New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-02-01
1eb 0rIfans lalIp GrssfeIlt.
UfU Oflfalls Hlonfp Hlmktt.

gflu 0rIeaas HloIlfg HlaAtt.
eHzscrHr ogrIrs, -. NJ Camp ssrssts
Taesday agtf. Jaiss sIs tssl.
hetlsng q en- important natRre Turned rp today
" ne money or paper market. The calls or ofser-
NE g the banks are what may be termed tie
fsaielons order, that ii, they are large and much
y sAeess q the income 1t has been bruitsd about
nave been several investments in cotton IN
isal speeHiatiye intents-that there were arer no
Wy oaes taken week before last win 4 view 81
n9inss ts.f 9 rise There Ii no prol,abaftY If tIs
fi4e % any advance being realized M. t,s..,,Y;
yes q orr banking statutes are nav ,.,,,e
~ e:fte1sso The old chartered banks a.. agts,.s
tlteir issues On circulation to a1lv exte,t a. 49,.
taey can exhibit one dollar id com 70
immediate cash liabilities, while the bants ,.ss
the general banking law have to cover sle e,,,;sa
amount Of circulation BY deposits Of STATE aud ~,
Bonds with the State authorities, and cannot isane
a o1il without the State consents. All yery ven i,
lar az 70 goes, but It is overlooked that the fres
nks nave TO pay coin for the bonds lodged with
we state Y i the received opinion that the con.
sfIfufon Of our State infbits the organization III
banking institutions unless their circulation Il ID
cured By deposits Of sufficient security. Tie con-
+
tons that may organize as banks. and which do
nov intend % make issues Of notes promises to
pay Article lis Of the last constitution saws.
Iesailars h hanktar DESIGNATING may b
ths LEGISLATURE ssl HI both eases pFasie or i'll sis.r
a'ie ample security for tie redemption The saiis III
- 1853 general banking Law was enacted bv
our iegsiature it was thought, at the time, TO be
the ne plus ultra Of legislation that 1t was
everything that could be desired iii tile way Dc
banking. inc advantages and greater privileges
granted BY the act Of ISL to the old banks Yfara
overlooked; in fact It was prophesied bY lie
friends Of the general banking law. that banks A.
ganzed under its provisions would contend xyit,.
great success against the old banks In fact That
Ihe Old banks, the e old fogies, would be swal-
lowed by the new tangled scheme Of banking on
paper tfedils. lime has confirmed the then re- |
peated remarks Of old and practical bankers and I
merchants, that bonds and stocks are not d sure /
ana legitimate basis for banking, in community /
where there are two distinct systems and modes Of I
conducting banking operations. We will supppse +
That bank il duly organized, with d certain
capital, the same all paid up in gold and silver.
and in conformity to our general banking law. he
tore the issuing of note this coin 50 paid must lie
sent 70 Europe, or elsewhere, to purchase some
splendid looking engravings, otherwise called
bonds, which must be lodged at Baton Rouge. to
.afclcally secure the bills Of such incorporation
u VI our banking corporations were working 1
ahder the same laws, there would, probably be No
Tor modification or change in the stat
ates. u IS suggested that the law can be amended
90 that any corporation pursuing banking priyi-
leses can be placed on something of an equality
with the most favored institutions: that il aholsb
the depositing Of bonds and stoeks--giyinr ii Ia
state authorities, the s&ne as now, the general
control of the bills notes intended for circnla
ton, BY registering every note and allow anv
bank % issue notes TO the full amount Of capital
sheh circulation to be, at all times, represented by
one lfa " com, the other two-thirds in CONNER
clal paper, maturing within ninety days: and every
hahk to pc, as now, under the supervision of the |
bGafd OF currency, and amenable to the same nenal
ties tof any violation nfraetion Of tile statutes
Whether these suggestions would meet the desires
OF banks established in the country il anather I
question But we will put d question suppose d. I
incorporation is organized with the intent of ob.
Whiting all issues of bills, that is, no notes arc
Issued Whatever; what then, sure enough what
then! There u nothing in the constitution OF the
general banking law to prohibit or restrict such in.
corporation from banking gold and silver alone.
We shall allnae to this subject again.
There was nothing done in stocks or bonds TO-
day IN fact, the share and bonds market il tull
and Illuminate. Holders Of money prefer to wait
chances In the paper market.
The Exchange market was on the $3.50 order ia
lay. The counter rate at the banks for checks on
NewYork was uniform at Il discount, though two
oanks held at sG4. Outside there was no change.
md we quote l6a and ] dis. Good time bills adj
Tanced fraction Wenote sales Of $3.50 900 sixty
lays sight on New York and Boston at Hall
lis other good bills at from 2. q, 2aa612a dis.
foreign exchange was superlatively inactive or
lu. Sterling, clear bills was held at all sorts of
'fiees, say from 1914 io73@lDs. Document bills
i from lo65@la7}. Some few transactions were
oneluded to-day. In francs we did not learn Of Il
ale, but rates may be placed at from 81 i0a5 80
p to a.25, with bank drafts aud Al drawers sigma
ures being held at 5.23I @5.22l. Dealers in gen
raj appeared to be very shy to-day. Possibly the
reaks and actions Of Mr.. Napoleon the Third may
e considered for if he creates or kicks nh another
iss, francs or French exchange must take the
hanees of q general disturbance of finances and
olftics in the Empire.
The following figures give the quantity Of cotton
Il hand in Liverpool on the 3Dth December, 1853.
Ee gave yesterday the total imports for the year
he following table fills up the void of each desig-
ated quality and country Of production.
ANIMAL STATEMENT OF Stock OF Co1yoS IN
IyERPooI-The following statement is up to De-
ember so, 1859;
Bales.
~ is,Hii. 6tiau
taiica Sea island 400
oH 8. y s5G0u
.ll2.abn
UNIT
Total american A. sOa9ao
THAN MI Il $50
anna anu Nafalo. CLIO
afalihah $3.50
re!a Brazil $500
stteftt., ~ -
lfietl 4a
est ihela 500
Total West India go
~ ptnf. 1900
t NJ 934 100
iufas .......... LILO
Il