New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-12-13
9eu ORLEANS 5tlonty 4tlarktt.
CRESCENT OFFCE, No. 70 Camp street,
E6YuF5a,- No. log

CRESCENT OrF1UE No. 70 Camp street ,
Saturday Evening, Dec. IL, 1855
We continue to receive accounts from the North,
he West and the East of general stagnancy in trade
and disordered state Of financial and commercial
affairs. In the Northwest, say the States of Iowa,
Wisconsin Illinois and in Minnesota, complaints are
broad and rife of great deficiency in money and
even currency is not sufficient to move the products
of the soil to market-in fact, all these States are
poverty stricken in the midst of plenty To add still
further to the great depression and to involve two of
the foregoing States in still further financial embar
rassment, the Legislatures of Iowa and Minnesota
have authorized the incorporation Of banks based on
the credit Of the State on the usual plan of stocks
as basis and security. In the absence of pure and
sound circulating currency say of gold and silver
the great Northwest must continue under state of
embarrassment, and general trade irregular and I'M
profitable If million of dollars, of the silver coin
which goes from our Branch Mint in the course of
every few months, could be placed in Minnesota and
Iowa. great relief would ensue to both farming and
mercantile interests in those prolific States. Resi-
dents and citizens Of those States as also from other
Western States, have been landing on our eyee daily
for the last two months in search of employment and
the means of livelihood Yea, the cotton and sugar
section of country are now receiving the citizens
from the supposed fertile prairies Of the great West
Hundreds, perhaps thousands leave their families
and those dependent on them behind, seeking labor
and employment in the sunny South six months in
the year to sustain themselves and dependents in the
West the other six months and well they might
come to our State, where they receive the largest
wages promptly paid in real money and not imposed
by being forced to receive their due in the almost
worthless issues of wild cat Institutions assuming the
style Of banks and bankers otherwise an Internal and
unredeemabe currency now circulating in the North
west and West.
We learn that there is a redundancy of produce in
many towns and depots in the West, but an entire
absence Of solid money Or currency to aid in moving
it, with the country still suffering from the crisis and
panic of last year. Trade languishes, labor and in
dustry 60 unrewarded FreesOil free banking, in
the most liberal sense, and black repubIicanism in
most of the communities rule supreme. The leading
and influential men looking to the establishment
Of paper currency a misconCeived system of bank
ing now under organization in some States as a
general panacea Of the evils and disabilities under
which that section of country labors The towns
villages, and commercial marts bordering on the prin
pal water courses particularly those on and near the
Mississippi and Missouri rivers can be indissolubly
and commercially connected with our city, and all
the cereals, provisions and productions of every ma
ture, find with us at all times the best Of markets
and the best of pay. Though an important Market
ST. Louis has almost paramount influence and control
Of the great upper Mississippi trade yet, we in the
Crescent City can secure share through the ndOm-
table perseverance and industry Of our resident mer
chants and traders based as our commerce is on one
of the best devised systems of finance and banking
extant.
Through this market are furnished the supplies of
sugar moasses, coffee and much Of the salt required
for the use and consumption of that section of coun
try alluded TON fact the iron for many railroads in
the West, with many articles Of foreign product and
manRacture are imported through the Custom. louise
in this city, and many other items form no ncon.
siderable part of the merchandise annually taken to
the new settled States of the West though they NAV
be ice.bound onehalf Of the year. and the streams
dried up nearly half of the remainder,
From all the information before US the entire West
is still largely indebted to New York, Philadelphia
and Boston. The investments in wild and unproduc-
tive lands and real estate in general the subscriptions
to the stock of railroads. of which scarcely more than
three or four will prove productive, with the inudi-
cious and rampant speculation previous to 1857,
hang ncubuslike over all classes OF citizens
Depression and stagnation in general business stI
prevail in the cities Of New York Philadelphia and
BostOn--n fine throwing aside the operations in
stocks and the importations of foreign goods into
New York, there is more real business now donp in
New Orleans than in the three cities of Boston, Phi
adephia and New York The imports Of merchan.
disc from foreign countries into the port of Phadel.
phia for the last month (Noyember) only netted to
the Government for duties S76,396-the imports into
New Orleans melted $3.50 0O0
In the manufacturing districts throughout New
England a manifest and general improvement has
taken place Many mills which have been running
short time have resumed full time This creates a
steady demand for cotton, and as over million of
bales are yet to be sold in this market this season. the
good effects of the general resumption of work in all
factories will in all probability, be realized as the
season advances
Referring to the great business of our city. there
has been sold in and exported from onr market since
the commencement Of the present commercial year
the LIST of SeptembeF-pr consisting of cotton
sugar, moasses and flour to the value Of thirtythree
millions of dollars To this amount NAV be added
the sales Of coffee, sugar bagging aud rope and
other merchandise reaching nm almost incredible
amount; and this vast amount of business has been
transacted under an epidemic for two-thirds Of the
time.
The business of the week now closing has been
satisfactory. The weather has somewhat interfered
with the receiving, moving and shipping Of produce
and checking in some degree large outdoor transae
tions nevertheless we have to say that $4,000 bales
of cotton 1000 hogheads of sugar Is 900 barrels of
molasses, with other domestic products, have been
sold OF foreign products, there have been sales of
$1,000 bags of coffee 10000 bags of salt and other