New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-09-27
THe Currency.

Wandering around the monsy'regfons of
the city yesterday. the conversations tha:
! came TO the ear were exceedingly various.
| No one had much money, and e had any
! opinions. The situation was 80 novel. as
! one gentleman said. that it tooatwenty- four
hours to get used - it. Ever thing. how.
ever. was easier than /: lad seen the dav
before In the majority of transactions
certified checks were found u answer as
well as the money they represented.
To the question what do yoI think 2" a
orominen: broker instantly aiswe red, II
tlInk-d-n," and not another word could
be got from him. One gentleman had sub
sisted all the week on So, and WIS prospect.
ing fO- some one with wealth. H. had had
several thousand dollars in tin box"
which he took GU: and deposited IN bank
for better security. 1t is safe enough now.
One gentleman stood on the conner of Ora.
vier and Carondeiet streets offering a Ger.
titled check a: ten per cent discount. He
wanted currency very much.
The city IS treated hy the Luisan. Ma.
<i5na! Bank JUS: like any otne. depositor.
Holders of coupons vii! receive the :eiler's
certified check on his own bank, if they
wan: it. and tha: IS all they wi! get. Some
amusing incidents are told. one ge ntle.
man. who strongly advocated tie action of
the banks. drew his check for SIS 900 yes
yesterday. and grew violently iadiyn ant
when So was offered him. In his opinion
there was an error somewhere.
The general impression is thr today the
banks will pay nothing. Some broker ex.
press the opinion that this should have been
their determination three days ago.
But a good many people bn's like it.
One dealer who requires to becontinuailv |
passing the p;astres over his counter is out.
ragged because the banks won't give him the !
money to do it with. He wishes he lad nut |
his stamps in one OF the banks that did nc. |
come into the arran cement
The Louisiana branch OF the Freedmen.s |
Savings Bank stands on the sixty day
clause, and is solid. Since Saturday it has
paid over $4,000 to depositor who have
returned to their original faith the stock
ing under the pillow. 1t now protects itself
by requiring the legal notice. No anxiety
should be entertained by any d.positor.
There j. il the city perhaps $500 900 IL
currency. II the banks had ms taken the
course they have decided on this would
have been jarked out Of the dty between
daylight and dark. Their actin will bring
here fer our cotton. sugar and 10.
bacco.
Some authorities are apprehelsive. They
az we have no: seen the worstvet. There
will be greater strlngency. Money vii!
10: be forthcoming for labor. The mercan.
lIe community viii lose confluence in its
,wn members and refuse - take certified
'hechs in pavnon. OF notes These IDEAS |
nay have . .oun'ia ION SO far As the stu.-
ioE in New York and 81. LOU. is concern.
d. There IS no danger from either source
n New Orleans. Labor will be paid. =
mutual acconmoi alton hetweel merchants
viii prevent ::.e othe- difficulty.
Altogether the general f.e.i,g is tha. ;le
'ank. have done r.slr. tina: dealers can
ccoElMUtate themselves 4 c.i- I'M stances: |
ur ,iaa2c!a. condition Is yeas o.ahiv sound,
nG il a. .e!v da-s we vi. b.. relieved; h- |
n Increase .: Currency. l'o: example one
.oUse alone has made ,l.c'. arrangements !
hat On Monday i viii haze p; its Lisposa!
large amount. There ! a. scare All
r@ trying 70 .a." i .. .sr .:I ..'c re Wacdet |
I'll. success.