The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1869-01-28
Ghs gem Orleans Grsstent.
THURSDAY MORNING. JANUARY IS. 1859.
gem Orleans yRunep Sf;arkft.
CRESCENT orrrcs, No. - CANT sfxxxl, I
Wednesday Evening, Jan. ~, 1868. J

CKx.cxsr orrcs, No "a oAsr srxxxs,(
Wednesday Evening Jan. ~. 1863.
There is nothing in the movement of the money
market today that calls for special notice. Gold
opened at New York this moraing at 1864 against
1861 1.-The closing rate yesterday. At 1910 A. NJ.
il vas quoted at 1861 at IL NJ. it rulsd at 1855.
and at P. NJ i closed at the latter figure. The
supply Of and demand for gold in this market con.
tinue light, however. and the total purchases du-
ring the day comprised only the following amounts,
viz $1,000 at 1869. $4,000 at 1365Gl37. $1,000,
$500 and $4,000 1877, $4,000 and $4,000 1875.
In silver we note the sale of $1,000 American half
dollars at lS2, and we now quote gold at 1870
1871, American silver halves l3l 2Gl324, and Next
can dollars at l373@l38.
FOREIGN EXcHANGE-The tendency of the move
meDt in Sterling and Francs Is still upward. Of
ferings of commercial bills disclose no Increase
whatever, and the remittance demand is steady,
with some indications of q further improvement.
The total operations for the day will be found in
appended statement, viz: $4,000 Al Sterling at
l4S2 and f3000 at 100 for gold. Very little doing
in Francs, We quote bank Sterling at 1910
I4sa, commercial do. at las @i4s3; bank Francs
at 3.77393.76@f., commercial do. at 3.Sl4CG3.SOf.
DOMESTIC ExCHANGE-Uninterrup uniformity
is the most noticeable feature Of the Domestic
Exchange market. Offerings of commercial sight
and short sight, though fair, are by no means
heavy or excessive, while the inquiry on the part
of remitters is still steady and in favor Of draw
ers. The principal purchases on behalf OF banks
and bankers to-day are enumerated in the sub
I s Is $685. $780,
$40 900, $50 900 and $40 900 do at 500 do.
at ! $4,000 thirty days sight on New York at II;
s3s 900 sixty days do. do. at q $4,000 sight on
Boston at $500 sight on Providence at 7-l6 !:
$4,000 fifteen days sight on Philadelphia at and
s47OO thirty days date on Augusta, Ca, at II We
quote bank sight on New York at /, commercial
do. at 5@3 discount.
UNCURRENT NOTES AND SECURITIEs.-Transac-
tons in City Notes have disclosed no marked al
x.rs.o loo Tan Oar Honta hau
been fully maintained, and the demand for all of
the better classes of Stocks and Bonds has ex.
hibited but little if any relaxation. Sales con-
tinue limited, however. as offerings of fsvorte
descriptions are still light, and asking prices con-
tinue somewhat above the views OF buyers. The
following embrace all of the principal sales eff.
fected to-day. viz: $4,000 and $4,000 City Treasury
Notes at 28 discount; $1,000, $25 900 and $4,000
do. at 273; $1,000 and 900 at 273 $1,000 at
IA; SOS 900 at 270274 $4,000 at 81; $1,000
$40 900 do. at s6s $4,000 do. at s6@8St: 1.-THE
latter figures being for small warrants,) $1,000
Metropolitan Police Warrants at IS; $4,000 do.
on private terms 5000 new Consolidated City
Bonds at II. 935 shares Opeou sas Railroad
Stock, in several lots, at So b share, and 200 do.
at So rs q share.
