New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-04-16

preston and cheapness in this branch OF business
tends to the advantage of the cutivators of the
soil, and confirms the old adage that what one party
gains the other loses. But, notwithstanding the
great shipping interest has for three years been re-
ported as ruinously depressed, we observe many
new, fine and large vessels entering or seeking our
port for employment. IT appears that for every
vessel lost its place is readily supplied. In con.
rrnation of this it only necessary to alude to the
many new vessels which have graced the levee
this season. Fortunately, we have had large
crop of cotton to give them employment, and
freights in general have ranged at higher rates
than last year; but they are descending now to a
scale that will not pay, unless some remarkable
good homeward business offers, of which there is
not much probability, as the several lines of new
steamers now running from the several ports in
Europe to New York monopolize the entire carry
ing of passengers and emigrants, which formerly
was so very remunerating and profitable to Ameri-
can shipping interests.
Though business has declined, it il no more than
what has occurred in previous seasons at this
period of the year. The great event of the year
the Inauguration of the Clay Statue-brought to-
gether large concourse of citizens, and many
transient visitors deferred their exit until after the
ceremonies so that the annual hegira is now under
full sway, and every conveyance, inland and up
the river, goes crowded with New Orleans visitors.
Many may not have been quite as successful in
their transactions met with realization in their
antieipations, but we have not heard one of the
tens Of thousands now departing say they would
not come back again; it they did it would make no
difference for we shall be certain of their presence
next season.
The general or wholesale and jobbing business
of course feels the effects of the prelude to the
close of the business season. Dry goods, groce-
ries hardware, clothing, hats and shoes all feel the
effects. Several Of the jobbing dry goods houses
have not made SO large sales as last year; some
few have sold in excess; some on an average.
The grocers have done well, though there are COM
plants that many have not made SO large sales as
expected. IT is human nature to nurInur; yet the
impression is general that large majority of
trades, with an equal proportion of groeers, have
sold as many goods and done as much business
as warranted by prudence and safety, though the
grocery business is conducted on the cash system.
It is, of course, well understood that the great
local and fancy trade ia about for the season.
Crinolinedom, millinery and haberdashery bust
Is
ing to go into summer retirement. Whether this
retail or local trade has been profitable as last
year cannot be fully ascertaned our conclusions
are that it has not in general. The sugar crop re.
turns are much less than last year. Some few hum
bred cotton planters have done we'll very well,
and are flush but majority of those on the new
Landslide citizens of year or two have not been
in that favored position to indulge in large ex-
pendtures, therefore it is doubtful if the OUTLAWS
for fancy articles, silks, purple and fine linen. for
carriages, bugs furniture and all the conoomitants
of an oriental palace, have been so large last
season. However, we fondiy hope that there has
been sufficient patronage OF Northern mechanics,
operatives and seamstresses to stay the demands
of hunger and Withstand restitution through the
Northern States, which will give Southern liberal
ity and chivalry another advance, if it were re-
CURED, in the niche of fame and eminence.
The money market for the week has been what
in commercial parlance is termed tight 1t has
not, however, been tighter more tighto highest;
because for three days the applications at the
banks have not increased, and, though large, a
good deal of paper has been discounted; at the
same time there has been very little beyond the
daily income returned. The banks in the aggre-
to the public immediate 1858 1892 !; on the other
side, the community or public have curtailed their
Indebtedness to the banks $685. 537. This is about
| tit for tat The difference in exchange and amount
due distant banks is about equal with the loss in
specie. There have been some purchases of coin
this week, and there has been one shipment of
$50, 900 to Mobile. The daily demands for travel
| ing purposes are the increase, but we do not
discern the least indication that banks can lose
any great amount of coin. True, million of dol
| lars would not cause any great contraction, but
| from that to two millions might But as exchange
is in our favor, we do not hear of any large de-
mands for the gold. IT appears that the steamers
| from New York today for Europe took out over
| 100000 in gold. The inquiry is made, for what
| purpose is this gold shipped, with exchange on
Europe in favor of this side? True, some Mexican
and American silver dollars are going every week,
but these are required for the East as it is termed
| in the London exchange. But, paying 1854 in New
York for Mexican dollars, how long viii it be ere
American half dollars will be leaving the country
| QUEEN sabe.
| The banks last year at this time were in posi-
ton to take long dated paper with great freedom.
| The same features are not at light this season
consequently tnose depenuFhe oH p"hAlnS ooeoei.
| modations will do well to govern themselves ac-
cordingly, if their porte feuies" contain large
sums Of paper maturing next season. The differ
ence in the specie reserves to-day and at this time
last year is 1856 900 against this season. We
ought, with our large cotton production, to have
as much coin this season as last, but the laws Of
trade have deemed otherwise-the result is that we
haven't got the coin, shall we have this season.
| The changes in the bank movement for the week
| are
decrease In specie or observation-disclosures 7633
in circulation Of. 56SSp1
decrease In deposits 221, III
in short loans or. SIS 5I
/ decrease In Exchange 6I6
An decrease In distant dances Of 3,593
The variation In Long and Short Loans fo ,be week
decrease s4seTs
| The following fgores denote the changes for tn
corresponding week last year, April 16.
decrease In specie of. STA 143
decrease In circulation uf,.,.......,..,. 2AsI7