New Orleans daily crescent., 1860-12-19
Us6 0rlsans lailu Grsstsat.
FINANCIAL AND COMMERCIAL DEPARTMENT,
Hen GrIsaus NIouev Hlarktt.

There was something Of an improved feeling OBJ
servable to-day in noneyed circles. Cotton, the
basis Of operations, was in good request, but the
request or demand was met by enhanced rates on
the part Of factors; nevertheless there was fair
business carried through. The movements in and
about the banks were modesate in the way Of dis
counts, but more liberal in the way or exchange.
The demand for discounts at some Of the banks
continue on the pressing order. Some new dis
counts are daily granted, which, with the daily in-
vestments in exchange, go good way towards re-
lieving the money market, and assist in moving
cotton. The paper market is non ea for the pres
ent.
The policy of suspending specie payments by the
banks Of Baltimore, Richmond and Philadelphia, is
now being developed by increased stringency in
monetary affairs in the foregoing named cities.
Specie has gone, the banks redeem nothing, bor-
rowers are numerous, capitalists and lenders few
and far between. All the foregoing eities are
pecuniariy in blight, haTing sacrificed faith and
honor with the hope Of temporary relief from the
pressure of the crisis. All the banks which have
suspended coin payments, say the banks in St,
Louis, banks in Tennessee, banks in Virginia, banks
in South Carolina and Georgia confirm the oft-fe-
peated expression that the banking statutes Of
all these States are weak and inefficient. The Bank
Of the State OF Tennessee we learn, still continues
to work under the system of coin payments. The
banks in Kentucky hold out, but they are dealing
largely in paper credits one way or another, but in
no place on the Western continent could the liabii
tiles of a bank be paid on demand promptly except
here by the banks of this city. True, there is one
bank in New York Che Chemically which could
comply with such demands.
Specie continues to flow into the yanlts of our
banks, and will continue to flow towards us; and
though some people think it will ere long take the
back track, it must be taken into consideration
that the indebtedness of our community must be
considerably increased before the gold moves out
ward. Should our banks be so unwise as to ex-
pand to the amount of five or six millions of dol
lars we might expect coin from their vaults to fol-
low rapidly such expansion in fact they would be
depleted by Northern cormorants. That money
will be abundant this spring with us there is not q
shadow of Doubt. There will be very few millions
of factors acceptanees issued. Instead Of $3.50 000
600 of commercial paper being set afoat this sea-
son. it is doubtful If there will be s25, ,O00, 600.
Capitalists and lenders Of money can be prepar-
ing for light balances to the credit of their in
| terest account for the season of 1851 (the re-
newas and continuances of the obligations of ls60)
will be arge because there has not been sufficient
cotton raised or realized from the planting of 1860
to the paper already afoat, and which is now
being renewed for another twelve months; some
by paying 10 to 20 Oct; others from 80 to so 5sct
and some perhaps none at all, or not more than 5
get If there is any room for more than s25 00O,.
| 600 of new paper to find market, we should be
| glad to have it pointed out to us.
| The general Exchange market was not quite SO
active to-day as yesterday. Sight on New York
was heavy, and sales at ll0la discount for good
drafts were only carried through by great exer
tons. Three days sight l51lf discount; sixty days
sight tgood) 4Dll discount. Other bills deemed
| good at from soc get discount, with something
very nice being taken at 3At@34 discount, but thest
figures are not quotable. We should like to knoY
what Investments in produce will allow sac Saci
discount on sixty day bills on NewYork! Sterlin
was frmer-a fair demand prevailed for remit
tance, which was supplied at 1c09@l0l5 and l02
Dealers were buying at all sorts of prices from Us
up to 81 and 80. Document bills ruled from 9461s
up to 97. AT these rates good profit will be real
lied, provided and SO forth. Francs went alon
with the current, and were taken at 5.S5157O, wit
some sales at SCH.
Stocks and bonds fat, as they will be. The Ga
Light Company makes its usual and regular divi
dend of f8ct. There will be no dividends passed
excepting at one or two banks, unless somethin,
extraordinary turns up.
Comparative condition of the Banks of New orlean
four years at the dates specified about the mddl