New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-01-05

TALK ON CHANGE,

Inc nags were tolerabIy well thronged Yester-
| day. The recommendation of President Buchanan
to observe the 4th as day Of fasting, prayer and
humiliation, received very little notice. There was
| no time for delaying the payment of obligations
and there was some very fast proceedings in
! and about the banks. Some of the temples of re-
| ligon were open and divine service performed
therein and possibly here and there a strict dis
clpllnarian i'll creed might have observed the day
There was no fasting in the way of business in and
about the temples of mam16n, nor in the usual in.
dulgences of eating and imbibing the good things
attanable in our midst, and the talk was not one
| person in twenty on our flags thought that TIE
great 4th of January was set apart as a day of
prayer and fasting. True two or three disciples
Of mammon, not located on rue Carondeet did
close their Offices, but some cynic remarked they
| required praying and fasting. The weather was
remarkably mild and pleasant, and the streets in
general were thronged. The Post-offca was closed
at the usual hour on holidays, say IL O'clock which
occas!onod some surprise among those not posted
up-some gOod-natured wag having given out that
the PostotTiCe not intending to await the election
| next Monday, had taken time by the forelock and
| already seeded. The Customhouse, in the east
part Of the grand caraYansary, was also closed at
the usual hour Then it was bruited about that
Collector Hatch had resigned, and that New Or
leans was about to be declared free port There
was some talk that three prominent cooperation.
lists did actually abstain yesterday from the usual
routine of II O'clock 1fais, ,a'nporte general
trade and talk closed yesterday very encouraging.
There was also some talk about the sovereens
and twenty franc pieces expected daily from Eu.
| rope. They are not legal tender, but they will
do we'll for specie basis, and as our Branch Mint
is rather slack in operations, from lack of bullion
and stuff for recoinage it will do very we'll to give
some employment. Sovereigns will not pay notes
in bank. By comparing the sovereign with our
present gold eagle, the sovereign is worth 81 Sc
and fraction. We are not aware that cotton fac
tors would take them at this rate for cotton there
fore all the gold coming from Europe must 60
through the process of reconing before it can be
| used as a legal tender. However, it will do very
well in the vaults of our banks as general basis
that is, for those banks which are receiving it for
returns cf exchange.
There was, of course, the general talk about tb~
upward tendency of cotton. How high wip It &c,
is frequently inquired. What with the advance in
cotton and the increase in the value of breadstufs
in England with the falling off in importations of
general merchandise into the United States at all
the ports heavy balance of accounts will be
charged up, and gold must continue to come from
the other side. Then again the decline in the de-
mand for dry goods WILL it is supposed check tie
consumption of the staple in Manchester only for
the time being. Twelve cents now for Middng
cotton, exchange l0l freight 1l.1Gd., must COM
mand in Liverpool warehouse S17. Planters who
have been holding back will now find our market
amply remunerative. Speculation may drive the
article higher, but at what prices consumption will
be checked remains to be asccrtained. We hope
Mr. Bull will not run the King high up, then turn
about and raise panic--depress the article as in
1857.
The freight market is somewhat exercise,
There are very few vessels disengaged. Perhaps
the present rates will encourage all the uuemploy-
ed tonnage to come South. 1t is well known lat
the hundreds of vessels which went from Northern
ports last fall loaded with breadstuffs must be re-
turning ere long, and with decrease in cotton re-
cepts, freghts must, of course, be affected.
The weekly coffee circular of Col. Lonsdale, Son
Il Co., show fair weeks business in the berry,
the receipts being 20, 600 bags. There is however,
large decrease in the imports from last year.
that is, if 10000 bags difference is termed large
There is some variation in the prices from last
year, rather in favor of this year, but importers
make from 4@5 f9ct in exchange over last season,
promising that the importations are payable in
London.
There was considerable activity and animation
at the sugar depot. The saccharine is in good
feeling, and holders begin to feel as independent