New Orleans daily crescent., 1860-08-27
Neh Orlsans 1ailp Crescent.
FINANCIAL AND COMMERCIAL DEPARTMENT
NsD 0rIeans 1tonsp TflarAet.
CREsczST orFrcE, No. 70 Carp street, ,

Saturday Night. August 0.{
The most important feature in the financial mar
ket for the week now ending has been daily aug
mentation in the supply of money outside of the
banks, causing reduction in rates of interest on
some grades Of paper-A1 fully / yet. The sup.
ply of such favorite paper is very light The banks
have done all the good paper, though in many in
stances the calls have been excess of the income
The receipts of the banks are however, light
In general trade circles the stagnancy Of summer
OF of the season still has full sway. Our wholesale
dealers and jobbers are doing nothing beyond
filling few orders for plantation uses and prepar-
ing for their fresh supplies, coming and expected
by every arrival from the North and from Europe
for the coming two months. In the local and fancy
trade, that is the general retail trade the sales and
transactions have been on the fninitesimal scale.
1t is the impression that in lieu Of making expenses
about this time, the sales per diem for cash will
barely mere than cover the expenses of some of
our dry goods palaces and fancy stores. However
the good time will be here before long, and the
present duness and inactivity be quickly forgot
ten. In the meantime, it will not be out of place
| to continue our suggestion, that the demand for
short of last season; that the country connected
with our emporium will not be in that fourishing
position as to warrant large expenditures. The
Indebtedness from the country to the city is large
and in all probability, instead Of being curtaiIed by
the proceeds of the growing crops, some sections
will require further indulgence, which, of course,
will be granted through the liberality Of our fac
/ tors and wholesale trades in general, when it is
| Al,
short her favors, through the effects Of the drouth
| and other vicissitudes of the season.
The movements in cotton for the week have
been Of service to the general money market The
sales for the commercial week reach 5000 bales,
against 3, 400 bales for the corresponding week
last year, and 1000 bales for the same week in
1858. The sales Of tobacco for this week reach
only $50 hogsheads, against GO hogsheads same
time last year-rather light transactions. The
award of the Spanish Government contract is ex
pected by the next mail-the Araba-from Liver
pool, though if the contract was not given out till
the 14th inst, we shall not know to whom it was
awarded until the arrival of the Africa of the 18th
say.
IT is currently believed that very low tenders
J have been made, and that the contract may prove
3 anything but profitable one to the recipients.
An active business is still going on in mechanical
8 and industrial branches Of the great compact
Builders, artisans mechanics and aborers of almos
! every branch, are under full employ in our empo
) rum. Large sums of money are disbursed weelIl
by our large and small builders and contractors
and they who live by the sweat of their brow car
! not complain for want of employment. Every il
5 diyidual that can and will work will be fully con
z pensated and paid promptly in gold or silver, an
: not in one, two and three dollar issues Of papt
70 manufactories-the spurious representative of
sound currency paid out in all Northern cities al
il towns on every Saturday Of the year.
Is The return of the banks to the Board of CT
d. rency indicates that they are moving on in t
az same course, pursuing the same system which ha
characterized their movements for the past thr
months; they are discounting, as they have bee
to the full amount of their income, not changi
their line Of discounts, but merely following t
immutable laws of finance, in conformity, or
re regulated by our statutes. Our banks being reg
to lated by laws and statutes conservatism, as it
~ called-is never regarded by our bank manager
: they move according to their daily position al
4 condition.
. The statements made to the Board of Current