New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-03-16
Alw OgIeans StIoaeg 5flarket.
CRESCENT OFFICE, No. 70 Camp sire.


.. Saturday Evening" March II, 1857.
Notwithstanding we have had much weather during the
closing, business generally has been active,
local adesay dry goods groceries, hardware and
conconian branches in fact of our Wholesale dealers
have disposed merchandise than in corresponding
years past 1t hardly necessary go many
back for comparisons it necessary into lengthy de-
prove the trade merchandise. We
bring support the statistics of the Custom House of
port which show extraordinary additions TO the foreign trade
the amount poatos being the first months of this
year against So 95 for the two months last
year might go further details that the destiny
of our city onward albeit has been subject to Legislative
isdeeds throw it back ten and camp the
energies any community extan The general action and
proceedings of the present Legislature have been decidedly hos
the general interests of the community financial and
commercially for social and political interests they have been
fully in other columns of this journal Last
year capital implicitly inhibited from coming within the
State unless under onerous restrictions in the
way OF taxation. year Banks prohibited from
pursuing dictates of liberal and honest managers having in
view the general good the commercial and agricultural
muuity by the of statutes making every President
and each Director Banks aenabe penalties
for possibly entertaining little of the milk of human kindness
lin granting facilities accommodation the
gres of the growing of city may from time to
time require Fl ti5 -
The many unjust and severe which imposed
our banking system indicate settled purpose
trade of city support, the
solicitation stockholders of the stock department of the
Citizens Bank the of the tring of half mil
lion of dollars rejected. Possibly Iegsa
opne have sufficient capital in the State and this $780,
900 poaby employed longer and that the debt
well be paid in 1859 aud that other interests branches
of pursuits borrow from other The general action OF
Legislature appears be intent REFRESHING and crampng
energies the city Even the petition of merchants and trad
ers with solicitations of those interested in the banking
institutions for extension of facilities have hardly
passing notice. In addition these manifold injuries,
already depleted City Treasury to be sadded with in
expenditures to meet the contemplated coercion or cleo
ton statute. H.
the old Banks to-day within the
0 Now If this Bank emily had granted discounts
its income, the demand of the t:in of
fifty thousand dollars would throw of rule and its appear
would show itself in the Monday
morning. and not placed position before the closing the
Bank day each Director with the President would he
liabe for hundred dollars. How many merchants or
citizens Of responsibility will be willing accept Of the Office
Director To enable Bank to carry the Of the
law will have maintain its specie from quarter
half amion Of dollars than would be actually su-
working purposes. To carry the subject farther
of the free banks out of line to-day $4,000
Now this Bank has days to make this good though
its other would command the in ten minutes,
the enactment does apply Directors and Mana
gers of the free Banks Possibly members of the Legislature
considered the relating the old banks and the restc
the free banks the general banking law without having
the privilege Increasing the circulation offset
| counterpose. ~ 49,
The 1912 gave Board Of Currency ample powers
the old Banks lit addition the general powers it has
authority supervise the charters, aud by Of all Banks
examine affairs Of any bank whenever they may deem
| expedien do So but article s Of section reads:
sThe Board Of Currency whenever they think it eSpe
dent shall have the right of calling meeting Of prope
OF said Banks take its affairs
call annually and at least thirty days before the election
Directors the
stockholders each Bank and lay before full
ports It's operations during the and OF its real situation
powers in the generally been conceded
that intent eonyoke the stockholders of any Bau
violating the would amply rndcate the law, We will
however suppose That il the Board OF Currency no
fled the stockholders Of such Bank by public notice. how lon
could the Bank keep its doors open! There would be l
doubt but what public opiuion woud wind its affairs
therefore, tits believed the powers Of the Board were full
sufficiently protect he public and maintain its conf
J" denee without additional legislation,
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