New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-10-03
Nelu 0rltans 9ailu @rfstfrt.
THE COMMERCIAL DEPARTMENT.
Ntiu Nrlsans Noatu Narkst.

&C.,. 7 . SbS-.'-51r |
t. iIN CRESCENT OFFICE No 10 Camp street.
Saturday Evening, Oct. 8. 1875 |
The week now closing extraordinary
annals Of this city The financial difficulties which
community and which have been the chief SUBJ
excitement owing to misguided actions Of
merchant No community show clear hsrds Of
speculation extravaganza and prodgay this Some few
citizens made rather undue exhibit Of pop ostentation spd
beray jsunts Of pleasure Northern cities, which
Eooyetading has attended the general
Of the business OF city The poations from foreign
countries large The increase when compared
and of EXPORTS falling largely below
ability Of community to meet merit hardly moments
consideration No large investments in real and wild
lands czens Our chief articles Of
export brought high and remunersve and
ALL with triing EXCEPTIONS have Teen paid for. Our
mercantile community does the moDed Institutions
but trife $4,000, which is only half million 10
Of the time last With all Favorable ante
cedens with Of the most popular and best devised
banking extant this community portion engaged
in commercial pursuits has been for month labong under
srngepcy and in its money appliances which have
had parallel since the years 1857 1872 From position
of comparative and quietnes prevailing thirty and sixty
days SINCE with prospects the suspicious
profitable and sound fall business with highest prices in
view for staple with hopes Of and productive
seasons happy remark not yet
nished-witb the enjoyment Of high uninterrupted health
the great motive Of and finance money has
advanced from uiing Of to e1actons which
have comparisons with the article ult raise Of
and inquire if 1t 10 late how got present
plightf The various and connections Of great
mercantile community cannot Of course be probably pursued
without being blended and cononed with others but there
such thing perfect vasssge-ingorious dependence and
this community finds it, financial interviewer
with what has been heretofore deemed the noned and
cfal Of the Union, the city Of New York that the
overding the overbudng Of railroads the endeavo
build hem surplus building Of large and costly vessels
the extravaganza The prodgay the foes evinced in the
erection Of gtterng and snowy and dwellings,
marble palaces-atempDg ouvie Oriental spendor and
magncer stock dealing specializing in every article Of
trade and commerce. the erection Of manufactures credit
building Of paper in Minnesota Iowa and Wisconsin,
that all these investments reacng solvent and
sound city and merchants suffering dependence
bankuped and insovent New York. Philadelphia and New
England 1t papabe that the whole fabric Of
Northern cities is artificial and has for years Modern
influences and examples have ruled The
day Of evil and trouble has and the good and
prudent portion Of the country has suffer for the IMPROVE
dence and mudged views Of New city Northern
contemporaries.
When the will cease, how further
tend short time will dvuge. We have of New Or.
leans The pressure will longer The
failures and suspensions of all the weak Banks the half nso
Railroads. the closing Of exavagant and overradng
commercial firms the general reiracy Of all trading Dor
rowed Capital all the is to be expected The hur
caue take its The sound ard solvent will have
trouble when the doubtful and very doubtful
bearing incubusike the sound gone were
oblivion We consider that those who have abundance of
their current liabilities bound sacrifice
the last dollar in preference suspension that If firm
hundred dollars and has two hundred thou
sand dollars in assets it is bound to sacrifice
other in preference suspendng Those who
make equal exhibit something surplus only
exhi bit dollar for dollar ought not to sacrifice three
month, but stop These remarks do not
apply to any special cases. but are for all sections
The money market to-day though under some
influence from the unfsvorabe Of the dispatches by
telegraph about oneha Of which may correctly passed
without excitement The calls larger pre-
vous days of the week The discounts extremely liberal
at all the Banks regularly dscouning Saturdays On the
there few sales of paper Borrowers generally do
not willing to for "a and Sc
annu and working along remarkably we'll There was
little trouble to-day Some two three partial supen-
sions announced but the parties will opinion
out straight Cotton moving hut the great motive power
few millions Of gold, is wanting work the machinery
finance 1t will be coming along shortly The country
yet ruined New Orleans Louisiana, Mississippi and
Arkansas, in particular The market will be tight for
| short time longer. r 4H
statement Board of Currency this
morning. shows great decline in specie the week. say
nearly $S000 1t is really than this the
Banks has purchased $4,000 of Mexican dollars which an
well for basis The gold has undoubtedly been reduced
by calls for the Of duties the Custom House. This
the Banks it is believed willing supply but they
required to furnish the views of the
men through its SubTreasurer that is another question
vovng serious doubts whether the Independent Treasury
expressing this mercantile community. Has the time
rived for merchants and ALL to take action this
policy. We think has, and hope the Chamber of Com.
| merce will move in the matter. ~.
There have been calls for coin for The West which
stoned by the high of sight drafts New York. which
item of the of trade There has been Mobile
about 600 in gold. We wonder the Bank of has
been market selling its exchange However, Or
great place. and few thousands to Mobile
| any time.