New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-12-19
Nep @rltats Nlolsg Alarkat
] cgrscgsr orFIcr, No 20 Camp 81

csrscEsr orElens No 10 Camp street. /
Wednesday Evening, Dec. 49, 1861. S
y The general financial market moved along very
quietiy to-day. The banks renewed and discounted
as usual, which usual means, that they granted all
applications based on legitimate transactions.
] There is some speculation going on in moderate
y way, bat would be more extended if ali or even a
share Of applications should be recognized. As
for an outside paper market, there is not an apol
ogy for such. Brokers, dealers, capitalists and
lenders Of money were to-day confabhing on the
intelligence Of news from England the arrest of
\ Messrs. Mason and SlidelI, 0ur capitalists look on
ha action q the British Government in this matter
with great interest. We shall have to wait another
+ week 10 know what course the British Ministry will
pursue. In the time, there Il nothing arising
that should change the course, of the money and
paper market. Money should decline fplIy2 to 8
get. that Is, paper which is now ID demand at 10
Il la get sheuld not command on the street more
than 500 Tct,-not above bank rates. Two Of
our old chartered banks are restricted TO 8 Set.
and the Oh er two To and for paper having over
I2o days to run The Canal Bank cannot, by its
charter, charge over 8 Oct per anRum, and on
1 paper maturing inside Of four months it cannot
charge over 6 Set, per annum. 4.
ii bill has been brought before the Legislature
~.
4 maximum. We thought that this question of in
terest settled IN 1852 and that our legislators
would not be called on again to pass statutes regu-
1ating the price of money. We have not copy
sSsof The proposed bill before US. Laws fixing The,
price Of money rates Of interest never were re-
Il gardad and never VIII be respected It is d waste
!. Of time to debate the usance Of money. Money is
nothing more than d commodity with, Of course, a
Md NJ
nerce. " . trust our would.be Physiocrats, will
u leave the question Of usance and interest where il
!; is. Weare getting along very well.s ss
The stock market was very quiet to-day There
was sale 81 Canal Bank at las. A dividend il
s expected I'd be declared ON this stock ut Mon
day. The shares Of the free banks were held
higher to-day. under the favorable Indications on
the part Of the Legislature.
The annual election for Directors of the Bank Of
America was held to-day. The old Board was re-
turned unanimously, with one change-Mr Aug
+ Dessommes taking the plaeeef Mr.. Louis Dessom.
mes. The following gentlemen compose the direc-
tionfor the next year: Messrs. VIM q. Hewes, j.
E yiosca, ST., a. B. Charpanter, John Hughes, La.
fayette Foiger, ~ m. Whann, Cornelius B. Payne, 1
Leon Queyrouze, VIM. B. Schmidt Charles j, Leeds.
Charles Cavaroc, .. H. Harris, Aug. Dessommes.
In this Board majority Of the great interests,
commercial, mechanical and Industrial are repre-
sented-say the sugar, cotton, ship building, gro.
Ger, hardware, dry goods, aHdthe great steamboat
interest IN the person of VIM. Whann. In fact, the
one horse team Is turning ont something OF i first
class locomotive , II
i AS there has been much talk about our banks
and the course our Legislature would adopt toward
them, We have to state that bill of amnesty has
4 passed. tbs Senate Of the State almost unan
mously which We consider grants general relief.
The hlltelieves the banks Of all penalties for the
suspension ofScoin payments, carried ont by the
Recommendation Of the Governor Of the 14th Sep-
femher last The bill granting the seven banks
ganized under the General Ranking Law enlarged
privileges has also passed the upper House. The
financial and commercial communities are mueb-
relieved and an improved feeling was observed
To day in all circles, excepting oi course, among
the skinaints. We append the two acts, as passed
the Senate
AN Act autlosise ire Free Bsfs now exisag Is issue
stseuag s9ss +, with odis
@ III The Senate of Louisiana, December 10th. 1861.
z Mr.. Solomon, from the Joint Committee on Banks
and Banking. submitted a report accompanied by
the following bill, which was passed 10 second
reading: ..64
of Representatives Of he STATE of Louisiana, IN
General assembly concerned That the Free Banks
DOW existing iii the State be and the same ST.
hereby authorized to issue circulating notes 10 pnr.
suanee Of the provisions OF an ordinance of the
late State Convention, entitled g an ordinance
relative 70 free banking corporations ID the State
of Loisisda - provided, that the amount of cir
caatAg NOTES Issued BY any bank Bud ionis audtng
at any one tiGe shat mot exceed tlfse1onrths of
Tie anichntof the capitol thereof paid n,including