New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1862-04-24
TYrFs "a RTvM ENT COLUMNS
Nam NrIfalls Nlpltp AlarkEt.

fyure
Wednesday Evening" April q, 1859
The most important feature in financial circles
to-day was the reception of a decree by some OF
tho banks from the highest authority, forbidding
the paying out of specie or coin. 1t was received
early ia the day by some Of the banks, but up TO
IL o'clock it had not been received by other BANKS
The Mechanics and Traders Bank was paying out
silver up to o'clock, but in very small sums. In
fact, the holders Of circulation of the banks nave
run ont. completely Frustrated they have no more
nromses to pay or circulation Of the banks AT
nj, early hour in the day the State Bank received
notice to suspend the paying of coin. The State
has q heavy interest in this bank and the mandate
was promptly obeyed so at the Citizens Bank, it
had to follow the instructions. 1t was, however,
very late in the day before all the banks received
+ the order en- rsa44 ~
The calls for coin by bill-holders were very
4 light through the day. We do not recognize that
the general mass Of depostors have the least claim
4 on the banks for their balances. These balances
on Saturday last were s2s,6sl 029 against sl4 no.
65S on the 14th Of September last. Is it not alb
surd for depostors since the 14th of September to
suppose they have any claim on the coin now held
bys the banks OF the sl4.71O,65s deposits on the
10Th September, how much of them, or what pro-
portion may be considered to-day cash demand!
Very trifling. The amount due distant banks on
. the l4th September was s503,s7l. This amount
only can be considered a specie claim out OF the
$2,SsI74 due on Saturday last.
IN obedience to the mandate from the authorities
the paying ont of coin was generally suspended
I before 2so'clock.
We reiterate our opinion that the scarcity of
coin change will continue, SO long as the issues OF
small notes on the part of individuals is counter
4 anced. There is an abundance of silver com IN
hooks, hide.and-seek places and old stockings
Z During the campaign of 1914 and 1915 parties
buried their precious metals, yet the enemy never
were permitted to trespass on the repositories so
Il Ut this present time. We are sangune that the
Yankees wiilnot reach New Orleans for the coming
six months, which renders it unnecessary for par
ties to be boarding. IT,
y, There was nothing doing in paper to-day. True,
there was skirmishng on the part of some would
81 be sellers Of irst-class mortgages. But we may
] ask, what are to be considered irstclass mortga
this good city Of ours should have osuccumt
q to the invaders or Yankees? A question easily
y propounded but not readily answered. If thu
moneyed men Of our city had last fall and early il
the winter followed our suggestions, Independent
Of the action Of onr legislators, that is, had the
people at once taken the war question by the
present humiliation in political, commercial ant
financial affairs. True, there is daylight and fay
N orable prospects arising every hour.
There was nothing done in exchange to-day. l
81 was bruited about that one Of the banks was pay
ing its depostors 18th September last depositors
in sterling exchange at rates ranging from los Il
AZ lis and l25. Domestic exchange is not inquired
8 for, that is, bills on Richmond, Charleston ant
Savannah are unsaleable. If produce cannot BIT
transported with CELEBRITY and promptness, ex
III change dealings must, of course, suffer from thu
want Of faith of railroad management. There
have been numerous complaints Of the inadequacy
F Of faith and honor the part of many of the in
terror railroad connecting with the Jackson Rail
road Company.
The stock market was quiet to-day. Confeder
Il ate currency was in much better feeling than las
week. There are some gatherings going on i
bank shares also in bonds. We did not, however
lsarnof any negotiations reaching contracts up t
t the close Of business