New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-03-05
Uem 0rleans lailp Grestent.
FINANCIAL AND COMMERCIAL DEPARTMENT
Ueb 0rIeans Hlontg Hlarast.
oaxsors7 oryron, No. 10 csar ere.

u L
The week opens with an abundance of money
available on first class and strong securities. There
is broad difference between sellers and buyers
of paper note broker, with his hat full of paper
might not have half dozen pieces which would
meet the views Of capitalists or buyers. That Is
neither here nor there at present. A large amount
OF money is seeking investment, and some folks
say let it seek, and il it does not meet with re-
spouse let it side for it is manifest that the trade
of this emporium is tending to the cash system.
In fact all produce sold in this market, from time
immemorial has been for cash nevertheless, there
has been. year after year, large amounts of paper
issued based on crops to grow, which buyers and
capitalists have been eager to possess, but at
this moment, when the usual facilities of years
past would be highly acceptable, the very same
dealers or buyers Ghey cannot be called capital
iats in the real meaning of the word) appear to be
inclined to ensconce themselves behind their d.
minutive money bags, and prefer to await a change
in the politics and financial elements attending.
They all the tenters in New York, outside Of
some Black Republican money changers The
capitalists in that city entertain the idea that the
perpetuty of the Union is fixed fact. They have
not learned Of the formation of a Southern Con-
federacy, and take loans from the psuedo govern
ment as though the great South is accountable for
them. These New York capitalists need not en-
terrain the thought that the South will be in any
way alarmed at the aacrity with which they have
come forward and taken loan at 10 get. discount,
bearing 6 get. interest. We observe that prom
inent merchant, who has made a great deal Of
money cut Of his business with New Orleans,
Christopher R. Robert, and who was engaged in
business in this good city of ours some thirty and
odd years ago, was participant in the loan, and
though the proceeds of this loan, to limited ex-
tent, will go towards paying and relieving the
wants of some thousands of dependents the
Government for their bread, say sailors, soldiers
and officers of the army and navy, it was obtained
on the suppositon of a reconstruction of the
Union. How sadly will the takers be disappointed.
What childish idea to entertain, that the seven
seeded States will ever return to what was an
Union with the North
The exchange market to-day opened, so far rs
Northern funds were concerned, with frmness,
and, under an enlarged demand drawers enhanced
their rates, making checks on New York over the
counter firm at ! dis, and under brisk inquiry
double Al drawers enhanced their rates to dis.
Two or three banks were ready buyers at dis.
There were sales of one Days sight, at the ad-
vanccd rate Of Get. dis. There was also round
amount of one, five, ten and fifteen days sight pass
ed at 4 dis. Double AL sixty days sight was firm
at li@lj dis. Other good and fair commercial
bills ruled at from q to 29G324 dis. In sterling, the
business done was not large. We quote clear bills
at 1O3a, lol, l0ii, and fraction ID over for some
special names. Bills with documents were taken
at 1903 and l034-extreme rates Of this class 1920
l03 Francs $3.50, which means no important
change from 555 Gs545 for the general run of com
mercial bills.
There is good demand for the shares of the old
banks, and good demand for shares of the free
banks, if holders meet the tenders of would-be
buyers. There are cogent reasons why the
shares of free banks should not command fully par
to ten and fifteen per cent. premium, particularly il
Gen Boots bank is presumed to be worth Ito.
Subjoined is reliable table, aifording com
parative view of the Bank of England returns, the
bank rate of discount, the price of consols, the
price of wheat, and the leading exchanges, during
period of two years, corresponding with the frs
week in February, as well as ten years back, viz.