New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-10-19
Nen 0rltaas Doaeg HFarkft.
oREsoEsr OFFICE, No. 10 Camp street,

Friday Evening, Oct. Is. 1861. !
The money and paper market Is becoming some
\ thing Of d bore to comment ON. Now and then q
few thousands Of dollars of paper are passed at
rates which no business at this time will Justify,
unless 1t IS d contract with the Government Our
Confederate Government is rather too liberal in
some respects. Too many worms about; in fact,
some 81 the grub character, not only in our own
ocaiitg, but the disposition permeates through the
entire Confederacy. fat contract with Govern
ment IS snre to rebound for the advantage of the
contractor The credit Of the Confederate States
new deemed as established; there is no reason nor
cause, no Justification whatever why the Confeder-
ated treasury should have to pay more than to s
got for money, or that it should have to pay more
L fer ts supplies than an Individual We satisfac-
Z toriy. show below that our Southern Confederate
Y Government can redeem the sl0o,oo0,0e0 of treas
4 ury notes now authorized to be issued in seven
y years. II It has to increase its war debt why the
amount Of taxes must be Increased. Our local city
taxes are u get, which is just three times the rate
Of the Governmental tax. II our war debt should
have To be increased for war Of three years. dura.
ton, II could not be more per annum than the mun
cipal tax now imposed.
The duties on foreign merchandise withdrawn
4 from warehouse last month were seyenty-seve
thousand dollars. Average rate Of duties paid on
$44I, 900 Of merchandise was about Is got. This
merchandise was imported months ago; it has paid
importers and owners great profits. The stocks Of
merchandise in bond are declining rapidly; 30 are
supplies Of all descriptions of staple drygoods fall
Ing off rapidly. The leather trade seems to be
under the greatest activity. Dealers and specula-
tors il leather, tanners in general, cannot but real
izelarge returns for their investments considerably
more than the great dealers in leather through the
firm Of 0yerend, Quincy & Co., London, did in their
Z showing up in bankruptcy two years ago. when
they were minus 5about 80 ,00O,O0O. The leather
trade Is now an institution, and fixed one for the
b war;
The special money market is in a quiescent state.
Gold and silver are in supply fully up to the de-
mand The rates of gold range from 100l5 pct,
Silver from solo Get. prem. the standard of cur
Z rency being Confederate notes. In distant bank
notes, say Virginia, North and South Carolina
Georgia and Tennessee the rates range from 4086
dis. Alabama 2aa9G get, which Includes the
banks Of Mobile.
The supply Of small notes il increasing from day
to day, and ere long small change will be in supply
ample to meet all reasonable demands. There may
be some complaints from parties who desire to
speculate on small issues, which we consider very
small business, though bank notes are commodity
when not recognized as a standard of value.
There Is no exchange market We have no quo.
tations to present this evening particularly for for
eign bills We don't owe anything in Europe; con-
sequently there is nothing to be RENTED unless it
is small sums for rents and to protect letters of
credit granted for travelling purposes There is no
basis for exchange, and consequently no bills are
drawn. Inland exchange is in very little request.
On Richmond buying rates range from 4@6 Set.
dis. Checks sold at the best prices obtainable.
Nothing doing in stocks nor in bonds.
On investigating the position of the debt Of the
Confederated Government, that is the issue Of one
hundred millions of treasury notes to be redeemed
by the tax of half Set on the valuation of col
lecting twenty millions of dollars per annum we