New Orleans daily crescent., 1861-02-09

In the general uncurrent money market there
have been very light offerings. Under the varia-
ton in exchange, the rates for distant bank notes
have improved, yet they are nominal The Legs
lature of Kentucky have commenced tinkerng on
the banks of that Statethen there are other kinds
of tampering with the currency. bill is about to
be introduced to prevent the vaults of the banks in
the State from being drained of specie by brokers.
What smpletons there must be in the Kentucky
Legislature. 1t is not supposed that such foolish
proposition emanates from the banks of that state,
as they have honorably maintained coin payments,
and redeemed their obligations through whatever
source they may be presented. All banks pro-
perly conducted can protect themselves against
brokers hostility. In Indiana they are endeavorng
to amend the charter of the Bank of the State of
Indiana, to create more branches and extend, of
course, the paper system. In the name of common
sense, what does agricultural State like Indiana
want of so large q brood of banks. The banks of
Missouri are moving on as we'll as could be expect
ed under the suspension system. The Exchange
Bank of St. Louis still holds on honoraby to coin
payments. As regards Illinois and Wisconsin bank
issues, they are very scarce in this section; they
range at from l5@25 f3ct. We much prefer the
corn, wheat, pork, ETC., from these States than
their bank notes in exchange for our sugar. Coffee
| molasses, etc., and all balances we will pay in
gold.
| There has been very little done in coin this week
The receipts of Mexican silver have been S95 ,000
| Eagle dollars have been sold at 103f and l031.
American silver coin is taken over the counter at
| l461ll and discount, just as it chances. Land
| warrants are dull Georgia and South Carolina
| bank notes also Virginia, North Carolina, and
Alabama notes, are readily purchased by brokers
| and dealers at rates running from down to 10 %
| CT off.
The New York Herald, of last Monday, the 4th
| instant, says:
There is no positive change in the money market
since last week, but the supply OF money Is, il any
| thing, rather more abundant. On Gull the brokers
are borrowing at various rates from SOL f3ct ac-
cording to collateral, amOunt borrowed, etc. 1t is
difficult to place large sum above five, but parties
who go in search Of money on railway stocks gen.
| erally pay seven. The choicest mercantile paper
goes at 49ct. This is, however, strictly prime
paper. and the names such as are not likely to
| be injured by present complications of politics.
Ordinary good paper, such as used to go at seven
| before the election, sells at S(9l0 and u, and
very fair names can be bought at l20l5 f9ct. The
names most carefully avoided by lenders those
of parties who are supposed to have heavy amounts
due to them at the South. is, OF course, impos-
sible to form any accurate guess at the amount OF
the Southern debt to the North at the present time.
It has been suggested by some leading bankers
that the aggregate amount of SoHthern Indebted
ness to the North must be not less than sixty mil
lions of dollars at least half of which must be sci
down as very doubtful. But there exist no data
for reliable estimate on that point.
Foreign exchange is dull, at small advance
over last week. Leading bankers ask 10Y for the
sixty day bills London, and san for francs
At these rates there is margin for profit on ship
ments of specie from Europe to this country, afte
freight, insurance and commissions paid still
the rate is considerably below the conventional pa
between the two countries. 1t is not likely tba
any more specie will come here after the steame
of the oath January arrives out; but between th
and then four or five more millions may be expect
ed The future course of the foreign exchange
market will depend largely on political events; !
any compromise be effected at Washington, ex
} change will become active, and business VIII re
, vive. If, on the other hand, matters remain un
| changed, or grow worse, so as TO create iurthe
interference with cotton shipments, the supply O
bills will fall of, and the market will again for
time become stagnant. A few purchases Of South
ern cotton bills for New York account are belnE
made at Savannah, Mobile and New Orleans; bu
81 rates are very low, especially at Mobile, from
which port ships going to sea with State clear
ances.