefly
maenp tile balance trade caused by the heavy mpoa
lions ofese foreign commodities onehaf Of which might be
manufactured iii this country with good share in this good
city Orleans would capitalists and real estate proprie
tors turn little attention the incorporation of
soeaton manufacturing purposes and which would quickly
deYelepe the resources Of Louisiana. ase
long repeated drains and demands for coin in New
York extend their influence TO Banks and
the strength Of Banks and the sound
ness of or mercantile community without theear of panic and
pressure sustained commercial and financial relations by
item commerce. the great and implied rer OF the peace
OF naions and giving employment 10 millions of operators ana
abon Glasses oil the civilized world and sustaining mil
lions of shipping and worthy pursuits CON
densed that article simply is in six letters, CoTTos, and
estimated This for this market at seventy millions
Of dollars g5..,
commercial year last September with lnge
and heavy receipts cotton being fully month in advance
Of any reyicus year although symptoms Of sckpeSs
appeared the business OF the month resulted in large sales
good prices The easy forwarding market and the
freedom with which factors demand; placed
ally large amount Of money market seeking
short dated leading the community believe The
market would be amply supplied with capital the lewes
for the Money loaned all through month
the Of o cent, paper having days To -four
months factors acceptanees &c. 9uons date
were placed per The large transactions cotton
threw large Of exchange the market towards
the of the month most material decline The marke
opening in the Of the month at e@e premium fo
clear bills on London; S9S bills with shipping docu
Ineuty Francs. a5Gt2s; sixty days sight New Yorl
taking broad range from 10 ~ per cent discount
sight drafts per discount; and sank checks
During this month hue aud character
received Of taking Of part os
fopol Adsices generally from Liverpool during the mont
regarding cotton nat Of character 10 stimulate price
nndafthe accommodating receipts In market and the
pecs heavy yield nevertheless market closed for III
month with about chance between buyers and SELLERS
EzehRngs closed under increased the Market
large rates existing IT the
the MONTH sy Sterling bills 8@s and bills Of adng
speF psetiutn fraaes, Paris direct
bills With shipping documents at sixty days
New York E&a2 per cent discount sight drafts S@S dis