New Orleans daily crescent., 1861-02-04
gep Orltans 1ailp Crescent.
FINANCIAL AND COMMERCIAL DEPARTMENT
Netu 0EIsnrs NEgnEp MLarket.

FINANCIAL AND COMMERCIAL DEPARTMENT
geb 0rIems MqnGp NEarAet.
CRESCENT oYE1cE No. 10 oarar street. Z,
Saturday Night, Feb 2. 1861. (
We are closing another week Of important and
event(u events. The most important in general
view is the transition OF the Customhouse, revenue
branches and dependencies of the old United States
to the State authorities under the sovereignty of
the State of Louisiana. This measure was carried
through without any Interruption or disarrngement
to commerce and trade. In some respects the
course was anticipated fifteen days ago by the
clearance of 4early all the vessels in port leaving
scarcely two dozen barks and ships uncleared at
the time Of the transfer of these only eight were
of American ownership. The other interesting de
tails for the week. comprise about the largest |
operations in produce of any week on record. |
These movements embrace cotton, sugar, molasses,
grain and other Western products, footing in the
aggregate to the amount of five millions of dollars,
Although the political elements have a very dis ,
turbing effect business in general, we are pro-
crossing finely in the great trade of the season.
True, there are some caviling, some complaints |
from some quarters. This is to be expected-the
most prosperous times are not free from them.
Cotton is remunerating the cuItivator while sugar
and molasses not far in the rear the great
Western produce trade has increased beyond any
previous year. The great shipping interest is re-
ceiying most encouraging returns, though unfor-
tunately only small share is owned in the South.
The great steamboat branch Of our internal com
merce appears to be for the nonce actively enga-
ged. To the general outsider and those unintated,
it would appear from the great accession of steam
n at fppa
steamer is destroyed two comes to fill the vacuum, |
is of constant occurrence. From the great ac-
cumulatoa of steam vessels or steamboats, at our
levee for the past month, the many large loads OF
the great and varied productions of the country
discharged, it is reasonable to suppose that not
withstanding all the exciting phrases of politics. we
are realizing the benefits of much larger business
than the most ardent friends of emporium an.
tieipated. To the movements of this week we have
to add the weather, which has been favorable
(only one rain storm that Of last night, having oc
curred) which has greatly accelerated the great
business of the week.
We, of course, cannot dilate on any essential i'm.
proyement in the great dry goods and coEcomitant
| branches of trade. There are some few packages
| Of dry goods and hardware, few boxes of Shoes
a few crates of crockeryware, ton or two of IRON
and occasional dray load of boxes of clothing to
be seen vending the way to the steamboat landing,
as we'll as some few boxes of merchandise, paraded
| on the sidewalks for shipment. 1t, however, can
not be disguised that the jobbing business amounts
to just nothing at all nevertheless, the present
position of the great jobbing trade is not worse
than in 1887 and 1925. There were too many goods
sold on credit last yearthe supplies and stocks in
the country are far from being exhausted; with
irh tn tha ,t-s in
almost every country village and interior city,
the great country can manage and get along for
at least until the season of 1862.
In regard to the grocery trade, the operations
and sales for the week. though not to the extent of
former seasons, show manifest increase and i'm
provement. The country can better dispense with
silks broad cloths patent feathers, late importa-
tions of hats, jewelry and fashionable crinoline
than with sugar. coffee and salt. The grand boue-
ward, Canal, and les petites rue Royal and Char
tres, though well thronged during the week, have
not exhibited any large enhancement in sales
nevertheless, living trade has attended the course
of business for the week. Our city is thronged
with visitors, and will be for some few weeks
longer. We do not, taking our public thorough
fares guide, observe the least dminution in the
number of visitors from former years and the sym
I
year in our midst, though they are sufficiently dis
Greet to restrict the expression of their sentiments
From the foregoing review of the general move
ments of the week, it can be readily inferred that
| the volume of money in circulation has been in
creased. Both in bank and outside of bank have
we noted an increase, with q more enlarged view
on the part of capitalists towards investing. But
unfortunately for them, the paper to meet their
ia tn ha had will = hn IA +b;
son. That money is abundant under some kinds of
phraseology, cannot be gainsayed We have from
day to day given the movements which leaves very
little for us to say this evening, or to up with
We have to note sales and discount of mortgage
securities at from 10@ll and II 49ct. That money
is accumulating is sustained by the increase in the
deposit line Of the banks. Moreover, one of the
old banks (the State Bank) has increased its long
discounts this week something over a half million
of dollars that is, its discounts having more than
100 days to run. Who the fortunate recipients
were, we are not informed. The returns of this
bank include the movements and full details of the
two branches, say at Baton Rouge and the one on
Camp street.
The weekly return of the banks to the Board of
Currency to-day shows very strong. The increase
in circulation shows light expansion. The in.
crease in exchange balances is equivalent to an in
crease in discounts, as much of the exchange is
foreign and drawn at sixty days sight. The large
specie reserves of the banks of New Orleans run
ming up to nearly sixteen hundred thousand dol.
lars attract attention; they being one million one
hundred and thrty-eight thousand dollars above
the requirements of the statute. We suppose this
bank and the Southern bank consider themselves
on real footing. The little chevalier also ap-
pears to be marshalling its strength.
The following figures denote the changes in the |
bank movement for the week
Anncreasein specie of. of....................Sl72iI7
An increase in circulation Of 372St9
An increase in deposits proper of........ SSS 1872
a decrease IN snort loans OF 9lSBiS
An increase in Exchanged.
A decrease in distant balances of
The variation in Long and Short Loans is increase
Tor the week 4320S3
The following were the variations for the cores |
ponding week last year, 4th February, 1860:
decrease in specie ieof........,..,....,..s 67 577
An increase in circulation Of ......,,,,,.... 353 sin
decrease in deposits proper of. lllS6
An increase in short loans of. ....,...,,,. aSe43
A decreased in Exchange of ........,.,,.,.. bl3O2
- An increase in distant balances -. 9l73
The variation in Long and Short Loans for the week
WAS an increase or 476,4t0
1t will be perceived the movement last year was
somewhat different, that is, there was decrease in
deposits and exchange, with an increase in long