The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1869-01-17
gem ORLEANS yflonsp yfiarket.
CKkscKSr OFFICE, No. - OAup srrrxr.
Saturday, Evening. Jan. IL. 1880.

NJ.
il was quoted at 1864, and at pm. it closed AZ
the latter figure. There has been but little if az
improvement in the demand here to-day, and the
total sales were restricted to the appended
s so v5: 5000 and $4,000 at 1861 $1,000.
1864 $1,000. $780, $1,000 and $500 at 1861 !:
$4,000 at l36S@l364; and $500, $4,000 $40 600
$l5 600 and $4,000 at 1864. Sales of Silver
included sZOOo American halves at 1872. We now
quote Cold at 364@l364 American Silver CON-
l3l4@l323; Mexican Dollars, l37l0l3SA.
FOREIGN ExCHASGE-The tendency of Sterling
and Francs, 10 day, has been In favor of buyers
throughout, owing to the reaction in Gold As
the supply OF commercial foreign bills is still very
light, however, no material alteration has trans.
pred in quotations. and the total actual sales
comprised only the subjoined amounts. viz: ssO0
commercial sterling at l47, fl500 do at l47t.
f3O0O bankers do. at l4S4 and 20 00Of private
the close of business this evening were l4S50l4sl
for bank sterling; l47t@l4S for commercial do:
3.SC@3.7S4f for bank francs, and 3s23CG3. 81 Il
for commercial do.
DOMESTIC ExcHANGE-The supply of aud de-
mand for Domestic Exchange have disclosed no
alteration of any kind since our last, and rates
have ruled throughout precisely as quoted this
morning. Parties who want TO remit still hold on
for lower figures, however, while most holders
confidently anticipate still higher rates. The
total actual purchases by banks and bankers to.
day are comprised in the annexed summary, viz:
0000, $40 000 $25 000 s35 0OO $50 900, $55 900
and sl20 goo New York sight at IL cent discount:
100000 do. at ll-l6; $4,000 and $4,000 do. at Z;
$4,000 fifteen days DO. at Ii; $4,000 aud $40 900
thirty days do. at J. and $4,000 and $40 900 Bos-
ton sight at 58 cent. discount The closing quota.
tons this evening were S8 cent. discount at bank
and s@4 u cent. discount out of doors for sight
checks on the Northern cities.
UNCURRENT NOTES AND SECURIrIEs-Transsc.
tons under the above heading have disclosed but
little activity or variation to day. Offerings of
most classes are ample and the demand is still
steady, if not active, but there is a marked dis
crepancy in the views of holders and buyers as
regards prices, and the total sales since our last
have been restricted to the following operations,
viz 10000 City Notes at S59 d cent. and $40 900
do. at Sc f cent discount; $4,000 and $4,000
ore year City Ten Per Cents at SIC. q dollar
$4,000 Metropolitan Police Warrants sold last even.
ing at &c., $ll 900 and $40 900 Six Per Cent Leyee
Bonds at Ga $4,000 do. at Ga, and $40, 900 and
OOO0 Eight Per Cent. do. at 500. so shares Lou.
isisna State Bank stock at $40 ID share so do.
Union Bank at $50 so, and $50 do. $50 62l %
share.
BOARD OF Brownsville following comprise
the sales at the board tonight, viz: $4,000 Gold
at 1864 $1,000 and $4,000 City Ten Per Cents at So,
200 shares Citizens Bank at sl49 ~ share, $50
shares Bank of New Orleans at $50 S73 per share,
60 do. at $37 ~ share.
