New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-04-02
Aeb Orleans aailp Grssfsnt.
FINANCIAL AND COMMERCIAL DEPARTMENT.
Heu NrIsans IIentu 1laTAa.
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Ntm 0fltaHs 1Iantu WaTAG.
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With the exception Of 3 lively feeling and action
in the general money market, the annual declina-
zion for the season In business has commenced,
though We have to note IA active and stirring
movement in the great staple for the week, which
has tended 70 keep good amount Of money
moving. The sales for the commercial week reach
rs 500 bales, against 81 500 for tie corresponding
week last year. The sales from the first Of this
month to this day, inclusive, have been $4,000.
This is Q large movement, but not more SO than
the heavy stock Hhieh has been and IL still on the
market warranted. We have now attained the
very high figures in receipts Of the staple since
the LIST Of September last Of 900 bales proper
or direct To conduct successfully the gigantic
trade resulting from these Immense receipts the
great yield ofthe Southwestern required all the
resources Of our moneyed institutions, comaanded
the ability and untiring energy of our merchants,
calling into reqnistion all the appliances Of oar
great emporium, the cotton presses and ware
houses vast drsyage investments, trying the ca
pacities Of nearly hundred steamboats, to bring
this immense crop TO market, and testing the ca
liabilities and means Of our Insurance Companies
as well as several agencies The probabilities are
that the business season will close in series Of
successes and gains, provided the propensity for
speculation is repressed.
\ The general Wholesale and jobbing trade has
partaken OF the decline applicable to the season of
the year. Dry goods, groceries. hardware and the
c0neomtiant branches Of business all feel the ad.
vance Of the season. The grocery business has
been in general highly remunerative this season
the most articles have been advancing in price
tcoffee, sugar, etc., since the commencement of
the season, which, it is presumed, has been more
gainful than a falling market
In the local and fancy retail trade there has
also been falling off; nevertheless the streets
have been daily thronged. Many thousands of
transient visitors have taken their departure but
the concourse has also been increased by some
thousands, attracted here by the usual spring
races or sports of the turf whereby @ great deal
Of money is sure to change hands. We enter the
second month Of spring under general good state
Of trade. The country has, with some isolated
! cases. paid up very well. The complaints of de-
linquency are, we are grati6ed to say, not large
4 in amount.
During the week there has been full inquiry
for money. The banks have had more offered
them than they could do. The discounts have
| been confined to about the income. twill be OBJ.
served that most Of them have been running very
close to the line. The general movement goes
far towards curtailing the desire to borrow fol
speculative tendencies. There is latent desire ts
| move in real estate-such as sugar plantations
cotton lands, well cotton estates, town lots
swamp lots and embryo sites for splendid dwelling
houses. Fortunately, very fortunately, the Banl
| Statute compels bank mandators to restrain the
incessant disposition to borrow for Interior invest
menf. A few sales of centrally located property
must not be taken as guide that the vast domain
Of vacant and unimproved ground in the suburbs
of the city or adjacent to the city is to command
the same prices during the lifetime Of the present
| generation. 1t will be well for owners of lots oil
ground not to ask too high prices for their prop
erty, thereby preventing the man Of moderate
means from investing The way to secure a,per
manent and lasting population is to keep real es
tate at as low prices as possible, thereby en-
couragihg mechanics, laborers and artisans to be
| come permanent citizens. The speculation nov
afoat in real estate bodies no good to the immed
ate prosperity of our city. Sellers of real estate
f
city, are safe enough when they obtain cash i;
stalment, and, the first note paid, they are ampl
secured. One year ago, or say in the early pal
of 1850, there was large amount of property
houses, lots, stores, warehouses, including tn
Macdonogh estate--sold and changed hands, tn
second payments Of which have been maturing 70
weeks past and are now maturing. This, with til
low scale of specie basis, has a good deal to d
with the present press in the money market, t
II which may be added the deficiency In the snga
crop. Then, again, it is remarked that the grea
increase in and surplus of the cotton crop ough
to balance the sugar. Possibly the two crop
might be adjusted or balanced in conformity wit
these suggestions, but as there are many distinct
i've features in the moving of the two crops the
suits cannot well be blended. One leads one way
; the other goes another course.
The weekly return Of the banks, made to til
Board Of Control this morning, exhibits som
changes not indicative of any increase in the lin
of discounts for the coming week. In the fir
!! place the specie reserves are falling off; in til
next place the line Of deposits is declining, SHOW
ing that many parties having money are withdraw
ing it, though in rather light way. These feature
and movements, with two exceptions, correspon
with the workings for the same week last year.
The changes in the bank movement for the wee
are
An increase circulation off,: lsss6s
decrease in short ioans OF
decrease in Exchange e, off, Of u M s
The variation in Long and Short Loans for the week
is decrease o.. Il, ees
The movements for the corresponding week la