New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-02-16
aetu Orleans @aIlp Grsstelt.
FINANCIAL AND coMIERcIaL DEpaRTmEET.
Hem 0rIealls Iloneu H!arkst.
" .' i VA, 's w - IL

Wednesday evening. Pei is issg. 3
The general money market moved along very
quietly. Blended, as our money market Is, with
New York, there u no controlling Influence erna-
Mating from that metropolis that has any effect on
the rates Of interest in this section. There were
many remarks made previous TO the organization
Of Congress; that is, the election Of Speaker was
causing great uneasness ID Northern money circles,
caused by the delay in an appropriation bill. Well,
the great Congress has organized. but the Post
Once bill, 90 termed, has not been passed by Con
gress, and money Is about as cheap and plentiful
IN New York ct this time, or was at the last dates
as it has been at any time the past year. I'd our
community the action of Congress has never been
consulted in the buying or selling Of money, nor in
the selling and buying of paper. IN fact tile money
market of New Orleans Is market per Sc, and
moves along regardless of what may take place, or
what the course Of other markets may be. For
instance, was announced yesterday that the Bank
Of England had advanced the rates of interest to
get. This was confirmed by our dispatches pub
lisied this morning; but it had no effect whatever
in moneyed circles and If the advance is car
ried to get or get, there will be just as much
money in our market as though the rate had been
maintained at ~ yet.
The calls on the majority of the banks for dis
count to-day were large. On the street there was
not so much paper offering. Rates Of interest are
without change, which means that long dated
paper can be placed from ., u to 10, with trans
actions inside and outside of the figures.
The advance IN the rate of exchange has not
met with free response by buyers and remitters%
The market opened very calm and very cool this
morning at par to an Jth dis. The rates over the
counter at the banks for checks on New York were
par to an 9Th dis; at the latter figure there
| several transactions outside. The banks bought at
/ dis, without any lack in the supply being per
| ceiyab}e. The demand, however, at ! dis. was
| good, and maintained through the day. Tn time
bills there were sales of prime sixty days for re-
mittanee at II dis, and two sums were taken at Il
| dis. but these rates are not deemed quotation
| but as one of the movements of the day. The gen
| eral rate of good to fair commercial sixty days
ruled from Il, 2, "a to % get dis. The movements
were slack and the market ruled against sellers OF
| drawers, excepting for some special transactions
In sterling there sales OF clear bills at froT
| 1919, lG75 to 10s There were two sums sold, oil
$4,000 EACH at 1851, but these exception rates.
The bulk of the transactions were between 1918 to
1881. In bills Of lading there were sales at 1914
1919 to 1919, the bulk Of the movements being al
lOTI@1O7i. There were very few francs offering
to-day The market ranged from 5.2s} to 5.22s on
1 Paris
There were sales of the recent receipts of Mexi
tcan dollars to-day at the advanced figure Of 1864
We do not think the Mint will obtain any silver al
the price regulated by the Director of the Mint
4 say LII per ounce.
The Legislature has not taken any action on the
bank question. 1t will come up in the regular
way, on the presentation of the report Of the Join
4 Committee on Banks and Banking. It is NANTES
that the contemplated application for charter io
\ hank in the parish Of st. Mary must be subiec
to some mate al changes or notifications in til,
General Banking Law Of the State. A bank Or
gained under the act Of 1858 could not prosper o
work its way. AS some amendments are propose,
to the act, it will be no more than equity an
justice for our Legislature to take into considers
, ton the memorial of the banks in this city nol
working under the general banking law; takin
care, whatever concessions or amendments may b
granted, to preserve the one-thrd coin basis in a
amendments and in all cases as the main and car
dina features of the system. 1t is hoped this prn
ciple will be sustained.
The banks of South Carolina, which ought t
have commanding position in the world of finance
continue to show very moderate strength as ap
pears by the last monthly return to the Comptrolle
of the State. The specie reserves, something lik,
our own banks, do not show an increase. BY ths
figures below ii will appear that the immediate
cash liabilities of the banks which includes the
country and banks in Charleston, are $40, 77a,33l
that is, circulation, deposits, and amount due dis
tant banks. According to the banking law Of
Louisiana, this amount should be represented b,
6,934o0O coin in vault and Is $50 600 in paper ma
turing inside of ninety days. True, there is large
amount in exchange; but exchange though an
swering very well to meet liabilities, to some ex
tent, will not at all times meet circulation. 1t will
be perceived that to meet So ia 900 of cash LA
biities there only little over two millions and
| halt of dollars in coin:
Condition of the Banks of South Carolina on the
| LIST February, 1850
LIABILITIES. RESOURCES
Capital 81 962 ISpeee 50 5s3 Id