New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-03-18
Nsb 0rleans Dailg Grestelrt.
FINANCIAL AND COMMERCIAL DEPARTMENT
gtu ORLEANS 1flontv alarhet,

far from being settled. There is no real prospect
hardly reHIote one-of any peaceable settle
ment between the confederated States of the South
and the Northern States of the late Union On the
general surface a3 it were, Of the movements
Transporting from day to day in our metropolis,
quietness is indicated, but the close observer of
events can discern that the professions of peace
from the Northern Government at Washington are
deusive-only expressed for the gaining of time
and to ln the seeded States and to eatrap them
into false security. Commercially and financially
the position Of New Orleans is strong and tenable
The movements of the week have not, however in
the aggregate been to the extent of the average
for the season. The agricultural prospects in our
State and the States adjoining are of the most
suspicious character. Planting and preparing for
large crops are the chief features, encouraged by
the satisfactory and favorable weather; and if our
agricultural community will discard the endless
and unmeaning reports, re-reports, verbiage and
general political dispatches forwarded day after
day over the telegraph wires, general relief would
follow, and the excitements following would be
greatly abridged. The telegraph has become the
vehicle Of disseminating inaccurate and unrelia-
BILE intelligence. Under great falling off in receipts
the great staple has been remarkably well support
ed, in face of continued depressing accounts of
foreign markets. In some respects the shortness
of crops in some sections will be severely felt
financially, as hafcrops at u cents per pound are
not as remunerative as full ones at lower prices.
The general sales of produce reach three millions
one hundred thousand dollars. The usual demand
applicable to the season exists for Western pro-
duce say flour, corn, pork bacon, ETC., for the
Alabama, Georgia and Texas markets. There has
also been a fair demand for some kind of bread
stuft5 for Europe as also the West India markets.
Our market offers greater advantages for the pur-
chase of breadstufs for Cuba and the other West
India Isles than any other market on the sea-board
from the Rio Grande to the Aristook.
The tariff of the Confederate States is now in
full operation, and the submission States will no
doubt avail of the advantages of continuing i'm
portations as heretofore through our port, the
same. AS the warehousiDg of merchandise, or en-
tering for transportation to foreign countries, has
not been abolished. The value of our inland trade
can now be estimated with some degree of its
value and amount. The duty on Kentucky bag
ging, say Is get, will, of course, enhance its
value, as well as the duty on bale rope will be 10
get, assuming that such rope is made out of grass.
IF manufactured from hemp Is pct. is the rate of
all such manufactures. Whether the increased
price of Kentucky bagging will have any great in
luence on foreign baggng, is not yet solved.
There has been growing demand for gunny bag
ging or cloth for years past, and under duty of
Is get, which was so much paid by our planters
for the protection and benefit of Kentucky, gunny
cloth has been making its way in the cotton-grow-
ing region, and with Is get, and over fifteen
thousand miles to bring it to market it can be sold
at from two to four cents per yard less than the
Kentucky.
1t appears novel to observe the clearances of
steamers every day at Custom-house for the
different ports in the ACKNOWLEDGEMENT or foreign
States OF Arkansas, Missouri, Tennessee, Ken
lucky, Illinois, etc. The course of Custom house
business, with the revenue of the Confederacy,
will be more fully understood when the system has
Tin financial parlance) worked for short time.
The general wholesale and jobbng business for
the week has been with some branches under I'M
provement More merchants and dealers from the
interior have been among our dealers, and under
the benefcent and reduced imposts on foreign
| merchandise, our importers will be enabled to
undersell those of NewYor and all Northern cities
Manchester, Yorkshire, Lyons and Germany, will
now have an opening and market for their manu-
features at low rate of duties. We shall there
fore, witness in market in another year buyers
and dealers in the dry goods trade from cities and
sections of the country which are now entire
strangers to us. The reduction of duties on i'm
ports, as contemplated by the Congress of Con
federate States, will cause New Orleans and other
ports in the South to be nomnally as free ports.
The tariff bill, enacted by the Congress of the late
United States, will be productive of immense good
to confederacy.
The sales of merchandise with our jobbers and
retailers this week have been large as the state
of the two nations would warrant. The stocks of
goods are ample for the season. Dealers, traders
and merchants from the interior need not be de-
tered from visiting our city on the grounds that
they cannot obtain credit, for some of our iobbers
say that they will credit all who have paid up so
yet. of last year g Indebtedness and can show that
they are solvent.
Crinoinedom, millinery and the grand boule-
ward, Canal, have indicated fourishing crcum-
stances for the week; yet there is a large falling
off in the amount of sales from last year. Short
crops of cotton and deficient details of hogsheads
of sugar cause a heavy difference in the great re-
tail trade of our city.
The grocers say that their trade is dull thew are
doing nothing nevertheless they are turning out
daily more or less supplies, which ignore the re-
marks that there is nothing doing. If the same
terms of credit which were given last year and the
year before were allowed this season, there would
be very light complaints of general stagnancy in
trade at this moment.
We have from day to day reviewed the money
and paper market There was no change to-day
other than some parties feel some anxiety about
realizing their cent per cent; that is they cannot
invest their money on satisfactory conditions to
themselves. broader scope, in their views has
been observable within two or three days past,
and possibly when they realize that the South
ern Confederacy is a fact, and an nstitution-not
the chameleon hues of Northern stock jobbers and
speculators-they will modify their views. The
rates of interest may be said now to have declined
to 10 f9ct. for long-dated paper. For paper matur
ing within $50 days the banks take nearly all of
satisfactory names, though the offerings this week
for regular discount have been in excess of the in
come, which, however only gives mandators
broader scope for selecting.
By reference to the proceedings of the State
Convention, it will be seen that the defects in our
banking system have been taken into considera-
which will receive immediate attention, to revise
the banking statutes of our State, as will be OBJ
served by reference to the ordinance published in
our Saturday issue. The movement seems to meet
with general favor, though, like all great and I'M
portant changes there are some objections, which