The New Orleans Democrat., 1876-05-22

| We eondense from, oU erchanges the follo~mg
interesting financial aud commercial
Items:
| important Information dGeciap erGg interest
connected UHh NE Money Wdiket.-United StStes
Treasurer New IN q statement 70 correEpon-
dent. says: The legal-tCnder notes surrendered
by banks for the REDEEM ptiou Of their notes arc
used rs cash the same US ether legal tender
notes nthc Treasury, ani arc not knrt distinct
az special fund or locked W in the vaults.
Upon the books Of the Treasury, however. they
appear as special fund and there is always
enough moneyon hand 70 redeem tho nutisnhI
bank notes when presented There are at*thc
present time about sf0ooo.000 ia legal-enders in
the Treasury s33,G ,G65 600 for the redemption of
certificates, s27,5s5.oo1 representing the sur
rendered circulation OF national banks. AMI
about 2lo0no.oo0 IN cash in tho bands
Of the sbursing officers. Tho amount or legal
tender notes surrendered by banks for the re-
demption of their notes does not appear upon
the monthly public debt statement, because the
amount Is held by assistant treasurerS and
depositaries all over tue eouney. Treasurer
New says there IL 2 wrong impression that
when banks surrender their circulation. legul
tender notes arc forwarded to Washington,
Under the law tho banks turn over the amount
.of their legal tender notes 70 the nearest sut-
treasury or depository and receive certificate
uf deposit. This fact alone is reported here.
and the legal tender notes are not forwarded.
but arc checked against from time to time by
tho treasury national bank notes are pre-
sented. or to meet other disbursements. Under
the existing law the Government gots the benefit
of the difference in the amour ot legal tender
deposited for the redemption of bank notes and
the actual amount of the latter surrendered
This loss Of bank notes will. it is believed be
very heavy. 4.
Drop Prospects in almost every section appear
to be looking as favorably as could bo possibly
wished. though throughout the Southwest there
Is more or less complaint Of lack Of rain. Corn
and cotton are both suffering from this cause
particularly in Texas Reports from the North
west are favorable, except from Northern Illinois
ana Iowa, where, 1t is said. but little small X ain
sight N u nj bp
lence Of unesasonaby cold weather il u draw
back; 40 far however. it has not been attended
promise of an unusually prolific harvest.
Late Hreudstnt toreign Adrices have been
quito generally favorable to sellers. reporting
cold and unpvopituous weather for the growing
crops. which show little headway in vegetation,
and, in consequence OF this, more confident
Europe. and on firmer basis as to prices which
conditions were even more clearly developed on
the Continent than in the United Kingdom. Ger
many. Belgium and Holland especially became
moro urgent purchasers Of supplies: and this
not only In the market of England. Of cargoes
oh the coast or at the port of call, but also in
Tea adrices from Ne,c York Of the latest dates
quote tho market depressed. especially for
Japan s, "%ing :? ~, the % Irregular an and often very
Oolong and green are more steady than japan.
but ruling also somewhat in favor of buyers.
States wsra 1 10 phn" 70 he aa5 h asn Mnrr e
IL soa5 1861 pounds black 16. .b31 5o4 pounds green
and 2b.t02.776 pounds Japan against II sos 7le
pounds black. os2.st7 pounds green. and 2o,,
.0sS pounds Japan during the same period
last season. Total 5s.4Gg. Cal pounds against b5.
Go,92e pounds last season-decrease loao.Gss
pounds.
hardi Store te'eora,ns from Liropoo. quote tur-
pentine spirits 2ss. dull. Hosin-C Common As yd.
steady; fine lis. steady. London rosin steady.
~ vi for common. Turpentin. spirits as 81.
dull, Wilmington -Rosin firm: strained o. s.
good strained 81 &c. Tar 1uiot: Wilmington
81 80; tnrpentine quiet: hard ~ 40. soft 81 lt
virgin - II: spirits steady nj 2siie