New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-08-08
sn 9rIests Htoneu alarket.
;EseEsf orF1oE, No. 10 Camp stree
1 "Wednesday n vAnfY,tr AuurISY y

gtraat
Wednesday Evening AugustT. 1851 )
There were some small sales of paper to-day a;
Inc rate of II Sct. per month. AT the banks the
{ usual proceedings Of renewing were carried out
Though IN reality there is very little paper matur
ing daily the total amount of discounted paper
Y maturing inside Of ninety days is about nine mil
lions aud halfof dellars, or a little over three
millions pei month, something beyond one hundred
Thousand dollars per diem.
The battle Of Manassas has entirely nonpIussed
: New York and ether fnaneers. The direct tax
impost, passed by the recent Congress Of the old
defnnet, is severely denounced throughout the
West. When tine tax gatherera 20 round the farm
era Of the West viii increase their denuneiation.
We are not interested in the North and do not care
TO what extent Chase & Lincoln screw their sub
( Jects and minions The State Of Kentucky has to
contribnte one million ond seventy five thousand
dollars VIII Kentucky submit2 Tennessee is
assessed at one million and four thousand dollars
N Our State is down for five hundred and seventy
eight Thousand dollars. The State Of Louisiana ID
\ divided into convenient districts. We have NOT
heard who have been appointed assessors and col
lectors BY Lincoln and Chase for Louisiana, Ii il
supposed that those tax-colectors will come along
vito Linooln's appointee for Collector of Revenue
Tor this port. We observed two Or three coils Of
rope waiting for the assessed duty and collectors
There was nothing done in Exchange 10 day IL.
yond some Light sales Of sterling at 100, Outside
rates range from 1854 @loSa and los. The banks
hold at ITO. Francs 5l56a5.o5.
We learn that the banks Of Riehmond nov II
eeve on deposit the notes Of the banks Of our civ
\ also notes Of the following banks:
AZ South Carolina Banks.
In (TeOrUiG---s NE5 4SsSa &4 553#sT 3&St55
Savannah Bank of Commerce.
State Bank Of Georgia and branches.
farmers and Mechanics Bank
Marine Bank.
Merchants and Planters Bank.
Planters Bank, State of Georgia.
IN North Garoli3sa- Y.
Bank Of North Carolina and branches.
Sank o. Wilmington.
commercial Bank Of Wilmington
bans "a Cape Fear and branches
The London Economist, Of the 18th Of July, in a
tong article on the supply Of cotton says, It will
Pc observed that they talk Of working mills only
four days in the week, under the expectation that
advanced pricea viii attract sufaeency from other
countries other than America, which win enable the
mills 10 work four days in the week: n,
But there Is another and far more conia t,,roI
element to be allowed for, which NAV nnset th 4
most cautious and wellbased calculations. Va
- y pi E0EtG4l to A
sufficient height, to such a height as wonId ha
indlspntably warranted by the withdrawal Of the
American supply for even one year ii win attract
enough from other quarters to enable our mills ia
work fonF days week. But will the price reach
this height w Ill cotton 60 up fast enough aud far
enough to produce the desired result? Certainlv
aot, unless merchants and manufacturers can be
brought to believe in the actual loss of the Amer
Ican crop !; and net only at present do they mt
believe in this but they can scarcely even Be in.
duced to entertain it supposition. The uniyer-
sal answer made both in LiverpoolandM Manchester,
and even in London, to any one who breaches the
conjecture, Is: Oh, it will never come to that.
They win make itFup before Christmas. Or we
shall break the blockade and compel a peaee-or
aomething. We shall get their cotton sonael.oaon
no one, however, attempts to suggest hoau.
We are not surprised either at the slowness of
merchants to realize the menaced calamity, or at
their caution in acting upon IFS probability The
chance for every apeculator lies between riches
or ruin. IL is and must be to q great degree q
gambling matter. II the United States crop was
known to be destroyed, there could be no doubt
what the effect would be on the price of cotton