New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-09-01
Nen 0rltans 9ailu Grtstsat.
REVIEW OF NEW ORLEANS MONEY MARKET
4dnd Retrospect of Financial and Commercial
euents for year ending august 81, 1857.


e,ents FIR ,,en, ending august 81, 1857.
CRESCENT OFFICE, August d. sol.
Financial closely connected with those OF COM
mece agricultural and mechanical that In taking review
financial events Of the year now terminating we
compelled in some manner 70 blend All. |
The year closing has not been attended win any I'M
events In finance For two months there waa
in the general money Market which will be fuy audea q"
weprogress.
The gratifying prospects for the future prosperity OF our
city and State the mechanical and indns
which have in city and enVo w''hh the PAST
two years. More recently have they attracted hs Vi
of most influential citizens leading US TO nope tnA W
time Is not far distant when we may efao
and associations OF every KIND ana aehcrP'lon Nc Is"
make great and wealthy emporium surrey our Guy
advantage Of climate the appliances OF mshy country 10 AZ"
and sustain in all undertakings not available oJ
cities; with vast coal and iron mnes with almost ehoss w
variety of forests ready to furnish materials ior ~
quremen all within short distance Ihere are the co"
OF Ouaca, the iron of Tennessee and Missouri the
woods of State Mississippi and Arkansas he
Of which all ready to fall into our lap as 1t were
So far as regards the mechanical ana 1ho"s.fi @ ,
city and State, with the exception Of some IRON my
generally in very inchoate state We nave
pleasure OF chronic'ins that during the past yea nov
feeling has prevailed in the minds OF many OF our ho
onerpsng and devoted citizens on the subject Oh i"o
ries, Several associations have been organized LOT W
industrial arts the erection OF factories or ess anu o
additional foundees for iron have been esansheo
for oil and other purposes are also uhaef ope'a'h a"
plated The iron foundere located IN our c'y "' 'oe III
perfection in all work will be conceived now important anu
useful this branch of trade Ia the gigantic
hand maid ship building and steamboat the MINER
yards docSs shops and buildings on the opposite side
OF the rer also denotes and atests the hsh TINS
Interesting adjunct Of commerce mas reached IN our mos WIN
prospects, OF enlarged sreathess.
Industrial and mechanical genius and enterprise viii create
untold wealth or u.s. In iact 'hey ae WIN lapoi o VI
capital and Independence In the various prp1e winch nave
received and are attracting the npera ana speo our Gum
muniy we know OF none OF more essential a e
organizing of cotton manufacturing association FROM me
time that cotton has been an sce Of trade has year ai'er
been son thousands OF miles TO ne aae up ho anu
back to MS with charges and costs sucent TO havs
and built the village Of Agfers and Grena from the
to the lower limits in manufactures iheh tha raw
Of State transported to Northern Cities rehnea ana
brought back to when with limited amount OF capital or
share of the money dsoursed by our own citizens ana an'eF
IN distant places womb nave erecteu anu 'ushed VI
eneries True have some few retnee conducted
within the limits of State but others from want OF patronage
have been obliged sncrumb to the spirit oil absente
While commenting on this singular conditioner hias ana
mpolidc cannot omit calling attention TO tho manu-
Baton Rouge whore carriages OF every KIND anu
railroad can be built and work superior TO any maze IN
Northern turned and the railroad system per
ancnty adopted in State we trust that the money Oh Inc
State will be retained and dlsbursed within its limits
II is however commended by those nimica 10 onr nest In
capital and industry wanting to promote mecha-
arts and associations with banking powers nave been
suggested end and enlarge the facilities required 1t is
doubtful expedent to encourage Banks based on borrowed capt
tai would in general view snoseve the general pros
''-
command Labor and land are the Chief re
only OF capital There large sums OF idle capt
tai that has been accumulated in city which, not governed
by ayarce and coyeounes might be most advanlsseousy
and uefuly used and place our rich and prohc State as
ought be- great and independent incorporated trades
nsty every denomination will prosper haVHs oFiehy DIS
posed of subject may deemed OF the most vital
"'ui' W 'e "e'' 'st"s VI ' N0' w. f
commercial and financial events.
commercial presented
oo~ar,rv ~, oio, Of the NANCY market which Ina,
d" .'u''' '"7' p - - - -. ,,.ni,.i.,
continued Tor months at very low rates oil interest
abroad aud discussed pro and regarding
r sanIa cotton and from the DELAY in receipts business (n
a the month Of septenber 1888 was generally inactive
t o,,,,;o, from sr MACS rory,out tn, Njs,issipr
a,ar ,r5 t,. good haa which our CITY ha
- al, trouoh the summer of 1885 encnurared the retu
be month If entenber Of Inrge numbers of our resdpn
onrIotion In fact santember of 1g5s oneued with til
ra,.rta of cotton in aheyance the month advanced til
ra estimates of weeks were abandoned ard all COT
sed with the trade in this section became convinced
LARGE ectfu in the growth from the previous
ayDdble To cheek the advancing opinions crop
correspondents in New Europe address principal
with many allowances which, the weekly circulars
brokers' influenced the English market
suspend all transactions this
the lscodant opinions views kept Liverpool
chester markets iarrnE through the autumn
r,r1, ,bo rogo ~ tho month the ,apnero.nrs os III
-. -, =. A. ,.,., ubi,h ,.,t, ,hs an,a,r,, nm