New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-01-07

WALTER &. ROBINSON, President,
G. CRuzsT, Cashier.
There has been very little variation in the rates
of distant bank notes and uneurrent money gene
rally for the week. The Communication with Mis-
souri,, Wisconsin and Upper Illinois being under an
embargo, checks the supplies of currency from
that section. Of the issues Of Kentucky bank
notes, the offerings have been large They are
readily taken by brokers and dealers on Camp
street. as they known to be safe and paying in
vestments at the present "a ties Of exchange There
is only one bank in Indiana which is deemed as in
first rate standing and its issues are occasionally
offered at 2@25 dis. There has been considerable
increase in the offerings of Georgia bank notes,
forwarded hitler for investment in Western pro-
duce and sugar and molasses.
From all accounts it appears that gold or legal
currency is very scarce through the entire West;
that it is not to be had in some sections. Even in
ST. Louis, where it would be supposed free sup
ply ought to be on hand at all times, we learn that
there is scarcity. In fact the banks and savings
institutions in that city were paying f2et. for gold
SO as to make a good expose in their semi-annual
OF January statements. From this, it is supposed
that gold is not the standard of eurrency that the
issues of the thousand shin plaster manufactures
the Pixies Peak gold mines and accounts from
there was deluson-in fact, an arrant humbug
We learn that one of the banks in st. Louis the
2sth ult would not redeem its notes. payable at its
branches, under discount of l yet. We should
like to be informed in what category such banking
is to be considered. Sight exchange in St. Louis
on this city ruled at the last dates at li@lA dis.
Here is quotation from Cincinnati of the Goth
of December:
Gold continues very scarce There is demand
country banks but there WINS none in market this afternoon Ii
would sell readily 81 u prem
1t might be asked, what becomes of all the
proceeds of the pork, bacon, wheat, lard, hemp,
| and other articles raised in the great West, or
where is all the gold supposed to be in the coun-
| try-has it taken wings and flown away7n For
the scarcity and complaints regarding it are from
day to day increasing. In all the many localities
from which emanates the complaints of stringency
and tghtness it appears that there is great lack
| of even small coin that the small issues of the
various laboratories are constantly on the increase.
This brings up the subject of the partial abandon
| mcnt Of the purchase Of silver coin and bullion
| through our Branch Mint Had the price of 81 223
10 or not been suspended at least two millions OF
ounces would have been deposited for re-eoinage
within the past eight months. The greatest part OF
| this amount would have penetrated the great West
In fact silver (real money! would have passed
up the Mississippi river and been distributed and
| circulated wherever money or change was requir
| ed. This silver coin would have remained perma
nently in the country, and when our President ant
Mr.. Secretary Cobb allude to the withdrawal Of al
bank notes under ten and twenty dollars twill b.
well for them to consider that by the action an,
influence of the Director of the United States Min
| great impulse has been given to the increase q
small notes through the country.
/ In land warrants there has been an improve
ment, as appears by our figures below.
There have been no receipts Of Mexican dollars
with the exception of the small sum received TIL
morning from Brazos ST. Iago American silye