Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-03-12
Monetary and Commercial.

At recent meeting Of the Glasgow (scotland) Chamber
Commerce. report commercial cries presented by
Committee Banking Laws, which aoSunds with sound prac-
teal sensible views, plainly and osy stated. They asap
pcabe to this country that which they expressed
espe BY commended to the attention OF the people Of this
State at this time when they engaged 10
the banking SYSTEM and thus put cheek upon the great
tain Of excessive credit The similarity Of the principles stated,
with those which engaging hs attention the friends
reform in the the leading commercial the
north, well in Tennessee shows that beginning
look at this question from the stand point Of commercial expert
ence, and hence verging to the conclusions.
The report The best security against
WILSON'S to limit credit. The a business
will be trade The comparative security Of
during the late crisis gelty
owing the modified nature OF its Credits and, the other
hand the Disasters which the OF America
certainly result exaggerated credit system Ecer
trAeye tie stability ocomercs ism ratio tie
reopSnt of credit But tie abuse Of mercantile cred9
erst any great tsnt b0s1sd IN NE abuse
Of banking credit. In commercial system the given
by trader to another, depends mainly tie credit gret
By bankers 10 traders Traders could give excessive credits
unle bankers supplied them with the hDrtdent
banking tie root Of al HHSonRd trading The great fault Of
banking nsuciency reserves Bankers like
traders bound provide for their solvency they must re-
ample obligations any de
parure from this rule the nexcusab that propey
amount Of reserve for them hold may DO scertansd
mathematical precision But the profit or the ur
Of their customers induces bankers many
invest their deposits closely prudence warrants
safety sacrificed for additional per cenage profit the re
is allowed to fall dangerously pres
the bank has nothing to fall hack upon
fceny Of banking the immediate pancs
When pressure occurs great money lenders are the first to
take ALARM with enormous liabilities and inadequate reserves
Immediately available they feel their soIYency is
endangered their violent Efforts regain position Of safe
ty the chief Of disturbance in the money In
stead Of lending others, they become themselves most i'm
Fortunate Of borrowers Those WHO should sustain the
chief auho of dscred they who inspire confidence are
themselves panic stricken. 1t the needy depostOr or snO
nOtehOer Of the provinces pans It Is the
millionaire mOneyender Of great centres Of One
great of insufficient undoubtedly high
OF interest allowed upon deposits Such only paid
and profit realized, close investment Of deposits Our
ing credits mainly Branks The
provincial Banks deposit greater portion Of their
Lsgdon bankers pa The Lsndon Bankers again invest
their deposits closely and trust mainly fro the
England o. need, the Bank Of England
itself allows in times of pressure trains
fraction Of its deposits Thus the vast superSucture British
ultimately triae Of reserved capital
Our whole credit system is an Inverted pyramid"
Cincinnati Market. March o,
CAxDur AND sOAE-The very rm for Star &c for
supply Opal is firm at Icnot Ice erroneousy quoted
last Talow the latter for double pressed
Soap firm at for Palm and No. and &c for The
m and continues good.
CHETke market has ruled firm, and prices we'll
tanned We quote prime R. at lsc extra large DO l2 and
English Dairy I31zc.
FRU TsThe market for Dried has remained steady throughout
with fair demand in the regular 32
ioT FOOD TO prime Apples and 50 3G3 IS for Peaches,
HIDEs There material notice In the market
Tbs demand is good, and m at I4lS for Flint 3
Dry Sailed ~ for Green salted and for Green
HAY-The demand has less active and prices slightly
declined last review the market closing steady SI7
a S for prime, and Sl5G Is for good.
IRaEThe market is firm for Pig and sales have been
the landing Of Ohio Hot Blast Pig s35 during
being slight improvement though manufacturers buy
ing To Rar
advanced c closing at 93c for common, and 4c
charcoal.
LEAD sHOTNo change in Lesd the demand moderate
and sales confined TO small lots to meet the Of the trade
We quote Pig at 81, Bar 696 and Sheet and Pipe 7zg71sc.
Shot unchanged and selling at 50 so per key. ...
LETHsRThs demand for all kinds good and the market
4m. We continHeto quote as folloYG