Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-04-09

Monetary. and Commercial. TCsI
The stock markets OF the North have been marked
for two OF three weeks past with considerable dull
ness, and have to eonsids able extent been aban-
dOned to brokers alone outsiders who have dabbled
in stocks having retired after some pretty severe
losses. The plethora Of money, which is now in
more abundant suppl in ali the Atlantic cities than
ever before has utterly failed to stimulate speoula
tiOn, nor is there any reason to suppose that the
accommodations o. the present spring are to have any
more effect than those of the past few months
There is nothing in the condition Of merchants or
Of trade to induce them to try the hazards of the
Stock Exchange. Money is easy, but tits only 50
to solvent people, aud they are, as rule, too pru
dent to be tempted out of their Legitimate business
The great cause of the heaviness lies in the known
want of value in the chief part Of the railway shares
sold and the limited prospect Of dividends in the
futHre.
The Louisville Journal notices the appearance in
that city of a counterfeit bill on the Bank Of Ash
land, of the denomination Of $50 A judge Of mon
ey can easily detect It, but by others it viii be read
lily taken. The following is description of the
bill:
Letter A, dated January q, 1857, payable at
Shelbyville, with the signatures Of Hugh Means,
President and W. Martin, Cashier engraved,
but we'll done. The likeness Of Clay on the right
baud and the railroad in motion in the center,
are not we'll done. Its whole appearance is too
dark, and it is wider than the genuine. a
The St Louis Republican of the 9th Says
There was a more active inquiry for money last
week than at any time previous since The opening
Of the year, owing chiefly TO the heavy payments
which fell due on Saturday. These payments were
met however very satisfactorily, the proportion Of
paper lying over at our Banks beng quite iuconsd-
cradle This remark applies, we understand, as
well to paper left for collections to notes discount
ed. The fact gives indications Of willingness and
ability to meet engagements that are very crafty
| ing
! The banks and bankers are drawing sight eX-
change at rates varying from ! to J premium for
1 gold, and from to for Missouri paper. The in
side rate for gold is that at which the State Savings
offers exchange to its customers. 49,. ..-. .
/ Currency" illinois and Wsoonism) continues
I in small supply, and Missouri paper scarce.
There is little doing through the note brokers ;
at the hitherto rates Of 3a2 per cent month for
short commercial paper, and l3al fornotes secured
/ BY real estate.
/ The Supreme Court Of New York has recently
| given very important decision to merchants and
business men generally In suit growing out Ofthe
revelations of Mercantile Agent" in regard to
the standing and sOlvency Of merchant, the Court
held that communications of mercantile agencies,
affecting mans business, are privileged, ifthere
is no malice in the statement made The Court
said:
''If four bankers in Wall street should associate
themselves together for the purpose Of aseertsining
the character and standing Of their correspondents
| in Boston, and should select one Of their number
and pay his expenses to Boston for that purpose,
and he should, on his return state that he ascer-
| tanned Mr.. Jones, Of Boston, vas man Of bad
| charaeter-thst he had committed many outrsge5
! against society-thRt be was forger-and he com
munieaied that to the four associates in the conf
Dental relation in which they stood, it would be
privileged communication, and 20 action would lie
| unlesa express malice we're shown. Now, it is diff
/ hcult to see how there would be any difference be-
! tween four men and twenty four, any number,
/ associated for the purpose Of gaining honest and
truthful information Of this description and with
out malicious motives, and not able to see why
| the informatons given by this commercial agency.
so far it appears before the Court may not come
under the class Of privileged communications, if
| made in a proper manner and without any evil in
tent or malicious motive, and if made in good faith
| and honesty"
Il is easy to agree with the court in the put
BY it, says the St. Louis Republican, that no dam
ages ought to lie against one of number Of credi-
!
them information sbeut the standing Of debtor
The inquiries by such person. acting in behalf of
his associates would be delicate and discriminating
and the report would be certain to be honest while
it would be likely to be correct But when the bu-
sness of making such inquiries is taken up pro-
fesson for livelihood, it is very easy to see into
! what kind Of hands the business might fall We
only speak of tendencies, without wishing to be
derstood that it would not in many instances be
Quoted by men, possessed Of that penetration and
disoernment, Of that prudent, cautious disposition
and impartial temper, and of that fine sense of hon
| or, which, with good business knowledge, should
unite in the character Of the man, who would dis
charge himself Of so peculiar responsibility with
justice to either party, whom his opinions state
ments affect,
If these establishments and their business to
be recognized as things which ought to exist it will
not be denied that they should be strictly regulated
by law. The keepers of these establishments ought
to be licensed and should be placed under bonds
sufficient to insure the payment Of such damages as
might be recovered against them. To such regula-
tions, just and honorable men, with discretion
Ough to manage such business properly, would
not object They would be objected to only by such
| men as ought to be driven out of it.
We have received the annual statement Of P A.
ChampOmier relating to the sugar crop of louisiana
Being prepared with much care, after an examins-
ton of each parish to ascertain the actual amount
of sugar produced this publication is looked to by
sugar dealers with considerable interest After re-
ferring to the adverse circumstances attending
culture during the last two the author speaks
of the present condition Of the crop with hopeful
anticipations He says:
As to the coming crop 1 will venture no specula-
| tive suggestion. The number Of aces planted may
be less than last year. but the rattOons which failed
almost totally then, give promise to than
supply the deficiency efplant cane with ordinary
propitious season. and the absence Of the unusual
circumstances which have weighed SO heavily on
the sugar interest of this State for the last three
years. have a conviction that the energy Of our
planters will enable them to overcome any ordinary
difficulties and that the result will show that the
depreciators of Louisiana, as a sugsr-prOducinR
country, are very much in error.
In giving reospitulatiOn of the products Of the
several parishes it is found that 94 sugar houses
have given an aggregate production Of 297 697 hogs
heads Of sugar, weighing 8O7, 500, 700 pounds, al
lowing LOO pounds to the hOgshead. This includes
24O 8O8 hogsheads, made under the old process and
80 389refned, clarified and cisern Steam is used on
985 plantations, and horsepower on 859. The pro-
ductOn Of molasses has been in about the same pro-
portion in the former seasons if not more abun-
dant that the entire crop of mOlassss is put down
at 10 SIS 100 gallons, against T. 8S2, $50 the year
previous. The Louisiana sugar crop for the last