BOARD OF BRoKERs-The following comprise
the sales at the Board tonight, viz $4,000 Gold
at 1875 $4,000 City Treasury Notes at q; $1,000 one
year City 10 per cent at 95; $4,000 State War.
rants at SOY lUU Slaree bLale DdUk OF LOuSla0d al
$40 per share; leo shares Opelousss Railroad al
SO rs per 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:
1864. 1920 A. M.-Gold 1864. Cotton market
quiet but firm middling 2S3c., Mobile 2slc., Or
leans zoe. Sterling l09i@ll02. IL M.-Gold 1860
| Cotton-demand fair, prices advanced; middline
2s2c., Mobile &c.,, Orleans 94c. Sterling steady
P. M.-Gold closed at 1863. Cotton market less
active; prices maintained; sales to-day 47OC
bales middling 2S3@29c., Mobile 299294c., Or
leans 294@293c. Sterling steady.
Liverpool, Jan. 27-ll:l5 A. Motion marke
6rmer estimated sales 0,00O bales; uplands II
@llsd., Orleans lla@ll2d. 1:20 P. M.-Cottor
market frmer; estimated sales $4,000 bales; up
lands aloat IL ID; other quotations unchanged
M-Cotton market firm; sales to-day Il, 00(
bales prices unchanged.
London, Jan. T-ll:l5 A. M.-Consols 934
5.20s, 75a.
CURRENCY DEsTRoYED.-The entire number O.
notes. fractional currency-old and new issues
postal currency, United States notes and coupons
examined, counted and destroyed during the yea
ending with June last Is la, 900, representing
sl47, 900, 900. Let it be borne in mind that thi
large amount is actually withdrawn from circula
| ton and not replaced by any other circulation
| 1t is an abatement by that amount Of the only
medium of exchange which the people have
L
those who are now advocating theoretc return
| to specie payments. At the time of the close o.
| the war; three and half years ago, there was il
circulation in the twenty-five States heretofore
adhering to the Union, fifty -four dollars for eacf
| person in those States. OF course money wa
| comparatively plenty. Aside from the army
| which was not only q non.producer, but de
| stroyer, the country did not need as much money
| to transact its legitimate business as now. Com
merce was PROSTATE and the importation of good
1 ir,pa the QdharinO StQfa
| had ffty-four dollars per each man, woman and
| child, with which to transact business. Now
with peace everywhere, with large demand TO
| funds at the South with which to rebuild thei
and fifty cents per capita. This may go far Il
| account for the present stringency" In none.
| matters.--[N. Y. Commercial Bulletin.
HIGH PRICES ARE ALL RIGHT.-Thompson'
! Bank Note Reporter furnishes the following:
[ dolariis worth what it costs to produce it. Thi
is as true in relation TO the precious metals, as
| is to say that yard OF cloth is worth what
costs 10 produce 1t. We have then only to sho'
that by the newly discovered gold and silve
regions, and the new methods OF working tn
| Mines that dollar is not worth anything like II
former value. Occasionally miner, by goo
| luck, may get a great many dollars from YER
| little labor. This streak of luck Is offset by tn
| much labor that is expended in mining withou
| any good results. The aggregate of thousands Q
| miners for long series Of years is the real test
| producing two hundred and fifty millions per az
| mum now, against thirty.three millions per annur
prior to ls4s is suficientproof that its costs grea
deal less to produce dollar than formerly. In thi
| fact is to be found the largest part of the revo
luton in prices. dollar, as compared with wha
1t was only twenty years ago, has lost the larges
half Of its value. 1t is quite difficult for old pee
| pie, whose habits were set and whose reasoning
| were matured previous to lS4S, now to adJus
their intellects TO the changes of the last twent
years. They can't conceive how property an
merchandise can be so high, and year after yea
they croak and prophecy return to the norma
condition of things, as they call it, feeling sur
that the change is all speculation, never realiziD
that the great product of the precious metal
logically requires a corresponding change in val
uing labor and property and all products Of labor
Nevertheless there will be time, when we carr
estly set about resuming specie payments, an
when the paper currency is contracted. and Will
yet specie is not currency, that prices will fall
point apparently normal; but when the speci
is again currency, and out of the category OF me-
chsndise, we believe the then normal condition {
prices even on a specie basis, will be about thre
times what they were twenty-five years ago."