The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-11-20
Gha 8e1u Orleans @rssrsut.
FRIDAY MORNING. NovEM SER 20. ,asl
gew Orleans Muneg yfarhei.
CREscRxr OrrIcK. No. % Carr STREET.
Thursday Evening, Nov. 10. lS68

We have nothing special to refer TO in the
Money market. Gold opened In New York this
morning at l34s against l3l2, the closing rate last
evening; at IL it stood al l34}, and at P. NJ il
closed at the latter figure. The movement has
been moderate, and rates throughout have been
unusually steady. Total transactions embraced
the annexed amounts, viz: SIS 900 Gold at l34l a
l35; $4,000 and $4,000 do at 1851; sl2 900 do at 1885,
$40 600 do at 1350l354 $40 600 and SIS, 900 do at
1855; $1,000, $500, $40 009, $40 900. s25 900 and
10000 do at 1854; $4,000 do at 1855, and $1,000
and $1,000 do at 1854. Sales of Silver included
1000 American halves at l34, and we now quote
Gold l350l354, American Silver coin l331l3l and
Mexican dollars l3S@l3st.
FOREIGN ExCHANGE-Wase easier to. day, owing to
the limited character of the demand. Offerings
were only moderate, and the inquiry indicated a
slight falling of all round. Total transactions EN-
Drsced only the subjoined amounts, viz: $4,000
bank Sterling at lac; $1,000 private do. ct 1453 /;
flO00 AL commercial do. at l45t; f2000 do. at
1853 10000 do. at l45l; $1,000, flO0O and f25OO
at las fl600 do. at l44l $4,000 do. at l44t !;
f2000 do. at 1915 for Gold I25 ,000f. AL com.
mercial Francs at :, and so OO0f. and 40 000f. do
at S9l4. We now quote bank Sterling at l45}0
1851 commercial do. l44k0l45; bank Francs
3.9O@S.ssl. and commercial do. 3.924@3.9ll.
Is he ;;s
ferings OF commercial sight and short sight are
still ample with but little il any improvement in
the demand. Total purchases to-day by banks
and bankers comprised only the following
York commercial sight at y cent. discount, aud
900 do. at u cent. discount, and $40 900.
$40, 900 $1,000, $4,000, and $50 900 do. at 7-l6 10
cent. discount, and SIC, 900 thirty days do
at l5 y cent. discount. We still quote 495 d
cent discount at bank, and A@7-l6 q cent. dis
count out of doors.
UNoURRENT NoTEs AND SEcURITIEs-The move
ment under this heading still shows steady i'm
provement City Notes are more in request
at advanced rates. City 10 70 cent. bonds
wanted at afaQdu
inquired for TO moderate extent. and operations
in stocks show a decided Improvement so far az
regards favorite descriptions. Transactions to-
day comprised the following amounts, viz: $4,000
City Notes at &c. $1,000 do. at 80 u cent. discount
$1,000 City 10 D cent. bonds at 7l1c.; $1,000 and
$500 do at 7llc; $4,000 do. at 7l5c.; $4,000 do.
at 72c; $1,000 Levee State Bonds at sac. u dollar;
AZ shares Bank of New Orleans stock at s3l so;
ESQ shares Opelousas Railroad at =, and 100
shares Crescent City at s2l % share.
BOARD OF BRoKERs.-At the board OF brokers.
last night, there were sales of $1,000 and $40 900
gold at 1856, $1,000 and 5000 do. at 1885, and
$1,000 city notes at 800 q cent discount.
INTERNATIONAL CoINAGB.-This question still
continues to excite great interest in Europe, and
although the report of the English commission,
appointed TO examine the measure in all its bear.
ings is adverse to the proposal OF the French gov
erDment, yet the recommendation made by that
body that an international congress should meet
to investigate the subject, may bring the matter
posal we reproduce from the Journal des Debats
the opinion of NJ. Michel Chevalier who stands in
France at the head of financial reformers. He
writes:
THE check the project of uniformity has sus-
tanned in England should not cause us to abandon
that project; but II warns US that we must adopt
a more matured plan, one more in accord with the
generally received doctrine on moneys, aud more
respectful towards the metrical system taken alto
gether, exempt from all character peculiar to any
narfirniar nd ha haa ha boz,
in the metrical system, because that system Dos
sesses authority, and is a solid stand. poiat. II
will be right also to surround the new coin, re.
