New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-04-03

lI,4 T.
a@E discount down to lD1s discount. There was
yery little done in foreign. We note sales for re-
mittance at 1854 down to lo8@1o72. Bills with
of good drawees, which means, it is
supposed, first-class Lancashire spinners, were
taken at 1o7@1o74 OF course, the daily falling off
in sales of the staple restricts amount Of these
bills. Very little done in francs. The market
ranges from 5.35@5.s0 up to 5.232.
The Liverpool and London papers (the financial
articles) have been teeming lately of some move
ments of a leading discount house in London hay.
ing anticipated the amount of 825e,o0O sterling on
exchange drawn in New Orleans, and forwarded
the amount hither. It is almost ridiculous to say
that the Bank Of Louisiana was borrowing money
in London.
The following extract denotes how easy it's for I
negotiations to be misunderstood. This extract |
was sent up from London to Liverpool:
The loan of specie to the Bank OF Louisiana, just |
effected in London is said to have been conducted
through leading discount hnnse, the basis being
short bills sent from the other side bearing the
names Of the most eminent firms in America and
England, and which have not more than fifteen to
thirty days to bring them to maturity.
The Bank Of Louisiana has not been in want OF
specie, and OF course, could not have been Dor
rowing in London. But some Information at hand
leads to the supposton that an eminent discount
house in London has been using the great credit
and standing of our Bank of Louisiana to bolster
| up and sustain its somewhat critical position.
| Quten sdbe? A loan of specie to the Bank OF
louisiana Why not say a loan to house name
| less for the nonce?
Alta recent convention of the stockholders of the
Southern Bank of this city, it was unanimously re-
solved that the capital stock of the bank should be
reduced from 81, 100000 to sl,0oo,ooo This move
| ment has been for some time under consideration,
and has resulted in the unanimous conclusion of
| All the stockholders. On looking over copy OF
the process verbal which we will publish to-mor-
row, we cannot otherwise than be gratifed with
tile strong array or array of strong names, which
COMPOSE the corporation of the bank. We observe
stockholders as residents of South Carolina, New
York, Pennsylvania, Missouri, Kentucky, Missis-
sippi Virginia, Alabama, Ohio and the British do
minions. ALI solid and independent in their peGt-
niary, commercial, financial and social position.
The general banking law of 1858 requires the
unanimous assent Of the stockholders, which has
been readily obtained, and Judging from the high
standing and wealth of the stockholders, it is rea
sonable to conclude that the Southern Bank of New
wOrleans is one of the strongest institutions in the
commercial world.
By the act of Congress of the Conederatet
States, which we publish below, as taken from tn
official records it will be observed that many for
eign coins, heretofore uneurrent under the oil
Union, are now legal tender, and to be receive
and paid out for all debts and obligations at th
following rates:
s SSnas5ns Of # F HRssna
spanish and Mexican Doubloons ...............l5 8
Mexican Dollars. W
Fivs Franc Pieces, s5
Silver coin Of the old United States under th
acts of 1858 is legal tender to the amount of tie
dollars, instead of five dollars, under the old uniol
ACT TO REGULATE roR N9 a col IN THE
STATES.
Sec. l. The Congress of the Confederate State
of America do enact that all laws and parts
laws now in force for the regulation of the Mil
and Branch MINIS Of the United States, and for Ii
government of the officers and persons employe
therein, and for the punishment of all officers CO
4 nected with the Mint or coinage Of the unlts
States, shall be and they are hereby declared
be in full force in relation to the MINIS of Ne
Orleans and Dahlonega.
= Sec o That all laws now in force in referen
TIE to the coins of the United States and the strk
and coinage of the same, shall, as far as apple
be have full force and effect in relation to
coins therein authorized, whether the said laws a
!, penal or otherwise, and whether they are for p
u' venting counterfeiting or debasement for prote
ing the currency for regulating or guarding
process of striking and coinage, and the prepa
T. lions therefor for the security of the coin, or
tas any other purpose .-
Sec, 5, That the silver coins issued in conform
with the law of the United States of @lst Februa
and Sd March, 1853, shall be legal tenders in pr
has ment of debts for all not exceeding ten d
lere lars all laws to the contrary notwithstanding.
Es Sec 4. That the following foreign gold coins sl
4 q pass current money within the Contederai
States of America, and be receivable for the pi
ment of all debts aud demands at the follow
rates. that is to say: The Sovereign Of E0gla
of no less weight than five pennyweights 9
a., three grains, and Of the fneness of (915A) n
oes hundred fifteen and one-half thousandths, shall
@ deemed equal to four dollars and eighty two Ger
1u' The Napoleons of the weight of not less than
j, q, dwts., 81 grans) four pennyweights three gra
o" and one-half, and of fineness of not less IL
(S99) eight hundred ninety mine thousandths, 81
rms be deemed equal to three dollars and eighty I
~ cents The Spanish and Mexican Douhloons OF
Err less weight than III dwts., 81 grans) sevente
pper pennvweights eight grains and one-half and of
fneness of not less than $500 eight hundred q
, ninety ninth thousandths, shall be deemed equal
AAo fifteen dollars and fifty-three cents.
Sec S. That the following silver coins shall p
ware current as money within the Confederate States
America, and be received in payments for all de
" and demands at the following rates. that is to 81
e. The American dollar (412ag.) four hundred TIVE
4sS and onehalf grains and the dollar of Mexico of
less than (897) eight hundred ninety-seventh til
sandths in fineness and (415g) four hundred fft
grains in weight, shall be deemed equal to one
lar and two cents. The five franc piece of not
8, than (9O0) nine hundred thousandths in finen
and (3S4) three hundred eighty.four grs. in Weis
l., shall be deemed equal to ninety-fve cents.
= Be it further enacted, that all laws and part$
ST. laws inconsistent with this act, be and the Sc
are hereby repealed. HOWELL COBB,
President Of the Congress
Approved March IA, 1861.
JEFFERSON DAVIS.