New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-03-11
Neh OrIeans 9ailp Crssfent.
FINANCIAL AND COMMERCIAL DEPARTMENT.
GLEN 0rleans Monsp HEarket.
CRESCENT OFFICE, No. 10 Camp ST
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gen 0rIeans Donsu IEatket. il
CRESCENT OFFICE No. 10 Camp street. | II
Saturday Night, March Q. 1861. { | g.
The changes in the affairs of the nation, that was,
ave formed the chief features in all crces-com- |
1erclal, financial, political and socal-for the
Teek now closing, and though the events were ex
ected to have created some commotion in COM "
nercial movements, yet it has not been realized. :
70 the contrary, the Inauguration at Washington y
N Monday last has had no effect or influence what
.ver the great cotton trade. The King still
ules supreme. Financially the movements or
policy adopted months ago have not been changed.
Dur banks having been preparing for months, have
nothing to change, no deviation to make. Some
Isolated holders of money, dealers in paper may
have clutched their balances with more tenacity,
but this is all the variation for the week amounts
TO. With more than average movement in the
great produce trade Of our emporium, the week
closes as satisfactorily, and in many respects more
SO, than any previous week of the season. The
only drawback is the great falling off in the re-
ceipts of cotton which may prove of some disad-
vantage where large advances of last year were
expected to be refunded The sales of produce
for the week amount to FIVE millions of dollars.
The movements in exchange amount to two and
half millions of dollars. The great trade and COM
merce of our emporium has. however, reached and |
passed the acme for this season. Notwithstanding
there is some croaking, there does not appear to |
be any distrust in the future creating. Over two
thirds of the cotton crop have been sold, and pay
ment received; the greater part of the exchange
made has been paid for but it is hardly necessary
to alude to cotton, whatever proportion may be |
Insold. Tie article is strong enough to carry |
itself through, round, over, and in all ways make
itself respected. This is manifest by the move
ments during this week. direct in the receipt OF de-
pressing accounts from Europe, our market has
been unusually active, and from the reduction in
estimates, the future of the market for this season
can be controlled on this side and 30 with sugar,
the stocks have now reached those low figures that
it will not require any unusual skill or be attended
with any difficulty to control the balance of both
sugar and molasses for prices that may be more
remunerative.
Among the important events of the week is the
change in the great inland or interior trade con-
nected with the West, or the non-confederated
States. All these States are now regarded as for
| eign nations. Steamboats, trading with them are
compelled to enter and clear at the Custom house.
There will be some information hereafter realized
| from this course, not heretofore attainable. We
shall have full returns, and ascertain the quantity
| of produce and merchandise exported or shipped
to the different inland ports, and closer approx
nation to the extent and value of our trade be OBJ
tanned. After few weeks working of the laws of
the Confederated States, the eXactions and require
ments will be less onerous than supposed.
The great shortness of the crop of cotton in the
section of country bordering on Red and Ouachita
rivers is having telling effect on some branches
of trade. The purchases of merchandise are not
to half the amount of former seasons, particularly
Of dry goods, clothing and fancy chores in gen.
eral. There will be good results from these re-
trenching movements; there will be the less debts
to cancel out of the next crops. The trade, OF
course with Red river and Eastern Texas is nearly
over for the season with Arkansas river there is
some trade to be realized, but only to moderate
extent With Florida, South Alabama, Georgia
via Apalachicola and Southern Texas, there has
been fair business done. The demand for bread
suffs and provisions for these markets being still
free the stocks of all kinds of Western produce
large, and will accumulate for few days. Many
shipments and purchases made anterior to the est
February are to arrive, particularly cargoes c
boats out of the many small streams which hav
been detained for rise in the water.
In the general wholesale and jobbing trade, the1
have been some sales, some few hundreds of pa cl
ages of merchandise turned out during the weel
sufficient, it is presumed, to keep our dealers an
| merchants imbbed with the notion that there
| such a thing as business still in existence. Their
is remarkable good demand for special kinds
hardware, manufactured for war purposes Lea
is also in good request, while the manufacture froI
sulphur and saltpetre are in eminent reQues
Large receipts and consgnments of the most re
cent and latest inventions of these several article
are received by every arrival from the foreig
States of New England. They will receive Soutl
ern money and Southern cotton still in all thes
States.
The great clothing, shoe and hat trades have nc
received anything of an impetus this week. Their
have been some sales. It is & deferred question
we suppose to know how many millions of dollar
more New Orleans has to furnish for the suppol
of the clothing manufacturers, seaTlstresses an
tailors of New Jersey, New York and Connection
Can that as,de fnancier, the ex-clothing dealer
New Orleans, the now chairman of the self-const
tuted Board of Currency of New York, Geore
Opdyke, L. Q. s., inform us?
The grand fancy and retail business, that is, til
silks, delaine, purple and fine linen trade, mill
merry, Jewelry, ETC.. etc., consregated on the gran
boulevard, Canal, has been in something of bs
tweenty this week. The broad,fags of Canal, {
well as the narrow walks of les rues Chartres an
Royal, have been well thronged, yet the gro
amount of sales affords no cause for exultatiol
that is, the remark of so many thousands of dola
will not apply to the movements Of this weel
Wagon loads of cotton and extra hogsheads
sugar are not come able for the pleasure ar
ambition of crnolinedom.
: Nevertheless, the large movements in produ,
=. have called into use large sums of money, but IL
greater part, the lions share, goes to relieve Il
memorable demands of horde Of distant credito
for obligations held, half of which might ha
TO- been dispensed with if devotion and regard
n. Southern interests had been paramount when Il
debts were contracted. We find that the bank I
= turns, made to the Board of Currency day,
g not show any material changes. The specie Ii
shows an increase. 1t is now higher than ever h
fore. The previous or next highest was on t
10Th of March, 1859, when it reached SIT ,0l3 8!
The line of exchange is also well up, and assumi
exchange to be equivalent to coin, the eev
=. banks hold to day So ,2j3,9S6 cash assets agail
$50 703,1 III immediate demand liabilities, s
circulation, deposits and distant balances. The