CARDS the fabrication and circulation of it, with
such control and protection that the new pieces
in both weight and metal cannot be the subject of
any doubt, so that the creditor tn whom pay
ment is made may be certain to receive exactly,
without any deduction, the quantity of metal he is
entitled to expect" Deve opposing these views, NJ.
ton OF good monetarysystemi is hath unity shall
be In accord with the unity of weight, weighing
just that unity or one of its multples, or one of
its aliquot parts" 2. That as the metrical sys-
TEN seems destined to be adopted everywhere il
ought 10 be taken as the basis Of an international
money, subject, however, to the stipulation that
IN the unity OF that system the gramme would be
too small for gold pieces, COINS of 10 grammes
should be made, such coins being about once and
hall the size OF the existing 20f. piece, and to
have subdivisions of and grammes. 3. As to
the proportion of alloy to pure metal, NJ. Michel
Chevalier proposes that il shall be one.tenth be-
cause that quantity is sufficient to prevent too
rapid wear, and is in accord with the decimal
tystem. Having said all this, the great economist
emarks that as coins are only ingots certified by
the State, the efigy of the sovereign they bear
signifyiDe nothing more, it is necessary for the
credit OF the state and the convenience of the
public that they shall always contain the quantity
OF metal they are represented to consist of: and
that ii is desirable In an international system of
moneys that they shall bear the inscription of the
weight Next. NJ. Michel Chevalier proceeds to
notice the objection that will not fail to be raised
10 the coin OF ten grammes he proposes, namely. |
that it will not correspond with the coins In |
use in France, in England, Russia and the United
States; and his answer is that any coin that NAV
be adopted will forcibly differ more OF less from
those employed in certain countries aud that be-
sides the public, when its interest is at stake.
quickly learns the use of new coins, weights |
and measures. Finally, NJ. Michel Che. |
Valier deals with the question of a double |
standard of gold and silver, which is ad- |
Vocated by number Of official people, and |
a'so by NJ. Wolowski, the Celebrated professor of |
political economy. he condemns it decidedly, |
IN the name of economic science, as he has re- |
peatedly done before. the ground that il is i'm
possible to maintain fixed relative value between
gold and silver. But, nevertheless. he admits
hat If private persons should desire to stipulate |
10 pay their debts in silver instead of gold, there
s no reason why they should be prevented from |
10 doing, any more than there is for prohibiting |
payments in grain in place of in gold or silver. |
de even sees, he says, no objection to the State |
'oiniDg. at the expense Of parties demanding it. |
pieces OF silver of the same weight volume, and |
composition as the existing coins, with, how |
'ver, the condition that they shall bear distinctive
marks. and shall have no legal proportion to the
1slue OF gold pieces."-[N. Y. Commercial Bulle- |
in.
SPECIAL DIsPATCHEs.-We are indebted to the |
Western Union Telegraph Line for copies of the |
GLOWING private dispatches received from that |
cute to-day, viz:
Ne,o York, Mon. l9-l0 A. M.-Gold opened at
345. Has A. M.-Gold l34}. Cotton market
teady; demand fair. Sterling 10ss0ll0. P.
Z. Gold closed at l34l Cotton demand fair
'rices firm. Sales to-day 5000 bales; middliug
4lc; Mobile 24ac.; Orleans 24lc. Sterling
teady.
LiUepool, Nou. l9-1l:l5 A. M.-Cotton market
tesdy. Estimated sales $4,000 bales; uplands
0s@l0lc.; Orleans lOs@lld. lao P. M.-Cot-
ON market quiet; quotations nominaly IN.
s-.csAsT used-s-Ac~-asseee-b~scs o. ,.
demand good prices tending mp |
market firm. Sales to-day $4,000 bales; uplands |
Old; Orleans lid.
Ton(fOO- IQ-11.1S