New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-03-21
U(cu Orleans DaiIp Cresttut,
FITANCIAL AED CO3ilENCIAL DEPARTSfEq'5
gIGu Orlean5 HIOnfy ,yEIayhat.
CRzsrrrT OFFICE. No. 10 Clnar a,rset,
l. l..

, Of 70 Jet per ar1um. There were also sales c
; eight months good mortgage paper at the rate c
y yet. per annum. Bat money is actually c0in
on begging excursion, because there are no DO.
rowers with bags of Gonboon4 and sacks Of Mex
can dollars Offering az security
We have received TIE report Of the Joint Com
n1ttee Of the Legislature on Banks and Banking
This committee has ia ken full cognizance Of tn
movements of the banks fer the last twelve months
We Observed them examining the coin in the vault
of the several banks. The following is an extrac
from the report
The Joint Committee is pleased to state that s
far the latter portion of the labor imposed o
them is concerned, it has cen very material
ightened by the satisfactory character Of the re
port of the Board Of Currency HFcady in your pos
session. That report embraces succnty, bu
clearly statement Of the Opel ztiOns of the bank
during the pest year, and an e2a ninatiOn Of ha
convinced your Committee that the Board ha
faithfully and zealously discharged all the functions
| appertanng to careful supervision Of the Cur
| renCy. The wisdom of the statute of 1872. tbs
| fundamental principle Of which unde-lie the admin
| straton of all our banking institutions, has again
been -gnaily vn0icated during the perilous criais
through which we have rec ntly passed. And it is
due to the integrity with which these cardinal rules
have Lcen observed, AMI the commemorate watch
fulncss of the Board of Currency, that amid the
troubles and suspensions elsewhere. onr banks have
maintained cash payments without faltcr3g.
handling and counting of parcels of greasy smell
ing and oditcrOus bank notes. returned by the
several banks to the Auditor and which have to
he counted and burned in presence Of the Commit
tee. They say that the bundles from some Of the
banks were so badly put up that they could not
count them, only $50, 900, but assuming the amount
to be correct, they were tucked into the furnace
and burnt
l1rc 6rlIit Tho
tumblcd together, and Jouvin gloves being
handy, or no appropriation made for them, they
took the word and figures of the respective bank
offices, and threw the greasy, dirty, large amount
of $50 600 into the furnace, and away the notes
went to smoke and cnders, regardless of the views
of the Committee whether there were s30OOO CT
not. We, however, from what we know of tie
bank officers, believe the amount supposed was
correct, so charge the committee nothing fer
relieving its conscience in regard to the amount
The general Exchange market to-day moved
along at the closing rates of yesterday. The coun-
ter rate for checks on New York at the banks was
prem, and stiff. Outside the rates ranged from
/, 3-1GGI prem. Five days sight was held above
par; sixty days sight, /, lIOl3 to 1}Gl2 get dis
In quoting sixty day bills we do not include lIMl2
Jet. dis. the rate for Al drawers here on AL
drawees in New York or Boston, but these figures
are for commercial and produce drafts, which are
liable to the vcissitudes and casualties of all com
mercia operations. There were some slight move
ments in Sterling today at l0G40l0Gl up to lO7@
1914 for clear bills, which are above New Yollz
quotations. Bills with documents ranged from
l0l!MlO5l. Francs in dull request; we quote
3501j.27! which were the ruling rates at tie
date of our last advces from New York
There were no sales of Stocks to-day that we
heard of. Buyers did not seem disposed to meet
the prctensions of holders willie many parties
were waiting the action of the Convention on the
bank bill.
The annual report of the New Orleans Savings
Institution, or Savings Bank to the Legislature is
before US. 1t is gratifying to find that the high
cncOmiums we have from time to time conceded to
this excellent and praiseworthy institution are
confirmed in the report of the Committee on Banks
of the Legislature, The depOstors increased dur
ing the year 1850 from 1886 in 1859 to G50S, as
entered at the close of the year. The amount re-
ccived deposit for the year 1850 was 50 234 673
against $3.50, 34S in 1859, showing increase of
IA fraction over Is get. Daring the pressure in
December last the Withdrawals were large but
depOSitors finding there cause for alarm
no foundation for the least doubt regarding the
sounduess and solvency of the bank, have been for
two months past renewing their deposits. 1t some
what aStOnshes that in a city of the extent of
New Orleans where millions of dollars are paid
out annually to labOrers, stCamb oatmon, mCch0n-
les and clerks, that there should be so little re-
gard given to economy and savings In no part of
the world are the working classes, operatives |
mechanics and clerks, better compensated, paid |
more literally and in the best Of money, than i'll
this city of New Orleans, and in no other city is |
there SO little money laid up for rainy days"
This confirms the oft-repeated remark, that thou
sands of the working class come here and work in
the business season ana take their earnings to
other places. Admitting this course as general
the resident aborers and dependent classes should
have now deposit in banks two or three millions
Of dollars, instead of the small amount of four
hundred and twelve thousand dollars The Say
ngs Banks in Northern cities count up their depos-
its by millions millions of dollars. We apply
the scriptural quotation to the working classes of
Louisiana, 10 thou and do likewise"
Statement of the New Orleans Savings Institution on
the 9Th of February, 1891,
LIABILITIES,
Received from G.oS Isposi. or, 2G 81. de
Pa in 81 10 1S!5 81
Amount dine dcros tors hi, luy......... siuool2
Certificate of deposit account, amount
stand nr....,.......................... 3Gi7
sn ~, on r & Of s Ejty 5 ."rq ~ Bank Socks viz
sh5s rH ' i io"E 70 nd '' "r ,tn"I
I'o't ; 25i :, shines . S4's i i!9k :'5o T T
chan ,S S>' anI f ,,n$ H ;p s' ns n MGt
i S"%" y % %;> E s %'"1 I"% ' ri S%s' s
''i Pcrt t.. w Hf i' Ike ,e n, 'i'S 5 ,5
I,s@srHESrs.