New Orleans daily crescent., 1861-08-28
Neb 0rleaas Mlulltu 8larket.

CRESCENT 0FFIoE No. 10 Camp street;
g5 Tuesday Evening, August Il. 1851.
It is hardly necessary to refer to the summer
stagnancy Of affairs to confirm that NE have very
I duli market, irrespective Of war Influences. IN
and about the banks WAS remarkably quiet. On
the street there were some small sums of short,
dated paper negotiated at II sset. per month.
The new issue Of Treasury notes Of the Confeder-
ated Government have appeared on the market.
In the sale Of commodities they are received.
Some complaints have been made that the brokers
and dealers are attempting to diseredit the notes.
This view Is founded altogether in error. The
greater part Of these Treasury notes will concen-
trate ID New Orleans, say to fifty times the amount
Of means brokers have to purchase. These notes
are not created legal tender by Congress, they
ought to have been. A holder Of them cannot pay
note Id bank no more than be can with silver half
dollars. Some of the banks may or will receive
them. pay them out and regard them as currency,
and give them tacit legality. The cause Of their
being below par arises from the fact that no per-
feet agreement has been made among the banks to
recognize them as currency AS regards the
course the brokers pursue, they will buy and sell
them At from one @@s profit possibly gact. Let
lus Illustrate an operation. A merchant has mer-
ehandise for sale and is offered Treasury notes-for
II but before confirming the bargain, he goes TO a
broker and asks him what he will take them at !;
he obtains ths Information and afranges his move
ments accordingly. He receives the notes, and if
be cannot pay his obligations in bank, he has, to
resort to the brokers to help him out. The broker
helps hiIn out by taking the notes of or or more
aet. Discount. The broker very gladly would sell
them 10 the first applicant at d vet. profit; if
be meets with q purchaser well and good, if he
does not the notes remain in his till. The brokers'
and deaiersi III New Orleans have not the means to
absorb d fltieth part Of the notes now coming on
the market, 10 more than the banks in New York
can absorb one hundredth part Of the Black Re
publican Treasury notes now on the New York
market at 50l0 Fct. dis. on the face. In all pro-
babiIity the Confederate Treasury notes viii pass
current, as silver coin Of the standard Of 1853. If
the banks receive and can pay them out, all will
gosnaoothly. But it is ridiculous to suppose that
our banks can receive them deposit on one side 1
of the couuter, and pay the depositor's checks on
the ether side in coin. This would be exacting too
mnch In all probability some arrangement will
no made to obviate any great depreciation
The exchange market offered nothing for remark
today. Some choice bills were placed at lo6@
9iosa Bnt most buyers decline to pay more than
l05- The banks sell some few small sums over the
counter at l0s. Francs we haYe.not heard word
+ Of for week.
"a Stocks there have been some sales, say rs
shares City Railroad Companyat l25, and so shares
Of Bank Of Louisiana at l40 net. OF course, ex-
dividend. Holders Of stocks do not evillce any
desire to part with them at wouldbe buyers offers.
Nothing doing in bonds nor in miscellaneous stocks
in general. Isl Z.
The following article we take from the Nashville
Union and American, of the 22d It speaks for
itself, and the suggestion is worthy Of Me highest
consideration, There are very few subscribers to
the Gonfsderated loan in Louisiana but what can
slay out % the interest for five years at least:
ao tAa editors of the Union and Americsn.l
INTEREST," ON CONFEDERATE BoNDs.-sAlloW me to
ASH yoa 10 suggest 10 the holders of Confederate
States bonds that they will not, during The ,ear
require the payment of the interest coupons at,
taehsd thefeto They have only ten years to run !;
d ls isb Us show our glorious young Government and
Ihe whole world that we are not only willing to
wait for the iiateres hut viii contribute the priacl
pat, II necessary, TO drive the Lincoln hrelings
irom onr soil, and under the favor Of Proyidenee
establish our Independence. * 's,e''ss' =
VIII not every newspaper In the Coufederaey
pabliah this request? Every bond holder Will. i
am sEres be glad 10 agree TO it. "'f'