Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-12-20

+. Y. ARMS.
Monetary ana Commercial.
The banks of New York city, Albany, Boston and
New Haven resumed specie payments on Monday,
the l4lh inst The New York TIibEns of that date
says:
1.-The banks of our city and State have fully re-
sumeud specie payments. They have done this in
the face Of our still heavy Indebtedness to Europe,
aud Of prospect that specie viii continue for
time 10 be drawn from their vaults to discharge a
portion Of that Indebtedness. For though our i'm
ports are must for months continue 10 be light,
the amount Of grain and -four TO go forward is in.
considerable while cotton, tobacco, pork, and al
every thing else we have TO SELL are so depress
ed in price seriously to impede their movement
as well as diminish their productiveness. Farmers
naturally hold back, hoping for better prices; while
the charges for transportation which were tolerable
the prices Of last year, nearly eat up the proceeds
this year. We must continue TO export specie, there
fore and the strain Of such export is felt primarily
by the Banks of City. TheirresOlve, therefore,
70 take the lead early resumption, evinces
age and consciousness Of enduring strength.
Opinions are very much divided in regard to the
effect of his important MEASURE. Many Of our lead
ing merchants and bank managers regard it as pre-
mature while others look upon 1t with Indifference,
anticipating no essential changein the general course
of monetary affairs. In days experience no
satisfactory lest is afforded but there is something
IN the total lack Of Disturbance excitement which
20 the specie basis Il must be taken into considera
lions that since the suspension Of specie payments
our bank loans have undergone no expansion
standing in point Of fact, in the weekly returns,
nearly 3 900 OU0ess, in a comparison Of the figures
of Oct. Il, a few days.afLer the suspension, wi b
those Of Dec g. the date Of our last returns During
the same time the specie reserve has run up from
S7S4S 230 TO $50 OG9, S52 increase Of SIS, DBL,
CO., and the deposits from S52 I23 TO > 49,
Og5 gain OF So, $50, Az. Thus, while IN loans,
the position of Banks has not materially changed
their resources have been strengthened TO enOr-
nous amount within a very brief space Of time
The Louisville Courier of the 18th inst, says:
The hog packing season is progressing slowly, and
the mai keI is Of quiet character just now, though
hogs may be quoted from 5ia53c net, cash and time
The total number killed around the Falls, up TO this
evening is little 100 900 head, with but few left
over in pens. The season is very backward, and it
is some three weeks later than the last which closed
before the lst of January, with the slaughter Of
ZIG S38 hogs. Ii is Gnticipated,by many, that the
present season will fully equal the past in numbers
while il will exceedit IN weight AtCinclnnstl, the
market early in the week was bu0yaut, but II rapidly
declined The advices from New Orleans produced
8 dali aud heavy market both for the hogs and pro-
duet: and az the close there were several anxious
sellers but no buyers. The humber Of Hogs which
arrived from Ohio and Indiana during the week, is
quite small. In fact the Ohio, Indiana aud illinois
Hogs have not vet commenced TO arrive fully and il
Is clear now that large business will be done IN
January.
The receipts at Cincinnati vastly behind those
Oflast any previous year, but but TINS taken IN
the abstract, Is Usually backward, farmers being
anxious to feed ttcir hogs long as possible, and
ths is both logical and prudent because even 50 %
net for pork would ray better than to sell the corn at
7Oal5c per bushel in he field. The slaughter at that
1oips unto Yesterday had amounted TO 62 933 hogs,
against $50 2l3 the previous year at the same date
We learn that the corn crop has been very serl-
ously damaged throu ghou; the West in consequence
of early frosts and wet weather. Through large
portion Of Indiana, we learn that farmers are very
alarmed. The that has been put IN cribs Is
feati1g and purchasers refuse TO buy II for any
purpose except whore it be used Immediately
in feeding hogs. In many places It Is SAID TO be
difficult 70 find sound corn TO answer for seed. We
are aware Of the general tendency to exagerate re
ports Of this character, but satisfied that the
corn crop has suffered very serious injury IN Ohio
Indiana and South Illinois. The present CROP
however is far greater than that Of any previous
year, and the damages will have to be immense 10
bring il below the usual average
Nashville Market, Dec. 10.
