Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-10-20


We learn by ser received yesterday that the Lawenceburg
Rank has resumed specie payments which will place the
/ that Bank at par
The Ocee Bank taken deposit by Banks,
issues are, therefore, quoted at par
The London correspondent of the New Commercial
der date Of the oath u furnishes the following interesting nan.
cal
The Bank OF France yesterday reduced its Of discount from
81 per cent at which had stood since the 10th Of june to
per On the previous day the French Government
cred the interest onreaur note from 10 % per cent These
generally anticipated have been without
any immediate influence prices but the accumulation Of
that burst Of speculation must be expected before the lapse
Of months however impossible may be to divine the form
in whichitis likely to manifest itself.
The bullion in the Bank of France stands at about $780,
OO Tar hher sum than was ever before ed by that esab
shmen and than $40 COCO in of the largest total
ever collected in the Bank Of England At the Of
and the influx in months has therefore been SOOO0O0
At the Bank England the total the beginning OF the year
$50 0OOO0 and is than sos 100000 The highs
est ever possessed Sl000 900 July, 1852 At pre-
senteveryhng seems to indicate that during next year, not
earlier, this point will be exceeded.
OF course under such the probability Of reduc
The Bank Directors greatly ndposed such STEP but
transactions daily taking place in the open makete as low
public will further the payment the Oeto
Ter dividends they will have no il they are to trans
any whatever. 1t is better, also, should take place
now speculation yetdorman than future time When
might with treble force by exaceroang existing mania
The London Times of the 2sh u, discussing the probability
of the reduction the rate interest to % per cent says
Unjust inferred that the anticipated reduction in the
discount will constitute merely short prelude
reign Of speculation Two ana half per cent is amil.
charge within modern experience and for long periods. In
s45 prevailed for thirteen consecutive months and
the ,ame was the case in 1919 and s namely,
commencement Of 1852 woand haf and even two cent
adopted during interval OF fourteen months Indeed for
nearly five years, dating from eme 1873, after the
railway three per e hi c rate, and half
per being exactly half the time. There
Consequently no reason to assume in the present case that the step
will necessarily Of slight duration. Every thing in that
pest will depend the possibility Of mpulseb being found
which shall enable mania to be got up with entirely distinct
any that have been known before Although
periodical dusiOns have all inherently perfect similarity, their
signs invariably novel; After each former crisis the
public consider themselves wonderfully shrevd and
auan thing the They safe
condition should arise which they could be told
the rules Of former experience wholly uappcabe.
According commercial statement in the Savannah Re-
publican 18th inst theecep Of cotton at southern ports
up received compared with the receipts at the
year. show incese this year Of hun6rdand
fysx thousand hundred bales the increase in stock
hundred and nine thousand hundred and twenty seven the
in foreign shipments foryseyen thousand six hundlS
and seventy and the increase in the shipments to northern
ports hryeht thousand hundred and twenty three bales
We are satisfied foregoing statement is sufficiently reliable
practical purposes it should be remembered that last
season the crop was not only unusually maturing but the
planters withheld their crops market with persncy
nown former years Hence comparison Of the business Of
the present. with past year. satisfactory
illusions
The Charleston Courier 18th says ~There active
demand Cotton to-day, which freely by holders and
the sales reached fully 2lOO bales The transactions have esab
hed fur her reduction quotations Of the morning Strict
Middng day valued at IIz9n5s Good
Mddng at and Mddng Fair l2c. The sales embrace
the following figures, viz bales at 9 at TO- l6 at lO 80 at
IL I47 at ~ atl 245 II 46s at ll5l 60 at l5G
434 at y, and Sc tales at l2lse."