New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-12-02

In Francs there was very little doing; in fact,
the transactions with the Empire of the nephew
Of my uncle" appear to be on a very diminutive
scale, with rates Of exchange tending in favor of
buyers. We quote on Paris direct $40 to 5.163,
and on other points 5.25 to $40. If we have an
other decline in Sterling and in New York funds,
we may realize some importations of gold It will,
however, be very unsafe to rely on the decline es-
tablished to be sustained. The movement was one
of those freaks in finance which the unnitiated do
not understand, but known to the projectors and
incipient movers. 1t will prove highly advan.
tageous to all remitters northward and if the Ten
nessee operators or agents, as we'll as those Of the
Kentucky banks, are prepared, they may realize
some good bargains. There has been some con
tention about difference between sight exchange
on New York and Boston. Exchange or drafts
drawn at sight on New York are payable on pre-
sentation. The laws of Massachusetts, are different
so that bill of exchange drawn at sight on Boston
the drawee can avail himself of three days grace
as appears by the following extract from the Laws
of Massachusetts,: --
Bills Of exchange drafts etc. payable sight at future
day certain within this State entitled three days grace
In New York, grace is not allowed by the banks
of that city. However, it does not make much
difference in the sequel as good bills, that is solid
drawers, who make sight on similar drawees il
Boston, will cash en- presentation, with slight de
duction. As this deduction, however, may, il
large and running operations, foot up to consid
cradle sum, buyers and dealers in Boston funds
very properly in our view take this difference into
consideration, and are unwilling to take Boston
sight at the same rate as New York sight.
There were no transactions in stocks or bonds to.
day. As regards bank shares, holders have no
desire to sell, unless at the highest prices of the
season-say 2.40 rates. There were some Railroad
shares offering on the market-say of the Jackson
Railroad. The returns of freight transported over
this road for the past month show large increase
over the corresponding month of November, 1858
The quantity Of cotton transported in Now 1859
Increase of bales. 1854
Money matters appear to be very unsettled in
the West The financial article of the Missouri Re-
publican of the oath says:
Their no change in money matters All Of change difficult
counting institutions at the regular rates-whch really
s New osas firm ny
- FTGm which appear interior
recovered their financial difficulties but yet
sSs $S hfYs has hs f
lowing reference tile pnchng times in its neghbohood
@ " fH . sifs ,Sss
this rate much longer all the property in the country will be
materially Legislature will strongly peii,oned for
kind of relief bankrupt law Indeed petitions gone
the Governor from counties already call special
session of the Legislature for that purpose.n
I Of ha
dependent country banks Its opponents there mistakenly
that its friends DESTROYS the proposed amendments
to make the country tributary to the city
The Price Current of that date says:
The money market without material change Banks and
bankers there is plenty Of money for the right kind
gal rates. but those who find diff
cult to be had Currency very and get
below Missouri paper The demand for exchange excess of
the supply and rates on New York and New Orleans for sight
sold ut a Time bills in demand 1s34 per month dis