New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-11-06
Neb 0rleans 9aau 6rtstsrt.
THE COMMERCIAL DEPARTMENT..
Nem 0rItans 5tluntu Ylarkst.
cnrsorss o.y1cI; No, 70 Comp sire


Thursday Evening. Nov. S. 1851
The general feature to-day n financial circles
Of decided favorable import The reaction hiss taken
place. aud we confidently look daily for
sometime yet we do not expect the pompous the
three years to predominant have passed the great
crisis Of 1881 but for the future discretion judcous CAL
cuaton and old fog Ideas will be required carry through
successfully We dubious about the large f
gold or coin expected to come from Europe until the large
poations Of foreign merchandise foreign fabrics are cur
tailed Those expected receipts Of gold may considered
something on the evanescen order As confederation
views we have to state that the emer Asia for Liverpool from
New York on the 18th inst carried 100000 specie The
might have been in Mexican dollars And again we have
advices by private teegaphc dispatch that the Canada
arrival Of which announced yesterday brings million
Of dollars in gold. But that regard
the reported rates OF Sterling Exchange York. 06
l and even l0s as rthering the expectations large
amounts Of coin will come from England with the rate Of In.
terest the Of the Bank OF England being enhanced
above per cent We will suppose the
should suspend coin paymens how present
tude Of affairs effect commerce and finance this sides
memory rightly was an edc passed In SiS
Iegsing the issues Bank Of France even under
state of suspension Has this edc believe
not therefore, If pressure the Bank Of France
may hear Of its suspension Of coin payments.
There presidents In annals commercial
financial history which opinion be
formed of the condition Of affairs the great
ca world In Europe there AID all nations
that Continent The Indian utiny course
exception. Pesence famine have prevailed
yet fearful financial and commercial Revision
If is coming hope may come does
the it will be ended.
The changes to-day in market very favorable
character Exchange particularly proof upward
feeling The demand for sight funds New York good,
and several amounts were taken 33A to and 4@5
cent discount showing improvement Of fully cent
tbs of the The Banks selling
checks 2@2a cent discount In sterling there
larger transactions than any dry month past the
ruling from ao@92 1905 There demand for time bills
Northern cities there demand for francs though
we may quote them at 625@6 05.
In stocks learn Of the sale 10 Canal Bank
t. and reported sale Of Bank of Louisiana quoted the
street.
There appear great many schemes devised
rating and improving the currency of the country One in
huena in New York proposes issue Of
toned by act Of Congress authorizing parties send their
bills shin pasters Washington with ock security and
there preliminary authorized by such
ties and stamp on the notes Issued the following:
the United States"
Now this would be great paper paper and the
gold be banshed from circulation
hsps forced to Europe better mode drive all the gold and
silver out of the country could we'll be concocted.
Another writer in the New York Journal Of Commerce sug
gess Bank with capital of forty millions of dollars
following manner:
Do you think institution could be advantageousy
founded entirely banking institution with very
capitassy ~ millions Of doars-wh certain privileges and
Gys the deposits Government
Let the business be based specie; this objected
o ew S u es II sna
the State could issue the smaller bills
would only lose what they to value
S oms % sy DO nS issue hs BILL
times likewise 10 aborious to themselves bank
undCubtsd!y specie while gold
To make such bank entirely useful the usury laws mus
sy 80 Il
s s ehs to
directors and others making their shaw outside Of bank
While if there were an open market at any wal
It's u
level l. therefore think this law helps the capitalists and
This bank being established then something
se1
would be regulated by Its fill the demand for
IT, and IT,
bills being ga de, oased as we said on specie the o,he
for their wants the counter rise in It's would s1ov
who supply toto shey would gradually make none
dearer and gradually check speculation in times like tn
would have been hurul while undoubed bein
circulation distant points, and based Specie nevere
less would make them stronger pressed by their de
postors.
We take decided stand against all these suggestions pro
positions. They nothing than the pepetuaon of tn
I
by the thousand and Banks located every
| the country expect the Southwest
We do desire the Independent Treasury amended
further than to curta the privileges of the Secretary tn
Treasury in the transferring of the public money from
on of the country another We desire that there shall
restraint and complete stoppage of the system of allowing h
Treasury Department grant for sale marke
on another.
The many ideas promulgated to what Congress
ought to pursue regard chimerca We have worked
along well without under the sanction
of government and all is that government will
nue collect its dues in gold and silver egang the
of silver the gold pay its debts in the
restrain the Treasury department from issuing Treasury
rants and converting the repositories of the
quasi brokers shops and exchange Offices This all the
South desire Of The administration unless enlargement
Of mail facilities We do want the mongre currency
Northern hnanciers We perfectly satisfied with the
banking system of Louisiana and challenge the world
superiority
Statement OF the Deposits at the Branch of the Mint United
States at Nero Orleans during October, 1851
GOLD DEPOSITS.