Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-12-15
COMMERCIAL.


Monetary and cpnmereiaI.
The detaiIs Of the BaEtics news tends to confirm
the impression that the recent crisis in monetary
affairs had passed its crisis in England, and that
things wore a more hopeful aspect
The best commentary, however, is theresumpton
Of specie payments by the New YORK banks. II phi
vate and more positveadvces had not beenreeeived,
it is certain that resumption would have been post
pOned to further period
Altogether, we think things look more hopeful,
though as yet we see but the faint dawning of e
brighter cay, and We may still look fOE occasional
clouds
The New Orleans Commercial Bulletin speaking
of the weekly report Of the banks says sit viii be
seen that the condition of the banks is rapidly i'm
proving and that they are as strong as could be
desired"
The Mobile papers state that the Savings Bank Of
that city had resumed
The monetary panic in Ireland had completely
subsidized
The London Tines city article, dated Tuesday
evening the 24th ult, says in regard 70 the state
of affairs on that day: ga steady flow Of bullion to
the bank, assists the tendency 10 restoration of
confidence and altogether better feeling prevails,
although some additional failures have OecasiOned
deep regret"
In the New York Stock Exchange, on the 9th inst,
the supply of money was abundant, and short loans
on security could be obtained readily at
6 to per cent At the Bank of England the appli-
cations continue TO gradually diminish and the
payments now falling due there, extremely large
the weekly returns are henceforth likely to show
q considerable improvement. In the discount mar
l1et also, there were some signs of relaxation.
The gold taken TO The bank within week amount
ed to s93O,OOO, exclusive of any sOvereigns that
may have been retained from Scotland or elsewhere
In Paris on ths24th ult, the funds closed at &C. 50
for money, and or. Tor accou Mt.
With reference to the market for American rail
way securities, Mr.. E. F. satterthwaite reports as
follows eThe market for American securities in
London has been moderately active during the past
week"
The Bank Of France was gaining specie.
We learn from the report of the Secretary of the
Treasury that the receipts for the fiscal year ending
June go 1857, including the balance on hand at the
commencement of the year, within fraction of
$50, 900, OOO-amOunted to Ss8, $50, sS9 u
And the expenditures to T0,SS2, 724 So
Leaving balance of S16,650l64 p
OF the expenditures last year S., 943, 1886 81 was
for the purchase of the public debt principal pre-
MUM and interest The receipts in the first quar-
ter Of the present fiscal year amounted to $40 $780,
Sl9 81, and the expenditures in the same time to
S23,714,528 81. The receipts for the remaining
shree-quarters are estimated at S36, $50 600, and
the expenditures for the same time at SOL 248 $50
O4. A balance in the Treasury July l, 1858, OF
$426,S75 81 is estimated. The balance in the
Treasury July l, 1856, was $40, 1901, 1925 As. The
balance July l, 1851, S17,710, ia q, and the
balance July l, 1853 estimated to be S426,S75 81.
The public debt on the LIST of July, 1857 was
$29, 06O, 385 80. Since that time there has been
paid the sum of 1886, 282 8O-leaving the public
debt at this time $25, 1885, l54 81. Since the 81 of
March last there has been paid of the public debt,
$4,S78,277 SO.
In abiding to the monetary crisis, the Secretary
remarks
Since the discovery of gold in California in 1S49,
there has been coined at the minis of the United
States the sum of S400, 000 900, and even larger
amount has been added from that to the gold
of the world At that time it was estimated that
there was in the United States 100000, 600 Ofspece.
Of this amount the banks held S43, 600, 900, upon
which they issued circulation Of STA 742, AIS.
Their deposits st that time amounted to S9l, 49,,
O23 tits estimated that there is now in the United
States $780, 900 of specie and of this snm the
banks have $50 600, coo, upon which they have is
sueda circulation Of S2l4 us, 822 and their deposits
have increased to S230,35l, 1862. 1t will be seen
from the statement that, with the increased quantity
of specie in the country, the banks have only in
Sed IN
900; whilst they have increased their circulation
from STA, I45, AIS to $2l4, ,S22.
The exports of specie from the port of New York,
from the LIST of January of the present year to the
9th instant, and for the same time during the five
years previous, present the following comparative
From January l. to Dec. 5, 8s 299, 1877
Same time 1856 35 1926 454
Same time $40 S77
Same time, lo54..... ,Oo2O
Same time, ,638 OO3
Same time, 49, SCI
The imports o1dry goods for the week, and from
he commencement of the year are shown by the
following figures: ...4 ~.. !
Time, For the week. For the year.
70 December 5, 1857 ,724, 2S2 S2IO, 928, $50
Do l856........3, 500, 791 2O3, 474,647 |
DO lS55........1, 79l ,039 143, 379, 982 |
The Auditor of the Bank Department of Indiana, |
reports that only one bank established under the |
rec banking law has suspended-tbe Tippecance |
Bank. There are ten banks now winding up and
,edeeming their circulation at par. The securities
pledged Tor the redemption of the bank notes in
,lade: State of Indiana, 81, 500; State of
Virginia, S19l, 200; State of Missouri, $4,000;
SlO1, 900; total, 81, 939, 529.
1t is stated that the salaries of the employees on
he Illinois Central railroad were reduced on the LIST
December, as follows On all salaries of $50 per
month or less, 10 per cent. salaries ranging be-
veen $50 and SIS, Is per cent, all salaries over