Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-12-15


The sapply Of money ia New York s keeps up ahsod Of the
demand and is likely to do 50. The anppled al very
low rates. The quotations Loans c to cent. dis
count, prime indor paper, to cent ine single names
5 70 G q cent; over months e cent. higher
Tie Tesu ESchange market steady the lQh, with 1t
tie doing There fen sales Of sterling 1897, at which
southern bank bills Wero sitting few bankers sell 1922
and sone drawers ask le9s tkng however, lu9s at which
they generally firm. large business might be done
I09 the large exchange houses would accept In regard
the in the rates Of Exchanges the New York E
ing Post Of TIE oh sayss
The recent rise in Exchange Europe the subject OF re
mark. IN FAR It supposed that the supply Of southern
bills alone the cser movements Of cotton would be
keep London raeat under 100 per cent for
time TO come wlich unasr oftTy circumstances would seem
he the natural result The opinion Is quite prevalent that the
influences had their orr gin in the panic Of 57 Tie
advances merchundse which the Liverpool banks
eravang the force Of the panc and it was the explosion Of the
Borough Bank which prominent mover in these speculative
II persisted in calculated to Ting about similar disastrous
So constantly support command, to such an e
awaited Of, t aors charged With sustain
ing The Liverpool cotton 6ctUious prices and that the
law OF s and demand was rendered degree imperative
This position has beea strongly nantaned by The manufacturers
Of Manchester and the remoFa Of such inerpotons
Liverpool matter Of congatuation among
they caeula that they will be enabled to stock themselves
without being subject 20 sudden and fluctuations The
action which generally charcerzes the Manchester
settled feature Of the trade They claim that BY thus carefully
Observing the Of supply and demand and buying their
another VII he remOYed-the
stimulating prices By their competition.
The exporter SPECTATOR that the Liverpool banks have
determined TO abandon the injurious practice, must facilities
the South here The present OF the money
facilities, and may be said that the system
expelled Liverpool because Of ifs pencousness
hold The interest being relatively the
don than heretofore u he that the facilities asked viii
freely extended till money becomes tighteraud
Of interest relatively higher, and hoped that matters
will then assume natural and healthy action, being untranimel-
ed by interference made douby active by corporate combinations
Advances obtained here The cotton whether in store, in
Market fgtsN which creates less additional
cOnaoalon sorbs for time capital. The sales
cotton, therefore, do herto indicate the Of
change that follow TheeXcange Of ultimately
appear but the supply by these operations deferred hence
that leading anksr who doing little nothing this
son southern exchange, entertain the opinion that these changes
the methods Of placing cotton in Liverpool active agents
predicting the present scarcity Of bills and the consequent
Of rites specie point. When is noticed to what
scale the exports Of hes provisions and the various ar
Giles Of merchandise been uc the isinvesed with
fresh pOrance and the immediate bearing Of the cotton
the fireign exchanges made more evident.