New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-02-16
VOLUME XII.
Neh Orleans Daily Crestent.
THURSDAY MORNING, FEBRUARY le. 1860.
TALK ON CHANGE.


TALK ON CHANGE.
Though the congregations were numerous on thu
streets Yesterday, yet there was something OF I
lull in transactions. The intelligence by the Bo
hemian was talked OF, and there were, OF course
many remarks pro and con, whether cotton vii
maintain the last quotations or whether it will re
cede The advance in the rate of interest by the
old "Grand Marin Y has taken the public by sur
prise. There is some stringency in financial circles
In England the demand for bullion was great. The
private intelligence indicates that the draw from
the bank was large previous to the 2lst January
and the advance from q Sact. to i2ct. was re-
sorted to to check movements iii bullion It Is rea
sonable to suppose that this advance had not the
desired effect and that the drain still continuing
and with increased demand, the further advance o
get. was made; that is, from T}ct. to get td
counteract bullion operations In the meantime
this action Of the old woman creates no fears OF
our flags. Cotton is King as yet, if Victoria is
Queen. The Bears, however, have something te
talk about. 1t is supposed the abolishment of the
tariff or duty on cotton in France will aid Arneri
can interests. Not at all 1T will enable the manu-
facturers in France to compete with those of Great
Britain in other markets; but there will not be
bale more Of cotton sold in the Empire. The duty
so much talked of, which the ruler of France has
found to his interest and that of his subjects to
move, was three dollars and seyenty-two cents Oh
two hundred and twenty pounds or Kilograms
that is something within fraction of one and
seven-tenths of cent per pound. We have moi
received the edict removing the duty, but presume
it viii be carried out, it is plainly perceivabe
what the nephew of my uncle" undertakes he
will carry through.
While talking Of cotton and the vast and yearly
increase of the trade Of our city, the very great
Importance Of line Of steamers to run between
here and the great town Of Liverpool is brought
up. The following figures comprise the estimates
OF receipts Of six screw steamers: First capital
92OO O00O or say 81 100000, 10 build six ships, with
lifting screws, each of 1900 tuns register 500 horse
power about 255 feet in actual length, % feet hold,
drawing, when loaded, about l6I feet, full bark
rugged, and to carry from $500 TO 1000 bales OF
cotton. We will, in our next or subsequent num-
berE, tell of the cost and other expenses. and the
earnings, which are computed at "a l9ct. per am
mum. We think those who invest in the stock will
be satisfied with II or l5 get. returns It is safe
to assume that by having direct communication by
steam with Europe, hundreds and thousands of
travellers who now yearly go to and fro via New
York, Boston and Canada, would take these
steamers direct. Wehave several merchants who
import from Europe every year, many win New
York, whose merchandise would come direct, If
there were means Of speedy conveyance and early
delivery, such as would follow tile establishing Of
this line Of steamers. Moreover, in all probability
there would be very large shipments and consign
ments of merchandise, dry goods particularly, on
European account, direct to our merchants, the
same as are now made to New York and Boston,
All that is required to share some Of this business
which now centers in The above places is line of
steamers trading direct between this great en-
porium and the great market of Liverpool. We
shall have some further talk on this movement.
1t is hardly necessary to talk of the weather yes
terday. as every one was satisfied with it. The
arrivals Of steamers free all bringing full loads
The levee is crowded, and the cotton presses and
warehouses and many streets arc filled to repletion
with tic staple. We were in hopes we could have
talk without alluding to cotton It is impossible
the King rules supreme at this moment, sustained
by the largest stock Of the staple ever known in
our commercial history. The risks now subject to
our local insurance companies can be counted up
by millions of dollars. Insurance must be a very
profitable business, as two Of the local companies
have already declared, notwithstanding the large
losses of lastyear scrip dividends of 35 and 10 Sct
another will, next month, divide between so and
so Get, and it is supposed this will be followed
by other companies to the end of the season. The
talk is, that our local companies ought to divide
and issue scrip in sums of five dollars which would
inure to the benefit of small property -holders, as
small risks scattered are generally deemed more
profitable; though possibly it is out of place to
talk of one thousand two thousand dollars risks
when ten or twenty thousand bales Of cotton are
under consideration Yea. cotton pays 4; it is soy
ereign and rules supreme in more ways than
through insurance.
The accounts from the mouth of the river give a
very light stage of water on the bar-aternatels
rom day to day for this week from fifteen to six
seen and half feet The ship John III. Mayo is off
,he Southwest Pass, drawing eighteen and half
eet, after having failed in crossing Pass lOutre
Nature never made more than sixteen feet at the
Southwest Pass, which was ascertained by the ship
William Brown, in the year 1s26-thirty -four years
,go. So the mud Jumps, SO much talked Of, are
I'D acquaintance in that channel The William
Brown was ship of the largest class in that era,
hough she only carried sixteen hundred bales
lotion on about sixteen feet draught.
There is something of a revolution going ON in
he mail service. The mails from New York came
through yesterday, although contractors have not
.eceiyed their pay, the Post ofice appropriation
bill still hanging fire before Congress- No veto
on appropriation bills have come to hand
ADJUSTMENTS LAST EVENING.
A tremendous house honored Mr.. Couldock's
benefit at the Yarieties and was well entertained
with both the serious and the comic drama. 1.-THE
Advocates Last Cause" with Mr.. Couldock as D,t