New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-01-21
Ue6 6Fleans lailg Crsstent.
FINANCIAL AND COMMERCIAL DEPARTMENT
JltU OrIfaus MmrtV market.
CEEscEgT OrzloE, II. 10 carnp atreot,


CRESCENT OTgrcE, No, 70 Camp street,
Saturday Night, Jan. 10. 1851. : |
Notwithstanding the excitement, feeling aad gen,
era disturbance in the political position Of the
country, movements in produce and exchange
have been Of a very respectable amount for the
week now closing. The sales of cotton hare not
been to the extent Of last week in fact the sapIe
advanced too rapidly between the 18th of Decsm- |
her and the 9Th of this month for the market to |
meet the support that regular and steady rise |
would have created The movements This week
have been Of respectable amount, reaching 81 I
900 bales. Of sugar, there has been sold 5000 |
hog8heads. In Western produce sales have been
very large. Business has, however, had to contend
with much Indictment weather, and the cotton
trade with advancing and firm freight market.
There have been many doubts in regard to the
safety of shipping cotton in New England or North.
ern vessels. There are no reasonable grounds for
experimenting that cargoes of cotton will be cap
tured or detained by foreign cruisers which means
The naval forces of What was the United American
Government. Undoubtedly there would have been
double the quantity sold If our currency was more
a ruling with the Liverpool market, for it is |
manifest that lie. for Mddling, ID. freight and IO3
for exchange requires I'D. in Liverpool and |
though the political disturbances have their effect,
yet cotton maintains its own, and if one hundred |
sail of vessels obtainabIe an active business
would follow. The sales of produce all round foot
up three and quarter millions Of dollars. The |
sales OF breadstuifs have been excessive with daily
additions to the supplies, and further large ship.
| ments expected. The cash system, the ease and
| facilities for reaching market the pFomptness
and dispatch which forms the essential features of
our great Western trade and low rates of charges
attending sales by our regular Western merchants
and dealers, combine to give market decided
| preference over those of New York, Boston and
other Northern places We're lines of steamers
now in operation between New Orleans. Liverpool,
| Bremen and Hayre, our position and trade Woud
be rapidly approaching the highest pinnacle Of
fame and prosperity. With eighteen or twenty
burthensome propellers engaged in our great carry
ing trade with Europe, what would our position not
be at this moment? It would not be taxing cotton
with six to eight dollars per bale to transport it to
| European markets.
The business with the interior this week has
been large. Communication with the great artery
of the Mississippi Cred River) being free cotton
has been flowing in rapidly, and will continue for
few weeks. The purchases of produce for North
western Louisiana, North-ea Texas and all the
vast regions lying on Ouachta and Red rivers have
been large and other kinds of merchandise have
been freely shipped. The Stocks generally, in
those sections must be greatly reduced, or the peo
pie, planters and merchants intend laying in ample
supplies to meet most every contingency. These
movements in produce are throwing into use and
circulation large amount of money. The demand
for produce, also including sugar and molasses for
Alabama, Georgia and Florida, has been large,
and the trade with those States for four weeks past
has been of the most weghty and large nature.
The pleasures and qualifications unlimited that
it affords us to observe that market and our
financial facilities are in condition to meet the
demands and requirements
The general jobbing and wholesale trade has
been on the ininitesimal order. Dry goods, hard
ware, crockery and clothing come n for the gen.
eral complaint This state of things in these sew
eral branches Of trade has been expected, and il
due reflection and consideration had been given tc
the admonitions and the course of political changes
last summer and autumn, majority of our dealers
and traders would at this time have been in a posi-
ton to Withstand and defy any troubles arisn!
from changes in the political elements of TIL
nation. We do not mean, however, in these re
marks to insinuate that they not at the presen
time able to go through the crisis impending
The daily complaints and murnurng of slack col
ections, deficiency in large sales, would seem +.
indicate that blossoms, roses and large balances tt
credit of profit and loss were to be perennial.
In the great grocery trade there has been fai
business for the nonce done this week. Sales AR
rather light in comparison to last and previous
years. This is readily accounted for. The genera
credit system is virtually abolished, and the gro
Gerry trade being reduced to what may be termed
the cash focus, sales are UNNECESSARILY reduced
A majority of the grocers, as we'll as other branches
of trade, are more than making expenses, an(
meeting their obligations promptly. Why, as il
many other trades, be graspfng for more, more
Is it like predecessors, not only in this trade, Blu
dry goods, clothing, hardware, and so on, 10 accu
nulate, take the gains and surplus Northward, ant
there settle down like others and join the enemie
of the great South.
In the local. retail and fancy branches say Of
the grand Boulevard, Canal and les rues Chartre
and Royal, sales have been light. This is not IN
expected. The great stocks of dry goods milliner
and iewelry are more attractive than usual. Blu
wagon loads of cotton, as it is transported fror
plantations, are wanted for other purposes at thi
time than to invest in general crinoline fancy DIR
goods hicA, S7.a,cs and jewelry consequently, til
trade for the week in these branches has bee
light. We can only say to all, be satisfied if 20
make expenses.
Having from day to day reviewed the genera
money market, leaves US but little to say on th
to the Board of Currency shows contraction an
reduction of discounts Discounts have been gran
cd from day to day, and though over three millior
of produce have been sold, only about one-sixt
may be assumed as having been Paid into til
banks. The laws Of trade and finance do no
however, expect our banks to relieve themselve
of all appliances and assets. With only SIS GOO &C
to $2O 900 900 of bills receivable, and only crc
II lation of from $5OO0O00 TO 81 900 OGO and near
I'll SIG, 600, 900 Of coin in vault, think they
S H position to meet any crisis There have been son
ID, outdoor sales of paper which we have quoted y
to we can reiterate, there is outside market. Son
few parties do work off few thousands of dolla
nd of paper from day 10 day, but it cannot be said
Ter have any general discount market. Within IL
last week there have been four five suspension
of Importance. As those closely interested a
"a. duly informed it is unnecessary for to aut
the more directly to them.
va The deposit line Of the banks shows decrea
D'' in the item of deposits proper. The specie reserv