New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-10-11
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/ REscEs5 oxFigs4. No. 70 Camp !,


Thursday Evening Oct TO- 1861.
There was very little movement to-day in finan-
cial circles in fact, twas war and fighting, bat
! ties and prospects of battles money lender is
scarcely thoaght of or remembered unless lie has
in some way or another Contributed to the several
associations. The general impression is that
q capitalist, money holder or real estate pro-
prietor, has either got to shoulder his musket and
aid in protecting his property, or be must hire some
one to do it for him equenty H property is to
be protected from the Vandals of Lincoln, Seward
and Co., the holders of it must come forward and
furnish the material OF war; their cash, There are
many real estate proprietors who have been very
remiss 10 opening their purses it is mot too late
vet to come forward. Az
There was the usual routine Of business gone
4 through at the banks to-day. The cry for small
notes and change still continues. The circulation
Of the banks still continues to increase at the rate
Of goo per day. The city issues Of small notes
amount to about sac, 900. Some of the banks have
paid out all their fyes, and it would be the worst
Of policy for the free banks to expand their circ.
lation at this time in fact, there is not sufficient
materialfor paper, paper itself in the Southern
G0nfederacy to admit.o of an issue of one hundred
thousand i've dollar notes; SO the most reasonable
way to 0bviate the requirements for small notes is
for every person to curtaif their expenditures and
spend fifty cents where one dollar has been hereto.
= fore paid out. Economist and retrench. ss
The foreign exchange market continues to ad-
vance. Small sums of bank sterling were sold to-
day at l25. We quote extreme rates from l20a
1856 Francs 5.0e@e4.50 on Richmond par There
were sales of gold to-day atl15. Dealers however,
do not pay these rates. Treasury notes appear To
answer all the purposes for local transactions.
Silver coin ranges from l05AllG.
\ There have been SO many commendable remarks
1 en- the article on the Confederated treasury notes
which we published last month, that we are con-
strained 70 republish the same, which we do nearly
entire. We prove to the world that there cannot be
any better security, any currency which ought to
command the confidence Of the people sooner than,
the notes issued under the authority Of the Com
federate Government If 1t should turn out that
the South cannot maintain its independence then
there will be no necessity, no use for gold silver
or any kind Of money. Money viii not be wanted
il we should not succeed. AT the present time we
deem the Confederate treasury notes Just as safe
as the Bank Of England notes.
The following extract, from remarks on the Con-
federate issues, was published in the Daily Crescent
on the 14th of Sept, 1861:
The citizens of the Confederate States will mate
rally derive much qualification, and experience an
honorable pride I'M contemplation Of the fact that
the treasury notes and bonds issuedby the Govern
ment of their affections constitute security which,
for Intrinsic WORTH has few parallels, aud is not
surpassed by that Of any other public security in
the world.
If the Confederate Congress issue treasury notes
TO the whole extent authorized by the aetof An
gust, 1861 say up to $500 geo 600, these notes by
the war tax provided for their redemption, could
be funded and easily paid off ia very short time.
Before illustrating this assertion, it may be pro
per state that according to statistical tables com
piled by the late United States, the assessed value
Of property ia the Southern States, affected by the
war tax in question, amounts to six thousand mil
lions ofdollars. Surprising an issue of Confederate