New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-10-21
lfio GREENS agouea Tlafkst.
chasaEsr OFFICE, No. 70 Camp ss.sOi,

Saturday fsight, Oct ~, 1901 }
che increase in the receipts Of sugarand molasses
has given an improved tone to what little general
business IS expected to attend the present epoch.
The receipts Of breadstuHs and provisions are not
On the scale expected from the large stocks on
hand in the interior. The demand for the latter,
however, IS confined to local and daily consump-
ton. Now and then cargo, including some other
merchandise slips out for some distant market !;
but these exports are attended with SO much hazard
that it requires bold aud some what dashing dealer
to run the risks. The demand for sugar and mo-
lasses for Alabama and Tennessee is extending,
and heavy transactions are expected the coming
month nhe shipments Of molassss this week have
been large fol the times. All of this article made
this season Will probably, ID fact, without doubt.
be eqiired for consump tion in the Southern Con-
federacy, and with the promising large yield of
sugar relatively the returns will be proportonably
larger. she great value Of molasses for plantation
and negro supplies will be fully realized and de-
monstrated this year.
There is q good demand for several descriptions
of marchandise, say staple dry goods, clothing Of
Fashionable and nnfasbio nable make, and boots and
shoes. Fashion and sycophancy are losing caste.
Some Of oar Wholesale and jobbing dealers have
i bsen king sales for Virginia and Tennessee to
some extent. The merchandise in the public ware
houses II being Withdrawn rapidly, which keeps up
the supplies OF many of the jobbers.5 The retail
md fancy trade is materially affected by the war.
We no longer have to note the large expenditures,
and the desire TO go in debt for the gew-gaws, the
castsoa fashions of Europe, and the general mil
linery trade; the costly and useless lace trimming
aud honpees feel the effects Of the war. IN fact,
when II u considered the workshops of Europe,
particularly The several branches of the silk trade
Of France and the great Brussels lace trade are
experiencing the depressing effects of blockade
and noaintercourse far beyond our own citizens,
the present stagnant state of trade the barren de-
nand for costly and comparatively useless descrip
tons Of goods occasions regret whatever to the
true S0utherner and the friends of Southern indus
try and independence.
The general money market has moved along
quietly during the week. There are attempts at
speenlahons but as many would,be spectators are
dependent On bank facilities to carry out their
views, these operators Ghese would-be monopol-
izers1 are neceaaitated to confne their transactions
II 70 their own resources, their own capital. The
drawing posts which afforded such convenient
mediums are no longer available. AS our banks
are expressly inhibited from advancing on pro-
ace, warehouse receipts cannot be ailahle, even
= our banks are under a state of suspension. What
the peenniaTy capacity is Of many of the would be
operators is readily observed by shrewd and
sagacions mandator, who, of course, must himself
4 be free and unrestrained from having faxors to
ask. II il not supposed that the state of war will
entirely supnlant the sound credit system which
has heer 50 much cherished in our community for
years past. On the superdciaiity Of wealth or pro-
fessed capital (apparent means) it is not our pur-
pose at this time to- date; therefore, this is not
ne proper time TO abolish and repudiate credit
and those parties who have heretofore been 50
iavishef giving credit exhibit most lamentable
weakness In declining to follow the heretofore sys
tenn, which, though greatly abused, has conferred
almost unlimited benefits TO the general welfare
and prosperity of the country, If the capital and
resources which have been the basis Of tie credi
system were borrowed, and have now taken wings
and flown away then was the great trade of Thu
emporium based on a weak, an insecure AM
worthless foundation.
The return of the hanksssto tine Board Of Gun
rency show reduction in loans and discounts Q
sI4D, 72S. Generally, this reduction has been yo
untary, though there are some hard creditors VIII
still demand in full During this crisis the shyloel
onght to be forced to show their hands; they az
ininical to the Southern eause, and should
marked accordingly. There has been an increas
In deposits. The large increase in distant balance
u mostly for Tennessee account from which sourt
there is some demand for gold to send over the lii
to Kentucky for the purchase of supplies II
dscrease in specie is chiefly through the souther
Bank, which Continues paying its obligations a
terror to the 10th o. September in COIN and redee1
ing Its circulation The increase in circulate
ought to be satisfactory to the public that IL
banks are disposed to aid in the supply Of sma
ehangeA
The movements for the Yeek show