Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1853-11-22

MONEY MATTERs.-The New York Times of
Tuesday says:
There was more money offering on loan at call
than the leading stock borrowers found use for the
rate in this way is per cent The bill-houses
continue to pass paper at II per cent though some
choice signatures now held for 10 per cent
Very little done to-day in foreign exchange. Prime
sterling l09al094. The banks are not generally
inclined to extend their discounts, but their weekly
statement, reported to Saturday, shows a very
steady movement i'll both loans and depostes and
a gratifying increase of over 81, 100000 in specie
The total Of the latter, Sl2 822 000 is the largest
sum reported in bank at any one period since the
discovery of California.
The New York Mirror Of Tuesday evening has
the following:
The elongated visages that have been constantly
met in the streets for the past two months, when
their owners were bound on shining" explora
tons, may now be seen wreathed with smiles as
the manifest relief in the money market lessons
their labors and anXietieS. The banks give them
discounts, and they are restored to their wonted
serenity Money relieves troubled souls much as it
does empty pockets, and we shall soon see every
body become better natured, as their purses grow
more plethora
The relief of the money market is quite mani
fest to-day There is more inquiry for first class
paper at y per cent, and some prime signatures
have been passed even lower. The wants Of the
merchants are not 50 great as they were nearly all
their payments to banks having been made. On
call the rate is per cent with good supply. The
railroad borrowers are now the greatest sufferers,
and will be probably for some time.
The Cincinnati Gazette of Friday says:
Money continues to improve gradually, and rates
to-day were easier for first class paper, with fall
ing fin the outdoor offerings. Eastern exchange
is firm with an upward tendency, and some of the
bankers advanced rates ]. We quote 4a4 buying,
and aa4 premium selling.
The arrangement for the redemption of the notes
of the Tennessee Banks was abruptly terminated
to-day, and the paper is no longer Bankable. The
brokers purchasing it at per cent discount.
We do not see how the parties who have paid out
this money recently can now refuse to take it as
other currency. This movement does not result
from any doubt as 10 the sound condition of the
Banks for they are admitted by all TO be among
the best institutions in the country but some mis-
understanding arose as to the arrangements that
had been effected, under which the paper had been
taken the notes Of other Banks.
If the Tennessee banks We're really DESTROYS to
have their paper placed here upon par basis their
action, which was announced to-day, was most
injudcious. The barrier erected by this step must
be ten times more difficult of removal than that
which has heretofore kept the paper below the
notes of the banks of other Western State
The public unquestionably have been unfairly dealt
with in this matter. They had assurances that the
arrangement was not temporary one, and for the
banks, and those who paid out the paper, some-
thing should be done to prevent parties who re-
ceived the currency in good faith from being
shaved to the amount of one per cent.
We understand that New York agent of an
English capitalist has submitted proposition to
the Little Miami Railway Company, for their bonds,
amounting to S500,0O0 advertised in New York
b1t
ing to the unlavorable condition of the money
market. The proposition, we learn, is that, if the
company will make the interest per cent instead
of he will take the whole amount at par This
is regarded as most favorable Indication of return
ing ease in money circles.