New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-10-29
Weh Orleans 1aiIp Crescent,
FINANCIAL AND COMMERCIAL DEPARTMENT
Ustu 0rleans alonep alarhtt.
cRzscEyr orrrcr. M. 10 Gam, :, :. :,

" -syF'NF''Fff
& CErscEsr OFFICE No. 10 Camp street. |
Saturday Night. Oct III fs6o |
We have had another week of favorable weather |
for the gathering of cotton, the grinding and max
ing Of sugar, though the past two days have been
too mild for the cane. The steady demand for cot
ton has been freely met by factors and sellers, the
sales resulting throwing into circulation increased
sums of money, which, by-tbeb bye, large as they
are, are immediately absorbed. The sales of cot
ton for the week reach 54.G9e bales, making for
the two past commercial weeks l13, 600 bales, and
for the four weeks the present month 2l6,00o
bales, valued at something approxinating $40 oOo,-
600. The Indebtedness of the community to the
banks has been reduced in the same time ffour
weeks) 81 1863 1853, say from s2s to s27 COS
0O0 This is something paid oft be increased again
after the advent of JAN, 1851 The sales of cotton
for the corresponding week last year were 81 900
bales for the four weeks 1913 900 bales, and in 1858
for the same week As 900 bales.
The movements in sugar and molasses offer moth
ing worthy of remark. The receipts are too limit
ed to admit of large sales. In tobacco the frost
accounts have had their influence on the weed
These frost accounts are to be received with some
discount, as three four years since similar ad-
vices were received, as conclusive that the yield
would be curtaied; nevertheless, the crop of the
year alluded to turned out about equal to any pre-
| cedng it. @
| Ingeneral business, which embraces all branches
and descriptions Of trade, there has been some i'm
| provement-just sufficient to keep our community
| under the belief that there is such thing as COM
| merce and trade. The fall trade is attended with
too much sluggshness and inertness to suit our
fast devotees of business; nevertheless in eroce-
ries particularly there has been an increase over
last week, but relatively the grocery business is
very slack, when compared with the large transact
| tions in produce. The wholesale dealers and Job
bers in dry goods complain greatly of limited sales
| As for wholesale dealers, we have only two or
three in onr great city engaged wholly in the i'm
| portation Of dry goods-the Queen Of trades, as
4 cotton is King. Some Of our jobbers, as well
| as retailers, do import few dozen packages
| from England and France occasionally. Here
is where the great wants and defects in our
| foreign trade are experienced. We have no CAPT.
talists that engage in the direct importing bust
ness-not even to the extent that it is carried on
in the fourth class city, Baltimore Even our very
large clothing establishments have every garment
they dispose of manufactured in Northern cities,
True, there are some Creole and local tailors who
import direct their own stock and do lively bust
ness, but it is only with certain class of our cit
zens, who can pay well for good articles of work
manship. New Orleans requires the addition to
its trade Of at least dozen more houses Of cap
tall energy skill and talent for the dry goods trade
alone, and possibly we might then have some
show for share of the great trade Of the West
from Memphis up. We have very little of an en-
eouragng nature to say of the dry goods trade for
the week. In hardware there is nothing more en-
couragng. In clothing the country has been well
supplied from the North. The retail trade has
been fair. The boot, shoe and hat trade has mod.
erately improved. Drugs and medicines are I'M
saleable, Of which people do not take any great
interest. The grand boulevard Canal, with the
lesser streets, Chartres and Royal, have been well
thronged, but from appearances the large throngs
Of people were shopping excursionists, though
there was some amelioration in the trade. To
sum up, there is no great supply Of the needful in
circulation out Of doors. Sugar and cotton plant
ers are engaged at home, and of course their fam
lies have not yet made their fall visit to our EN-
porium.
From the country connected with our city, nfor
nation comes daily of expressions of fear for ths
future. 1t is useless to attempt to conceal tina
trepridation and uneasiness prevails-not that tht
great South can lose suffer to any extent finan
cially, let the worst to the worst. The South
will be safe enough after slight but only momen
tary crisis. 1t is palpabe and plain that the North
ern capitalists are the tenters. The sun of New
York is obscured. The money kings exhibit theii
fears.
This is manifest in the recent proposals for the
Government loan of $4,000, 600, the great part q
which can or will be paid in former issues of Treas
ury notes. On the first receipt Of intelligence re-
garding the tenders, it was supposed they were
favorable for the government; but full particulars
now at hand places another feature on the negota-
ton For the 900 required the surplus was
only the paltry sum Of 100000. The Black Re
publican capitalists of the North are little fright
) ened. However, the government is not quite Sc
bad as it was in 1871, when it sent an agent IL
Europe to negotiate a loan who returned withou
borrowing dollar.
Our Money market for the week has been under
tolerable supply only. Lenders of money an,
| buyers of paper have had the call. The negotia
tons of paper the street have fallen off greaf
from last week money is accessible by paying 70
it, and at the same time offering Al and goo,
I paper for it. The banks have just as much an,
more satisfactory paper offered than they want
this particular epoch. It is important that ou
community should be prepared. From our obser
vations and daily exchange of views, it is prepared
The bank movement for the week shows no i'm
portant variation from the last. The decrease il
discounts is nothing at all, for the difference has
been absorbed in exchange operations, which more
than offsets the decrease in the line of discounts
Whether it is Of much difference for our banks tt
have increased balances due them from Northern
banks at this moment, or whether our own citizens
should owe them the same amount, is not our pnr
pose to argue and debate at this moment.
The weekly return of the banks, made this morn
ing to the Board of Currency, show the following
changes for this week:
An ncreasein specie of Sla9i4
decrease 41t53l
decrease in short loans Of l50g77
An Increase in deposits of S2GSi0
An increase in Exchange of. ,............... q036s
decrease in distant balances of l05SS0
The variation in Long and Short Loans is decrease
2y5Sib
The changes or movements for the week ending
the 9th October last year were as follows:
An increase in specie ACKNOWLEDGEMENTS Si6sSs
Il decrease in circulation of.