New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-06-02
cNqtu Orleans Daily Qrestent
aqrr Orleans S1lonep StaarRet.

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The NEST prominent feature in the movement in
financial circles since our last, was an advance of
] 3 cent. in rates Of Gold, and an advance of fully
2f93 " cent, in the bank asking rate for Foreign
Xchange. Gold opened quiet at yesterdays clos
Nes figures, l393@llO and some few sales trans
pred during the morning. at and under these rates.
On receipt Of the regular noon dispatches, an
nouncing a considerable advance in rates at
New York, the market became quite buoyaDt,
however, and subsequently fair amount
Of buaness Yves carried through at stead.
lily improving prices. We annex full
statement Of the actual sales in the order in which
they TRANSFERRED viz $l4 600 at 1879, $500, si5OO
and $4,000 at 1884, $4,000, $4,000 and 100000 at
1929, $5OOO 5000 and $4,000 at 1899 $1,000 $4,000
and $4,000 at 40, $4,000 and $4,000 at l4O3,
$4,000 sold in lets by one party at 1394GDl40l, and
$4,000 at l403. Sales of Silver include $1,000 and
$ljOO American halves at LET, 5000 Mexican dol.
lars at u " cent. premium en- Gold, and 1000 do.
at 2 Is cent. premium. The closing quotations
this evening are, for Gold 14O@l4O!, and Silver
I23@l27 for American coin, and l4ODl42 for Mex
lean dollars.
FOREIGN EXCHANGE Owing to the continued
upward movement in Gold at the North and the
suspension Of sales of Cotton for the European
market, all Of the banks have to-day advanced
their asking rates for both Sterling and Francs.
The demand was Of a very restricted character,
however, and sales have been confined to $1,000,
G2IO0 and $4,000 at Isl, $500 bank sterling, past
due, at 15l Gl0o0 DO. sixty days at 1856, el200 at
lO7l for Gold, and some other traing lots at cor
responding figures. Sales of Francs comprised
no round amounts Of any class, and we now quote
Bank Sterling at 15i0l55, at bank, clear bills
at l50@l52, bill oi Iadng bills l4765I43, Bank
Francs at 5.50fG5a.jjf, and outdoor Francs
3.G0fIg3.Gjf.
DOMESTIC ETCHANGE-Rates OF Domestic Elk
change have been slightly frmer to-day without,
however, disclosing any quotable variation.
Offerings Of private and commercial continue ex-
ceedingly restricted while the demand at bank for
remittance purposes is rather more active and gen
eral than heretofore. The purchases by banks
and bankers, since our last, include $4,000 and
SIS 900 New York sight, and $4,000 Boston sight,
at u cent. premium; and 900 and $4,000
bank-the latter in one check on New York--at
Lie y cent premium $4,000 thirty days sight
att y cent. discount and $50 600 sixty days at
~ cent. discount. We still quote New York sight
at j Il cent, premium at bank, and at 3G5
u cent, premium out OF doors.
BANK NoTE5 AND SEGURITIEs-The movement
in Uncurent Bank Notes is partially and almost
wholly suspended. Since the return of the bonds
Of the Free Banks from Washington, three of the
latter have been redeeming their notes at par, and
il ID generally understood that the others will
enter upon redemption of their issues upon the
same terms at an early day, while the affairs Of
the two old or chartered Banks are represented TO
be in a more satisfactory condition than had been
generally anticipated The market is almost
entirely bare Of every class to-day, and we have
not been epprised Of any operations since our
last. Transactions in Securities are also at a
stand-still, No sales of any magnitude have been
reported to-day, except in one or two stocks, the
prices of which were withheld, and the move
ment is still of too unsettled character to Justify
us in presenting reliable table of rates.
New YORK MONEY MARKET.-The World of the
2Gth ut, says:
Gold is strong aud has been much excited, sell.
ing as high as ll4, and closing at lac. The re.
bound from the low quotations attempted to be
maintained by sales from the government hoard
has attracted fresh buying from the public and
the telegraph brings numerous orders from people
whe argue that the market, having escaped the
control of the treasury is likely to touch again the
rates of the closing months of 1865.
The secretary of the treasury has lost the gold
which has kept speculation in check, and by its
sale has converted large amount of dormant in
Testments in the form Of certificates, into active
circulating money LOT winch In6Ee IS no use.
0ept in short enterprises such as are popular in
Wall street, In the absence of further adverse
news from abroad, there appears no good reason
why capital for speculative purposes should not be
very abundant at low rates. In mercantile paper
little doing. For best names per cent. has
been taken. No one in Wall street supposes
that there can be any protraeted tight money
market until some of the hundreds of millions 81
currency created for war purposes has been re.
tired. None Of this currency, whether in the form
Of greenhacks' or national bank notes. +" is
in danger of being exported, but is sure to remain
within the United States and find employment in
some form. The treasury hopes to borrow it for
thirty years on five per cent. bond, but thus far
it shows no inclination to take that direction. The
secretary will probably push his five per cent.
scheme, and to stimulate funding, pay off enough
of floating debt to fill any bank or any avenue OF
commerce with irredeemable currency.
A dispatch from Washington says: In default
of any action by Congress providing for the prompt
redemption of the National currency by the Ma.
tional banks, the secretary of the treasury con.
templates, at an early day, establishing at the
treasury department system of sorting and for
Warding to the National banks their National bank
issues
The assistant treasurer is prepared TO redeem
compound interest notes at par and interest.