New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-08-11


New-OrleaDs correspondent OF me Boston
Post says, under date of July %:
The receipts Of cotton the last commercial week were
% a3l bales of which II 325 were from Louisiana and
Mississippi, much 81 II from unfrequented avenues
lately reopened When all the wa'er-courses and rail
roads are opened shall find the stock OF old cotton
In hand much larger than generally supposed From
Texas we received only 1000 bales This is due to
the fact that proper reyenueocers were not at once
appointed and all export and import trade had TO be
done through military machinery. These appoint
ments have now been made and we hope hereafter to
receive larger supply Of the staple from Texas.
An attempt has been made to cmbarram the
Treasury Department BY statements that money is
wanted to degree which will call Mr.. McCulloch
TO New-York to confer with leading fnanciers,"
represented through The Journal Of Commerce Of
this morning. Recounting the resources Of the
department it says:
We suppose that further issues Of certificates OF In
debedness may be made TO the public creditors, and
part OF the deficiency may be thus supplied The only
other practical suggestion which We have heard Is 40
increase Of the temporary loan. The banks here hod
large amount Of compound interest notes, which are
tender for tho principal but the accrued interest
Is only available ut the end OF three years from date
Some Of these have run about TWO years ana tne re-
mainder far from one year; but the interest com
pounded every six months Is an item OF some import
ance TO q capitalist able to retain them. Every Few
weeks some bank which has siriyen TO hoard these
Issues becomes little pinched. and Is forced 10 pay
them out at par. losing the interest or at least failing
realize any thing from the interest which has thus lar
accrued. -,
Il is supposed that many Of those who hold these
notes would DO willing TO lend them 10 the Treasury Tor
few months. taking In return certinca'es payanle
after the usual notice. the conditions annexed 10 the
temporary loan. provided they could DO allowed we
accrued interest we'll as the principal II the panAs
needed TO fall back them. they might hope 10 ma
the Treasury certificate as available as the ess ,enaer
While they would run further risk OF failure TO
alze the interest We should not suppose that the
banks had any legal tenders TO spare, put may De
amoupt I'm new notes were immediately dispnrsed ny
the Treasury would relieve the banks IRON pressure
by the desire to hoard these issues for the sake
OF interest and would NOT therefore be felt In the man
ner apprebended
1t is not probable that Mr.. McCulloch will take
much thought about banks A" O little pinched." He
will allow all fnancicrs' who have put too much
of their deposits into compound notes and bonds
TO get back upon solid ground by the necessary
contraction and sacrifices. He will not be SO poor
a manager as to take compound notes, now at rest
through tire accumulation Of interest, at par and
interest, giving for them certificates upon when
banks can demand legal tenders after the usual
notice. II there is an excess Of compound notes
in New.York the Secretary con make better DIS
position Of them by funding them into per cent
lO4Os OF &C per cent 20.year loan Inc
customs revenue would warrant him in enlarging
the gold loans, and contracting the short currency
scrip maturing in tho next two years. The Secre-
tarv il he chooses, will no doubt "sten to whole
some advice in relation to his connection with tho
gold operation and 0thaI apseulstosh" I9E tas 'a'