New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-07-26
Nsp Orleans Alel1eu sIIatset.
tlEEscE u, orFicE. No, q, ca

eggsttg e5tttalla slltaittR 1kGt. 81
Thursday Z Es ss & July Jas s. ISL ISL
We could not find nything5 Of a money market
today. The mandators Of our banks assembled,
4 read over the tickleTs and adjourned to the next
regular discount day nevertheless, there were
many applications for renewals and discounts for
plantation purposes aeeeded to. The general
financial market Is calm and quiet. There are no
calls on the banks for coin The disposition to
hoard has passed away, and our community is
moving along through the war crisis calmly and
Il quietly. s H.: FL
Before the great and cver4rnemorable battle of
Manassas, on Sunday last, New York financiers
were figuring away on the probable cast OF Lin
coin, Seward & Co.'S movements. A money arti
gle 8of a New York paper, We. suppose il WAS the
News, commented as below about fonr weeks
since ell did that writer remark on the 22d ult.
that the movement had but began. BY this time
Ie will probably add that tie acknowledgement in
~ inceptions, the greatest in fact ever UNDER
taken On this centinent-has been checked, lefeaf
I ed. New Fork ii ruined. Wall street is in5saek-
cloth. already do W. learn Of ths total bank.
ruptey Of hundreds Of Wall street operators carry
ing along with, them some Of the former residents
of New Orleans. who, instead of aiding and assist
n No thern and Western railroads, coal companies
and mining operations, and from all accounts they
are now all going to the gentleman in black toge-
ther. We can only add, the ID take the hind
u most. s=t{ z H ;.:sf
When we calmly take into consideration the
large Sums of money that have been taken by these
WORTHLESS, such as Gov. Olden, George Opdyke,
& Christopher Robert, Romano W. Montgomery (this
individual was formerly President Of our Canal
Bankl Brown Brothers ! Co. {his house about
~, 900 ,G00) and many others We might name, we
are somewhat astonished at. the effrontery with
y which they regard the great Southern movement.
We learn that several of these luondam citizens
have suffered immensely on railroad stocks and
coal mine shares. The great shipping interest has
received blow from which It will meyer recover.
The Northern States are laid low, commercially
and financially with the great shipping interest,
all, all, have TO succumb to the great South.
There was nothing done. in Exchange to-day be-
ycnd few small sums for remittance sterling at
II0@fI0l. Francs SIS q TO- Everything was |
moving along remarkably quiet in mercantile cir
Giles.
"A word or two aboutsthe great house of Brown |
Brothers q Co.., several of the partners Of which |
have been very conspicuous in promoting the mea
sures Of Lincoln, Seward u Co, striving to their
utmost to raise money, and contributing freely to
sustain the Black Republican cause. This house
established branch in this good city of ours in |
they year ls37--say twenty four years ago. They
have operated in our market in exchange and cot
ton transactions to the amount of millions of doll
lars annually. AT the most moderate estimate
they have taken from New Orleans fully 81, 900 600 |
i in tWenty-four years; they have never had dol
lar of real capital invested througlstheir branch
they have interfered and competed with the reg I
ular exchange business of our banks, and of all |
their earnings in this city, there is nothing remain
ing but mahogany counter and a few desks, with I
three Or four chairs. They kept an immense amount
Of exchange going the rounds of the West in fact,
they had tremendous floating capital. Their
earnings and gains are now used for the sujugaton
of the South. NJ 5s
The New York News spoke Of the war crisis be-
fore the late battle as follows 1t will be observed
that The remarks applied to Northern States and
communities
TheSgreat question of the moment in the money I
eireIes is the financial wants OF the Government,
and the air is filled with projects for the supply Of
the Treasury. The problem is to squeeze money
out Of the public for the maintenance OF the war |
and the operators seem to follow the advice OF old |
Izaak alton, who said when frog is impaled for |
bait, { he must be handled as though you loved 7
are to pay the expenses of those who do, and that
TO pretty round figure. As large portion of the |
money IS TO go into the pockets OF iobbefs and /
contfact9rs, whose patriotism fluids profits in war
expression of ", the taxpayers must be put under
the influence Of chlorof0rm projects. That the
nation was, six months ago immensely rich there
can be no question, but it was because the people
were productivity employed and capitai circulated
freely. Every means of revenue was active Labor |
was sold to advantage, and the proceeds furnished
comforts and luxnfies to the employed, rents were
paid, goods purchased, travel frequent and real
estate, banks, insurance companies, railroads.
ships, every description Of property yielded the
owners an income which they dsbarsed to the gen
eral benefit ct producers of food and manutactur
ers of goods. and every portion of the community
prospered In the active circulation of capital
War has stricken all with paralysis. The whole /
circle ofoperations is brought to a stand. Houses
ships, railroads, banks, Corporations Of all kinds
are devoid of profits, all who depend upon them
look for loss OF income, and all of one accord |
eeonomize purchases. Factories stop, rnanufaeto-
ries cease operations, hands are discharged and |
common desire is manifest to collect outstanding
accounts and to defer payments. Produce falls in I
value to an extent that doubles the weight of every
farm mortga ge in the country, aud all holders of |
mortgages dread in the fall Of property INSULT I
cheney of security when the lnortgHgOf can no b
longer pay his interest. Amidst the universal dis
eTess there is an nsatiate demand for money for |
war purposes. Nearly one hundred millions have |
in sixty days been raised already, and the move
ment has bat begun.
II u. Ny lssloN AND FOR
y lFARRTEs Afi NJ Nos ~ Rnitons and IS Front
Pronr a, non alp. 70 ana ttfs our