Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-03-10
Monetary and Commercial.

There appears be scarcity Of Exchange west
suit Of holding up the produce OF that higher prices
The Cincinnati GGsette Of the 7th sys:
There considerable uneasness In the market for Eastern
exchange saturday The transactions Of fourth h
reduced balances and the offerings Of mercantile proving
light leading dealers tow the close re ID to draw FOR ont
side parties aad the latter in many found difficult
make purchases This condition Of things grows chiefly
Missouri Currency question: which we have heretofore re-
erred There general impression change must take
plae to equaZe mat beW tits place and ST. Louis
either by advancing RAJ here to throwing Missouri
branch paper alike by dealers and business men
The consequence is, both classes aiming to themselves
chasing anticipation OF their wants owing mixed char
Of the bank in circulation present. prepOn
deraDce OF an inferior currency not to be denied that
change below producing point This being the parties
who want exchange 10 need ia the immediate future
a to get sion OF as rapidly as possible The effect Of
this movement s. OF course TO render the market stringent
than would be even With present Supplies the future
Tree from the dhcnes that are a this time so prominent The
scarcity Of exchange in the not Questioned The advance
to per cent in st. Lous settles the matter that
Private adyces from Louisville s. to that the banks there al
out Of supplies and that the
they would advance their figures As il is they sell no more
than absolutely necessary The elect OF this is 10 increase the
current OF demand to this CENTER while parties in the interior,
whe have drafts sell will seek rket in St Lsuis Thus
the SANG caase Tor This market more than It's proper
ton OF the orders from abroad and the time reducing the
supplies The fact is stated in this column two
mnch largest proportion OF Inc exchange requrei IN the west
has owing the holding back q produce to be made flank
every day during the last fortnight The result the more 40
eesble banks have been retiring their currency As
Increases and now % be impossible to convert tie cur
rency sufficient extent to meet the demand for exchange at
hanks have the remedy for this difficulty their
There produce enough the South the obligations
of this section to the East they but the bulk Of this
being held back speculation, Of courEe unavailable
present. The heaviest end Of this load the carrying
and while they continue shoulder it, exchange will have be
made out OF hecurrency There is disposition ship
produce which s probable will continue advances
and the banks insist this they cut Of the
present exchange difficulty 1t their only reliance.
The ST. Louis Democrat of the eth says:
The demand for Exchange great Saturday has
the past few days. but the supply small
tnue heretofore viz sight drafts the East premium for
specie premium for bankabe funds and IL premium for
rency New Orleans premium for spe;ie to for bank
uns and "a for currency. Gold remains and sells
premium. Prom conversation with merchant who sells
largely the New Mexico that
Arizona will arrive the rt
middle Of month, bringing not less than OF
million specie and large quantities Of Government dafG This
contribute large degree TO make money matters easy
here. as. ''-" -
At Louisville the It'll Exchange was quoted firm, the banks
selling sew York short sight and tia brokers = premium
and New Orleans ssGA. Gsld was selling at 19h.