New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-11-29
slsn 0rIeaas HIeats sttarhet.

I
Thursday Evening, Nos. 2st 1851
we have nothing to note in the general pape
hsafke The banks are doing nothing beyond re
re walss ping an occasional discount for plan
tAtion supplies, for which certain form of note
must ne given, conformable to suggestions giyel
3 IN acomninnica alton from q wealthy planter o
Louisiana, published in our columns some few
weeks since 1t Is apparent that favorable actor
VIII be taken by our Legislature on the course
pursued BY our banks. II cannot be Disguised
however, that under the redundancy Of our cur
s Eeliey great speculative feeling has started in
nost kinds Of stocks, even in those which may
= not pay dividends for some months to come. NOT
only stocks appear to be moving onsinfation, but
real estate appears to be somewhat excited, while
ne have 70 witness from day to day an increase in
4 paper money. The paper money;of the Confeder.
ata Government, notwithstanding the slight against
II en- the part of some Confederate officials is held
! % high repnte, and answers for all purposes Of
I eVHHercs, There Is an active demand for good
nloftgage securities ut from 100 y yet. per annur
Ir fciaf paper we do not learn Of any trans
actions Very good reason there is none
making.
There has been great liyeliness in the stock
market for the times. Some Of. the free bank
shares, which have been lifeless for months past,
hAye been called for within the past few days.
Sfe note sales Of IS shares Southern Bank at lIs,
100 Canal Of LIS and q lot at 1870, rs ahnres Ores.
cent City Bank on q. This Bank, we learn, will
pay dividend Of get. in january Bank of New
Orleans advanced to 95 to-day closing at 500, &C
which price sale was reported at d late hour.
Citizens Bank Is held at $3.50. We also note sales
III 100 shares Of Southern oil Company at st, and
80 shares at $50. The movements in bonds are
very light Some little doing in Confederate at
from 81 70 &c.
We append below a Communication addressed
10 the Presidents Of the banks Of cur city. Ii
comedies q greater financial dependence on the
mo yeipent Of our banks than we were prepared to
receive. The author evidently misunderstands the
real position OF our banks i. they cannot, come
Immediately to the aid Of the planting interest
tntii orr Legislature grants them amnesty or, as
itWere, an armistice for following the recommend
alton of our Executive. Without endorsing Of
Sallg approving the views expressed, the article
will be read with more or less interest by all CON.
pected with the great cotton interest. It Is mani
fest that the planting community Of Mississippi
expect some real assistance through our banking
ipstitutions, and, In spr opinion, It cannot be
denied. The communication is taken from the
bfssissippian of the 26th inst: 81 III
2 To the President and Directors Of The
4 x Banks Of the Stale Of Louisiana
gSTLgAgS You bave doubtless seen the scheme
OF Mr. Memminger Tor raising revenue and other
purposes With that II do not propose to NEEDLE
at this time but shall be happy to witness results
from u which few expect, except tho Hon. Secre-
tary himself, SO far as am Informed Bat the cot.
Ton PLANTER IT Il quite plain is not provided for in
tAe scheme, nor IN any, other which has as YET,
come TO Light. And yet, bio must be provided for.
as with his death, comes the certain and speedy
death OF all Southern interests and by eonse-
quence the certain speedy and disastrous ternina.
ttqisof the war in which we are now engaged
Our cotton cannot cessation, nor can it be turned
inGo money, either foreiga or Confederate, al the
present moment; NOE can it be used in barter to a
sufficient extent TO enable the planter to bay such
debts as must be paid or OIL to whom he isindebted
must close their stores The grocer must be paid
or all to whom he is indebted must close their.
stores. The grocer must be paid for the sugar
aEready consumed by his customer or be unable to
repiensh his stock. So with all others engaged In
trade. My groeers, drygoodsmen and Others, tell
tisat they cannot, as formerly, supply from the
street whatever their shelves may lack, as each
tss 70 sustain his own particular customer without
pay and, therefore, cannot supply the customers
az Others, unless for the money.
When In y0nr city but short time ago, | could
not obtain nails of particular size, because the
gentleman with whom ! am acquainted, and with
whom have been in the habit OF dealing, had none
pf that size. Tcouid take as many as pleased of
sucb sizes as they had. So ii is with all engaged in
Trade; and SO ii must continue, Increasing in ag-
yraVation each day, as stocks decrease in quanti-
les ard varieties, unless seine corrective be ap.
Piled, and only one. suggests itself to my mind.
Does not the same suggest itself to yours . The
jauhng institutions OF Louisiana have furnished us
With medium of exchange since the great finan.
ial crash in 1885. Our cotton has been sold for