New Orleans daily crescent., 1859-04-04

4eh 0rltans 1aiIg Grestent.
MONDAY MORNING. APRIL 4. 1859.
gtm 0rltans Muntu Markat.
cREscIsI oGyrts., No. 70 Camp street,

CREsCEET OTYfCB, 10 street.
Saturday Evening, April q 1859. :
We enter the second month Of spring under good
condition Of trade and commerce. In every branch
Of the jobbing and wholesale business sales continue
large scale in fact, never before exceeded for
the season of the year. Large sales Of dry goods as
well groceries, form important items in the trans
actions of the week. The city is well crowded with
visitors from the INTERIOR many attracted usual,
at this particular period of the year TO participate in
the sports Of the turf In the local and retail trade
there has been variation The fancy stores and
retail localities have, however been well patronized
keeping in constant circulation large amount of
money, with good demand for exchange for remit
tances Northward to meet maturing obligations. No
country met its liabilities with greater promp-
titude and faithfulness than the South and South
west sections Of this conederacy, of which city
is the grand center.
In the great staples there have been as large opera
tions as could have been expected. The large trans
actions in cotton through the greater part of the
month OF March have been followed by lul-corro-
boratve of the movements in the elements succeed
ing storm calm prevails therefore, the sales Of
cotton this week only count up to 81 500 bales To
day the sales between 5000 to 600O bales. Spe
cuative tendencies had much to do with transactions
In the early part Of the month of March in fact up
| to Tuesday last, did these views control. What
brought about these operations it is hardly necessary
for US to alude to farther than that the receipts
began TO fall OF, and the strong position of the Eng
llsh market, which, bythe-bye, has ruled since Octo
Der last at losing figures If the immense sales were
based on views tending to reduced estimates of the
crop, how is it to be accounted for that the move
| ments this week have not been attended with the
same feeling, for nothing has occurred within ten
days Fast to change the character of the estimates
which predominated last month. The sales of cotton
in New York last week were larger than ever before
known, reaching one day to 1880 bales. These
GALES made in trdnstu from Southern ports and
according to our advices moved by speculation. We
have given much credence to the oftreterated
opinions that on the continent of Europe would
seriously endanger the great cotton interests. These
war stories can be made very accommodating. We
| looked upon war certain since the incoming of
the present year. If hostes do not follow all the
| immense preparations, we shall be disappointed.
Opinions now prevail about the supposed receipts of
the year. It is unnecessary to give details. Suffice
to say that what published last October will be
realized. We did not at that time think proper to
encourage ideas given out that cotton ought to go
l5c., nor did we give heed to the wild conjectures
that it would decline in Liverpool to sgd. Estimat
ing the yield at from 3.55O,OO0 to 100000 bales,
we asserted that it would all be wanted and would
| be taken at an average price of lie. u it.
Admitting and believing, do, that the South,
and particularly through this great center market of
the cotton trade, eur city control the value of
cotton which has been manifest this season. and es-
tablish the price possibly to meet the desires of cul
tivators, be it more be it less. There are many
important results attending the contingencies fol-
lowing this idea of control Combinations of spinners
| and manufacturers in Europe we would oppose and
denounce. Another view of this great question pre-
sents itself To what extent can the accumulatons
of cotton be held in New Orleans? Can million of
bales be held here at one time with entire safety
We have held this season over half Million and
given tone to the market of the world with some
holders declining to sell unless 13 to 15c. f9 1b were
realized Even the holding of half million of bales
has been attended with great hazard 1t is entirely
overlooked that the destructive element of fire can
destroy the best devised calculations derde the most
profound sagacity, and scorn the contents of the
porte teues and resources Of all the insurance COM
panies in the world. And this question of holding
millions of dollars of property for stated prices or to
| meet certain changes in the great markets of the
world, involves questions striking at the very basis
and foundation of the commerce, finance and social
| compact Let us witness the accumulation of one
million of bales of cotton in city, and then pom
der on such confagrations have had this very
week. We have witnessed this week the destruction
in almost the twnkling of an eye of five thousand
bales of cotton, stored in strong and well built fire
proof warehouses, as far as bricks could go to make
them so, with all the appliances of water and an eff
| cient fire department to check the rapacious de-
stroyer Therefore, it may well be pondered on the
| advantages to be realized from holding cotton to in
fluence the markets of the world. We may say that
every bale of cotton is insured, but how many fires
in stock of half or million of bales would it re-
quire to place all insurance companies hors du com
bat, or send them into bankruptcy? How many in
surance companies in this very city of ours have been
forced into bankruptcy from fires alone within the
last twenty-five years, and how many millions of dol
lars have been paid for cotton destroyed by fire !?
Much being held at the time for important changes
in foreign markets and rise.
| The money market to-day moved along quietly.
The banks have fair offerings, of them as much
as they do, and two of the small banks have ".
fused paper this week from inability to I1;.co,i;t
The weekly bank statem.csu shows some variations
anu enough every bank is in strong position above
the requirements of the law it does not look sasfc
tory when they are compelled by the demands of the
public to expand their circulation and increase their
line of discounts at this epoch towards the close of
seasons business of good prices and good returns for
all produce. The line of discounts has now reached
S290OO,OOO, and may continue to increase. We have
not so much on hand now at this time last season
by 10000 bales and yet our community is Under oh
legations to 500 9,O65 ,395, against SIC IA 900 last
year. We will simply PROFOUND the question: ha.
the business of New Orleans increased 46 59c with
in the last twelve months TO meet the difference il
the Indebtedness to our banks and though ever,
movement is healthy, or carries the appearance o
being SO, yet We cannot overlook of what figures in
forlsl us. ..s.
The variations in the Bank Statement for the wee
are
decrease in specie OF. .S25S,96S
Al increase in circulation off,. 3T24S5
Adacrease in deposits proper of............ 2l6222
An in short loans 1926
Ami in exchange of ..,............,. 2g1,59i
An increase in distant balances l254S
in deposits SlOf4
The variation in long and short loans for the
week is increase OF. ,455
The Exchange market during the week has bee
we'll sustained. The transactions have been In Il
II aggregate large. To-day there has not been al