New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-04-20
Neh Orltans lailg Crescent.
FINANCIAL AND COMMERCIAL DEPARTMENT.
Yen @rItaus Ilontp Markst.


cRKscxsr oyrIcg, No. 70 Camp street,
Thursday Evening, April 10. 1860. )
There was very little done to-day in the general
money and paper market. The offerings at the
were beyond the income, or rather beyond what it
was desirable to meet. There were, however.
large sums of long-dated paper offered or rendered
to the banks, the same az in previous years, but
the position OF the banks will not allow them to
take long paper with freedom. Last year at this
time they could expand, under a large specie re-
serve, good deposit line, with nearly $40 900
in exchange.
The following figures denote the rates of money
last year at this time say irstclass and good com
mercial paper 7l0sa and 10 a9ct. The same grades
Of paper now range at $50 and IL get. In april,
1853, the rates were l0@lI and IL Oct. This is
positive proof that money il much cheaper to-day
than at this time two years ago. and much dearer
than it was at this time last year.
We have not commented ON the Northern money
marts for some time, though the Bears in Wall
street are endeavoring to introduce panic !; II
they cannot raise they will then put up with
thirty days pressure 1t is manifest that crisis -
expected in Europe; If It is to come we hope II
will make its advent before the first Of October.
They think more Of . crisis on the Continent than
we do. Though we may have to carry over tol.
cradle heavy stock of the staple, we prefer that
this crisis should occur at early day possi-
BILE; the sooner it comes the sooner it will be over.
But here is what is said in respected circles in
Europe about this crisis:
need aanist say that Europe day
e.
the denouement hut will come later The great
Of The principal capitals well Of the pree
ous condition q things and As The clouds slaeker
Well, it may come to pass, and then it may not |;
| in the mean time, we presume to admonish one
and all not to incur any Indebtedness beyond their
credit line at this time. But from the above para
graph we are to witness a political and moral
panic, and changes more than anything else. OF
course, financial and commercial pursuits would
be more or less effected ifthe hints in the above
paragraph should be confirmed.
But sufficient unto the day is the evil thereof
so Northern Bears, stock obbers and SPECTATORS
can blow away. We will endeayor in our good
city to be in position to meet the blast, come
when 1t may.
Il There were some transactions in Exchange to.
day. The counter rate at the banks for checks on
NewYork was steady at an prem. The same rata
. was asked by double Al drawers outside; but
there were good and prime sight drafts to be had
Il at par, and the banks were buying some small
sums at l-l6@s dis. In sixty days sight there wers
sales at lt0l4 dis. for prime bills, the geral rates
ranging from 13@la for good down to II for fai
names, and some fillibuster bills, SO termed, at Il
az yet. dis, and those fllibustero bills, mad.
against actual purchases and shipments, will b
paid, though they may not cash on Wall street be
low the bank rate of fsct. We have not heard o
; any movements in short sight, and only learn o
one sale Of three days sight, good, at discount
In Sterling there several transactions of doc
ument bills (spinners drawees) at an advance
Large dealers taking very freely at 1919 VI
to 1903 when based on good cotton. Clear bill
, were very quiet. We quote 10S4@10st and q frac
ton over, and firm. We have not an operation i
record in francs; they are dull, and everythin
pertaining to France is quiet. The influence Of tn
! the great man Of the age is experienced on on
! flags.
Z We did not learn of anything doing in stock
except sale of Gas Light Company at 100.
The following figures denote the Exchange ma
z ket at this time last year: