New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-11-21
Hen Orleans NIpnsg Batket.
CRESCENT 0FFIE, No. 10 Camp street.
Wednesday Evening. Nav 20. IS61

CRESCENT oFFIE, No. 10 Camp street. I
sS gg49 sf3s Wednesday Evening, Nov. 20, Is61. !
The money and paper market offers nothing, fol
comment this evening. The market is not exactly
Oh pivot, to move this 81 that way, according to
the Facilitating views Of borrowers and lenders
There are many expressions ID regard to the very
extraordinary boarding Of small change, that is,
dimes, quarters and half dollars. These are, bow
ever, binary times, as tie phrase is. Many
5of tha present generation are hardly cognizant-
not aware 81 the exigencies Of q state OF war-and
some Of our financiers say that the Confederate
Congress sheuld prohibit the passing ont of the
Conederacy gold and silver. tt was an unfortunate
move 70 suspend the operations of the Mint in this
city Bullion, at the prices which have been ruling
for months past, would have sought onr marketfor
sale and coinage. Closing our Mint i something
NE closing the bunghole and allowing the spigot
full scope. No encouragement whatever is given
the traders and those connected with the Mexican
mines To send their bullion hither. 1t all goes to
England. No satisfactory cause has been assigned
or The closing Of our Mint unless it is the cost of
employees. The Branch Mint in Georgia is located
toofar in the interior to BIO of any service. The
Branch Mint in Charlotte, North Carolina, never
covered expenses It is suggested that our Cham
Der of Commerce should take some action, and
with our commercial community, apply to Congress
10 repeal the net suspending operations Of the
Mint e II s necessary to reduce salaries and ex-
penditmea, the former employees can well deter
mime What reduction they can submit to. There
must, q course, be some encouragement in the
way VI Tefrenchment to carry out our suggestions.
~ was on account Of expenditures that the Mint
WIS suspended, Results have proved that it was
IN unWise and injudicious measure, and we hope
that other counsels will prevail hereafter Under
the Of coin payments on the part of our
banks, Y s believed that coin and bullion would be
brought from Mexico, even at present high costs
of transportation, to be transmitted into coin, 4
which nov commands 1920 get. more than cur
rency. For instance, it is estimated that from
thirty to forty thousand bales Of cotton will be
bought II Texas for shipment to Mexico This
WIN be paid fol n gold and silver which, with en-
cpuragement. would find the way to our city. The
facilities Of intercourse are increasing daily via the
interior or land route II the war is to last for one
two or more years, we think it will be a wise |
policy for our moneyed men to move at once and
complete the Opeionsas Railroad. This inuortant
link one Of the richest countries
on tue globe can be finished to the Sabine river in
a very snort time, with very small share Of the
unemployed money now idle or on deposit with our
banks. The distance from New Orleans to Hous-
tor, Texas, j. 347 miles say about 20 hours travel.
y the present war is 70 continue for heightened
spaee Of time the importance Of completing these
railways the 0pelouaas and Texas and New OF.
leans will at once strike even the casual observer
OF events 10 sum up, we are ID for a war of
longer ri shorter Duration and It behooyes us to
extend all means Of communication with the int.
rior, particularly towards the Rio Grande river.
There was nothing done in exchange TODAY.
Qaotaticps are nominal. Some little doing in Con.
federate bonds. The market is very slack. In
stocks ne feeling Is upward. We learn Of the sale
% Sf shares Bank Of Louisiana at las. No move.
meat n local bonds. In other respects the market
is Ia statst gao $500