New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-02-28
gte0 Orleans 1aiIp Grtsftnt.
gIElHcIAL avn eorhERcyAI DEPARTMENT
gttp 0rlfaRs 5tlunen gEIaEaet.
There vas Iittle or no life in the money market
to-day. Buyers Of paper feel dtsno7:f D it,sta IN
CRssF9sr 9gETcE. No 10 Gang street. !
Wednesday Evening Pes. n. 1851. /

Wedneafay Evening, FEB. n. 1851. |
There was little or no fife in the money market
to-day. Buyers Of paper feel dfsro75i 70 n3BJs IN
limited sn715 in twelve months pa2ar, proTiJea !
fAe7 -ta 4a'agz tao;s OWE terms. WY lfom fz0gi5
g<., The eDlten ard sugar interests e&aD4c afv. !
port .ae-a rates; while VS. 90 no; in5ead 20 sR- !
courage the Ieg5t Disregard ri 9E4as37Tss- 81 II
does no5 require ang-yaFy' a5sa.a calculations 10
artiEe AZ SIC Conclusion ta41 the g1a0Ng interest
cannot s1pport lEf5'j I42f nsaRc= With brokerage
aE5 commissions to he Added. Eh5s swo Or three I
NJ oar usags b4vs az much hozipesa as Iesi-abla,
olh=ra have lz- g7orh 10 nain4sfn sleir regular
discount line. The iron law, rather the mis-
noner, general banking law, restricts over eight
millions Of dollars from being employed coeval
with the wants of the agricultural community. We
observe bill has been introduced in the Legisla-
ture to place all our banks on an equal footing,
and that they shall charge only 8 yet. interest
the maximum. We have not received copy of
the proposed bill. If its provisions restrict the
rates of interest, then the tendency of the bill will
be of the most pernicious character. What will be
the use of enacting statutes which will be violated
every day in the three hundred and sixty FIVE? We
thought the repeal of all laws regulating rates of
interest, passed last year. obviated any further
legislation. Money is nothing more than a COM
modify. True, iii regulated by law as standard
of value, that is, many grains and pennyweights
of gold are regarded Us possessing so much value,
designated as an eagle, double eagle, and SO
many grains of silver shall be deemed az fifty
cents, and do laws say that S. Ibs. Of corn shall
constitute busheE, and 30 lbs. of oats bushel
But we desire our Legislature not to be passing
statutes restricting how much farmer shall re-
| ceye for his corn and oats. For then our Legsla
| lures might with the same proprety enact law
that cotton should be sold only at designated
prices as well TO enact how much paper, or
promises to pay shall be allowed fos dollars Our
| currency, our banking system, does not require
| any legislation beyond the repeal Of the general
banking law, and placing all banks an equality.
| This can be arrived at without any innovations on
the constitution. We trust our legislators will dis
card all attempts to regulate the of money, and
| cease tampering with usury laws.
The Exchange market to. day tended in favor of
drawers and sellers. True, the demand at the
bank counters was light for Northern funds
The rate for checks steady at 402 discount.
Outside the transactions were free at from and !
discount. Sixty days sight was quiet, aud held at
stiff prices, say 2B@2i and q discount for prime to
good; 2903i for fair. Some jocky bills turn up,
which are hard to pass at the outside rates. Ster-
ling advanced another fraction to-day. Sales OF
clear bills good and AI were made at lt430l65
extreme rates ranging from I044 up to l05 There
several transactions in document bills at l0S
0l03 and 1888, say in lots Of 500, 500, 300 and zoe
bales. For some grades of francs there were very
light offerings. Tue demand was also correspond
ing We'have to quote from 5.52a0540, and very
little doing previous to the close of business The
Bank of Louisiana received to-day s350,f00 from
France, all in Napoeons. The steamer from
Brazos brings. $4,000 in silver, which will help
along.
In Stocks there were some negotiations going on
which may result in sales In bonds we did not
learn Of sale.
We have often remarked on the general prolific
ness of the great Northwest, that is, the North
western States, carved ont of the great North
, western territory. The State Of Wisconsin,, Of
Ousconsin originally, is one of those States. Ii
some respects it is of the States and will pas
AL as regards banking institutions or shaving as
sociatons. We dislike to call them tonsors, as
might be rejecting on those useful members of tn
body financial, which so often render service
the afflicted in great cities. It appears there ar
now in the State of Wisconsin one hundred and tie
banks, which will do very we'll, considering th
|" population is only 1853 900. This will be allowin
IL bank to every 1886 inhabitants. The circulatio
of these one hundred and ten banks is nearly fou
and half millions of dollars, secured by the TO
u lowing stocks. The most remarkable point in thi
IL free banking system of the Southwest is the amos
. total abnegaliOn Of coin to meet circulation, e
4 alone deposits. The total amount Of coin in tn
vaults of the one hundred and ten banks fh
3lst of last month was ffty-eigN thousand sin hun
4 dTed and tJiyone dollars. 1t is no wonder tina
! distress and bankruptcy attend the commercial
and social relations Of this ought to be flourishul
. State. resident of Wisconsin could not, with hi
pockets filled with the bank issues of his State. pa
for dinner in city but with barrels of -four
sacks of corn, sacks of wheat, pork and bacon, HI
could command gold and silver and our sugar an
molasses and coffee. At the same time, dealer
and brokers Camp street might purchase Wis
=. consin bank notes at from 20(130 get. discount
= It would be rather a hazardous business to iuves
in issues of banks which only show coin in vaul
, equivalent to one and onethrd of cent to cireu
l. lation.
l. The Bank Comptroller of Wisconsin makes tn
following statement for the half year ending 8 Is
January:
of Banks in operation.
t With circulation 495,
10