New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-04-22
.Nsto Orlears DaiIp Greseert.
FINANCIAL AND COMMERCIAL DEPARTMENT
Mtw 0rIeans MIoney Market.
CRESCENT OFFICE, No. 10 Camp street,
Gntlrdax Nfpht Anil % l2Rl.

have followed each other so rapidly, daily and
hourly during the week, that financial review can
hardly be recorded without drawing largely on the
general excitement and agitation which now exists
throughout the country. Our city has been a
military camp more than the scene of commerce
and trade; nevertheless, there have been some
sales Of produce, amounting for the week to one
million of dollars. Very fortunately there is a
very limited quantity of the great staple for sale
a few British vessels are only required to bring the
seasons business to an early close. True, there
are great difficulties arising in regard to the nego
taton of exchange, but cotton can 60 forward'h
British vessels either on planters or foreign &C
count. The flag will protect the property in this
case. About onehalf Of the crop of tobacco has
been received. Breadstufs and provisions will
come as long as sales are made and paid for.
In the general jobbing and wholesale trade there
has been some falling of-not more than expected
from the retrenchment now going on through the
country. Our great thoroughfares have been we'll
thronged daily, indicating that though the season
of travelling has arrived, there does not appear to
be SO many citizens preparing to leave gen.
orally attends the movement of the month of April
There will be light sums of money taken out of the
State for travelling purposes this season. The
North will be impoverished by the withdrawal of
Southern travelling patronage. All communication
will have to be cut off by the rules and regulations
of war, between the North and South OF course,
there will be business relations carried on surrep-
tiously; but the North is not going to suspend all
communication. AS soon as the firm determination
of resistance is made known, the Washington die
tators Lincoln, Chase Blair and others, will "back
down. The North has been misled by the action
of public prints, pretending to be Southern in in
terest, loyalty and feeling. Union, Union,
were the words for weeks, when every far-seeing
man could discern from leading Northern prints
there could be no Union. The many temporary
sojburners, who yearly visit our city for CONNER
cial and financial purposes under the impression
that the almost daily remarks were really express
sive of the public feeling, commenced writing to
their friends and principals in Northern and West
ern cities that Unionism was in the ascendant; that
New Orleans was almost unanimous for Union
when nothing further from the truth was the real
position of the city and State. Though the letters
of these correspondents not published, never
theless, the views expressed had their influence in
commercial and financial circles of the recipients
At the same time, we indicated week after week
for our community to curtail purchases in the
disc, and all to be prepared for state of war. To
the private correspondence, which, no doubt, was
conceived and written in good faith, though mis-.
taken, we may add the many lying and Infamous
letters written by hirelings traitors and spies, to
many Northern and Western journals, which were
published, and being read by the masses, every
word was believed, when the entire batch was
nothing but a tissue Of falsehoods from beginning
to end.
Very unfortunately, the agents and correspond
ents of New York bankers and capitalists (through
the months of December and January LAST advised
their principals and friends direct that the seces-
sion feeling in New Orleans was dormant, spirit.
less, had no basis, and that all was well. These
views were repeatedly expressed up to the glorious
hour of the passage of the ordinance of secession
| at Baton Rouge, and thus have the capitalists ant
| moneyed men of New York been led to loan rot
| ten and broken-down Government at Washington
| money and means to carry on a warfare, which
will result in almost total humiliation of the bust
| ness, the commerce and welfare of the heretofor
| proud city of New York. So mote it be. Now
| under state of war, we consider them enemies
They are lending their ships for the transportatio
of hordes of mercenary hirelings to reduce us
submission, and may the Vanderbilt, Illinois, Ba
tic and others follow the Star of the West to a SAT
anchorage at Slaughter-house Point, opposite t
| New Orleans.
| The money market during the week has affordo
very little for comment. The disturbed stat. j
the country has, of course, caused some trepidato
| among dealers in commercial securities resHltins
| in some instances in refusal on the part of sofat
dealers to take paper of any grade and in other,
to enhance their rates of usance. Very fortunately
the wants of the commercial community have beer
reduced to very limited scale, and some holder
can either whistle or mourn over their balances In
bank. The range of borrowers is becoming greatly
II The most important feature in moneyed circles
II and one which has attracted the attention of cap
II tests and others in Northern States, has been tn
II opening of subscriptions for the loan of five mi
II lions for the defense of the Confederated States
n On the 18th instant, books were opened to be cor
tinued open till the 10Th instant at 2 P. NJ. On tn
18th instructions were received to continue ther
open one day longer, say until to-day at 2 P.
In the meantime, the subscriptions continued t
flow in up to the expectations of the Cemm
sioners This morning the Commissioners and th
public were much surprised on receiving dispatc
\ lhet all the money required had been offered, q
appears by the following note from Mr.. Men
mnger, Secretary of the Treasury Of the Cor
federated States
NV dispatch of last night was intended to say
that you might receive subscriptions up to fiftee
III millions under the present call, and that the book
II might be kept open for that purpose. Please clos
them, as sufficient is subscribed.
| Under this order, the Commissioners are col
strained to close the books of subscription one da
/ earlier than proposed.
II The commissioners deserve the thanks of IL
| great South for the fidelity, faithfulness al
Efforts in carrying cut the desires of the COME
| Grated Government. 1t affords US pleasure to 7
cord their commendaha devotedness to the gloi
GUS cause. Up to the time of closing the lists tn
morning three and half millions of dollars ha
been taken in this city.
While, however, congratulating and rejoicing
| the signal success of the attempt to borrow none
| on the part of the Southern ConfederaGy, we ca
NOT in common with thousands of good patriots al
citizens, withhold our contempt at the conduct
| many individuals calling themselves Southerne
| | by residence and the accommodating of what thu
do worldly possess in the Sonth. Several cots
| factors who have amassed opulence by the GUILTY.
| lion of cotton, others who have realized pecunia
independence through the ramifca,ions Of the &C
ton trade, have not sub crihed dollar, while o
foreign merchants Of all creeds and nations ha
nobly come to the rescue.
III 1t will not suffice for some known wealthy I'M
III v;5 hot tInui nfa ndal m iba