Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-03-17

Last Weck-.ss.. % 0o5 Zf 10 %, o4l
The accumulation Of specie in the Banks through
out the country since the panic, is the most remark
able fpancisl event of the time. The Philadelphia
american says the aggregate is now, as made up
from the returns near to January 1st and since that
time, fully ninety fire millions Of dollars, OF thirty
two millions more than at the lst Of January, 1887
then the total in all the Banks Of the United States
as made up at the Treasury Department, was $751;
$50, 600; now, exclusive of States reporting eight
millions Of specie in January, 1857, the fOOtings are
SIC, 500, OOO all from recently published returns
The returns not here included are not accessible at
the moment, but we may be safe in supposing that
an increase rather than deficiency in the specie
totals, has been realized there also, The whole
probably exceeds S9O,OOO,OOO now held by the
Banks, exclusive of California, an increase of $780,,
OOO 900 on the hgh sum reached year since during
period of full prosperity in every department Of
business. The same paper adds:
The result nearest in the future is rapid decline
in the price of money Gold is so far in excess of
present wants that it rapidly and constantly sccu-
mulates Every city has a rising figure fOr the
specie item and there is immediate prospect of
drain setting in abroad for the like accumulation is
taking place in England and France At Lond )n
the use of money has already fallen to and A per
cent with little custom at the bank, which IS
not yet reduced so low, and it is anticipated that
decline to . per cent will follow, has al
ready been the case at that singular theatre of the
present pauics on specie basis, Hamburg To what
uses is this excess Of gold to be putt Business must
eitherlargely expand employing twice the sum now
employed or gold must decline so much as TO be-
come drug in the market Strange as this pros
peCt would appear to people fresh from the insane
III. d, q = 1a4 - Sc
the next and certain phase of financial development.
The results Of this excess of specie are already
becoming apparent. In New York, the Egsnng
Post says, the lender is obliged to search up the
object Of investment, consequently borrowers in
many instances can dictate their own terms, which
range within 5a7 per cent for short date first class.
similar state Of affairs exists in almost every large
city in the Union
The loan Of $4,000 authorized by the Legisla-
ure Of Maine, reimbursed in eighteen years, at six
per cent interest, with semi-annual coupons, pay
able at the Suffolk Bank in Boston, hiss been taken
at a premium Of four and one-haIf per cent
Thcstatistics show a large falling off in the ship
rent of railroad iron from Great Britain to the
United States in the last three months of 1857 as
compared with those Of 1856. The total of October,
November aadD December, 1856, amounted to q, 479
tons. while in the same months Of 1857 the aggre-
cate is only 400 tons, deficiency Of 1910 tons.
The New ork Evening Posi- of the 10th says of
the dry goods trade:
There mas been a freer movement in this branch
oftrade during the pastWeek Southernersh have taken
hold Of light goods such as lawns, prits, &c, with
more freedom and the sales have been larger than
| any week this season. Many JObbers show quite
disinclinatiOn do business, while others ar dis
posed to push trade to the fullest extent though not
without stopping to deliberate whether the customer
is Of the right sort. There is much irregularity in
the busiuess-some have fine, large assortments,
while others have comparatively no assOrtmeuts
at all The moderate business that is doing appears
TO have fallen into the hands Of certain GLASS; who
are making the most of it. The manufacturing in
erest is gradually reviving and there seems to be
/ much more courage prevalent, though the rise in
cottOnis not without its influence in checking an
! ver-prOiuetiOn.
! Cotton goods have undergone quite an improve
| ment and BASE, are now the ruling rates for
! heavy brown sheetings. Light makes are quoted
/ mt &c. Cotton duck is an exception, being quite
! NEGLECTED Brown drills are held with 6rmness at
! SIC; bleached Sc Denims are little more in
! guired after. WOollen goods are not 50 much in
favor as cotton although most descriptions Of fancy
cassimeres sell well at remuneratiVe prices. The
low qualities are still in large stock, and the de-
mand very moderate which forces. holders to offer
them at low prices. Satinets sell very slowly, and
/ broken lots are offered at very low prices Mons
de LANES have sold well; the demand is not so good
this week; prices prove quite satisfactory.
Nashville Market, March Is,s-..
! CoTToN.-U ufavorable advicss from OthermarLeti
have somewhat depressed the market, and we quote
decline of fully c from last weeks prices. The
! sales 20 day have been limited, at 9alOc.
ToBACco.-The sales yesterday and to-day have
been quite large. Messrs. Fisher, WheeIess s Co
sold fourteen bOgsheads at prices ranging from $50
to 9.65.
REPRESENTATIVES. is considerable activity II
the Bacon market, at Sc. hog round. Lard finds
ready salsat 85d9c.
GnoCEnms.-sugar 7a8l, Molasses 85a88, Cofe
12al85.
The Cotton Markets,
! CHARLESTON, March 13.-There are no buyers AM
the market g at a stand. Sales to-day only 10
bales at 1l8 to l2kc.
AUGUSTA, March I8.-There is good emand to
day. but light stock Offering. Sales about j00bsles
/ The market closes firm, at unchanged quotations
Niddling Fair to Fair II 8 toll4c. -
CoLUaBUs, Ca, March l8.-The trade yesterda.
was confined entirely to spectators. Very littl
was done. The market appears to beperfectly stag