New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-03-05

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The press at the counters of some of the banks
was large, through the entire day one President
turned 70 assist the teicrs in the capacity OF re-.
ceiying; the constant and continual thronc going
in and out through the day denoted most exciting
and busy time. As there were no suspensions no,
no falterng IN the meeting Of obligations expected
nor anticipated, we have only to remark that the
commercial escutcheon of our city, our flag Of
finance, proudly waves without blot or tarnish
4 Id the various branches Of trade the week has
been attended with briskness and liyeliness, not,
however, beyond or above the corresponding week
last season. The only falling off, really worthy of
mark, has been in the great staple, cotton, the
sales for the week having been restricted to IL
bales In sugar there have been sales to the ex-
tent Of 1900 hogsheads and about 10 900 barrels of
molasses. The sales aud transactions III Western
products have been confined to the regular annual
demand for Alabama, Georgia, Florida and Texas,
with an apparently large Increase, but which we
believe is really for Northwestern Louisiana and
Eastern Texas as it Is manifest that more attention
Is gwen IN these sections of country to the cutiva
tlon Of cotton than to raising corn pork and bacon
IN laet the Northwestern States, including Ohio,
could not subsist if there was no market in the
South for their produce.
IN me wholesale and jobbing trade--coning
within dry goods groceries, hardware, crockery. |
etc,-business has been lively with large sales,
ana the principal sidewalks have been made use
OF as temporary warehouses. In fine, when we 20 |
on to Tchoupitoulas, New Levee and Front streets
we conclude that the press of business compels the
sidewalks To be used for permanent storage Of |
heayy merchandise. 1t denotes, however, that the |
trade of our city is steadily enhancing.
Inc retail dry goods, millinery and fancy trade
IN general, have been well patronized this week.
There does not appear to have been any falling off
on the grand Boulevard Canal, Royal and Chartres
streets The spring time of year has arrived, and |
we must expect that many temporary soiourners
among us, planters and farmers will be called |
nome to attend to the seasons requirements for
the great crops which are 1--WE hope) to be raised
this year.
as before animated, the general money market
during the week has been active The banks have
neen called on from day to day in the way Of dis
counts and to purchase exchange to the full extent
oil their resources, and have met the requirements
to the full extent of their income, and in MANY in.
stances going beyond. They are all in good work
ing position, and though the income has been in
the aggregate large, nevertheless the surplus at
each bank has been very moderate Although the
banks are in good working position, they cannot in
the face Of the low line of specie reserves and in
the absence of coin importations be exnected IN
expand or increase the line of discounts and loans
wfleh now approximates ssl 100000, the largest
amount since the time of $50 900 900 in the years
1910 10 ls4o. not very encouraging feature
s.riAes " - Ihe pank return, which is the large
amount OF paper which has been paid into bank
since the first OF January with sales and returns of
cotton to an amount beyond all precedent with the
iine 81 discounts steadily increasing On the first
OF the year the total amount of discounts and loans
was s5o, 5ol 900, and we are now entering the sea-
son OF the year when facilities and discounts in
long paper are most required to aid and assist in
the developing of new settled lands, and to extend
the cultivation of our great staples 1t is manifest
however, that the position of the banks will re-
strain them from any increased accommodation
beyond what may be paid them from day to day.
As Iof the movement and expansion on the part of
seven banks, which are working under the law Of
1888 and 1855, it is as plainly perceiYable as that
the Mississippi river flows by the Crescent City
That they are to the extent of their rope, and un-
less they are relieved BY the present Legislature
from some of the very onerous restrictions under
which they now labor it will be idle for the public
(he great planting interests) to anticipate aly ac
commodation Or advances beyond the limit Of 90
days. and these advances discounts will be con.
lined to the simple amount of daily income.
The weekly return of the banks to the Board of
Currency this morning presents the following
changes: