New Orleans daily crescent., 1860-12-05
Nt6 0rlsans Qailp Crescent,
-r~SI<1l~sSs=ssS7 s1>11c-51o-1e~5oc-~.
FIEANcIAJ AND COMMERCIAL DEPARTMENT.
Htn @rIeans HIantv Hlarkst.
CEEscEsr OFFICE, No. 70 Camp street,
4 Ta..4da.- LE..-.-s.-.z L.. 4 1asa.

The morning opened with the usual nonsensical
ipouiries "a what ia Tho neurs ~ ssyyto, dos. ,to
..I.t
% pH DitHs itoni ANe" AA ""' WIN
stop to-aay9' we beg leave to inform our numer-
ous readers that the oft-repeated inquiry, /" Who
has stopped?', who has let downl; "who has
,ona ouo-,,, =
ny "a9''ssS VI Jul wy she gehefai aaliy move
.'-sN'' ' "puia p.osiesa niueh more harmohiouSiy II
'feiy one Wouio atteha 70 ana MIND BIS own busl-
ness lhis good city OF New Orleans has passed
through greater and severer crises than now hangs
over IT. The wears 1914 and 1919 tba raa 1eIo
tho va. Io9s tba 1os1 80 80
i' COZ o' sne yS'-i ~ ioot utihs the cohtest be-
tween the eenerai Government and the United
States Bank, and the year 1887 were all periods of
more savere pressure and crisis than What vra arc
- - '" y ga
no" passing through. but the Iuost absurd anu
ridiculous idea attempted To be circulated, and
which has been promulgated BY parties who knew
no,hino ~ ,ba. ,ha,, 80 ,rr;tnn abo,,t y a.,
neNs VI "la' my "si' ","s Aeoa' - me-
the pahks OF New orleans would not sustain them
selves. Some folks have been writing from this
city 10 their friends and correspondents elsewhere
that want of confidence is felt in the ability of our
banks to sustain themselves. Now all such express
sons. all intmations of this nature are entirely
pratuitous. M man having or nrosessine tho least
knowledge of onr banking system conId have a
doubt lint what opr banJs yyanId
and anv one expressing different onn;on al tb;s
time exposes his Ignorance.
It has been supposed our banks could expand
and contract at all times: that is every day every
weak and each month II was sunnosed that the
old hanks eouId in case of necessity issne most
notas RAT tho oraat nnh,ic ia not fnIIv nosted nm
regarding the statutes. The act of the 9th Ian.
uarv ls42 which ID stIl in force. reads A follows.
That II abaU MT ba lavfnI for any hank IA issua
any note or other obligation for circulation, except
such as are payable in gold or silver and ON de-
an. a5 .h irtoT ord rnaan;n nf bs ac an5
any director of any bank who shall by his vote au-
thorize such issue or if such issue shall have been
aireaay aatnorlzsa VINO sian ~ hos ~sln y ven aays
meetna of the directors within that time have
moved the recision of said resolution or entered his
protest against said resolution, shall be liable to
erlmihai pfosecutlon aho On cohyIcsion shaH DC
y a. ne ~ ~ ,,saa ~ 81
exceeding two years, or both at the discretion of
the Court
With law OF the ABOVE stringent provisions, 1t
can hardly be expected our banks Will resort to The
doubtful expedient OF post notes to reeve present
financial troubles.
IT has been suggested that our banks could ex-
pand, enlarge their discounts, ADVANCE on produce,
and throw themselves on tne mercy q sne Legisa-
ture. one OF the most unwlse and inJudielous re-
commentators Which coulo nave peen proposed,
particularly Tor the free banks, which are now nam
pered ana controlled Dy laws OF the most stringent
character our community does hot appear 70 De
aware that bank not haVihg eelh IN lts vault 70
onethrd OF It's cash ilaoliites, IS able at any mo-
menu 70 De nfonsht up oy lhe BOARD OF currency,
Ihere was nothing done III the paper Market To-
day. The banks renewed, and discounted some
thing more besides.
The directors OF the old Pontehartrain Railroad
declared dividend out OF tine earnings OF the last
SIX months OF 58 get, payable on ana after the
10th inst; this, with 4a paid IN June last makes 10
get. for the last year. What other railroad in the
country has done as well for Its stockholders we
are not informed, taking into consideration the
| many draWnacks susealned py the foutchaftrah
| from storms ahd accidents.
| Ihe E&change Market was rather hrmer TO DAY.
The counter rates for checks on New I ork ruled
| at 3@4c. dis, with very light inquiry. Sales
outside for double A, l0l5 get. dis; other good
| bills ct 1}1l3 yet. discount. Some good three
days sight was sold at yet dis. We quote three
and ten DAYS at 2(924 fsct dis; sixty days sight
nominal, but might be pressed for good names at
4@4s dis Sterling was a little firmer. Sales of
clear bills at 95@97 up to 9s and 9s4, while some
drawers refused 80. Remittance rates rule at
about l00 Francs quiet. We note one transae-
ton of 100000 at $40, and other sales of AL on
Paris direct at 5.75f, making extreme rates 5s5@
$40. The banks do not appear inclined to draw.
1t will pay them better to order the proceeds Of
their French exchange back in gold.
We wait with some interest about the gold move
ment. 1t must prove profitable to the community.
that is, through the banks and dealers.
From the manner in which some people talk and
act, it would be supposed that the entire CONNER
cial and financial community Of our good city was
going to-day. More absent and nonsenseal ideas
could not be well entertained. True it has been
trying times with many parties who have induiged
toa frealy in advancing and oss,,,nt,
M, :. - ~ a,su,ns onlsa''ohs, "
aug oue oi apoat eieVeh hundred merchants and
factors counted up in our ety there have baen
within the last fifteen days about twenty ems.
nansons great and smoI, son,a ,,a.i,..
i, r, ~, . 80 't' spie' pelnhps' hot
hho"h ny eheT next door helghpors. We expect
to hear through the public prints of other places
that more than half of all the New Orleana NOR.
cbonts have snsnende al no,nont "a :. =
Aoeo pes aiiu as to'aay had
oeeh se1 apars iof general prostration, we have
much pleasure in stating that not real case of
failure has taken place to our knowledpe Tbere