New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-03-20
Ns6 Orlsans 4aiIg Grssetnt.
FINANCIAL AND eoMMERCIAL DRPARTMRsT
Neiu Orleans Mloaeu Market.
csEsckxT oYyrcg, No. 70 Camp sssse-
Monday Evening, March 10. u

csxscssT oyyIes. No 70 Camp s.sss..
As usual on Monday, It was exceedingly qniet
to-day. The calls on the banks diseounting to-day
were, however, Iarge-very large, we may say,
particularly down about the southeast corner Of
Cont and Royal. The discounts were free only
about one-third Of the offerings being rejected,
winch may be considered as doing very well, as
some Of the offerings were of paper beyond 100
days, On which Q get. interest can be charged,
therefore parties throw in a good assortment-a
good pie and II they get to they are generally
satisfied But, then, there is the moderate trader
The mechanic or artisan, II he applies for d;s.
count with only solitary piece Of paper. ia is 90
citation received with the same fayors We "a. |
greet to say that in many instances. such annlca.
tons are passed mot passed, declinedl. and
the applicant is compelled to seek the aid Of tbose
estimabe gentlemen who take pleasure i'm helping
people out, particularly If the time Of day should
be about Is to 30 minutes of 8 o'clock. with con-
timed accessions to the stocks of produce, the
basis for business continues free; yet there is no
accession to the specie reserves of the banks and
the season is now so far advanced that we need
notebook for any importations of coin. We may
have, and shall have, weekly receipts of silver;
is coming from Mexico freely, and the same com
modify as wool. For instance, lot Of Mexican
lead and lot of Mexican dollars and bullion were
both on the market yesterday; the lead sold for
sc. y fb, and the silver bullion and dollars sold at
81 222 q OF. There were also bales of Mexican
wool, which would make that there were three i'm.
portant productions, and they sold for just what
operators, buyers and sellers could agree on.
True, there is a standard and measure Of values
which is called gold, and regulated by statutes
but there might as well be no regulation by Con-
gress, because the products of the great gold
mines, when offered as dust or Jumps, are merely
controlled by some few figures delegated by the
chief director of the United States Mint at Phila-
delphia. There, what is called money is q COM
modify worth just what it will bring, which is CON
frmed by the enlightened wisdom Of the State of
Louisiana, lately in session at the capitol, which
has enacted law relieving money or paper of its
cumbrous charges-that il, bargains and agree
ments fer interest at any rates Of usance shall be
legal. Owners of money, capitalists, banks and
bankers can now adopt general sliding scale of
rates. The law in question repeats all previous
acts and laws. We shall publish it, when we OBJ
tain copy as approved by the Governor Taking
the law or act as it passed, it viii make no differ
ence to private capitalists or dealers in paper nor
will it have the least influence or effect on the gen
eral money market. Holders of msney obtained
all they could for its previous to the repeal of
the restrictions which the law intends to remove
It will not make the difference of chew of tobacco
in regard to regulating interest, in some close,
technical contest, in case of suit being brought
for the principal but suits and contests of this kind
are so few and far between that they are not wor-
thy moments notice. The only benefit to be de-
rived by the law passed is, it will allow some Of our
banks to adopt sliding scale of interest-that is,
make the best bargains they can with applicants
The general Exchange market, as usual on Mon
day, was quiet There were sales Of sight drafts
on New York at par for good and premium for
double Al. The counter rates at the banks were
uniform at prem, with only limited demand !;
in fact, it was dull at the counters to-day calm
succeeding Storm as it were, after the large de-
mand winding up last weeks business. Neverthe-
less, on the street the movements to-day were
slack. In Time Bills there were some limited
movements at II for choice to Ia and IL for good,
II and Il for fair sixty day sights on New York.
In foreign there were several transactions at 1914
for good Bills of Lading, and 10st@10s4 to 10Ss@
1854 for good and choice Clear Bills; small amounts
higher, even up to 1889 for remittance. We quote
from 1914 way up to 1881, which includes almost
everything coming under decent Documents to
fancy Clear Bills. Francs are not 80 very plenty.
The sales to-day were at 52325. 1s2, general cur
rent rates for good commercial bills, making ex-
| treme rates from 5.25@516I.
The Stock market was very quiet to-day. There
were some negotiations astir, which may lead to
contracts or treaties. We note the sale of liz
shares Citizen Bank Mortgage Stock at 81 prem.
This has nothing to do with the cash or banking
department, which is held at 2.45, or above.
The money article of the Missouri Democrat OF
the 18th inst. says:
Business becoming better in general
ing opened the institutions country
bringing and felt in everything except
There Exchange had SubTreRsury some
bought from country bankers who in want gold
The supply small but the regular selling in IL
discounts pay l Some Of the banks redeem their
branch in Exchange and do not hear of
though this week the Farmers
Bank Of Lexington for redemption
Sight on the South Is steady A. prs selling Both bank
is bought at 3s@s4 dis, and sold at Il dis.
The Exchange on the South alluded to in the
above is presumed to be New Orleans Exchange,
as our good city has to stand the brunt Of the
great West, the same as New York has to stand
the whole country.