New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-12-24

Shot sl paper 6o@l9 a days. TX
For Choice and selected Names ii months ALL. Pct
second class mortgage paper 70 Se
lb1rdclaAs mortgage
General rates for paper which may not have the
prestige Of fame from l2@l5 up to 1904 yet.
The tonsorial gentlemen at these figures say they
have full employment for their surplus. Money
can however, be raised or realized at 10 get. or
below by parties who may desire to borrow under
the condition that the money is to be disbursed for
improvements, or appropriated to the advantage
of the lender. Possibly in general point this
view may be considered very trivil as relates to
general finance. This leads to the remark that
there is something beyond cotton, bills Of exchange
and 60 and so day paper to be taken into conside-
ration in the daily movements. The weather clear
ed up to-day, that is, we were favored with clear
sunshine, which apparently had favorable influe-
ence though really the Bears in everything to-day
had the call and maintained it.
The Exchange market was under every hue and
variation. When the market opened there did not
appear to be any fixed rates. Operations, how
ever, soon found basis as the day advanced,
which resulted in sales of sight on New York at
act discount. to the amount Of 100000 in round
sums which led to other transactions, say one days
sight at Ii dis. In time bills we note several sales
of one to FIVE days sight at lt@l4 dis, and sixty
DAYS sight closing at 2l@2} and get. discount.
In sterling we have to quote sales Of bills of ladng
drafts at l064@l06a up to lO62@107, and bank
clear bills under London credits at l074@lo73.
For remittance the rates range from 1Os@lOs{.
The inquiry for francs was feeble. We quote ex-
IRENE rates from 5.32a Pa further decline
| The movements in uncurrent money have been
light this week. The issues of Western banks have
been offered only in light amounts. The stringency
! throughout the West is confirmed. In Tennessee,
| in Kentucky, in Indiana and in Ohio we have adj
vices of very great press for the needful. We do
not understand how this should arise, from the
good yield Of the products of the West. Great de-
pendence is placed on the hog or pork production
in that section In fact, the crop of hogs through
| out the West holds comparison similar with the
crop of cotton throughout the South. The receipts
of hogs at the principal depcts in the West for the
past week are the largest on record. The increase
up to the latest dates foots up 20 get. above any
previous season. One branch of the great trade o.
the country is controlled by the wants of the belly
Just as much as the outer requirements control thu
demand for cotton. True, all countries and lati
tudes of climate can raise corn, wheat and pork
but it is only below the 35th parallel where cottol
can be cultivated. The South can raise max,
all its pork or bacon, corn and wheat, but we fee
disposed to reciprocity of trade, and take TIN
agricultural products of the West the same as W.
do the issues of the one thousand and one bank
scattered over the great Northwest, that is reduc
ing the basis of exchange or trade to coin.
We add to our table the banks of Florida. w
| IF fota
repudiates its general debts. There are man
hundred thousands of dollars of bonds issued b
the Territory of Florida now under default; BIT
whether this should be considered as derogatory
the credit of the banks now in existence under tn
State laws, we leave for those more interested t
determine. In addition to the two banks added t
our table, another bank, called the Bank of Fel
nandina has recently gone into operation. Til
town Of Fernandina is the terminus of the gres
mail route over the Florida peninsular, and whic
route seems to be in favor with many parties 70
the transmission of the United States mail froI
Portland to New Orleans. OF course, a bank is re
quired to aid the United States mail, and to facil
tate governmental operations.
There has not been any receipts of silver coin o
bullion this week from Mexico. In American silve
coinage the transactions have been light. TIL
supply is gradually decreasing, with weekly dim
nishing operations at the Mint. In fact, America
silver coin, instead of being surplus, as last yeai
is likely to be in extreme request.
In land warrants the operations have been yer
moderate. We have no changes to note in prices
There have been no sales of Mexican dollars thi
week. Dealers and buyers talk of 81 as being tn
extreme rate to-day.
We append our usual weekly quotations of col
and uncurrent bank notes, being those of job
Wood & Co., Camp street.