New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-10-17
Ne6 Orleans 1aiIp Crescent.
FINANCIAL AND COMMERCIAL DEPARTMENT.
,Hstu 0rIeans Mlonsg Hlarkst.
CREsoEal orEIcE, No. 10 csm

The tenor of the Money market does not call for |
any extended remarks, the applications for dis |
counts continue large compared to the income. |
On the street there were some negotiations Of
paper maturing before June next, at rates which
might be termed as bordering on usury, as we
have no tyrannical and absurd statutes now in ex
istence regulating Che value Of money, or what an
individual shoald charge for his merchandise
deeming gold and silver articles of merchandise.
There was something Of improved feeling OBJ
servable to-day in the money and paper market,
that is, the feeling was in favor Of borrowers.
Two suspensions were announced in the course Of
the day, but as they brought about by the de-
tanrnent of cotton on the jackson Railroad By the
late storm, II Is proper to say that all the liabilities
will be taken care of 1t is not proper to consider
them as more than q fau1 pas, which will soon be
remedied.
There were very light transactions in paper to-
day. Some few acceptances Of factors of to 6
months date were taken at io@12 Pet. As good
feeling prevailed in regard to cotton, though no
gold il expected from New York for Investment or
for returns of exchange, we do not anticipate for
| this week at least any change for the worse.
| The Exchange market was well sustained to-day.
The counter rate for checks on New York ruled at
| from par@s premium; though higher rate, say
premium was asked, we did not learn that it was
| responded to. We have, therefore, to quote sight
1 on New York from an discount to an premium !;
also that double Al drawers sold largely at par,
but not outside as the drafts were not offered on
the street. The sales at par all round were large.
In time bills there were sales at lS4l5 for choice
and good sixty days sight on New York and Boston,
and for the general run of commercial drafts we
have to quote from 2@24 and p get. dis. There
were several large transactions in sterling to-day
bordering on heaviness at from 6a(@107 and 107
for bills with documents. The sales or purchases
at l07 were Free In clear bills there were sales al
los to a large extent, or rather there were pur,
chases at that rate and other transactions at 1854
Remittance rates are higher. We quote the buy
ing rates of all sterling from lo63@l0sl, but We Dc
not know whether these paying rates, as it is
rather difficult to arrive at what is the true deini
ton of "paying rates." according to the views o.
some of our old bank mandators. Mais, n'inporte
,, They who are closely concerned in the movement:
of the day will comprehend. There were somt
sales Of francs on Paris direct at 5.22l. The mar
ket was dull at this rate, and even at 5.25@5.252
We have to quote from s 3005 22a, as including al
transactions.
In bank stocks there have been no transaction
= at liz. There have been some sales Of outsid
= stocks, but parties seem to be mum in regard
prices In New York, on the 18th inst, there va
a sale of Louisiana State Bonds e f9c) at 90.
:. The money articles Of the Black Republica
journals of New York are teeming about the n
suits of the Pennsylvania and Ohio elections, Ell
= deaYoring to create the belief that the swindln
5. stock market of New York city has improved b
| OH both
the North and the South-rejoicing in their plan
ing and agricultural prosperity; that the bonds {
i'd a common Union are made doubly equal to Pr
sidental election to all Of which we say fudge an
fddlestcks! New York will endeayor, of cours
ee to control the South by dollars, or perhaps h
dimes and cents. 4-
The last monthly report of the banks of the Sta
ct Of South Carolina show them to be, as usual, ve
weak in coin reserves. The figures below say tn
had on hand only $l,6s2,236 in coin to me
$6,0s9,os6 in circulation; s3,047,s04 deposit
$2,55l ,274 due banks. Whether this latter item
due banls--is q cash liability, the statement dc
not inform us but we will pass over that, and to
=. the item due the State, s2,959,s3s, which may
~ deemed cash liability. This would give $l2 ,09
779 immediate cash liabilities, to meet which the
is only the paltry amount of 81 ,6s2 1886 in specie,
a fraction over IS cts. % dollar. According to
,ts Louisiana banking system, the South Carroll
mt banks ought to have in vault 81 900. Therefor
Carolina could not stand the run which political
J. are preparing for the banks throughout the Sou
True, these South Carolina banks have s950O,t
nal in exchange. great part may be on the kit
principle and would not be of much availability
the event of run. Another important item is
ner large suspended debt, say amounting to nea
one tenth of the paid up capital; other items S..
1853, very mysterious at least We learn t
ast the usual autumnal supplies of South Carolina
Georgia bank issues now being furnished
nv advance on, to purchase cotton in North Mis-
and sippi and some sections in Tennessee. AS for
Georgia banks, they are presumed to be safe, t
'n'' is, some four or five of them, but they
Ca required TO make their situation public more t
once in six or twelve months, we have no way
:, ascertainng their condition. There are, howe
ma great many weak banks in Georgia in fact, t
move on the borrowing system altogether. Ste
s4 holders and their friends too much ntereste
:. forcing the issues away from home. Therefore
IN ask for statement of the Georgia banks, and
may perhaps take it out in asking
JR STATEMENT of the Banks Carolina for the
September, 1850 made to the Gomptro Ter Of the Stat
LABnfrIEs RESOURCES.
Capital 81, 49, 1Spee1e %
. Calculation 6,0s903 Real estate, q
IA Profits OH hand 2,298g5s Bank u
9, Due hanks,...... 6bl 4 Dge from banks b