New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-09-23
Hin WrIsans ggrlsE NIarktt.


oxrscrr. oryycn No. 70 Camp street,
THURSDAY Rvsnine, Sept a tssaS
II - calm md oujst IN uoneed circles to-day. The very
~ vss,her vas topic for remark with this late rain
usosrs d believed shas spe Of dry weather cannot be
oahsrwss thsa favorable for the cotton now being gathered
md which sprss y coming to market In great prouson
that IL n sussss quantities 10 relieve all approximations Of
ssy rsrdatss 70 supply the quldsss obligations
lassd On crop Of 1870 Though hss receipts OF the
sapls Rsd vsr and adjacent thereto shove Alexandria
psssnsd that there u very little paper from tta
se q the country maturing before next spring. II thsre
so Who have assumed large responsibilities bassd COT
sm Northwest Louisiana and Eastern Texas to b In
market bsrs February and March then they have
rather imprcvdsn aAd hope they have SUFFICIENT
sst any delay In ressp Of that may and
which has on been the Of les pressure on
general money Market The facilities for anticipating In
the Of d,counts banks mot contracted but
known how long before they b. the Tres ury De-
pamcut Washington follows the transfer system - 10
tailed below The sales Of paper the street to-day were lev
and far between Spring paper choice placed At
sSk Hct There also transactions at Do Nes, ana
still further at lo@l2 even Is ct is presumed
that buyers paper l5ls pct think they mnss i've - well
% other people
The most feature to-day The Exchange market
II "a, manifest that had the call In all and every kind
Of exchaugs rats fer checks on New YORK the
banks wss Uniform and ateady At prem Double Al
outside considering that some things coud be dore e
- veil a. In other adunc Of trade knocked the rate
10 sight though this figure did NOT rule In general
to day There were sales Of three days ssnt
ct ave days sight Of other names at the same ngue
n time bills the sales were for sixty days sight At ll
down act dis for good fair bills though there were
two round sums amounting - $4,000 passed at ~ discount
These figures exceptional and # Is useless to quote higher
than ~ choice and good sixty day drafts % ~
ok dis In foreign bills there were some transactions.
Clear Sterling was at 1924 and some at 1924 We
ouets from 0lce up l9 Bills Of lsding are under
supply Transactions entered into at c which
declins some eavors names in small sums
were taken a se this is extreme outside rats How
s,er The supply Of bills scant Francs
t,ksu ii ki6 at5lSA Paris direct and then other
points, laysble in Paris at from 5s395ls. Supply Free
In Stocks Bonds there few movements to-day
The only head Of 70 shares Louisiana Stats
Bank at tho high figure Of 1856
It general received opinion that the opprssons Of
teneral LEGAL monetary AFFAIRS
exchange dealings specie 81 banks
had done awayhat the massive of the Trea
sury Washington City would not be used for in
uring depressing checking the active of
banks and their general usefulness to commercial and
agricultural interests Since the installation Of the present
Secretary Of the Treasury r Cobb have had secession TO
appove applaud Of his actions and decisions We
end aelled to dissent from some Of bis move
rsn decisions particularly the recent financial move
whereby banks cooly drawn for ono hundred
IN gold meet transfer OF that amount from
one Of the Sub to the Sub o.
which coin Of the vaults of our local banks
which they had been put she cost Of pct for import
ing from their debtors.
II Me- Cobb has again reality commenced the issuing Of
of another 70 accommodate one or two
large private exchange deers and oper he ought TO give
public notice. banks be prepared and they through
their executive off roy their patrons and customers OF
the Of the General Government 1t must not be over
looked that banks OF Louisiana arc conducted under laws
and statutes Of stringent character They he bank
do not regard proceedings the other banks
in the Uned States They all times In readiness to meet
contemporary institutions but when the Treasury Department
General to playing the broker and
with finance to pause consider where they stand 4
be deprived Of con and their specie en-
coached through the action Of the General Government
inquire for what purpose the indie
pendent Treasury Of the United States organized Can be
called Independent Treasury when it descends to ke petit
Jogging of the pu Of hundred thousasd
Nav York to New Orleans to the ring sum
FIVE hundred dollars When the Independent Treasury act
became law it was the opinion that when
wanted transfer It's coin it would do In conformity
requirement Of the statute There is nothing in the act
sanconng Mr. Cobb tho Treasury Department to issue
draft compelling banks to place in the hands of the Assist
Treasurer Of the Mint of this city for and
the injury Of banks such and sach of COIN which,
banks had to foot The intent and Of the
creating Independent Treasury that the United
States should be free and independent of all
money. all representations Of money, either by drafts
ether shin lass This has not been carried outour banks
have from tine been compelled to assist the Treasury
IL not directly, then indirectly.
We are led - make the fact that within
from New York to the Assistsn Treatu of the
Up cd States this city Of the transfer system
hat exchange dealers New York have agreed to
place credit OF the United States, in this city @
Of expense which amount has been drawn eu of the
vans banks the prejudice of local.
planting nterets; Whereas the intent Of the
,ct creating this Independen Treasury had been fol-
owed this gold should have been sent from New
where collected debts duo the General Govern
nsa Its constituted officers in this city to meet the debs
aov IL
i've or ten per Instead of that General Govern
nen through Its delegated officers descends to the trade Of
and broker
Every dollar the vaults Of banks required to
lid and assist in moving the produce Of the country which
here to distant markets. Last year our banks
put expense of importing So gold to meet
OF This amount with the regular
uppes through the various channels Of it was sup
would be ample meet the wants Of the trade this sea-
But this natural supposon Is checked By our Treasury
entering market seller Of exchange trans
Or Of II banks be depleted in day of
in gold through the action fundamentally Of the
eereary Of the Treasury at Washington what is to
being called for million dollars which
o oneha per to place In their vaults to conform
bank acts.
II sincerely hoped Cobb will reconsider the
is department sppears to have assumed.
Information Of the Treasury Department at Washing
on We that every dollar OF coin in the vaults Of
banks will be required the products of the country
large market that blow struck at the financial
on Orleans rebounds and reverberaes vast
Of country II had would extend
nks and prove the satisfaction of the Secretary of the
treasury his in becoming involved with exchange
and brokers in the transfer from point to another Of
funds direct violation Of the creating the
sdependent Treasury We trust that the issuance
drafts will be discontinued and that the government will If
oasb conduct financial transactions independent Of
hange Dealers brokers and shaves general conue its
and purposes Of the creating the
Independent Treasury. e.
8ebiem Of tte Narkets.
CRESCENT OFFICE No. 10 Camp street.,
Friday Morning, Sept. 81 1882
COTTON There emily moderate demand yesterday,
nth sales of about 4o0 bales without material change in
rices:
NEW ORLEANS oLAssIFIcAT1oNs.