New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-10-22

Nothing TRANSFERRED in the general and misce-
laneous stocks, and all value may be considered as
nominal.
In the general uncurrent money market there
have been larger offerings of distant bank notes,
which have been and will continue to be readily
purchased by our brokers and dealers within the
range of the figures quoted in the table below,
which must be assumed governing large transac-
tons. For it cannot be supposed that one having
$40 or $50 note of distant bank issue can expect
to receive gold for it for the trifing sum of two or
six dimes discount.
The several prominent money markets Of the
West are hard pressed. Money, in fact, currency
is scarce in Cincinnati, Louisville, Chicago, St.
Louis, and the remark will also apply to the many
minor cities towns. Money, that is, gold or
silver and currency two different things entirely
throughout the West. The loose legislation of the
different States, the varied constructions under
which paper money is received raises many doubts
of what is the standard of finance throughout the
West Whether gold, silver, or the issue or mani
pulation of some favored favorite bank are taken
as the standard. 1t is manifest that there are not
sufficient notes Of the banks of the great financial
center (New York; in circulation throughout the
great Northwest to constitute standard; there
fore, it will be safe for the Western folks of Ken
lucky, Indiana, Illinois, Missouri, Minnesota, Wis
consn and Iowa-so closely are these States con-
nected with New Orleans-to consider the bank
notes emanating from the banks in the city of New
Orleans as the standard hereafter-they can be
placed in the high position as gold and silver.
Some of the banks in Missouri have been accused
of fragrant violation of the principles of true
banking-to what extent and in what manner we
are not informed, and charges of similar charac-
ter have been made against the banks of Iowa.
There are no doubts whatever but there are latent
and serious defects in the so-called free banking
general banking laws of all the Northwestern
States; that many abuses occur from day to day,
and are likely to That the free banking
law of the State of New York is generally defec-
tive; in fact it is the very of shin plaster
DOM particularly outside of the city of New York.
In the city or great financial metropolis, so-called
or recognized, they have system and mode of
using certified checks of the various city banks and
it is presumed Of the country banks also, which
answers in nine cases out of ten for circulating
medium, that is, a bastard currency. There will
never be a sound system of banking until the laws
of the several States adopt the mode and form of
our local reports, we return to them with the re-
mark that all persons, travellers of whatever nation
and of whatever State country in our great con-
federacy, coming to New Orleans, can rely on
having their funds or the currency of their locality
exchanged on Camp street on the most reasonable
terms.
There has been very little doing in American
silver coin this week. A great contrast between
the present time and last year is of the features
| of the week.
The receipts of Mexican coin and bullion have
been light. Dollars are readily purchased at 1850
/ 1851. 1t is extremely doubtful whether the next
/ steamer from the Brazos will bring the usual semi
weekly supply. Matters are rather unsettled on
the Rio Grande, yet it is hoped an ameoration Will
| be announced at an early day.
/ Land warrants are offering freely, and rates are
tending in favor of buyers, without any important
| transactions being announced.