New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-05-14
Heb Orleans @aiIp Grssfellf.
FINANCIAL AND COMMERCIAL DEPARTMENT.
Ns@ @rIfaas Mursu Narktt.
crrscrnr OFFICE. se. 70 Camp s.rs

e1NW WAMaN 1ktVlstg 2ktAtAtls
carscrnr osrIer. ". 70 Camp street,
Saturday Might, May u. 1850 ! |
The week closes ON larger amount or business
in our great element than for two weeks past also
an enlarged demand for Northern funds, which has
been one Of the chief points during the week.
Although in the chief basis Of exchange COTTON
there have been larger sales than for two previous
weeks, with good sales Of tobacco, the supply Of
bills has been inadequate to the demand. The
movements in cotton for the commercial week have
been As 500 bales against $500 bales only for the
corresponding week last year. In the line Of West
ern products there has been as much business
doing as usual, embracing very active inquiry for
corn for all markets in Alabama and Florida,
Georgia, Texas and Upper Louisiana, which depend
on our market for supplies. 1t appears that the
great West cannot keep our market under full
stock Of maize to cause any great reduction in
price. Moreover, there have been some purchases
made for Europe, the first for the season, two car
goes being cleared at cur Custom-House to-day for
Cork and market. Corn in some parts Of Florida
and South Western Georgia commands 81 25@sl SO
per bushel in Texas the same, and in come parts
of Louisiana the same scarcity. The question has
not yet been fairly Calculated whether it is bet
ter policy to raise common qualities Of cotton to
sell at 6409c., and buy corn and pork at present
prices then it is to raise less cotton improve the
quality, and raise asuiciency Of and meat for
the supply of the cotton growing section Of the
great Southwest. However, it does not require
much over one million and y half Of dollars to abb
sorb all the corn that comes to our market. It
looks very diminutive in juxtaposition with our
ali half
Of dollars difuses an immensely of comforts among
the tens Of thousands Of farmers through Tennes-
see, Missouri, Illinois, Wisconsin and other States
in the great West, Further, when we read Of the
great productions Of the mighty Vest their wheat,
their corn, their oats, their hay and their pos
what does the amount they export and The number
of inhabitants engaged in raising IT, compare to the
productions alone Of the State Of Louisiana, which
are exported not wanted within its limits, but
which the world wants, say for rich soil alone
over seventy millions Of dollars in cotton, sugar
and molasses, with a population not reaching one
half milions True as gospel, that planters can
afford to buy corn, pork and bacon, ana all other
necessaries, and pay for them, including clothing,
boots and Shoes plantation and agricultural nipple
| ments support and keep alive hundreds of thou
sands of farmers, laborers and mechanics-resi-
| dents in the sixteen States North Of Mason and
| Dixon's line. As regards the great corn argu-
ment, we have merely to remark that every State
| in onr Umon-almost every section Of country in
the uniYerse-can cultivate corn and hay, but they
cannot produce cotton and as for the South it can
raise all the corn wheat and pork that may be re-
CURED If it chooses TO do 50. If the great South
ern emporium is in debt it is able to be SO, and
sustain millions Of operatives in the Northern States
and Europe, through the great and varied ramifca-
lions of trade, commerce and productions.
1t is hardly necessary to remark on the decline
and falling of in the general wholesale and jobbng
business. The advance in the season leads to it.
In dry goods-the queen of trades-in groceries, in
hardware in clothing, in shoes; in fact in all the
concomitant branches of trade Of the great bust
ness Of our city do we note the annual decline.
OF course, we have very little to say about the
general retail, fancy and local trade. The grand
Boulevard Canal is now partially deserted about
the hour of noon each day, and the lesser streets
Royal and Chartres, have very little to boast Of
Our daily remarks give the course of business OF
the great levee, and to curtail our remarks, WI
have only to add that the summer standard o
trade and summer weather are now on us; that tn,
migratory population the birds Of passage and all
are leaving every day by scores and hundreds, AMI
that many travellers will be found throughout til.
North and in Europe glorying under the name of {
Lousianian- availing themselves of eclat of citi
zen--thougt they may have no more right to the
same than the Khan of Tartary
4 The general money market during the week has
moved along without any important variations oil
Il changes having taken place. The applications a
the several banks for discounts and loans have
fallen off from last week; with some Of the banks
largely and with others they have been well KEEP
up. In some instances the applications have no
equalled the income, and though to-day at two pro
mnent banks the offerings were in excess OF the
income, yet the means of the banks allowed then
to be LIBERAL For instance, in one bank the offer
ings were 100000 against very moderate income
mot onehalf-yet there were only 5000 reject
ed This does not Indicate that stringency of inan
cal affairs that some croakers would like to make
the public believe does exist. True, some parties
who desire to anticipate may be frustrated in the
views but that will be from the fact that they de
sire to take the money ont Of the State to the
iudice and disadvantage of our local and perma
nent residents-the essence, the bone and sineW o
our city and its supporters. Of course, our banl
i
discountenancing these come-to-day and go-toTmor
row customers; nevertheless, many of these tran
silent people do receive favors, to which they are
not entitled, by artful means, or rather cajoline
our bank managers.
4 The return of the banks this morning is goot
one; they are in strong position, and we are glat
to perceive that the threats of calls and withdraw
ing specie have no terrors for them. The deelin'
in the specie reserves this week are only s237 900
and some Of this were Mexican dollars, of which
there are good supply coming to fill the vacuum
In fact, with the exception Of one item IN the work
ings and movement, the same features and tn,
same decline in the weeks movements are in char
acter with those of the corresponding weeks 0
year and the year before True, the line Of dis
counts overtops 100000 o0o but the products of ou
State can liqnidate that necessary, out Of another
&c In .nr,a