New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-10-27
NEW ORLEANS STOCK MARKET.

The movements in uncurrent money for the week
have been light. The expected issues of the Geor-
gia and South Carolina banks, which heretofore
have been SO freely put in circulation in Mississippi,
West Tennessee and Texas, have not made their
appearance at the counters of our brokers. AS re-
CARDS Arkansas the banks, bankers and agents of
banks in Memphis control about one-haif or more
of the business of that States in fact, as regards
finance the greater part of the State OF Arkansas,
from Point Chicot to the northernmost line of the
State, can be said to form part of Tennessee. Ar
kansas financially speaking, is repudiating State
The bonds and coupons have been under the ban
for wears and though they talk largely of the re-
sources of this State, and eXult occasionally that
they have no banks to eat out their substance j;
vet the State has been under protest for years. and
only partial efforts have been made to relieve the
State of the ignomny of protest. Arkansas State
bonds and its public faith stand rather low in all
financial markets.
AS regards what is termed currency in the great
Northwest, we have not much for comment. Our
latest dates from st. Louis say that gold was eX-
ceedncIy scarce. Then it follows that the issues
of the banks of the Northwest, otherwise called
currency, was plenty. They have no regular
standard of currency in the great mart St. Louis
name of the legal constitutional currency, What
constitutes bankable funds2o It would be in
ferred that the banks in st. Louis, one and all,
were nothing more than exchange and brokers'
Offices Bankable funds, currency, gold and silver
why not add copper, are defined as the nonmen-
clature Of finance and money in St. Louis and Gin
cinnati. We refer to the following extract, from
the St. Louis Price Current, for an exemplification
of real shinplaster currency Gold, it says, con-
tinues exceedingly scarce; silver get premium,
and gold get. prem. Now, what is the standard
bankable funds, or what is termed currency Z
What bastard manner this is of conducting
finance. Cannot it is asked, the State of Missouri
have one standard, assimatng to that of Loui-
siana that is gold, and cast aside all the nostrums
of bankable funds and currency Let the banks
in ST. Louis be banks in reality, as well as name,
and adopt the system and mode of the banks of
Louisiana. Then the financial public will know
how to Judge and act. But to the extract from the
st. Louis Price Current Here it is, and what a
splendid assemblage for tea party would the
different yocabularies make:
Money is easy at the banks for frst-cass secur
ties but it is exceedingly tight the street and
among the people. Business is restricted by diff
cult navigation but is steady and in healthy cond
ton Currency is in limited supply. Bank stocks
are in less active demand, ana recent sales snow
decline. We quote Kentucky, Indiana, Ohio, Ten
nessee Gold banks,) Illinois, Wisconsin and Iowa
bank notes at par with banlahle funds Gold con-
tinues exceedingly scarce, and lc premium would
have been paid Saturday for round lots, but the
general buying rate is premium. Silver prem,
with good demand.
Selling rates of sight exchange both on the East
and South, close firm at 40l get premium for
currency and bankable funds. For gold, prem.
is the rate. So scarce and in such demand has
haen EXCHANGE that Missouri branch money has
been largely resorted to.
If the banks of New Orleans were to receive on
deposit the issues Of country mates The banks in
| ST. Louis and give them credit as bankable funds,
how many cart loads Of trash they wound encour.