New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-10-11

Previously received since lst Sept.
Total receipts since LIST Sept 1858,

Five hundred thousand dolr in gold was received in Sep
tsmber by the United States which not brought
into our table though good of 1t will be disbursed
The question Of organizing Bullion Bank in the city Of New
York debated time private circles in that
city or every scheme, every newfanged project has
its adyocaFes-
depositor might place thousand dollars or any sum- in
such loaned bond and mortgage but really
who would be likely place his money be loaned
proposals which constitute the basis Of his machine
think might prove something Of Credit Mobiler Brandon
Bank affair The New York Times, in commenting the pro
jeet, says:
We have taken no part hitherto the discussion Of the e1
pertinent of Bullion Bank in this city The proposition
create capital of million of dollars be permanently in
vested in per Bond and Mortgage the of an office
deposit exclusively gold silver the deposits held
sacred for check the depoo small charge TO be
by the bank for their safe keeping This charge
as the simple interest on million Of dollars viii scarcely more
than support the machinery Of the office and the taxes upon the
capital Bu assuming the poht OF the concern as secoR7ar
consideration, the question upon the feasibility Of
on 5eo D5 q ndvaaei depoo viii liz er pay
such service while the Bank Of Commerce. with ten millions Of
capital 100000 surplus and m old ana 9n9uestonaby safe
In another view is such an experiment adapted consistent
with the business habits and active commercial genius Of
P ee s believe there L ts d69bt b e answer
1egave 1pn liz most Iborough c0nyss Of The sct
vdei special sufficient is shown for reyoutohzng
such reason has been sought for by the advocates of the
roeoeot little the innsicay superior value OF gold ven
New York secured had 70 do with the
poson Of the 18th October the subsequent restoration Of
confidence In three days after that event gold
currency returned bank with greater rapidty
ii leftit The premium fell to fraction, and this
only paid export demand. For domestic this
cous metal drug 1t could not buy New York State
Stocks be lodged Albany basis for tank notes
ut premium on The latter after the first depression and
element had passed over Our city banks found SS0000 Of
country bank notes secured far profitable
Than gold and collected hee notes, with cent interest
free Of loss In the midst Of the upon banks by their
depostoFs this secured paper circulation many
any degree Of FEASIBILITY to the Of the New
currency 1t said by many be the result Of the abuse
and initiation of Credits outside the ordinary volume Of
circulation By others the final of the crisis upon
the banks themselves after the merchants had been broken
down. charged the unwise and cruel during
trouble Of mercantile and bank forne the policy
fWhat then called the strong banks themselves
the cost Of their liberal neghbDts aud the sacrifice
Of their suffering customers. The end 3
amity and LOOKING back all t ed through the
weeks that preceded general suspensions difficult
how could have been otherwise Our deliberate eontlu
sion now that the banks would have saved world OF mis-
chief by shutting down specie payments the 18th of Septem
ber the announcement Of tho Philadelphia disaster II
only the apprehension which in the end proved grOundes
that the State Constitution nfexble the subject that
prolonged the Struggle State and city pride had something
do with IT, bnt this humbed before the bitter trial
which the struggle had brought upon the mercantile
nifty Seeing and feeling this the heaviest Of ths hhnk deposit
if by preconcer the 18th Oeober ended the runous
Of desperation and relief felt and the gold
which had been withdrawn partly lesson, and paFsy for
supposed premium that the metal might be worth
o