SPECIAL DIsPATCHEs.-We are Indebted to the
Western Union Telegraph Line for copies of the
following private dispatches received from that
route to-day, viz:
Ne,o York, Jan. 1910 A. M.-Gold opened at
1861. IL Mold 1864. Cotton demand fair;
prices firmer; nominallyt midding 29lc., Mobile
30c., Orleans 3Olc. Receipts for the week 6645
bales net; 25.l25 gross. Exports 6345 to Great
Britain; 1865 TO the continent. Sales As 445 bales
Stock 40 GOO. Receipts at all United States ports
70 900 bales. Sterling steady. 8 P. M.-Gold
closed at 1864. Cotton market irregular. Sales
3400 bales; middlng 29t@29lc., Mobile 29lc., Or.
leans soc. Sterling steady.
Inn Il arIra
frmer, but not higher. Estimated sales 10 900
bales uplands ll3@ll5d.; Orleans ll31.
London, jan l6-ll:l5 A. M.-Consols SO.
s. 20s 75t.
Haure, Jan. 6-Eyening-Cotton buoyant;
tres ordinare 1884; low middling shoat 1851
Com CoNTRAcTs.-The New York Commercial
Bulletin says: The National Board of Trade, in
session in Cincinnati, by vote of three TO one,
adopted the following important report on the
subject of coin payments:
Resolued, l. That it is the sense of this National
Board of Trade that Congress should, at its pres
ent session, determine the time for the resumption
of specie payments.
2. That this board recomm ends TO Congress-
that il provide by law that national bank shall
be allowed to sell any part of the gold hereafter
received from government, as interest upon the
bonds pledged for its circulation until such time
as the entire amount of the reserve required by
law TO be kept by the bank shall be made up of
coin.
3. That we recommend that no further sales of
gold shall be made by or under the authority of
the government of the United States.
4. That we, in the language of the resolution
passed at the Boston convention, recommend to
Congress the enactment of a law authorizing con-
tracts to be made in writing, which shall be paya-
BILE in gold or silver coin, and securing the specific
performance of such contracts.
5. In the language Of the same body, resolved |
that the national honor and good faith REQUIRE |
that the government should not avail itself of the
right to pay of the fivetwenty bonds until by |
general resumption Of specie payment the public |
1ebt, as it natures can be paid in specie or its
equivalent.
The Ohio State Journal comments on these re- |
solutions as follows 1t will be observed that in |
he fourth resolution the board take ground 10 |
avor of securing the specific performance Of |
contracts made for the payment Of gold and sill |
7er. 1t is significant of the sentiments of the /
hrewd business men of the country, when three
ourths Of the members of the board of trade |
composed as it is of men Of all political parties |
hus unequivocally declare their opinions on the |
INFECT Of legazing gold contracts.
There is but one opinion In regard to the duty |
If Congress in the premises, among men who |
rave given this subject thought. To do business |
With that medium of exchange and measure of |
Iaue, which is acknowledged the world over to |
,e the BEST is unlawful 10 the United States. For
men TO keep their accounts and regulate their |
transactions by the proper standard |
# value, is without the sanction or protection of
aw. To state this proposition is to exhibit its alb
urdlty.
This large class Of business men who DO bust
less with Canada, England and other foreign |
Countries. would do all this business on a gold |
,asis if the laws rendered il practicable. The
domestic commerce of the country would be car
led on with q coin currency, rather than the |
uctuatiDg standard of debased paper, il the pro-
ection of the law were thrown around this meth
ID Of doing business. II Eastern and Western |
merchants kept their accounts in coin, and goods
md produce were bought and sold for so mnch in
,old then specie would be brought into circua.
ion lepg before resumption takes place. Give
BUSINESS men the choice between a variable and
inform standard of value. and they will lose no
ime in adopting the latter. Congress should pass
bill legalizing coin contracts without any fur.
her delay.
WHAT TO STAMP.-An notes and evidences of
ebt five cents on each 500; If under 800, five
ents If over 800, five cents on additional sl00or
art thereof. All receipts for any amount without
init, over $40, two cents IL $40 or under, moth
ng All deeds and deeds Of trust, fifty cents on
sch $500 In value of the property conveyed of the
mount secured. When deed of trust is fully