New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-03-04
Qso OrIeans 4aiIp Crsstent.
FINANCIAL AND COMMERCIAL DEPARTMENT
gen 9rleans flontv IEarAet.
IT. n ii 7

E1'NTV S""ShFtb~ rSIShDNtR cySFbfh"fs |
-
Saturday Night March 2. 1851.
The termination, the end of the Government of
the heretofore United States of America is at hand
The expected crisis, which has occupied the
thoughts of the people for months past will be on
us before many days pass. Financially and COM
mercialIy, our community is prepared. Our bank
ing Institutions all under the strongest attitude
as will be observed by the returns and remarks
below. During the week now ending the telegraph
has been lavish in all sorts Of dispatches purport
ing to be intelligence Nothing Of any real, relia-
BILE character las formed any great share Of the
mnltitudious advices. Tonight there were some
reports of what the Inaugural will say on Monday.
If the intimatons prove received, we shall not |
be long in state of suspense, and general pre-
parattons (some OF which we know to be in an in
cpient state) should be carried out.
The business for the week, though interrupted |
ESQ far as our greatastaple forms share) by IN
favorable advices from England, nevertheless has
been on an average of the season, the amount |
reaching three millions nine hundred thousand dol
lars. The sales of cotton have been 5000 bales |
above the corresponding week last year, and sales
| of sugar 1000 hogshead5 more. The movements in
other descriptions of produce have been common
surate with former seasons in fact, there cannot
be any complaints regarding the business of the
week. True, falling off in the sales of cotton
since Thursday is paramount feature, but it is
presumed the cotton not sold will be ready on the
next favorable turn on the Liverpool flags; that
cotton is abundantly able to take of ITSELF in
defiance of the action of the Bank of England, is
manifest from the general desire Of operators to
possess all they can at slight concession, or as
fast as can be realized to meet purchases.
Exchange is averse to rapid movements
The great increase of the receipts Of Western
produce, and the large quantities known to be en-
route hther keeps large amount of money in cir
cuacn. The demand for breadstuffs and provi.
sons for Alabama, Georgia, Florida and Southern
| Texas show little falling off For Northwest Lou
siana and Northeastern Texas, the decline is
what more marked. The supplies forwarded up
Ped river this season have been large, and with
only half yield of cotton from that section, the
pressure on the financial position of that region
will be heavy, and the most liberal Indulgence,
proverbial to our community, will be Required
until another crop arrives in market.
As regards the general jobbng and wholesale
business, there have been some sales. Here and
there, in morning, may be seen packages of
merchandise, marked for some few of the numer-
GUS towns and villages in the INTERIOR the trade of
| winch OQgUb 10 center uere, Jul ~ IS uEhWu away
by the enticng mode of credit in Northern cities,
where they sell to every one that can show he can
pay fifty cents on the dollar. dry goods jobber,
a hardware dealer, grocer, can operate in New
York and Boston to ten times the amount of his
capital, even ifhe should have borrowed such cap
ital to start on 1t is manifest from the success
which has attended the jobbing trade in this city,
particularly that of dry goods and its coucomitant
! that hoo NJ hnn 6atn
ton in these branches of trade in city. That
these as well other branches of trade, say hard
ware the shoe trade, have not received from our
moneyed institutions the same encouragement and
sustenance as has been at all times granted by the
Banks in Northern cities We will cite an instance.
Within the past four years, worthy house engaged
in the iobbing and wholesale trade, wanting to an
ticipate only the sum of ten thousand dollars, ten
derered to one of the banks forty Thousand dollars
of the paper of its customers residing in different
parts of the country, all believed to be good, offer
ed this 900 as collateral security for the loan
a purely business and legitimate proposal. Ye
this house, in good standing, perfectly solvent ani
with surplus, could not be accommodated. II
New York Philadelphia or Boston, the par
ties if located in either OF those cities could hav
raised the entire amount of $4,000 the sam
securities, on which only $4,000 was desired il
this city. At the same time transient residents
summer travellers and pleasure seekers were Dor
rowing and anticipating oil they desired to taxi
out of the State, to spend in general pleasure and
in sustaining Northern watering places, building
up Northern villages, going to Paris, and all this
that and the other.
The general, local and fancy retail trade of the
city has yielded favorably for the times Some of
the fine and gorgeous stores on the grand bOIle-
ward have been crowded during the week, but
whether the great throngs of citizens were merely
shopping excurtionsts, we cannot say. The stocks
of merchandise, fancy staple, including millinery,
haberdashery, jewelry and all, are ample for twelve
months mofe. Though the cry of hard times re-
veberates, it is no more than was expected, and
creates no surprise whatever.
The great real estate market is dull, fat; about
as fat rs it can well be. Some few sales are made
occasionally on account of secessions. Vacant lots
are about as dull as ever before known. Our CAPT
talists or money lenders, might aid city greatly
by loanng or advancing means to mechanics and
others DESTROYS of securing homestead aud be-
coming permanent citizens. If an individual, who
has paid for lot of ground, is DESTROYS of building
would it not be advantageous to the general pros
perty of our city and its future for capitalists or
owners of money to loan parties the means to pro-
coed in their improvements and building, taking Of
course, mortgage and lien on both ground and i'm
provements7 But such investments meet with no
encouragement with money lenders they do
not want anything but what can be turned into
cash and placed in their breaches pocket in about
! fifteen minutes.
The weekly return of the banks this morning is
: very strong one. Some of them have every dollar
of circulation and deposits on hand in COIN There
has been some little increase in discounts, but it il
\ trihing. The exchange balances have decreased
This is due to the deduction at the Bank of Loui
siana of its last importatons of gold, which, when
received, are credited to exchange account The
! circulation shows an increase. This would be
b larger, but the Citizens Bank is retiring all its
issues of five dollars.
!, The following are the changes for the week
increase specie Observation-Disclosures. ..S3S5771
in circulation Of. 3ti,l4
in posts proper ot.............. lbs ISL
in short loans of llG,ug0
decrease IN exchange o.. 2i6,l5
An in distant balances of 5t,3I5
| The variati n in long aud shot ioalls for the week
is an ncrens1 Of ,Sl4920S
The movements for the corresponding week last
year
"