CorToS-The market still continues depressed
under the unfavorable a5yces from Southern ports
and Europe. To-day sales we're made at 9lc, though
fraction higher might be obtained for a very suPe
rior article. We quote the market at 9@9!o, though
holders, unwilling, submit to the decline, resulting
in but few transactions
ToBAcCo.-We heard Of the sale yesterday, of
one hogshead Of crop the FIRST of the season Of
second quality, at the warehouse Of A. Hamilton.
The price obtained WAS S5O5. Loose is selling at
365s.
WBFsr-The market continues quite brisk, our
millers Iaying 7O@75o for Red, ana goo s5c for
White. These prices being considered fair by farm
ers. receipts during the past week, have been quite
liberal.
FLouR We hear Of change in prices, and
continue TO quote superine at S4@425, and extra
and family at 81 per barrel.
GRocERrs-The market presented more ami
mated appearance to-day than for some time. We
quote New Orleans. Sugar at az &c. in bbls. and
, bhds; Molasses aoG8 -, ami Coffee ll!@l2c. The
stock on the market is ample to meet the demand
PRovIs1oys-Dealers are offering &c gross and sc.
ne, for Hogs New Bacon is selling at &C., and Lard
at lOe.
New Orleans Market, Dec. ~.
SrG,R.-We remarked in our semi-wcckly re
mort tbat The weather for several days previous had
been Of the most unfavorable character possible for
the CROP being warm and wet, ccdsiug the cane to
sour and IL is now estimated that the damage te lhe
crop will be fully 5000 TO 100000 hAds The
money pressure however, prevents speculative
movement, and prices gaze way IN the early part Of
the week, though they hayerecovered slightly since.
We noticed sales of about $500 hhds. in the Grst
three days of the week. but on Wednesday, only a
limited business dome, ewing 10 the rain, which
fell heavily nearly the whole Qay. Since then, with
q return of fair weather. a renewal of demand and
less free receipts, the advantage in prices has been
on the side OF sellers, who have obtained slight
advance In the FaIr ANA Prime grades upon The
rates current in the early par. OF the week. The
sales of the past three usys sums mp about 5000
bbds: making a total for The week OF 55UU hLds.,
taken for the West, the North, the city trade AM
our gbbOring ports and now quote as follows.
Common Good Common. ..-.....3' a. A8
Fair to Fully Falr......... .............43t15 %
Prime TO Choice. ......n. 60. Of
Centrifugal and Ciairihed............agli7
NTo,.ssE..-Iu our emi-weckly report We noticed
Gales of some $500 barrels having been made in
r. sarIv mart OF the week, the market closing on
Tuesday al lSal9 cents e gallon IN barrels aud pa
. ms in half barrels. Since then, with rather les:
annie receipts ami the continuance Of very fair de
maad. the rates have improved shghuy, the rang,
for ihe pagt few days having been loalS2 cents L
gallon, in barrels according TO quaiy ~ cents De
ing the ruling rate Tor rouhu L'Is, auU -'2i2 0eH
In half barrels.
COFFEE -Thers has been again fair demand
in the Coffee market and prices have been general
Iv well sustained with sales for the three days o
about 5000 bags, (making lZ,5UO Tor the Weeh') a
an extreme range o. o@loc, though chiefly at :
(Gg3 = 10 for the far to prime qualities III
1urchases have all been, understand, for con
umption. No further eargoes have been received
and The stock remaining M Grst and second hand
is about 10000 bags against 10000 Al the CORES
ponding period last season.
Ear-schc Curcd.-This pain, nj al elton, to which
.orany persons, especially chdroa, suBec every IA
and winter readily eun0le b. the OF BRAoG's ARoT'
Is,tusrr lew drops upon piece Of cotton shoul
- las, the ear as warm b borne, and the
Dy s rts we'll bat ID with the Lnimeut, applied wit
spls friction with The hand. Thousands Of bay