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# New Orleans Daily Crescent. FINANCIAL AND COMMERCIAL DEPARTMENT. # New Orleans Money Market. CRESCENT OFFICE. No. 70 Camp street, Friday Evening, Dec. 14, 1860. There was a better feeling to-day in financial cir- cles; it may take the back track to-morrow, but there were glimpses of sunshine, not influenced by the mass of trash which is forwarded hourly from Washington City and New York; that they are tremendously alarmed in New York is more than apparent. It is of no use for the cohorts of Black Republicanism in New York to be whistling away through paragraphs over the telegraphic wires as emanating from authentic sources, of this and that change, or of this and that financial movement. This community is becoming disgusted with the daily pretended quotations of markets and political movements, which are intended to operate on our general money market. Let all these reports and dispatches pass for what they are worth; that would be at about 90 ct. discount. Though there is an occasional sale of paper, we can readily say there is no paper market. We learn of some mortgage paper being placed at the rate of 15 ct. As for large sales or negotiations, we do not learn of them, neither in business nor com- mercial securities. We are now only going through a political crisis. A crisis would have come, but it would have been nothing more than a special one. The present re- vulsion or pressure affects the great grain and Northern producing States, agricultural interests, the same as it does in some of the cotton growing regions; in fact, the crisis is much more severe throughout the entire belt of Northern States from the Aristook in the East to the Rocky Mountains on the West. It is manifest there is an abundance of resources in our midst, and if they could be brought into use, an early relief or let-up in our money market would follow. The general Exchange market moved along under an improved feeling, particularly in regard to sterling. There were several transactions in clear sterling, at 981@994 and 991 up to 100-these were remittance movements. The banks were very chary of taking largely; in fact, there are only four banks that pretend to deal in foreign ex- change. Dealers buying rates ruled from 95@96 and 97. There were sales of document bills at a great advance, say 2000 bales at 961@964, and other transactions at a lower rate, say 93@94. In francs there was one transaction at 5.75, but we see no reason to change quotations, which rule from 6.00@5.90 up to 5.75. In Northern sight there were several transactions at from @1 and 14 dis- count, with an occasional sale at 14 discount; three days sight 1 discount; ten days sight 1802 ct. discount; sixty days sight, Al, 34@4 discount- market very well supplied through the day, with buyers taking with more freedom. The banks which are buying at 1@1] discount will find it ad- vantageous to order their balances back in gold; and, of course, may expect further receipts in gold if no change takes place. The general exchange market is subject at this time to so many changes and great vacillation that it is unsafe to predict the course twenty-four hours ahead. There are no sales of stocks and bonds. Neither bank shares, railroad stocks or miscellaneous stocks command any notice at rates approximating sales made previous to the Presidental election. The movements in uncurrent money are on the nix order. Some few notes of the banks of Ken- tucky are offering daily, and taken freely by our brokers. The banks of St. Louis, with an excep- tion, having voluntarily suspended, there does not appear to be much desire to invest in their notes. A bank never ought to suspend voluntarily; it ought to pay out to the last dollar, and when it does go down, let it go with colors flying, as did the old Louisiana Bank in this city in the year 1819. This burrowing, as it were, under the term of expe- diency and inexpediency, does not look favorable. The State of Missouri, with its banks, is not ex- pected to join in the Southern confederacy. Like the banks in Memphis, it is supposed that managers knew they would be obliged to stop, and concluded to do so at once, take time by the forelock. The banks of South Carolina and Georgia are differ- ently situated; political elements control the move- ments of these two States; they secede and go with the new confederacy. It is a fine thing, this sus- pension, and will redound greatly to the brokers and private bankers of St. Louis and Memphis, Louisville and Cincinnati. The currency trade will be profitable in some places. In Louisville the banks adhering to coin payments, brokers and so called bankers will be deprived of taking advan- tage of the times. It is plainly exemplified that the great Northwest is in a state of suspension-the large and exuber- ant yield of grain the past season does not appear to have relieved the agricultural community. Farmers are just as much in want of money as ever. The banks of the two States of Illinois and Missouri have in circulation about $17,000,000 of paper-sufficient to curse any inland community. The banks of Louisiana have in circulation about six and three quarter millions. From all advices before us we can readily come to the conclusion that Indiana, Illinois, Missouri, Wisconsin and Iowa are in a state of apparant bankruptcy; that the great commercial metropolis, New York, cannot save them; that the fulcrum, exchange, is feeling the effects of the "irrepressible conflict" in good earnest. The following extracts from prominent papers in Illinois will show the great destitution of real money in the great Northwest: The Chicago Times, under date of Thursday evening, says: This has been the tightest day yet in regard to Eastern exchange. The rates of the banks were 8 @9ct., but some of them positively refused to sell at any price. The unfavorable reports from New York this morning gave our bankers the blues, and many of them were at a loss as to what course to pursue. We yesterday stated that some of our heaviest merchants were buying flour and other produce to ship East in order to make exchange, and to-day we hear that a number of large pur- chases of produce of different kinds have been made for this purpose. Some of those who are buying say that in case their shipments will not sell for sufficient to save the exchange they will order it to store until prices improve; their first object being to convince Eastern creditors that they are not without the means to pay their debts, provided they can convert Western currency into something that will be taken in the East. CIRCULAR TO THE ILLINOIS BANKS. The follow- ing important circular has been prepared in Chi- cago: To Proprietors of Banks of Circulation in the State of Illinois: In the present unsettled state of the exchange market, we consider it an imperative duty on the banks of this State to do all in their power to facil- itate the exchange between the East and West. The supply of currency is so much greater than required by the wants of trade, and the safety of the whole banking system of our State requires that prompt measures should be taken towards the curtailment of the circulation of the banks. We, therefore, propose that each and every one of the banks of issue in this State retire as fast as presented at least one-tenth of its whole circula- tion, making its redemption through some responsi- ble agent in this city or in Springfield, in satisfac- tory sight exchange on New York, for which we will allow (for the next ten days) 5 ct. premium, thus redeeming the loss which may arise from the sale of bonds at present prices. We trust that you will give your hearty concur- rence to our proposition, and will at once take pro- per steps to carry the plan into effect, and relieve us from the necessity of sending home your bills for redemption. The banking houses in this city have large amounts of your circulation on hand, and they ex-