New Orleans daily crescent., 1860-12-24
Neh 0rIsans Daiiis Crescent.
FINANCIAL AND COMMERCIAL DEPARTMENT.
SsIttp ORLEANS Ttluntp gfIuket.
CaEscEsr oyYIcE, Ee;7o Camp stsest. Il f..

~
CaEscEsr oysIcr No 10 Camp ssresf.
Saturday Might. Dee. y. 1850.
The improved feeling in financial circles and in
cotton, which commenced, as noticed in our last
weekly summary, has from day to day been grad
uaIly extending for the week now ending 80 that
so far as the operations in cotton sugar molasses
and tobacco go, the Gales and movements have
been highly sfactory. To these favorable move
nents we have to add great anelioration and re-
lief in the general money market, but while we
have to remark on this favorable change, we re-
gret that we cannot embrace all branches of trade
whish go to make up the great trade of our empor-
ium. We hope TO have some Improvement to eorh>
ment on ere long. We have change IN the fun 4
damentals. We can only hope corresponding \
change may follow in the concomtant branches; I
nevertheless, it cannot be disguised that only
moderate, very moderate business can be expected
in dry goods, hardware, clothing, srockeryWare,
jewelry and fancy things in general this season. |
The great grocery trade stands better chance |
has good aeld-thongh the general profits Of this |
business will not be large in former seasons.
This is manifestfrom the disparity of sales between
the present time and last season at the same
period, or during the holiday trade.
The sales of cotton, sugar and other produce
amount for the commercial week to four millions
SuppooSo
shall be asked to believe that the trade of our city
is retrograding that business is dull, with the
usual expIetve, sc Dull times, never nothing deing,m
with the usual daily eroakings. That the large and
complete stocks of general merchandise now in oHr
market cannot be sold this season, there remains
not a doubt The high remuneration following
sales and general trade for some years past has led
to large purchases by our merchants the past sea
son. A reyuIsion generally attends the course of
trade once in seven years. The panic of 1857 was
y simply foolish and unnecessary; the eliminating
point had not been reached then. The commercial
revolution or disturbance, which was about due
I this septennial, has been hastened by political
II commoton. From the extravaganza, the improyi-
dence the idleness evnced, the Juror for pomp,
show and the pursuits Of pleasure, mscalled) the
I yehemence for vain and superfiuous expenditures
the bombast, the prodigal disposition and profu-
: sion. the desire for investments in lands and
: negroes throughout the Southwest rendered it a
N bootless task for the exponents and writers on
u political and commercial economy to raise their
voice or interpose by their counsel and admonton
to stay the then impending crisis. Nevertheless 1t
r ia really gratifying and with heartfelt pleasure,
that notwithstanding all prodigality and extrayag
anee, we are passing through most severe and
complete revolution attended with very little fnan-
l
n n nraise all praise to our sound and admirable bank
h. ing system As regards the forty to fifty suspen
sons on the part of factors and Others they canno
he regarded as the cause or foundation OF any
= great or real distress. There are no myriads o
M oneratiyes no thousands of laborers thrown out
Of employment, or turned out on the community o.
!. the broad world for succor, assistance or for
In livelihood. 1t is not our intent to write nomi.
ate on the passing events it is sufficient to commen
J. on the successful movements in our produce mar
hip ket for the last two weeks, and at the overthrow
IN of all attempts to bring the grim monster (panc
, into our midst.
Promising that our city is well filled with visitors
low temporary sojourners from all parts Of the worlc
OF As usual at this season of the year, our stree
being thronged day after day, the various channe
rd of communication with the interior being crowde
tch by travellers leads to the supposton that the bus
ness of the season is reaching the very acme, al
. that the various departments OF trade VIII De
tive. In all probability there will be more acnvii
bark increased demand for merchandise, but all will
@ 9er on dminutive scale ratio compared with Ia
70 season. We again repeat the caution to our d
- goods dealers, clothing sellers, millinery and tra
Wis ers in the fancy trade crnolindom in particular,
Late restrict orders for the coming spring trade ltw
O. he no use to order out those aluring and entici
ling assortments Of former years, even if they can
Yat siate furnished or sold at half prices.
~ The general money market has improved frt
= day to day during the week. The accumulation
her specie at this point continues. The moVemel
for with the banks exhibit them to have discount
70. daily more or less, besides renewing preyit
paper and in all probability they will from day
- day discount more or less. They will, howev
w keep strong position Borrowers for speeulat
of purposes or investments for rise we do not h
ppy need apply In all regular and legitimate busin
a-92 there is desire and will to assist the commun
ean but would it not bs mpotc for our banks to gr
4, ap- discounts to applicants who want the money
20. send out of the State or from the southwe
rican Also is it udicious wise to grant discounts
! viii the condition that the proceeds are to be taken
bank checks on New York, even at par? Be
ey.- by far to order balances from New York
rcan y, :. - .o,,inc. oha.1,s in th;s hide n
lSM Fo aa manner MANI This is the way our banks are Of
CO. used to the detrment of our permanent citizt
1900 and advantageous to those houses which h
load. branches here the principles of which are nm
CO. to the great South.
g the In the open money market there has been an
- proyement from day to day, and some capita
and having realized out of their port foos in the
eight of collections, buying again. though sparin
the at considerably reduced rates from last week,
~. as low as ls092 f3ct. per month; but these fig
hip are entirely high for any regular business
gsged The bank returns for the week show still fur
Ew. paying up-the reduction IN loans ana oiscouh
. over 100000. The decrease in deposits s.
PANY some paying also but neither is any way rema
BILE. when it is considered that produce fwhic
is presumed, was sold to liquidate debts) to
amount OF over 81 100000 has been sold during
week. The specie reserves are well up, and
receipts now on the way and due next week.
w.. will top sl3,OooooO by Wednesday of the COL
week.
Iss ei ihe Varialiohs vi '''e ino'oAne"' -oa 'A0
OF The are
,s,s at specie .ss24 8.
5nrraasei in lS5, 81
N increase in denoss preper .......,.... 27S.Ss
will be short ionnS of .,,.......,. Cos 81
y leroasa il, FyrhanTen of .......,.,,.... 32Ss
dent. An Increase IN dis'ans saaefs s o m sa
fhe eEarhton IN GU ~, ~ nphs ~ A ~ 9 +e - " 7O6 7t