New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-05-06
Stein 0rlsans 1aiIp Cresfem.
FINANCIAL AND COMMERCIAL DEPARTMENT.
gew 0rlsaas Htoueg HEarAet.

Na.T }
Saturday Night, May j. 1851.
The movements for the week, with one or two
exceptions, are merely a repetition for the week
ending on the 9th nit The most important change
being an increased striogency in moneyea circles
Capitalists are on the hod-ast order and are fore
ing the community to see how little money it can
get along with. Even if holders of money are dis
posed to loan, they ask rates bordering on exEor-
ton, which many parties have the holiness and
fearlessness to say they will not pay. It was sup
posed in circles that day would press many
parties. There no evidence that its being the
4th of the month there should be any extraordinary
pressure. 1t is well known that large amount of
paper, payable in our city, is owned in distant
places, great part being in the shape Of planters
drafts on their merchants and factors that this
kind of paper has been for years sought for and
purchased by Northern capitalists This paper is
called outside paper. The holders bought it for
their own benefit and advantage, and the makers
of it are under no obligations to go into market and
pay 3f886 pct. per for facilities to take it
up, under the present disturbed state Of the coun
try. They can say to their Northern holders and
creditors, if you let alone we pill pay you, but
there will be no improperly want of faith if they
also add, it is bad policy to be paying money into
Wall street, New York, to be loaned out to aid in
the attempt toerush the South. AS appears, such
disposition is evnced By the long list of subscribers
to Northern loans and Union defense funds.
Irrespective of the war, there would be very
light transactions to notice for the week. The stock
of cotton is lower than it has been for this time
for the last twelve years the stock of tobacco less
than for five years; the stock of sugar is also low,
Then Of course, we could not expect any large
transactions, even if the country was not under
| -, ! A.
view, the impression prevailed that total stop
page of intercourse with the great West would have
taken place ere this. We, however, have to note
that arrivals of steamers from st. Louis and from
the Ohio river have been reported daily, keeping
up our stocks of breadstuffs and provisions to the
demand. The mercenaries at Cairo have perhaps
thought better of their threats and intents. Our
trade is not suffering as yet from the anticipated
belligerents of Illinois. AS for those would-be
honest traders on the Wabash, who say they will
not send any of their meat South, they can rest
quiet. We shall not want it; they can eat it them
selves, pawn it for the worthless currency called
money, which crculates freely in their section
of country, worth in specie from 33@75c % dollar.
| We wish the farmers and traders of Indiana and
Illinois good time of it in holding to their stuff.
| The wholesale and jobbng business is over A
few packages of goods turned out daily, merely
perhaps to retain remembrance of the past. The
local and retail fancy trade sympathises with other
! branches Crinoline has withdrawn from the grand
Boulevard, a large share periodically and nobly
devoting their time and services to the country in
aiding and equipping our soldiers for the fields CT
glory and victory. Therefore, the retail trade as
well as the wholesale trade, is over for the season.
The money market for the week has been tend
ing against borrowers, and they who have placed
reliance the strength of their porteteuilles, are
met with rather unfavorabe responses to their
solicitations. But under cover of many applica-
TONS there are insdious attempts to induce our
banks to grant discounts, which will be forthwith
/ diverted from the State. These applications are
treated as acknowledgement, declined.
Our banks are in strong position and it is all-im-
portant they maintain it. The desire to renew all
paper universally prevails with all directors. To
\ any extent beyond this they cannot go. They are
bound, however, to furnish and provide means tic
promote the growing crops, that is, to furnish
facilities for supplies and provisions for plantation
uses, under the privileges the law gives for loan
of this character. But these loans must be mad
in an explicit manner; they must not be mixed VI
or COMPOUNDED with other indie btedness can thu
/ usual planters drafts on factors be regarded ex
planning or furnishing the proper securities fo
such loans. ..'
The bank statement for the week, with the ex
i, ception of an increase in deposits conforms will
9 the movements of last year at this time. The in
crease in deposits shows that holders of money
| boarding.