New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-04-28

1 The uncurrent money market Is in q very quies
cent state in fact, it has been very quiet weeh
| with the brokers' All the issues of the banks Of
| South Carolina and Georgia, which we're floating
over the country during the cotton picking and
bang, have performed the purposes intended
that is, to facilitate the shipping of cotton at the
expense Of those planters who may be short in the
early part Of the shipping season. The same course
will be pursued next season and prohibitory laws
may be enacted by State Legislatures for suppress.
sing all issues of banks under twenty dollars, but
what effect will they hayey People will receive
and pay out bank notes long it is for their in
terest. No man having anything to dispose of is
obliged to take bank note. But in the very States
which have from time to time been conspicuous for
hostility to paper money through legislators, say
Arkansas and Mississippi, are the very States in
which bank currency or money is most coveted.
In fact the banks Of New Orleans could in week
extend, if they disposed, their circulation in
the above States that is through the system of ad
vancing and lending on the part Of factors and
merchants to the amount Of four or five millions Of
dollars. So much for 8; war on a good and sound
paper system
In st. Louis, Louisville and Cincinnati the pres.
sure in the generalmoney market continues. From
the many reports of the large" yields Of the
Pixies Peak mines, it would be supposed there was
a great basis for a sound currency in the North
west. The last adviees from St. Louis state that
there was scarcity of gold in that market; that
it was / prem. above bankable funds. From all
we can learn. the United Statea Sub Treasury at
St. Louis is something Of brokers' office. II the
Treasurer is exchanging government drafts or
Treasury orders for gold it il something astonish
ing that the bankers and merchants Of St. Lous do
not adopt some rule, some standard for currency
We hear of gold, bankable funds and currency.
Our suggestion is to throw overheard all the stuff
and trash called bankable funds and currency.
Cannot the banks Of st. Louis conduct business on
system approximating that of Louisiana. Our
banks never have occasion to make these distnc.
tons, because there il only standard reeognz-
ed. They never receive the notes of distant banks
on one side of the counter and pay them out on the
other, thereby encouraging the currency or bank
able funds, which forms 80 prominent feature in
the daily transactions and movements in the st.
Louis banks. If the banks OF New Orleans were
to follow the course pursued by the Missouri
banks, they would very speedily approximate to
what are termed shaving aud specializing shops. |
alias shin pasters.
In land warrants there has been very little doing.
The homestead bamboozng bill, il regard to
the public DOMAIN, will undoubtedly pass and will
greatly influence the warrants issued under former
acts of Congress.
The imports of coin and bullion this week have |
been light-no change in prices. American silver
is uader moderate supply. The brokers and
dealers bny over the counter at a2et. dis, and
sell at 4@par. The supply is light.
We append our usual weekly quotations of coin
and uneurrent bank notes, being those of John
Wood Il Co., Camp'street