New Orleans daily crescent., 1857-12-22
ge1 0rlfxns atlortu NlarAtt.
CREscEsr OrFIcE, No. 10 Camp, street, );
-. Monday EVENING nac ri lehl

I
The general market to-day opened very quietly
There little paper offering tho street though the
offerings In bank large learn that discounts were
free, but the best Of security Is required ,=Y
The Exchange market heavy. The banks were selling
checks on New York at per discount. the street
there was no change frem Saturdays figures say 1
count Sixty days sight takeu per discount
Sterling opened heavily closed in way We quote
bills with shipping documents clear good to
bills at l05a4@04 md 104I though we're made on
Saturday at 0 Dealers did any at that
figure to-day. Francs dull at 57O@555.
There transactions In stocks to-day.
The Europa's mails received to-day We learn that
many orders for cotton are countermanded.
Many complaints made, we may say erated and re.
iterated regarding the contraction of banks
termed The want OF disposition and willingness to grant dis
counts and expand POSSIBLY the high prncipe)
great share Of the public do not understand the yseres of
finance aud probably commercial community as we'll as
the agricultural will be surprised wheu inform tha.
the eight banks OF this city have under discount
vested In exchange nearly fifty cent than what they
actually own, or what has been committed TO the
management Of the several Board of Directors directly or
6ducialIy 4s7:9 - ~ "+
The capital these eight banks paid up fifteen millions one
hundred thousand dollars with surplus all that the
banks can really and actually control They
count and loan Sl7sS2 and bills exchange running to
maturity TO the amount of $S2s6929 Total s2l3,5I5l Elk.
change balances accounts be deemed same cate.
gory as paper discounted The banks nearly millions in
coin IN vault and they daposto Sll o0 which may
called for at and nearly Of notes in cir
cnlaion It'll overlooked by the the deposors
have something 70 about the their money deposits
For instance, the State Of Louisiana has deposit In the
State Bank about 900 dollars Has this bank any right
discount or lcan this money! The Citizens Bank has the
trust funds OF the city deposit We think it readily be
acknowledged that the city has money oa its
deposits In bank cannot we'll be used for dsconnng
ca or oher paper. To what extent II wilt be deemed good
policy for banks line OF deposits one half
OF which In day and drawn the mooted
question but is one that can be decided at in the negative
that deposits not safe reliance We point the
Of depostors in October with Bank Mechanics
and Traders the Canal the Unios Bank and the Bank
orleansn fact 10 all the banks The cry gold gold
coming from city depssitors than other sources.
The mercantile community including every merchant
dealer in branch of business refusing credit
even for the very best security what Is paper
which VIII be paid maturity IL sellers merchandise have
cee 10 this liberalization TO refuse the paper
os expected that the banks will receive discount the
paper Of the very character de-
chned for merchandise refused course of trade?
lstsuseess to refer to other cities mode of doing bust
ness paepary where banks have been and still under
suspension The banks Of this city restricted all their
movements by supervisory statute which is now the
highest praises Throughout the country
Il be overlooked that the FREQ b,pknr Inv or tb
State very stringent in its provisions of the
coin required to be in the vaults bank TO meet eo
an amount sncient to meet circulation be kept on
haud dollar for dollar In the hands
Of the State authorities collation. Some allusiou
has been made the street to the position of the Southern
Bank on Saturday last which returned S5 9ls when
the law required 1t only TO have S300 the law as
oneous as will not shield the bank any bank from
on at for specie amount Of
deposits and circulation. Thus the circulation OF this bank
Was Slb2.ls5 and deposits s2ie,e4s Total, sn0e4s In
addition to this there Ia deposited in Auditors Office sO
oao IN bonds Though cannot DO expected
demand for deposits and circulation made yet the
law implies mncA and during coudj ion of
financial affairs in all parts Of the world Incumbent on all
oank to be wafehfu aud guarded majority of our
banks particularly the four old banks already
more than they think some tim hence be.
fore there can be any expansion of discounts
BY the European mail received oday the result of