New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-10-09
gEtm 0rIeans stIoaeg aEarket.
cgEscEsr orrlr. No. 10 Cams street,.

cgEscEsT : ofrIg, Eo, 70 Camp street.
FheresWas considerable stirring and liyeliness il
and about the banks to-day, as wen as on the
street., hut no large negotiations reached contracts
The movements in and about the banks are CON
fined to calls for change, with now and then some
thousand dollar, or perhaps ten thousand dollar
operation being carried through in clear gain
A The disbursements on account of the Confederate
Government are large, and increasing from day to
day. The action Of our banks has constituted the
issues Of the Confederate treasury as the currency
# these issues should prove gaueless then there is
nathng worthy of recognition as value in the
South. We shall all he e wiped out ~ to use the
classic words Of 9 great Northern politician, who
wore a Southern face till April last But that is
nothing at this jnnctnre of affairs.
There has been an active demand for gold within
the past two days. Sales have been made as high
as 10 vet. prem, assuming our local bank notes
and Confederate notes as the standard. We there
lore, have TO quote gold coin at from I5@17a Vet.
prem There are orders for it for use Id Tennessee,
to be, it is supposed, transferred TO Kentucky for
Investment in produce, or perhaps it may go
further and find q market in the deminions of
Black Repubiicanisn. Gold is not at this time
wanted for commercial purposes ID the Southern
ConiedeTacy. We have q standard of currency in
fhe federated treasury notes. Gold and silver
must be governed by their issues. What are the
values Of gold and silver at this moment? Are
they intrinseally Of as much value as gunpoH der,
1ron and lead? They are nothing but the measures
Of value, as il were. 49,
We are now in state Of war, and it is imuolitic
as we'll as idle, 10 be referring, as itwere to alb
straetons, and alluding to political economy. It
Is useless to be bringing up cotton as the basis Of
currency or exchange. Cotton is not available lit
- safe, II is hoped on plantations to be available
Wnen the proper time arrives. s. The Confederated
Government must sustain the planter ION the other
hand the planter must do all he can III aiding the
y Government. The Confederated Congress viii as
semble next month, then measures can be adopted
Which viii prove highly advantageous to the plant
Ing interest, as well as to the Government We do
not Relish the suggestions Of thousands Of Office
holders Of harpies to be fastened on the agricult
raj community In fact, we have very little faith
an what is termed the produce loan. Planters and
agricnituraliats out of debt can, of course, loan
their crops to the Government. It would be the
most vicious policy ever introduced to allow the
Government to have the selling of crops loaned.
There are armies of ofice.seekers and yultures
lowering around the Treasury Department at Rich
mond. They ought to be made to shoulder mus.
kef, and protect the cotton which they are SO am
bilious Of controlling in the capacity Of Govern
ment agents.
The movements in gold and silver to-day indicate
higher rates, as well as an upward feeling in for
egn exchange. Sterling exchange eco days sight |
is held al lls@l20. Ffanos 4. oe@&75 We are not |
informed what business will justify these figures.
But we assume that gold should DO the standard,
then starting might go to about lbs when pur- |
chased for currency.
70 stocks there have been some sales, but moth |
ing worthy Of quotation to Justify figures being
quoted. We do not consider that the sales of
frightened party should be deemed as criterion
for the market.
There 10 still considerable inquiry for small 4
change. The Canal Bank, Ia order to aid in filling
up the yaeunnof small notes, issued to- day its five
dollar notes divided, say 50 so each, and increased
AZ Issues Of ives and tens. Some parties have
heenso simple and ineiscreet as to cut the iyes of
the Bank Of Louisiana and Louisiana State Bank in
TWO, and making use Of them These banks haye
very justly and properly refused to recognize this
movement, and reject these halves. Let it be
understood that no holder Of bank note has any
right to mntilate it cut t-that it, 10 Ont a nota
in halves, sans ce,einoaie These two banks are
issuing small notes, and there is no urgent neees.
sty for holder of their Ave or ten dollar notes tod
divide them and expect the banks to redeem them.