New Orleans daily crescent., 1860-10-05
Neb Orleans 9aiIp Crescent
pINANCIAL AND C0MMKRCIAL DEPARTMENT.
Ntn OrItaas stloutp atIarkst.
caxsennz ery.cs. 70. 70 Camp strss.,


influenced by the present position Of The crops I
When we allude to crops we naean sngar ana cot |
ton. The rayages of the late stern have been felt
over broad space Of Louisiana and Mississippi. |
Some of the accounts are Of the most appalling
character, particularly from the sugar region.
These accounts, gloomy as they are, may be con
hrmed; but we believe exaggeration has been, as
heretofore, appealed to. Nevertheless, the sugar
has received irreparabIe injury. Many of the eul-
tvators of the saccharine stand the loss of an
entire crop; then there are many who will from
| the same causes, or short crop, be forced per-
| haps to the wall.
| The calls at the banks to-day for discount were
large, and at the Ajax they discounted about one
half of what was offered. This is about as much as
could reasonably be expected, as many parties
| frequently offer about twice az much they ex-
pect to receive. This course is rather an mpslitie
one, as there is a good deal Of paper rejected,
which, being SO rejected, leads to the supposition
| that it is not deemed SO sound or strong as the
paper accepted. 1t is suggested to the applicants
| not to conclude that because A. BIS paper is
refused in the bank parlor that it is from any
doubt of its solvency and strength, which can be
satisfactorily explained: A. BIS account as drawer
of paper may be full at this or that bank, and G.
D. or John Smith may not have dollar under dis
count both being of the same standing and credit,
| it can readily be diseerned which paper may be
rejected. In old fogy times, when bank mandators
| met regularly twice week, the general rule was
to class A. BIS account as full at $40, 600; C. DIS
account at $4,000; E. F.'s account at $4,000.
True some of the banks in 1s36-'37 overstepped
this rule, and deemed A. B. good for cool
hundred thousand dollars, whether he was really
worth continental dollar or not; G. D. was
| set down, we will say, for something more, with
about the same resources. What constitutes full
account at this time in the bank parlors are not
| informed, but many parties who are applicants for
| loans and discounts triweekly or semi-weekly,
must take into consideration that if they are not
favored their accounts must be considered as FULL
and every merchant by referring to his bills paya-
| BILE and his ledger, provided his books are prop
erly kept, conclude when his account is up to
| the point
There is no speculation of local nature now
going on in our market-all transactions are based
on supply and demand. If there had not been SO
many hundreds of thousands of dclars-yea, we
might say millions-drawn for travelling purposes
from our city, we might have to remark on an
get. meney market it is, we are laboring along
under higher rates Of interest, for the season Of
the year, than have been known for some years,
~. tI;s ba
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