Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1857-10-26
MlOmrtarr an0 finanriaI.

In nSaetsry matters there Is after staEnaron. Ez-
change on New York stands neuinary At $ per cent cut
nsfhius is doing f. ii.
ne foBoEias ~s take from max. o. crsseezs Of
+. the 2ist:
"M5ney can scarcely be had at any rate. only oors-
sousi limited sales OF paper bring made al ao9ut b9sq
esntF month. 10 stOckE there Is nothiag doins, unless
q B. nrirzte ,. Ard no q1oatil as can b. given 5 nee
IN the Bill market. The banks have bcen the principal
takers q foreieH biia, say On London. giving IN payment
Fsoiors and cher Liabilities some few sales Of bis on
LS1don have osn made faretsh, The pat eu.ars Of which
We have ben unable 70 lara. he best bills are, how
ever, - Fred al , per cent dsciuut tor cash without md
ING purchaser 10 fa] fcreign bius are very nearly
ursslezbe a. any named hgre. 61me bills on France,
nrst class, were sold YESTERDAY s. from IS s2a@6 90,
but this nay oe considered an exception, and whether for
cash Or not We coul4 not learn. Tae mArkst closed IN a
most unsettled state. Time crafts on the Eorth are al
together nnssiesb,e- Sight Funds. cut q door bills, are
Bank cheeks n par. whilst tAe Bank 81 louisiana asks
~ , CT pm both payable IN New Tork currency.
The Peansvluenioa o. Tuesday last says that IN Phil
sdsiphia The more checrfsl and vigorous temper bereio-
fore witnessed IN financial circles eoutinuss. and business
men are confidently antiipHting a steady progress to-
wares a restoration OF confidence and credit. That pro-
CESS, however. must necessarily Be slow. The unlver-
sally ADMITTED first duty Of restored business viii B. a
general re-modenug reoonstTuetion of Cur banning sys-
TENS, and in fhis ths bnsiness interests % The counuui-
~ are prepared BY roeant events for . considerable for
ward movement.
The \. 7. Day Book Of the 2oh ssys:
The rates for fore'ga money are very fuciuafing. 4
Whilst tho Bills % The banks % this State and one or Two
in Nv Jersey are taken st par. those o. Rhoee Ia-nls
no farther aw ; than Albany and equally viii securd, I
he brokers charge i've PER cent di1eoest on osner cas-
tern goes ais Pfroent % Goes uestrrndefsy Fenrsyi-
vsuia and Ohis are frou s tos DelsvArei Maryland,
Virginia, Norih aud south Carolina snd Georgia from S
10 TO- Tennessee ard Alabama from y 70 IS; New Or
leans 10 The banks SOD themselves IN a decidedly tight
place since the ~suspsnsion rhsy eaanstc collect By Law a
cent from tseir debtors, whilst her creditors can push
ikeu - the val any day after next Friday Suspen-
zion " reiievfd" them FOR Just two weeks, 10 more"
The Custom-House returns o. New York for the past
ten mssths, the importAuous Of forriga merchandise
during that time amounted to sie3. So cas-. benE sI4.-
as SIS more than durlns The sane time in 1856. A SINH
lar statement OF domestic exports shows total exports-
ton s57 SIS. So, decrease s5,ssO SOS Direct export Of
specie sss.67.o COS increase o. 232, ss5. :
The ChioaEo Hzes OF the 2lst ssys: T.
There il quite q demand fer money. and thert Is .one
money thst can be obtaiued a. loans for a short tine On
Wen-sscuTed pap-r. But capitalists are extremely care I
fl % whom hey lend Eastern ExchanEe h dincuit 70
b. hal, but may Be quoted At S per cent? "a
The following remarks we copy from the Baltimore Suz' c
washington correspondence q
1T Is evidsncs Of an Improved STATE Of bank currency =
foreign exchange has risen. that New Tork bank ,
rates are only a half to three fourths Der crut below par /.
md an the New England bank R0tes, ercept those Of :
Rhods Island, are received at a very triaing disco1n. IN .
YORK. ne crdit OF New Tork and New England :
Hotes Is restored and equaiz.d and actually an. /,
1vers better the purpose o. currency than they did BE- II
IAa u NA-AA ~ NNNHHANN &AANN Al q oNELL ~
Lso. aud IN the country generally the bank paper circu- :
afipe g. unimpaired IN credit. Bat there is Danger that q
b. banks viii not be IN q hurry 70 resume the dfnculi :,
ask o. specie Payments and vet II they do rot dOit their In
mast, ere Ions experience great depr citation. =
The Cineinnai Enquirer Of Friday says; u
The disc5unt-houses state they are anxious 10 take y
Cd paper At their usual rates, but that they cannot OBJ /.
ain lt. The money operators Of Third = rect are overrun 2
dth currency, and would like TO md some prcf able me .
boo a investing d; but they cannot DO so. The fact q :
be case q =r Monetary market a. this time would seem =
b be a strong srgumznt against banks; FOR hers Il Is well "a
nowu we are and have been many months without any 81
sinking oapitzl-0f which bitter complaint has been
In the newspapers aud BY orr otiz- ns-while other
rominent cities, with arge BANKING facilities, feel the
-essure very keenly. Here all bus ness is Kept ciose. A,
eoessarly-no opportunity bsiDg furnished for es pan =,
10 -and. consequently. when 3 panic o. a era. b com@
1r merchsnts and manufactures having heir Affairs IA
instead o. spread all over have but 70 reef a few q,
us, when they g safely before the Eind. This certain -
appears an argument, as We have said, against the
'tsblishment Of banks and banking capital. without
hich even as q large . CITY as ours can, IN ordinary -
mes, notexist, but grow and prosper; and 1t the most
gem D ri0d preserve itself from Eneral Suspension "a
n bankruptcy EEchsnze on New York continued very 10
yesterday at 3 prem and SO d in fair demand at =,
a. prem, selling prics Exchanges very scarce-the ~
supply from the neighboring banks being neAry 7
Il a a. present. mi
TIE banking bouss Of J h. Lucas & Co, st. Louis
opposes It viii be seen, 10 pay on All creditors having pa
sims under 500, in 'currsncy," a. the usual discount ]
on such paper IN,
In Phlad spbia, an cn5rt is makiug to induce the CITY
ua1il 70 issue small lotes OF the denomination OF one. O'
10 and hires col'ans Il IS not likely to saoceed- q