New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-02-11
Nf6 OrIsans 9ailp Grestsnt.
SATURDAY MORNING, FEBRUARY II, 1860.
TALK ON CHANGE.

Matters and things moved along very smoothly
yesterday on Carondelet street. There was some
slaekness in exchange operations. The amount
offered was less than expected, and it was talked
that the purchases of cotton the last week not
altogether for foreign account, but that some trans
actions were made for local account and then,
again. il was talked Of that the sales have not been
go large as reported or said to be. 1t, however,
makes no difference to factors for what account
the purchases Of cotton are made, SO long as they
get their pay. The purchases may be for regular
spinners in Manchester, for account Of Liverpool
importers or for middle men; they may be for New
York jockeys, or they may be for the King of Tim
buctoo, or they may be for rise, perhaps piling
one bale on top Of another; but it does not make
the difference Of a continental dollar real red,
50 long as the money is paid when called for. It
is manifest, however, that the factors Caron-
delet and enVirons, with few hundred Of planters
who are free from debt, can, in great degree, in
luence and control the cotton trade of the world.
In fine, they can dictate terms and conditions to
the great Manchester supply association, and de-
feat all minor combinations concocted in Europe.
of course it would require time, with large re-
sources, to perfect what is here believed can be
carried out
A most important project is now in contempla-
ton, and can be carried out, that will place our
emporium at once in an independent position and
free us from Northern New England thraldom.
1t is no more nor less than the organization of
line ofscrew steamers, six in number to direct
between our port and Liverpool. Proposals are
now before the public for the furtherance and
carrying out Of this measure. Our cotton factor
age community, with their friends, can aid the uns
dertaking without the least inconvenience. 1t
would. cost only one million of dollars, or that
would be the amount Of capital required to- build
six screw steamers. To explain the advantages of
such line is almost superfluous at this time. II
would bring to our city large increase of popu-
lation such as the enhancing business Of our city
requires in fact, thousands of emigrants who now
70 to the great West via New York would come
direct hitler. We will, however, consider emigra-
tion as a secondary consideration. The large in
crease and direct importation Of merchandise is
the first measure to be considered. Many millions
of dollars in value of merchandise, which now come
to us via and through New York, would come
direct to our leyee free Of many onerous charges
and exactions. Our cotton factors and our cotton
growers are, ought to be, interested in this
measure than any other classes Or branches Of our
great and increasing trade. From estimates he
fore us, made out by parties conversant with ocean
navigation and maritime expenditure it is believed
that line Of six screw steamers TO run between
here and Liverpool will return an interest or profit
equivalent to twentv-four per cent per annnm
But suppose the investment should not Weld over
ten or twelve per cent the pride and ec1at of
having direct communication with the best ems
toner of our soil. nhourh a eompulsorv oneA
would be sufficient return for the Investment II
would only require the paltry or insignificant s,m
of five hundred thousand dollars To be taken bv opr
community to carry out and perfect this line. The
other five hundred thousand dollars would be i'm
mediately taken in England. It is hoped there is
ample energy and sufficient resources, with perfect
willingness to embark in this project We will. in
a day or two bring forward figures and estimates
in fayer of the measure
As usual, there were some passing remarks
about the stare of water at the mouths of the
river. The season for the mud lumns or Mmps of
mud is al hand. The depth of water on the main
bar is IL feet 1t has been down to is and l6. but
some how or another there are very few vessels
detained either inward or outward. Last wear
this time there were between eighty and one INN
dred vessels at the Southwest Pass.
Our right hand cotemporary (the Picayune1 in
forms the public that bill making appropriation
Of $G40 600 to keep the passes Of the Mississipni
river omen, has been vetoed by President Bueh-
anan. Ii our erudite contemporary had piven or
published the bill, or whatever act of Congress- Mfr.
Buchanan has returned without his approval we
could understand it. This is the first ntjmation of
an appropriation of s640 600 we or the pnblie have
heard Of as being passed for deepenino Tho n,otls
of the Mississippi bill was passed at the lastses.
sion Of Congress regarding the balance of an an.
propriation of $500 900, say about $40 ooO which
lie President retained and has now ratnrned TT
anv act has heen passed annronriatno se 40 nm f.
the beneft of tbe montl, of the Missss;nn; r;uor
va sbonld osteor Il fa,o, 10 ho fnrnsI,ad iii,
orv Tr,a tbera ,as ! to1oaronr,;a a;s,,n4at,
sa vino n hill had heen returned With oh;ootiona
and ollnainp = ia amount of
had exnended for ;mnroynp mr. ottemntin ~ ~,
nrove chonnals a tba har Tseoo ooo, ,,;t1e,t
bonost Tbo talt ia t,,t t,a iii, rat,,a,aa -. ::
ooa,a y. a. s7n ooo ,h;I t1o.o - =
i'iahe oili W. = 'ee nas peeh VIII passea 1of
ahfVo'o, NC slissil nc Sifa " nave copy 10 know
what the PRESIDENT does object to. In the mean
time the talk is, that tunnage duty on every yes-
sell onoht to he axaeted to provide a fnnd for loo
~. +Io ,,.esos= o1aor. +to4 !, 10 f,o,,,,.a -
- :, ~, @ oee iio'
PtoNiae ehe insa'' @ hieaS - eiuliei pelht lalhea
DI, tilau IS, IL lle cndnnel or Tile bar at the