New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-08-24

do. atl96; 100 do. Louisiana state banA az -s4
and 200 do, Canal Bank at 5s3, ...=.M
BOARD or BnoxERs,2 There has been no move
ment of any Kind OF The Brokers Board to-day' |
and we therefore have no sales to rePoFS t'''S
| evening for administration.
SPECIAL. p1spAronEs,-We again aeNhoW4eose
our indebtedness to financial ana eo'ameFo''l
frisnds for late private dispatches, which we
herewith, publish, as follows, viz:
Nc. yopr August 2S.-Gold opened at 1903.
| cefton dull and nominal at 3S9S5c'
I.1vrnroob. August 22.-United States 5-2O's TO-
| Np,y YORK. August 2S.--1l A. M--Gold l494,
| Cotton unchanged. Exchange steady'
NEW YORK, August 2S,--l2 M,--Gold 1893. Cot
ION dull and nominal at SSGS5c.
! LoSpoN, August 2S.-l2 N.-Bank of England
discount rate reduced to per cent.
NEW YoRK, August 2S-1 P M--zGold l492.
Cotton quiet at S3@36c. Sterling Sight ll04.
CERr1pIoArEs OF ISDEBTzDNEss.-Th latestst
Louis Democrat at hand remarks as follows:
The certificates of Indebtedness have ceased to
figure in the statement, In tie June return these
were S43 025 900, siuee which period they have all
been paid off, and by SO much the national finances
| are relieved of their confusion. Quartermasters'
vouchers disappeared some time back. The one
and two year FIVE per cent. notes were cleared on
4 befares4he June statement. 1t is understood the
temporary loan will be the nextitem TO disappear,
HAtSAA4N4 " WY LIZ 9evS fs1S,
interest remains to be seen, It is stated that the
secretary proposes to adopt the plan Of q gradua
reduction of interest on deposits-a moEemell'
that can hardly fail to be producc7a OF much
good.
The same journal adds;
The mast week has been unmarked by any I'M
lportant change in financial affairs. The applica
tons for loans were on moderate scale only, Du
al there is no superabHndapce of currency, tht
/ banks still scrutnize closely all paper offered
I Borrowers experience no difficulty in negotiating
loans on frst-class paper, hut paper falling unde1
J this standard generally seeks the street for pur
! chasers Rates Of interest remain steady at l0pe
cent. for first-class signatures. Street rates eX
hibit wide range, being quoted from l@2 pc
, cent. month.
! The gold premium has been gradually stiffeninl
, during the week, the market closing to-day a
T 1903 buying and 1913 selling. The advance i at
tributed to the fact there IS now no margin q
I five tWenties between New York and London
which has induced short sellers in the seaboar
cities to buy more freely to cuYer their contracts
I in anticipation Of demand for export, whlc
! might carry it still higher
t THE SECRETARY OF THE TREAsuEY.-The Ney
I York Shipping List says: Secretary McCuloc
4 / is evidently guided by two rules in his manlpula
ton of the details of the debt. The first Of thes
# is smplifcation whereby every form Of indebted
e ness except bonds and legal tender notes, may b
v got rid of and the second is, to convert ever
!, | evidence Of debt possible into such shape a
II / will enable him, eventually, to fund them at
q | moderate rate Of interest into long loan. Tn
" | means he has adopted to carry out tins pohe
/. have been to exchange ten,forties for fyetwel
lies, or, if necessary for seyen-5hirtes The TEL II
id forties stand in the way of funding, because th
ii government has not tile option of paying them 0
Of Until after February 1874, while the option
paying fye-twenties, or portion OF them, CONT
"a into form next April NJ
The seven-thrties fall due so shortly, and are $
r readily exchanged tor fye-twenties that next !
e the faYorite bonds they axe the best issne Mr. MI
IN Culloclr can make 1t win be seen by the for
n going figures that WeshaFe commenced the redut
ID don Of the debt III good earnest-at the rate
III over Sl24, 06e, 600 per annum and that TOO, N
iD Httle more than year after the closing OF tn
V var. We do not, however, advocate too long
h continuance of this generous effort, and after
is year or TWO of the present taxation, SHAH be GA
1t " see the pressure onthe people slacken paet
r. and a. moderate sum set apart annually for ID
j more gradual payment Of the debt. .Posterit
sst would have a right to complain il we were I
4 throw all the burden on their shoulders, at tb
same time we should be unjust to the present gel
II Grafton, who have sustained 50 great 2 person
vi loss if we compelled them to bear al tie cost
itl the preservation Of the Union.