New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-09-12
geh Orleans NIoler sJgarkft.

CRESCENT OFFICE. No. 20 Camp street
W eiDesday Evening. Sept IL, 1861.
The general money market was exceedingl,
quiet to-day. Nothing more can be expected
under the present aspect Of political matters. Ii
and about the banks there was nothing beyond the
usual daily routine going on, that's paying checks
and receiving deposits, which, by-the-bye, are re
markably light, but not more SO than expected
under crisis Of the character now impending.
The circulating medium or currency, seems tc
be attracting the minds Of the people. It is evident
that our banks cannot extend their line Of dis
counts that they would receive and pay out the
notes of the Confederated Treasury, if the Boart
of Currency will sanction the measure. It mus
be understood that one of the chief duties of the
Board Of Currency under the act of 1872 is to keel
general supervision of the movements from day
TO day Of the banks, and more particularly to re.
strain the issues Of the banks being deprecated
n fact our banks are at all times under the closest
surveillance Of the board. The Board of Currency,
therefore, having plenary powers, can at this mo+
mentions juncttre OF affairs consult with the banks
inregard 70 substituting the Confederate Treasury
notes as general currency, but to what extent the
Board of Currency will consider itself bound to go,
Will depend on the Governor of the State. The
Beard Of Currency is composed Of the Secretary Of
the State, the Treasurer of the State, and the Pre-
sdent of the Board. 1t is suggested that Governor
Moore forthwith convene the board to take into
consideration the present posture of affairs and to
deliberate on such subjects appertaining to the
present finances of the country as may be brought
before it. There is no produce coming to market,
whereby sales can be effected and money realized
tolmeet tho wants Of the community. Our banks
can go through the crisis without iinehing or pres
sure, but twill be the people who will suffer, and
we think that tits not outsof place for as to sug.
gest to the Governor to call meeting Of the Board
of Currency at as early day as possible, and CON
suit with the mandators of our banks All the
banks desire is to be protected from presumed VIC.
lations Of the statute The statutes were not en-
acted to meet general political revolution in the
Union. They were made to meet and guard against
commercial, financial and social commissions.
The question is simply reduced to this viii the
banks be protected by the Legislature in oVerstep-
ping the restrictions and restraints of the law The
Governor and Board of Currency can do much
towards relieving them and tile community. by
taking immediate action, F4the Executive Of the
State and Board of Currency think they ought not
to assume any responsibility in recommending
what course the banks should pursue then there
will be no necessity for daily allusion to this great
and important currency question
There was no exchange market today. The
banks sell little on London, but we are not IN.
formed how buyers get their remittances across
the water. We are not aware Of any communica. |
ton only in sub rosa manner. Quotations are |
nominal. Our banks, or rather Ave Of them, hold
about three millions half Of dollars in foreign
exchange. II
There were no sales of stocks to-day to our
knowledge. |