Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-12-13
REcAPITULATIoN.

81
Individual Deposits, 4,76O695 g, 4O5,876
The foregoing figures show the changes during
the quarter to have been:
Decrease in Discounts, S1,620 S2J
Decrease in Specie, 110,02l
Decrease in Exchange, 301, 407
Increase in Capital, 376,S4e
Decrease in Circulation, asa, 35t
Decrease in Individual Deposits, 1,354,82z
The Specie and Exchange held by each class Of
banks, compare with their circulation follows:
Specie and Ex Circulation.
Independent Banks, 5 209, AS 5 500, 495
Free Banks, 302, AT 670,234
State Bank of Ohio, 1,97S,O56- 6,4Ol, 22G
The amount of specie held by the Bank of Eng.
land, on the 18th ult., and by the New York Banks
on the 9Th inst, compare thus:
Bank of England $50 420 900
New York Banks 10000. 26O04, lob
The circulation, at the same periods, compare as
follows:
Bank of England. $110, 600
New York Bsnks...... 6,52O,IoO
The Hon. Nathan Appleton, of Boston, in his re
marks upon the currency question, says:
"a bankrupt law applicable to banks, would I'M
doubtedly be the most efficient of measures for pre-
venting suspensions of specie payments, ana keep
ing banks within reasonable limits. Such law, tO
90 into effect in twelve months, would be the most
efectual of measures for restoring and regulating
the currency-to apply to a continued supension Of
payment for thirty days. Constitutional objections
have been suggested, but without much apparent
force Apparently nothing in the power of Cen
gress would be so decidedly etfectual as the essb
lishment of such law" -g
The conclusions of Mr.. Appleton as to the basis
of circulation, are as follows: -. .
al The only proper basis of bank circulation is
large monied capital, exclusively appropriated to
the business of banking. 2. Public security re-
uuires that the issue of a bank should bear small
proportion 10 its capital g. Bank notes to constitute
a sound medium Of general circulation, must be pay
able the central points Of trade the large commercial
cities. 4. The profits derivable from the circulation
OF bank notes legitimate source of revenue to thu
STATE. And 5. State tax upon capital employed in
the ordinary business of banking, is both unjust
and impOlinc, good policy requiring that capital
should be allowed to flow into that channel with per-
feet freedom"
Manufactures at the Eastward are said to be
steadily, one after another, resuming operations,
despite the hardness of the times. Manufacturers
urge that "there never was period in which the
prospect for the successful establishment of home
industry was so great as at present, inasmuch as
British competition is in great measure, prostra-
ted by over-trading during the last few years"
Several meetings have been lately held by the
planters of Washington county, Ga, to consider
and discuss the project of shipping cotton direct to
Liverpool Atthe last meeting it was proposed that
g practical experiment should be made by number
of the planters ten or twenty who would unite to-
gsther and send by the Goth ins from ten to fifteen
bales of cotton each, to Savannah to be shipped to
be shipped by a common factor (Messrs. Evans, Har-
ris Co., direct to Liverpool, account of the
planters The proposition being favOrably received
l02 bales of cotton were Immediately subscribed.
At q recent convention of the Virginia and North
Carolina tobacco manufacturers, held at Richmond,
it was resolved that agents for the sale of nanufac
tured tobacco SHALL after the the first of July next
limit their credits to four months; shall make 10
allowance from the actual weights OF tobacco shall
state the names of purchasers, and agents shall
not deal in manufactured tobacco on their own
account, have any Intervention with brokers. 1t
was also resolved to petition Congress to make it
felony for the manufacturers and dealers of tobacco
In any one State to the name of any other man
ufacturer, or the name Of any other State, or any
other town or district in another State in branding
their tobacco.
The prices of negroes still continue high, not
Withstsnding the "hard times" At recent sale
in York District, S. c., field hands brought from
$1,000 to $500, and boys and girls, under ten
years. brought from $500 to $780, At sale at
WarrentOn, Ca, young and likely negro men brought
from $1,000 to $500. A young woman about eigh-
teen years of age brought $500.
The Mark Lane Express of the 10th ult., reports
that the pOtatOe disease in the United Kingdom il
proving more disastrous than in the memorable
season of lS47. The accounts from Ireland are
less discouraging, but the condition of the crop in
Great Britain, as represented by the Express can,
not fail to operate with great effect upon the bread
stuff MARKET as soon as trade, which has been de-
ranged by the money panic, becomes settled