New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-06-27
BsD Orleans 5tlontp Hlatkst.

Wednesday Evening, June 26. 1851. 5
We could not find any money market to-day
though there is good supply Of the dross on hand
and owners of it, with now and then an exception,
intend to keep it on hand. In and about the banks
everything moves along very quietly. Now and
then limited discounts are granted for special pur-
poses. Our banks are on war footing, and in
tend TO keep 50. Renewals Of maturing Obligations
4 are daily granted particularly when curtament
is rendered. There are some parties who pay in
full, but this course is an exception. The note.
brokers have not made any negotiations for some
days-that deserves a notice.
We did not learn of sale or a movement in
Stocks. The Directors of the Canal Bank have de.
clared dividend of pet. for the last six months
This, with T3et. in December last, makes s get
for the last twelve months. This is something bet
ter than stockholders expected-3 f2ct. was the
most for the last six months. It must be taken
into consideration that the Northern stockholders.
on citizens Of the old States-turned out of the
Y nion-eannot receive their dividends only through
surreptitious course. The bank cannot pay as
heretofore at its agency in New York because
about one half Of the stock of the bank is owned
BIZ foreigners, residents Of Northern States. Some
few stockholders reside in Europe they will, of
course, secure their dues. The amount Of dividend
+ is $l2G, $50.
The Bank Of America will declare dividend on
the usual day; 50 will the Southern Bank, and the
Union Bank will not be far in the rear, which will
add to the amount of money now idle and throw
some into circulation.
We learn that Robert A. Hunter has been an.
pointed President of the Board of Currency, vice
2. y. Noise, resigned.
The Exchange market offers nothing for COM
ment. Bills of all kinds are scarce Two banks
having some balances still in New York are selling
atpar, which are purchased mostly for Western
account. Outdoor sight has also advanced. We
quote at lI9l5 to Ia discount and scarce. 1t is
rather dangerous to be dealing with New York at
this time. It is charged that there is some blink
ing going on on the part of the authorities about
reInttanees to our enemies.
Foreign Exchange on the street is scarce. Some
of the banks have good supplies, and hold at lo5
Good commercial bills would command lO30lO4.
In francs we could not learn of sale. The banks
sell in small sums at 5.40(15. Is.
y We have nothing from the Northern money mar
kets, and readily come to the conclusion that they
are used up; il not, they will be before Linooln's
Congress adjourns its session, which is to be con.
Vened on the 4th proxirno.
The London Quarterly Review, of late date, in
Q lengthy article on cotton spinnefs, machines and
their inventions, remarks as follows
One of the remarkable results Of the cotton man
ufacfnre been the creation of Liverpool which
from an obscure fishing village has grown IN into
one OF the largest ports in the world. In 1858 the
registered tonnage of Liverpool was All as tons
n 5S the total imports of cotton into all England
Old not amount to more than three millions OF lbs
the principal portion being consumed as candle
.ylcks. Ia ls5s Just one century later, the guam
tlty imported, principally into Liverpool was up
wards OF Thousand millions of lbs. 1t is obvious
that the cotton manufacture is not without its
pefils. IN the contingency of war with either
America or France, unless England should secure |
by means of her maritime police the safe transit
by sea OF the raw cotton inwards, and the man.
uiaetnred fabrics outwards, state of things would
suddenly be developed throughout the cotton man
nfaeturing districts which the mind shudders to
contemplate.
The entire failure of the cotton crop. saws Mr..
ashWorth, should it ever occur, would utterly de-
stf0Fs and, perhaps for ever all the manufacturing
prosperity NE possess. Figures can give but a
aint idea OF the present actual value of the cotton
manufacture as branch of British industry; but
W. VIII mention that the total value OF the cotton
manufacturers amounts to about sxtysiy millions
yearly and deducting the value of the raw
cotton, which is about twenty.six millions there
remains IA the country an annual sum of about
forty millions sterling, which is distributed amongst
the working people as wages, amongst naDufae
slarers Is profits. and amongst the various other
branches OF industry which mainl depend upon it
Ter their existence.
me Mr.. Ashworth alluded to in the above is a
dlsflnguiRhed spinner in Manchester, and connected
with the Cotton Supply Association and other pub
40 associations. He was in the United States three
years aga It will be observed that he estimates
me total value Of the cotton manufactures to Great
oR1tain alone equivalent to three hundred and
thirty millions Of dollars II the value of cotton
Great Britain reaches this amount it can be safely
assumed that the value of cotton to the other
European markets will reach fully Two bundred
nlllons q dollars. 10 thismay be added The
Tane q cotton to the Northern States Of the oId
5deidnet Union say one hundred millions Of dollars
ms makes the value Of cotton Manufacture IN
Europe and the old United States foot up II six
hundred millions Of dollars To this must be aaaa1
1he costs q transportation freights drayages and
atsuranees and We are eoolIy reminded BY North.
sfh Anoilslonlsta that the world can do without
cotton We shall see. Two hundred millions Of
after detlueting The price Of the raw cot.
son. are now annually distributed among the ryorI
lng classes q Great Britain as wages from cotton
alone - eossOn
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