Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-09-18
COMMERCIAL.
MONEY and Commercial Matters.

says:
We have been handed the Extra Of iSs CoUn-
terfeit Dsteefor issued at Louisville the DIN OF
Sept, in which a list of Banks spp,Ir, .-at have
failed and have been discredited, among the
rest the ShelbyVlle Bank Of Tennessee Is put down.
We have never heard that this Bank had failed, or
been discredited This is news to our citizens
and either White has been misinformed or he has
maliciously published false statement The officers
are high toned honorable men, and they inform us
that they can and are ready to redeem every dollar
of their circulation. 1t is but due to the Bank that
White should correct the statement made by him in
his Extra of Sept. 9th. The people need have no
fears. The Bank can redeem every dollar Of its
circulation.
This Bank has capital of STA, 0O0-the stock all
owned by our citizens. She has furnished since the
first of January last $600,000 Exchange, and paid
out Gold on her notes, since that time, $95,OOO
She has never done any but strict legitimate Bank
ing business, and has furnished to the people 9
currency eIual to Gold, paid out her own notes at
her counter, and never sent them of to exchange
with any other bank.
The Montgomery Messenger has been shown q
counterfeit purpOrting to be five dollar bill Of the
Bank of Georgetown, South Carolina. The counter
felt has figure of liberty on the righthand side,
which is not in the genuine the left hand side If
the counterfeit is an eagle-On the good bill female
u ASSSSSSN3
all good five dollar bills on the Bank Of Georgetown
have red check back. The color Of the printing
is rather pale, when compared with the genuine
The engraver's imprint on the good bill is "Raw-
don, Wright, Hatch and Edsan, New York" while
on the counterfeit it is" Tappan, Carter and Co., N
Y" This counterfeit is dangerous, as it is new
issue from the dens, and one which has not yet
been exposed by any of the published detectOrs
Inregard to money matter, in New York on the
18th inst, the Evening Post observes;
The pressure is stringent in commercial circles.
Houses whose affairs widely extended find the
utmost difficulty in meeting their engagements.
The banks are getting into easier position, and
begin to discount paper with more freedom. They
are well fortified against all contingencies.
The prices of the Stock Board show considerable
advance securities above the sales of the First
Board yesterday. But the prevailing feeling Of the
street is one of depression and uncertainty At the
close of the sales there was considerable weakness
manifested and nearly the whole advaece on some
stocks were lost.
The Cincinnati Enquirer, of the 18th, says;
The difficulties in the financial world are begin
ming to affect the interests Of the commercial and,
unless something "turns up to restore confidence,
we fear that our business men Will have q tght time
of it for the next few weeks.
Our Banks are pretty well supplied with currency
and gold and, bad they confidence, could readily
supply our legitimate business wants. but, IN the
present state Of doubt and uncertainty, they fear to
do anything.
Money, however, is not very scarce as many
would like to make out In support Of this, we
would point to the daily sums expended in market
for the Iuzuriss of fe which are sold at fabulous
prices. Peaches, for instance, at 5000 per bushel
may, and 1Oc Peach-whieh Grapes, Plums,
Apples Pears, &C., held at prices that In ordl-
nary times would make them forbidden FRUIT to
say nothing of Vegetables, Melons ana Meat, which
are he'd at the most exOrbitant rates.
Exchange is very scarce, and irregular IN price,
The principal bankers drawing in small sums
only at per cent.
The Enquirer reports the produce market as e1-
cessivey dull purchasers in view Of The uncertainty
of prices and the difficulty Ofraising funds, feeling
quite unwilling to buy. This seems to be the pre-
vailing feeling just now in all the leading markets
of the country New York Indepen lent says:
The Produce markets are rapidly falling from the
combined effects of tight money market, numer-
Gus failures among the dealers, great abundance of
supply and a present restricted export demand A
very low price is expected to be reached for this
fall and therefore it is better for the farming IN
terest TO accept present prices There are no specu-
latiye purchases making for holding on the aoun-
dance is too great for that. The ready acceptance
of present prices will Sc good deal Of money IN
circulation and contribute to the benefit Of general
trade which in the end will increase the demand
for Produce, as more is consumed when trade IS
active We advise therefore, holders to sell-to sell
at once Every day they hold on will render them
more reluctant to sell or to take still lower prices
Considering the tumut in financial circles, the
dry goods trade of New York is said to be large and
satisfactory and by no means falls behind that Of
last year. 1t is stated in the New York Courier
that there are large orders in that city from England
for breadsus at limited prices. These prices owing
to the stringency in money affairs, have, it adds,
been reached and even shade lower. The pros
pect isl that there will be a active export OF
-four andgran than was anticipated and thus furnish
substitute for the current shipments of gold 1t is
also stated in the Journal of Commerce, that the
gagements of grain for Great Britain have averaged
fifty thousand bushels day for several days. and if
the decline in prices does not prevent the produce
from coming forward from the interior, the Journal
looks for an active business in this line throughout
the fall months.
The following table exhibits the decline in the
prices of Flour in New York market within the last
two months