New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-01-14

Union insurance Company Good.
Hope Insurance Company, last sale. $50 fnr $50 paid
Louisiana State Insurance Company. Good.
The uneurrent money market offers very little
for comment this week. The advance in Northern
exchange has strengt Iened the rates for distant
bank notes. Dealers are not paying any higher
rates than last week. There hare been no receipts
of silver coin or bullion this week. excepting a few
thousands from Vera Cruz. Tile steamer hereto
fore engaged in tile trade between this city and
Vera Cruz has been withdrawn. The receipts did
not approximate the expenditures. As for postal
returns, they would scarcely pay for pilotage Of
the vessel. Some small sums of Mexican dollars
have been placed on the market, and taken within
the range of our quotations. American silver coin
is scarce. The offerings are falling of each sue.
eeeding week-bfokers and dealers are allowing
aa55 for the moderate sums offering. 1t was not in
tended by the supporters and advocates Of the law
Of Congress, in establishing branch minis, that they
should make quite SO large a profit as 52et. or
thereahouts the coinage of silver, that is under
the present regulations OF the Director of the U S.
Mint. All silver coin and bullion bought at 81 q
" or, and paid for in coin, authorized by the act
OF 1853, turns up in gain Of pct. to the Govern
ment. Through the entire West there is a great
scarcity of small change, which has to be and is
supplied by the small notes Of the one thousand
and one banks, which would never have been en-
couraged nor brought into existence II the restric-
tions OH the purchase of silver particularly through
the Branch Mint of New Orleans, had not been is
sued. The volume of silver coin thrown into cir
culaton in the great West through the channels of
trade via the great Mississippi. would have formed
a strong basis for the currency now passing as
money, and been the means of checking the daily
and weekly emissions of the trash, or lamp black
and rags, otherwise called money, though the arts
and sciences have been called into reqnisiton to
make the engrayings as pretty as skill and talent
combined can produce. In the State Of Tennessee
there are 81 banks and branches Of nominal capt.
tails of slO5O0. Q0O-ampy sufficient to keep any
agricultural community under the ban, or in a
state of borrowing from one years end to another
large part Of the time of the present Legislature
of Tennessee has been occupied by debates on the
re-chartering of three old banks With the banking
statutes, and full development Of the workings
and results of the Louisiana system before them,
or ought to have been before them, the members
of the Assembly appear to be at sea without charts
mr. rudder and at the last dates there was no land
in view. Indicating TINT landing could be effected
There is one novelty in the bill now before the As
sembly. Tor had been) that is the following:
ga m nerson shall director any bank not
n If tle STATE nor shall than wo-thrts any bank
resor be stockholders in the banks for which they act n
directors.
This is a new kink IN bank charters and would
be out Of place in any charter or act Of ncorpora
ton. IT appears to embrace too much Of the uni
yersal suffrage system, in fact, goes beyond it. So
intimately and closely allied are the commercial
and financial interests Of Louisiana and Tennessee,
considerable feeling is eyinced BY many Of our
mercantile community in the legislation now going
on at Nashville.
There is a good demand on Camp street for land
warrants Of the small size, and fair inquiry for
Louisiana Internal Improvement Scrip, which com
nands all sorts Of prices up to 50 per acre.
we append our usual weekly quotations OF coin
and unenrrent bank notes, being those OF John
Wood Il Co.. Camp street.