New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-11-29
Is Il '71 ~ 7lIl "a, y Z, q IA /,
s talk on CHANGE.

~ ,aavssaenss cn Csronielet street yesterday,
t,ossxA aotiys. wers not to the extent Of the day
b,5yTs The weather WAS not altogether favorable
NJ tze usial gatherings and conabs. The shipping
i1tofnsf appears to be vel represented on the
4 asrss aroagh owners in person, captains in COM
YsSzs6 AGENTS and brokers to do the running about,
as 3he snbs til carry out the contracts and agree
aneiiiz Shippers, 0f course, must be consulted
Nous and MeH. II ID something Of interest TO OBJ
serye rom fifty to enc hundred captains on the
Ill.,. a HEY congregate Informally caiIy, Some
oil thesn anpear ii be extremely well posted up
ahusst Gotten and it, yield they can figure up and
figure away equal 10 the best mathematician, par
tiouiarly about sd ut this time. Although we have
soodiy addition 81 tonnage TO The quantity in
poft laat week, there i not much prospect q an
increase for the present.
There u Vi some talk about the selfconstisuted
Board 81 Currency III New York Issuing its mani
fasso III regard d the present crisis All extract
from ihe aains viii be found under our financial
head WI lire asked fits possible that our former
fellow citxen, Matthew Morgan, Il identified and in
oouolave with some Of the most noted Black Re-
pahlicans d the North. supporters Of Lincoln I
VIZ iiiii MF. sforgan's name associated with these
elaenliss Ii the South. and as Mr.. Morgan's house
ID wall street. iii. Morgan & Sons) ii the agent Of
fwo of our banks, ii Ii suggested that Mr.. Morgan
oszfs ii clear himself 81 the charges and explain
how ia got into such bad company. The report of
this aacalled Roxrd Of Currency taunts and sneers
I'll 4hs movement ID the South, ii about The same
sfrsii VI tise viest Of the Black Republican news
papass. Tflis will not answer, MI. Morgan you
have l,ocketcd too much money, accumulated too
many sains ID this very city of New Orleans to
tske psrt iii tle crusade against it.
Ii 81 nszifsst thas the New York movement win
cnsI Ii nss nothing. AS soon IS gold begins to flow
s0ath, there viii ba another disruption ID ex-
change. ind unless gold arrives from England,
thesa VIII tie another dead lock in the New York
Market Id anticipation Of this, there he's been
sonap private talk among some Of the frequenters
n WI fsgs; that ~ cotton il our basis of value
md prosperity III parties are interested 10 prevent
ts depreciation. that i, except some buyers Got
ton has bern shipped lately under advance for
account 81 planters and advances received thereon
from the Agents oI foraign houses. Sterling ex-
change has bsen taken BIZ the banks drawn against
this eotton. The planters win lose 53ot. Of the
ordinary pur of xehange, or say his cotton
goss At one cent II u less,
II ii talked Of II all the banks were to appoint
committee, such Of them as deal In foreign ex-
change, ID have J committee say Of three factors,
with committee from the banks, to present their
lists; these committees 70 value tile cotton, take
control Of shipment, take charge Of Insurance and
other i1sidental requirements, and in transfers
being made, rs vet nore OF less) to be advanced
in certificates nj scrip of sums Of $500, $1,000 or
more the banks TO receive these certificates in
payment nf Dues notes and obligations which are
ii their portfolios 1t wonld prevent many snspen-
sioils, In the event Of The cotton market coming
again 10 dead halt and save the portfolios from
loss. tWould prevent The sacrifice Of produce, and
Id d great measure protect many interests which
night aud Will otherwise suffer. Arrangements to
Dc made In England. which can be easily done, SO
that flie cotton, when placed on the market, shall
not be sacriieHd The credit Of onr banks would
auatain she operations, and carry the transactions
through smoothly. The proceeds of the cotton to
DO returned in gold as there is no probability
Of exchange ruling In favor Of England hnt the
Antire proceedings would and to be subject to the
committees Of the banks and factors, though after
d bank received the certificates Of scrip it would
await the action Or sales Of the cotton. If this
could ba arranged 50 IS to meet the requirements
nf the bank statntes, well and good, as such GER
tilcates Or scrip would have to be recognized as
bills receivable, and be applied perhaps to the
active movement.
II some snch plan could be adopted and carried
ont itwonld Influence all the cotton from Memphis
hitler much d held back there for the present.
The further talk Ii that many factors have advised
their planting friends to hold back their cotton
until d change takes place. y Is presumed this
pnIy applies u those who are ont Of debt and re-
ceiged no advances, Of who have sent forward
sufficient to meet the advances made during the
summer.
II Naw York folks can issue vt 900 900 or 81, o0O
00o Of scrip, based on stocks, deprecated bonds,
and what not, which will pass as money in Wall
street, w can in New Orleans raise equally as
much, based on something much more solid. By
Introducing tic system as here talked Of, We would
be receiving the gold direct by steamer and ex,
press for our cotton in forty to sixty days after
shipment. The certificates would be Cancelled by
each special transaction. In all probability there
will be another pause III our great cotton market
There Ii no dependence ON New York they ara
too excitable, and general negotiations may come
Ia lock again. Though there are parties here
dealing and operating in exchange based on cotton
vet exchange may recede to d much lower point
Qlsiez sabeg Isit not well enough to be preparing
for a littla direct trade
We want the contemplated line OF steamers or.
gauized ct once between this and Liverpool. il
appears the terms Of subscription are more favor
able than talked Of In oar last The shares are
Gle deposit Of emily FIVE dollars per share is re-
qnired after sufficient sum is subscribed and the
shares allotted, not before. II the company ID no
formed no deposit i required, no money expected
The European mails by the Africa came through
Ia part yesterday. The private correspondence i
On tie $3.50 order-great discretion allowed il
some orders but money i tightening on Thread
needle street. A further advance in the rates D
interest may be expected on the part Of the Banl
II England.
GIosING oF THE INSURANCE OFFIcgs TODAY
The Board Of Underwriters give notice this morn
ing that all the insurance offices comprising thii
Board VIA close their Offices to-day at II O'Clock
Al, NJ. il being Thanksgiving day
ATTENTION Contrary Al, MINUTE MEN--A meet
Ing for drill i called at the Armory Hall at
o'clock this evening. Be punctuai
GaIRann's CORNER CsorHlNG sroRE,-H How any
heds with be ah @e reading s Gsbbles advertisement thi
iHenins so paea hts liheui stepping and make
pafehsse soss en- prinepls
pssae Should knes ss#esls shat he wheA be