New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-01-04
sen1i-Annual Statement of the Bank of New Orleans
31st December, 1850
From thc Cuban Messenger


From ;hc Cuban Messenger
HATa!Js MONEY MARKET, Dec, 30, 1860.
The condition of money market has been
worse this week than in any previous one during
the year. The scarcity Of specie in circulation,
and the difficulties arising from the opposition in
some quarters to receive as current tender the
Spanish Bank coupons, has contributed consldera-
bly, to check operations of every description, and
at 5Q12 f}ct. discount per month, it has been
found difficult to discount what is generally CON
sdered as good paper. The large exports of gold
coin during the present month have drained our
already reduced circulating medium considerably,
and the Spanish Bank coupons, taken now by
many as bank notes, will merely serve to replace
the specie that has been withdrawn from circula-
ton. The Spanish Bank, it is assured, is now pre-
pairing another issue of coupons, to the extent of
$2,000,0O0, for the coming week, which will COM
plete the four millions authorized by the govern
ment. -...
ExcnANGE-No alteration has taken place in our
exchange market since the 22d, if we except that
the general dizziness is to greater extent, and
business has assumed aspect of parallatlon sell
dom witnessed in our market 1t is true that the
intervening holidays has greatly contributed to this
want of animation. The demand for European Elk
change continues to be very limited few sales
of No. sixty days sight drafts on New ork have
taken place at T3ct. prem, and few small
i9ct prem, Some sellers of European exchange are
now lowering their pretensons, and good bills are
offered in market at 4@l T9ct. lower than last
week.
We give the following quotations, which are
mostly nominal:
Paris: 60 days sight, 1$@l Vet. prem
saasnSs9 days sight, SOC net. prem.
Cadiz 90 days sight, 4@5 Oct. prem.
New York.
P PSiSd 50 days sight s@S get prem.
Baltimore, to 10 days sight !O@15 T4ct. prem.
New Orleans, 30 to GO days sight, 5G5H J3e prem.
New Orleans, 3 to Gays sight, 10@l5 Yet. prem.
f1,o
attention of fnancers, it is not legal tender,
and consequently cannot be used in daily transac-
tons, nor in the way of payments bill is now
before Congress to make the foreign gold coins Of
England, France, Spain and Mexico q legal tender
that u.s. gold coins of Great Britain o. lilo cents T.
pennyweight; the gold coins Of France at 80 4.1G
cents 70 pennyweight, as will appear by the fol,
lowing bill:
Be 1t enacted, etc.. That from and after the pas.
sage of this act, the following gold coins shall pass
current as money within the United States, and be
receivable by weight for the payment of al debts
and demands at the rates following, that is TO say
The gold coins of Great Britain of not less thar
nine hundred fifteen and a half thousanaths in fine
moss, at "a ITO cents 7P pennyweight,
And the gold coins of France of not less thar
| eight hundred and ninety-one thousandths in fine
| ness, at 80 4-l0 cents U pennyweght,
| And the gold coins of Spain and Mexico of thu
| fineness of twenty carats three grains and seven
siXteenths of grain, at the rate of SO 40 cents
| penDyweight, and all laws inconsistent with THU
| act are hereby repealed.
Tho above would, in a great measure, relieve thu
country of the deponetzing effects of the act O
1858, prohibiting all foreign coins, both gold an
silGe,