New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-10-19

L
We have passed The Rubida of financial and corn
mercal disaster W. are ID other hide, sabstan-
tally sate and sSnnd, althon Ne some
whit during NV w may have been bruised
and stratchex and tom ID animmateriaI extent but
be that d II may here We are on the safe side Of the
stream Of solsency, and here We will remain. Moth
Ing can now remove u.s. With us the worst is over,
and the future looms up hopefully before our entire
people,
We shall not attempt to review the financial egehts
| III tie past wonderful week. That has been done
ayby cur financial editor. Besides we do notprofess
10 Al extraordinary amount Of patience; and should
We proceed to crtcise the conduct of hundreds who
panic.stricken and crazy with excitement, endeay
ored to infict sirrsparable evils upon the COM
lmunity and upon thenselves-of which condnct
Ia large majority Of them are now heartily ashamed
f. We might, speaking candidly and truthfully,
~ things that would CRATE unpleasantlyI upon
xears Of many whose feelings we would not
soessasily lacerate. Let the past take care Of
itself; but for the future, in the name of common
RIGHT; common justice, and mutual interests insep-
arabiy ntertwined for veal or woe, let not so many
of our citizens e get on scare and make fools of
themselves as they did last week. 2y
M opened discouragin but itclosed prom
forever mark its advent and its exit in the annals Of
finance. Passing over the run on the banks, the
temporary suspension of some and the
and nonsenscal excitements occasioned thereby, we
will come down to Saturday and to great staple
cotton. After days Of depression, after numerous
disastrous sacrifices on small scale, however, COM
paratiyely speaking made to preserve the CONNER
cial honor and credit Of the city, cotton rallied ma
,nx
Middngs were sold at an appreciation Of fully one
cent over previous sales This we view as precur-
sor OF more prosperous era and within thirty days
We confidently anticipate that cotton will bring its
real yalue-wi be sold at rates TO which no reason
able and honest planter will object. sct
.i Large amounts Of specie have already been re-
ceived. Lager amounts are known to be on the
wsy. The steamship Cahawba will bring vast store
Of coin. She is due this week. The steamship that
Is expected to reach New York to-day from England
will bring, in all probability, large amount Of gold.
Gold must also flow in, within brief period, from
Germany, France and Spain. The condition Of the
exchange market and the absolute, MEMORABLE neces
stiles those countries labor under, compelling them
70 have our cotton under any and all circumstances
wards in order to obtain it, Without the coin they
the coin is bound to come. u
mention these facts not only for the purpose Of
restoring public confidence which has been as un-
wisely as unnecessarily shaken the past week, but
for the other purpose Of convincing the public
that golden basis sufficient for all the requirements
of legitimate commerce must and inevitably will be
here, within brief period. All the community needs
now is that mutual confidence and forbearance shoud
~ dovc
Crackers should be avoided as unclean things and
panic manufacturers regarded moral pestilence
not unlike the physical pestilence Of 1858.
Cotton is king still, notwithstanding the recent
disasters He viii rise from his reyerses stronger
than ever and his rule will be more firmly fixed than
ever. tai.
The suspended Banks partially resumed payment
on Saturday - giving coin for small notes. We are
persuaded this course will be persisted in during the
week. and that by Monday next they will resume
payment on all their obligations. When the panic
makers drove them to a temporary suspension they
were just solvent as solvency itself; and nothing
but the widest foolery, combined with suicidal
phrenzy on the part Of persons deeply interested in
their permanence and prosperity could have forced
state Of affairs which is now deeply as it is uni
versally deplored We are confident they will all
resume in time to their charters, and feel assured
they win speedily regain their former position in the
confidence Of the community at large. s..
With these remarks we bring our article to close
assuring our readers that the skies are bright, the
tokens auspicious the future promising, and that
dark clouds can again disfgure our commercial hori
zon for this season at least if we are true to our
selves our interests and to the credit Of the mighty
metropolis Of the southwest With a great cotton
sure to be realized with bounteohs crops Of all other
descriptions of earths products already secured and
with business season dawning upon us, holding out
prospects of an unprecedented character, what can
we have to apprehend unless we are bent upon per-
petrating financial and commercial suicide. l,5+
----->> ~--------
For MEMPHIS AND CARROT Memphis packet
line steamer Ben Franklin, Capt j. b. Clarke connecting
through TO st. Louis and to Louisville by fine packets from
Memphis, and by railroad from Cairo leaves at p NJ this
evening j. Freligh, agenoce, under St. Charles Hotel
R4.sl ~ s-------- T..
PIFPEr's GREAT FANCY Goops REIMBURSEMENT
Mr. Pes store No. 122 Canal street. Buildings may
be set down the peculiar Institutions Of the city,
extent Of Its fancy goods is altogether gigantic the
variety Is almost any rate great no ord
person could hope half the articles The
store place for everybody go it contains something
to suit the need tickle the fancy Of yeryhody
general attention 80 Mr. Pes in this mornings
Crescent. 5saT8 }is,.4 y & a.. aHs lii
PATENT PRErARArIoNs.r-For rats, which under
mine houses and for coughs and colds which undermine
constitutions sovereign specifics be had Of Messrs
Wright Co, Nos ~ and ISL Chartrss Wilson'S
Destroyer and Weights Indian Vegetable Pills Their merits
are detailed nthe advertisements smother column,
= = -s'----.------ .l-rI
CARPETS Messrs. A. Bronsseau & Co., No. 10
Charities street, have all kinds carpetings hand which
they furnish in any quantity They the paper the
suspended banks at par See advertisement. szf a,f
WINES AND FRurrs.-Large invoices of these ar
dces have Just been imported by Messrs Graaa Coumagere
A CO., No. 20 Gustcmhouse street See advertisements