New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-06-21
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CRESCENT OFFICE, No. 10 Camp s

Thursday Evening, june 2os 1851
The usual stagnancy of the season appeared to
ruie supreme to-day; it was possibly increased by
the war feeling. In and about the banks 1t was
very quiet. AS they have all made some money
CHS season. and can declare the usual dividends, if
highly necessary" they take the crisis as their
patrons and customers do-cool, calm and easy
In the tonsorial way there does not appear to be
only very little inquiry for money. The 2@3 u
1T operators Tin good and evil tmesl are COM
plaining Of dulIness and Inactivity in fact, there
Is no business which will warrant EOS yet. usance
Though there is a large amount of money unem-
Hioyed, the applications for 1t are much reduced
below former years, and as we have before re-
znarked, our community is realizing how little
money is required to conduct operations from day
20 day, and week to week.
The Bank Department Of New York, which has
powers akin to our Board Of Currency, has been
winding up the old defunct Bank Of Albany, which
led of in the pile Of bricks order last month in
auspending payment The securities were COM
prised Of New York State Bonds and United States
Government Stocks. New York State Stocks sold
at 85@86, or Is Oct. dis; United States Stocks at
7S@7SI, for 5 $9ct.-worth year ago lIO@l15.
There was little retail business going on to-day
in Exchange. Checks on NewYork were selling at
H. L
balances in New York to about $50 900. As soon
as this sum is drawn for, the old Agamemnon will,
il is presumed, close accounts with Black Republ-
can New York. We did not learn of any sales of
outdoor sight All transactions of this kind (selling
drafts on New York and receiving pay for them)
are implicitly aiding and abetting our enemies
Our authorities will, no doubt, deal easily with the
immediate violators of the statutes and rules of
will ha diui6 Ia IF har
other companies, but Northern stockholders can
not receive them, nor can parties or agents receive
such dividends under powers Of attorney; in fact
"a true and full Interpretation Of the position of
affairs at this time resolves to this point that no
powers Of attorney, no delegated authorities, ema-
mating from citizens of the old defunct States, can
III recognized in our State, and party who has
been asserting that he can use the laws of Lou
siana for the collection Of debts rents or dividends
for the benefit of alien citizens Northern citzens)
will find that he is involving himself in mesh of
difficulties, out OF which may grow charges Of mis-
prision of treason. Tenants owing for rents can
pay the same intothe Treasury of the Confederated
States Citizens of the old defunct States who are
now in our city cannot bring suits; though they
say they are residents, they have not voted nor
resided here for years and years past. Some OF
of years since. There are other pseudo citizens
which may be styled the g milk-and-water class, "
who cannot avail themselves of the laws of Lou
siana to coerce debts. 5..4
We take the following Communication from the
London Economist, of the 18th April
INDIAN VERSUS AMERICAN COTTON.
Z 10 the editor Of the Economist
SIR-The City article of yesterdays Times CON
tanned letter on the probable supply of cotton for
yynn yxhin TINA fnI
on the part of the writer that some understandable
prejudice existed in the minds of Lancashire manu-
faetuTers against the use of East Indian, or it is
usually termed, Surat cotton of which it is alleged
hut for this prejudice, almost any amount could be
supplied. It is impossible, says the writer, to
ascertain what are the real objections on the part
of English manufacturers TO Surats.
lit is not only not impossible, but it is very easy
Any Lancashire spinner or manufacturer could at
once give the required information; and we need
scarcely observe that TO charge men Of business
hike English manufacturers with a "prejudice y
against any article which is cheap to buy and pro-
htable to use, is simply childish The objections to
Surat cotton Gas compared with Orleans or Amer
lean deseriptions) are intelligent enough.
/, In the first place. it yields more waste" to
speak technically ie it loses more in the process
of spinning. This arises partly from the fact that
It's usually, though not always, more full of dust
and dirt, which has to be winnowed out; partly
from the fact that this dirt is commonly of heavier
sort than that Of the Orleans cotton; and partly
from the fact that most of the cotton is of SO short
fibre that it flies away in the process of cleaning
The result is, that whereas 10 lbs of Orleans raw
cotton will yield perhaps net, 10 tbs of Surat will
only yield lbs. or u his
W. The Surat cotton when cleaned, though of a
richer color than the bulk of the American is
always much shorter in & staplen or fibre; the
result of which u.s. that in order to make it into
equally strong yarn, it requires to be harder
tTistedsay, the one quality requires twelve turns
per inch, while the other needs only eight turns
Ihe consequence is (the technical reason it is use
less TO egplan) that the same machinery will give
out from 10 to 20 59ct. more of American yarn thar
of Surat yarn.
d. The work.people most prefer the better, OF
american quality. The yarn produced from i
spins better and the spinner, Consequently, car
turn out more Of 1t; it breaks less, and conse
4uently, the weaver can weave it with less inter
Euptlon. Inc WofB-people can earn better wages
In fact, when using the higher quality of cotton
and, Of course, have strong prejudice in it
favor
4. The cloth made from Surat cotton. though q
an excellent color, does not take the finish, 81
well, and is apt after once washing to look poo
aud thin. The reason is, that the fibre of the Sura
American, and does not absorb the bleaching mat
ter 80 thoroughly, and, being shorter and les
tenacious, is more easily washed out
In shers, in all respects, except color, the India
cotton is an inferior article, and as such can onl
hnd purchasers at such relatively lower price 0
will compensate for the various disadvantages {
using it. Still, it is largely consumed and wi
always continue to be consumed when 80 93c
cheaper than its rival.
am, yours obediently,
+ A PRACTICAL, MAN