New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-01-24


TO the maintenance of public schools, and has hb
orally endowed the seminary at Alexandra, nov
admirably organized and in successful operation
| for the purpose of sustaining higher STANDARD
and multiplying the home supply, for the teaehnt
Of the youth of the State. These and other instltt
tons for the purposes of education merit tile con
tinued care of the State.
of the Board of Currency, with what reihaIhap's
success the banks of our State have been
during the past year. In the midst OF pohtieal alo
financial troubles under Whl9h DAMS y, otn?i
| payments, and ali the exchanges OF we country
g. were disarranged, the banks OF New orleans mann
!, tanned and continued to strengthen themselves
until they reached their present lnlpregnabe posi-
II finn which no future political events or CONNER
cial reyerses can shake They have preserved for
the people a perfect currency and to the trading
interests an uninipeaehahle instrument for pros,
Il Eerous commerce. The latest bank statement
shows the aggregate liabilities of the banks of New
Orleans exclusive Of capital to be S25 1893 PSI to
meet this they have in specie st5, 72l ,2, equal to
/ total liabilities. They have exchange amounting
to 7.S56,5sl, which is nearly equivalent to coin
These two items represent nearly eighty nine per
cent of their entire Indebtedness. Adding to this
Che amount Of bonds deposited with the Auditor,
/ as security for circulation by the free banks the
immediate availability is S26 6SSS52 against 49,,
/ S9S,25I of liabilities; or one hundred and three
/ cents of means to one hundred of debt. This is IT.
i
/ amount in round figures to $4,000, 600.
1 This result is a triumphant demonstration of the
soundness of our banking system, and at the same
time the inestimable value Of the banking princi.
| Pies applied through the agency Of the Board OF
Currency and the discretion and fidelity with which
it has been administered.
The accumulation of specie in the banks and the
course of the regular reduction in their circulation,
effected under the rules of contraction imposed by
the state of commercial affairs, make a convenient
opportunityfor applying to their issues restriction
BY law, which 1 have long thought would mate
rally assist in times of commercial CONFUSION in
Strengthening the general currency against the eff
fects of panic on one hand and of bank expansion
on the other. II is the prohibition of the issue of
bank notes under the denomination of ten dollars;
measure Which is recommended by the Board of
Currency, and which meets my entire approval.
The report of the Board will furnish all iDforma,
ton connected with the bank movement for the
past year.
Atthe last regular session Of the Legislature the
appropriations for the pincipal chritable institu
hons Of the State were omitted.
Counselng the most rigid curtailment Of every
unnecessary expenses, and the utmost carefulness
in outstanding the means of the Treasury, upon
which extraordinary demands will be made for the
highest purposes Of State protection, i recognize
in many Of these applicants, worthy objects, hav
ing claims on the State faith and State charity.
Some OF them exist mainly by State bounty, con-
ferred on public grounds which remain in full force.
i recommend earnestly that these claims shall be
examined in a liberal spirit, and such further aid
extended to the customary objects OF State charity
gas their several merits may enttie them to, and
the condition of the Treasury, in the novel state of
public affairs, will allow
Ibeg leave to furnish the following reports and
estimates:
Bonds issued to HE Railroad Companies during
the gear 1860.
New Orleans opeonsas and Great Western 10
Issued previously o3l
ro.al........ ....,..., 81
Baton Ro8ss crosse sie opsoasas
Issned previously q
ota Bonds issued liz above companies during The year
is60. 76
Estimate Of he amount of Bonds to be called form
The gear 1861.
New Orleans opelousas and Great Western 5000
Bson Reaea GToss Tee and oneosg lsS
Central Stem Of the Mississippi and Pacific 500
Total...- $4,000
INVESTMENTS.
i, s Esr 4ec9Fa' ri ne Free Ss3.ool Fa4a.
as be eFs aos s Sc sa t sS e
S53g0s IS
LIZ Bonds as above, purchased at
Less So i ss months and s days interest S'f55 8
Total bonds purchased 1884, cost 75i 81
Is Bonds Of The stnts Of obisianh9 FL 500
Less ss aaa III days 70
Total bonds purchased D. at S2 800 %
FIR account Of ne Seminary Fiud
Bond OF 81 90 Of the consolidated city of
New Orleans, purchased !
Less three months and six days inieres.... IS 20
representing Of 800. ofs1749ss 20
Under the act Of the Legislature, entitled q An
act providing for the sale Of slaves belonging to
the Internal Improvement Department Of the
State,D approved March Is, 1861 caused the
slaves to be sold at public auction. They pro-
1uced the net sum (after paying expenses of sae)
3f SOS, 00l 10, which amount has been appropria-
ed in the following manner:
ST To the payment Of the outstanding warrants is
sued BIZ tie Auditor for debts of the Internal
1mprosen. Mt Department. in 1855 1S59and 1860
! paid by me- aud the warrants delivered to the
Treasurer his receipts Of 18th june 1860 IS
d. Salaries ofSofceTs and other debts Of the Depart
nient paid by me under said act and as per
vouchers 25Se7 80
Total debts paid. sle6g9 80
d. Balance in cash paid by to the Treasurer to the
credit of the Internal Improvement Fund, per
receipt of Treasurer l93Gl SO
Making the above amount Of net proceeds. s69G0l 10
There remain claims against this fund yet unsat-
SIZED to the amount of $25S n, which will be paid
oy the Treasurer SO soon as the claimants demand
he same, The vouchers, explaining in detail my
the fnrnpDinG frIIst5 are on file in INV