Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-12-22
COMMERCIAL.
monstary ana Oommsrolal.

The resumption Of specie payment BY the Ne
York banks will be generally followed by the T.
sumption in all the cities on the sea board and na
ly by the banks of the interior. The Boston bank
; were to resume on the same day, were those {
, Albany The Philadelphia banks are not in a con
dition to resume, they obliged by law to re
, sumo before the first of April next TIE New Or
leans banks and some other Southern banks are nov
paying specie, and all of them viii soon be able L
do it.
1t appears that the banks aware that they MAJ
expect from the legislatures Of their respeetiv,
States very little indulgence in protracted suspen
sion Besides, the recommendation, by the Presi
dent, of compulsory bankrupt act, in application
to banks, serves to quicken resumption. Some Of
the weaker and less sound of the banks will be OBJ
ligsd to wind up, even without compulsory law.
Il is only two months since the New York banks
suspended; and the severe trial through which all
the banks in the country have passed, and their
early resumption, afford grat6ing evidence Of
! their general soundness.
| The New York EOening Post, in its money article
of Tuesday afternoon, the 18th inst, speaks of the
condition of the banks of that city as follows:
The Bank Statement given below is, in all its
points, very satisfactory one. The line of dis
counts has slightly increased while the specie ave-
rage is reduced only 900 in the face of the
large exports 10 Eur pc. This conclusively proves
thaUahe receipts from the interior were very con-
siderable and sufficient to ofsetsthe outward drain
The debt-paying power Of the interior is strkngly
manifested in the movement, and We learn that the
influx is continuing with but slight abatement. The
unusually heavy remittance by the Star OF the West
add largely 20 the specie strength, and the banks
to-day, doubt, hold at least twenty eight millions.
The comparison with last week, is as follows.
Dec. 5. Dec. u.
Loans. $685. 637 $96 536 067 Inc. S192 $50
Specie...... 26,O69, 1872 &c, O58,8 77 Dec 1856
Circulation, 6,555, 900 6,348, 494 Dec. 206, 5O6
Deposits. 78,49l, O65 1856 lS4 Dec.8, 126 932
Un Deposits, Ga 445,UOO g., $685. 900 Dec. 900
The returns of our banks to their former specie
paying position, naturally directs attention TO their
condition the time of their suspension the l4th
of October. We give comparison with the state
ment of October 18th:
October 18th. December 18th
Loans............-S97,2 45, 826 see, SIS, 037
Specie............. 7,o43,23O 26,65o,oI
Clrculation...... 8,087, AL 6,348, 494
Actual deposits. ~, 696,Ol2 g., 900
This presents several interesting features The |
specie reserve touched very low point, and we |
now have the other extreme, being accumulation,
in the short space of sixty days, of $l8,2l5,647.
The powerfully attracted power of this centre is |
drawn down TO fOrty-tWo millions; one month after
wards they showed an increase of nearly twenty |
millions and have since further augmented footing
up siXty-three millions, a rise of twentyOne mil
lions. The circulation it will be noticed, has de-
creased Sl,738,947 The line of loans gradually
went down. and touched $94 963, 1870 on the 28th OF
November, but has since enlarged, and now stands
emily S7l9.7S9 less than at the time Of the panic.
The banks are in a far different position: then
they were pressed with heavy discount demands;
new scarcity of paper exists, and few new obligs-
lions are entered into.
We can scarcely find any one to-day who admi
that he had any fears of the prOpriey of resuming
specie payments. Those who were most timid are
now glad the stand is taken.
THE Pork TRADE-PRIcEs OF HoGs.-The market,
as we have stated is both dull and deClining-priCes
at this point till yesterday being higher than any
where else in the West. Tn marker has now come
to level wi other places, and We hear of sales
Of 1885 hogs, in various lots at cents net, part
cash aad part on time. The most of the sales |
we're made for cash for hogs weighing 200 pounds
and upwards The market Tor pork yesterday was
dull and IA SO was the outside rate for mess. At
Cincinnati and New Orleans, yesterday, the markets
we're very dull for pork. The packing around the
falls is progressing slowly, with the slaughter, up 10
last evening of about IL, 900 hogs. Atkinson,
Thomas & Co., and Jarvis Co., have each killed
over q, 900 hogs, and at the mammoth establish
lishment of Hull, Hunt & Co., 5000 hogs were
slaughtered yesterday.
TIE prevailing prices at the leading points, at the
last dates we're as follows: Cincinnati, S5a5 %
net: Madison Ind S5a5 % net: Louisville S5a5 %;
ST. Loui-, 81 25a4 IS; Hannibal, Mo-, So 50a3 IS;
Geokuk, So 5Oa4; Quincy So 50a4; Peoria, So 5Oa4;
Naples, HI, So 5Oa4 Springfield, Ill, 50 5Oa4; Terra
Haue S4a4 %; Chicago, 81 25a4 70; ShawneetOwn,
S4a4 %; Evansville 81 25a4 90; indianapolis,
"a 5Oa4 49, at Lafayette, S4 rs; Alton, Ill, S4a4 50,
lad at Delphi, Ind, "a So
In Green and Owea countless Ind, the hog chol-
IRA has prevailed to an alarming extent, farmer
IA ling lost 400 head.-Lou,svllie Courier, l9h.