New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-11-01
iii rIsaas HIsaes Hlarktt.
orrlcrs NJ. d, Camp tree

sSF Thu day ksening OCT w 1851,
BIZ nseTsments today were confined to some
y slsa sationss of paper and the usual semi
wesk operations Of renewals sit two Of the banks.
VI cerFses III Is not scted there is any extin-
Enlistment Of debts at this tint. either to the banks
Of capitalists outside, The business and trade of
orr rty iii this time Is not dependent on gold and
Il silver consequently, these metals are like the
Il commodities III iron and lead, subject TO sale or
s barter
TAe fssue III small notes bytwo Of our banks has
v hsea of almost infinite convenience to the COM
Inunisps The issue Of small notes In cases of sus-
pension n stable and solvent banks is not without
# d precedent On the famous suspension of the
of gland ii the year 1857, which suspen-
sston continued twenty -fVe years--the bank was
authorizsd to issue notes Of one and two pounds
which, with Spanish dollars, were issued for the
" pnrposa Of making small change. The bank had
NOT fcr twenty yeafa previous issued notes under
live ponnds. Parliament Unidentified the bank for
the suspension Of coin payments, that is, an act
was passed to that effect, II Is, Of course, sur
3 missed TINT 50 strong precedent as the action of
Tho British Parliament might be taken into con
aiderason by our Legislature in regard to the sus
y pension Of our banks. Parliament also enacted
that no debtor could behad to suit for any debt or
& obligation for which he had rendered payment in
8 Bank Of England notes. just the same as debtor
iii the State of Louisiana should have immunity
& from sait Of being sued for a debt where the pre-
sent eurrsncy should be rendered in payment
Parliament also enacted that the bank should not
{ Be sned for any note or obligation when rendered
other notes in payment, instead Of coin. When the
Bank 81 Eagland suspended coin payments its
stock Of specie was reduced 70 about $1,000 00O or
4i,Gbo 900 sterling: gszs Y ssss s
Of course, our banks will go before the I,egisla-
f with the strongest precedenfst to sustain them,
ealafly al their suspension was in compliance
with tho highest authorities and sanction. True,
4 there wera SONS opponents to the measure; but it
4 has been of inmeasurable benefit to the, Southern
I Gonfeaeracy, though some Of our fnanciers and
bankers think that the measure could have been
y carried ont ID another mode. Il e ri ".
There appears to be some failing oil in the de
mand for small notes, brought about, no doubt, by
lib new issues of ives by the Citizens Bank and
I cut Iii two, The Canal Bank hasa made a new
issue Of ives, and receives all halves at their value,
and allows any holder Of Ave to cut il into two
parts Therefore, any holder Of j. eve DESTROYS Of
making change can call the scissors and cut ii into
halves The bank recognizes every half. We,
however, must remark that the holders Of tile notes
ef Inc free banks cannot take the same liberty; as
their Issues are countersigned on the left hand by
NJ the Auditor, and the notes cannot be mutilated,
either BY holder or the bank issuing them, " az
did not Isarnof any trausa d ions in exchange
to-day, nor In stocks. It was In fact, remarkably
quiet all about. asgs s's sssssaS
There have been many inquiries regarding Tie
war tax, and Oh what it il to be assessed We an
mex the 81 and 4th sections OF the act which cover
the mode 81 proceeding In regard to the funding
or exchanging the treasury notes for treasury
bonds. The taxes be collected BIZ the Gonfeder-s
ate Collectors ore ayable and colleclable from,
and after the Ist day of May next
SIC s.. The holders OF the said treasury notes
mays at any time, demand in exchange for them.
bonds Of The Confederate States, according to such
regulations Al may he made BIZ the Secretary of
the Treasury: Bat v henever the Secretary 9of the
Treasury shall advertise that bio will pay OF any
portion of the said treasury notes. then the pfvf-
aege OF funding as to such notes shall cease, unless
shah be failure to pay the same Id specieon
sEu. Il That, for The special purpose If paying
rcipal and interest of the public debt. and
~ ~ the 0ayerEfnent a war tax shall be
assesaed ald lsvied Of Toe each 100 ID value
Df Tie allowing roperty Iii the Confederate States
namely real estate af ailakind, slaves, ierchan-
disc bank st0eksy railroad and other corporation
q etec money st interest, or invested by ind-
s.euas ah .ue purchase o. bills notes and ather
1 Ieasfa9e ntates Of America, and cash On hand or
on depositan BANK or nlsew Where's gold Watches gold
tAa AltNtf paw pianos and pleasure carriages =.
provided, however, that where the taxable nro
perty herein enumerated of aay head Of d family,
is Of yalue less than $500, such taxable properly
shall be exempt from tagation under this act and
provided further, that The property Of colleges
schools and of charitable religious operations or
associations actually used for the purposes for
which such colleges, schools, corporations OF asso
Citations were created, shall be exempt from taxa.
tion under this act and provided further, that all
public lands and all property owned BY d State for
public purposes be exempt from taxation.
Our Congress must have been nappipg when the
Foregoing actfwas passed. Gold watehesare sub
jees 40 taxation. but silver watches may be con-
sidered aa excluded. This meets our case exactly.
We hsye an old silver watch which has been in our
family for nearly forty years--is Is worth dozen
of tha modern gold PATCHES. Now ON old silver
watch, which issas true as The san can go scot
free. We beg assessors not 20 trouble il The law,
says. gold watches only are subject to taxation "
We will have an old silver turnip on the flags to- i
morrow.