New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-10-23
Wem Orlsans 1ailu Gresttrtt.
THE COMMERCIAL DEPARTMENT.
Ntip 0rltans Hlontp Yarktt.

ne r. 49,. Thursday Evening i Oct n, 1878 |
Very little change Was Observable to-day in general affairs
The Banks were in amuch better position Che old Bsnk this
morning than day Of the week. We fully satisfied
that IL the Banks to expand their discounts and invest
ments in exchange to the amount Of two three millions Of
dollars they would not hold out coin week. They
cannot increase either discounts exchange without being
called Immediately for COIN We observed the
nents Of the holders Of bank bills for weeks pasthat
they Immediately draw the coin Now then, be explicit and
explain the nns ordn the house Of Jones Co. offers for
discount for 81 OO0 might be dis
counted is entered his credit check for the
amount is forthwith presented demanding the CON- If Mr.
Jones' house does the check friend Does The
coin is drawn and boarded for Interior The dscre
pancy in confidence exhibited by the Bank being willing to
take the of Jones Co. but Jones Co. do disposed
trust the Bank by taking Its with exchange The
Banks might take exchange large amount but they have
the coin for it. and issues they might be
called in the for discounts will of course
instructions to remit the proceeds of sales in coin where
balances We further calls for
Banks day. from IS up $500 There will DO
restoration of confidence long this practice is con-
nusd If the pubic will not trust the Bank issues cannot
expected that the Banks the public extent that
will rrerieyaby bring ruin them. The public must restore
confidence and faith before they expect banking nu
to alleviate the present position Of AFFAIRS public
in forty eight hours From intercourse with Bank
managers assert that large expansion at this time
would be fatal them All the public has got do follow
advice above. We have faith that shall work
troubles. Firmness and short time only
| quired. -..
Although financial affairs regarded gloomy to-day,
did discover that they than yesterday Peo
will do well credit the mchevous remarks Of croak
ers street gabbng. -.l. g.
There movements in Exchange to-day Some
sight sold NewYork per discount The Banks Che
CANAL checking at sight and short sight The State Bank
selling per cent discount There talk Of
sterling did not learn of sale s@95 may be called
figures but not sales Nothing doing in time bills Northern
| cities.
The Canal Bank in line to-day 100000 and yester
| in The way of renewals fer ths present.
New York paper of the 18th, remarks follows the
position Of affairs in that city: s.T' "
The banks 9 s city concluded to receive in
The State stock secured bills will be taken par and form
n s s
the Is 80 much Looks
be entirely removed This will ii large amount q
he ofwaIdins and ens much ts.afds
IL IN e. d .aass ss
under 1 this anew order o pg Il w
BY
in and about Wall nidea By
the drain Of specie by banking
banks suspend that all obstacles expansion Of loans
be and tina, the banks could increase their
&c banks do mis- these Of foreign bank
England he plan very shfsxt
this way large private banking house far from til,
banking houses
land Amy panic reyuson in the London money market
caused increased by large shipments of gold the United
States would seriously endange the existence Of those Euro
agencies branches. The object parties
therefore, to I, il possible, any action the part Of
banks that would force shipments of specie from Liverpool
ton in discounts persisted would leave
but importation of gold 1t is therefore determined, tn
these private bankers banks
zion Of specie if possible, knowing full we'll tina
there other the contraction from continu
ing All their plans laid to bring about this desirable
| important result
In New York and other Northern cities the drawing of col
The banks by bill holder has been met in the follow
ing by large manufacturers We believe the Novelt
Works alluded Gron foundry employs upwards of twev
hundred operators requiring the weekly paying of larg
of funds. New York burdened small
renc and three dollar issued by near
hundred banks the State If the banks of this city
expand their discounts and loans the extent that relic
would would prove falacous in the end because b
holders would drawing the coin forthwith. But the cc
lar in question
NOVELTY WORKS New York Oct 13, 1857.
We learn that Of draw the gold til
bills they for This II continued will
getting any bills from the banks and of
inability to employ it is utterly impossible to get col
enough for the purpose.
the result would be to throw all out of employment
duty twhie fully admitting the right Of
bills he holds for redemption take
discover who they who draw the gold after this
hereby notify such persons that shs consider ii
notice from them thai they do not desire further
= | ployment from us.
For the further security who take bills
the thirty the goodness OF all
{ paid out by HORATIO ALLEN, President.
| HOWARD Potter, Secretary.