Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1860-11-22
COMMERCIAL.
rrenetarr ana FInnncinl.

Money matters continue in hs same stranea condition
which has characterized the market se7sra weeks The Bank
doing comparatively nothing, while outside capitalists pari
WITH their money only very high rates. say Is per cent
per month These rates submitted only By hos whose
necessities csnpel them to pay high price.
viii be seer by the dispatches telegraph couran
the business Of Charleston decidedly tight
Money market and failures Cotton trade are re.
ported The refusal Of the Banks
presars and failures departments Of business as we'll
Cotton follow. Sterling Exchange reported down to
e, which IS believes unprecedeudn commercial history
of the country The dispatch advise that the Charleston
Banks do not ntens suspend long Banks
continue pay sse which cOnfnatry the intelligence
we have heretofore had from that point.
twill be from dispatches that Farmers Bank
of Virginia. Richmond, has suspended specie payments and
that others expected to follow The pressure reported
! terribly severe in that city.
Trade continues excessively dull being cOned not only here
bat in the interior towns, the customers
Country merchants curang their purchases very much 10
anticipation greater srngeney in Money matters The
trade Of se country suffering very materially from the poll
teal movements in the States South u.s. until these causes
removed, shall expect revive to any
considerable extent. gentleman returned Cincinnati
informs that geaa ssagnaon in business Of con-
henc have not been Witnessed there for heavy trade
which the business Cincinnati were carrying on with
various portions Of the South especially breaasu pro-
VISIONS has been almost wholly Suspended The same state CT
affairs exists at louisville will be BY the following
tract from the commercial columns q the Louisville Journal of
the Goth:
The political the far South have had their effect
uDon trade in this conservative latitude merchants
ing lost confidence in degree stability CORE
spondens in fs region The the CsrOna
legislature virtually egazlng suspension Of cie nav
mens the Of thae created disrust
Carolina banks with Alabama and Georgia (which
States second the movement South carona have
suffered in circles will not buv
them at all while those who do receive them discount at 10
to Is per
nrh,r
lima and Georgia Money reduced in that city 18Th to
5per cent Only four i've ago this currency was quoted
at 2o925 per cent discount This would to indicate that
the business Of Cincinnati beginning to come to the.
senses. The "pOcket nerve has been touched.
The Charleston Mercury contains following paragraph
The difficulty lately experienced here negotiating even the
shortest exchange New Boston, may
some temporary nconvsnience, but its RESULTS otherwise
heavy consgnments Of gold payment cotton The
stream Of specie thus pouring the community must in
Its recipients will naturally veItt in cotton rice ard
thus we may State in position Of
financial strength
The New Herald points its money article Of the
ing Of the 18TH the following extract froma letter addressed y
leading house at Charleston Messrs. DUNCAN SHERMAN
Co., Bankers Of New York.
We have seen our Collector and other citizens;
ing viii be damage the morale posi-
ton Of South Carolina, and respect will be extended the
proper rights oa parties under Mr. Buchansns administration
Vessels will be cleared and every regard paid to collecting debts
due as hereore We are prepared to do duty as far col
strengthened as We BY knowledge Of our people, that
whatever their antagOnsm rooted never
repudiate- Any may hear OF Importance do
listento
The Herald says OF the New York Money the
Our Money be distressngly tight The
offerings the banks this morning unusually large-con
sdehy than the hanks could discount In the
for the best about S per cent class
exceedingly hard pass price. II this
affairs many days shall hear many failures
strong condition Of business that there should
have been none so far.
To show the turn which financial affairs have
great commercial metropolis may mention that
merchants who from only days
forms that while he there capital abundant
borrowers found difficulty in getting any they desired
per cent? indeed anxious parties holding capital
invest that when they heard OF wanting to they
hunted him These facs show great change short
time.
egraphc dpatcto the Augusta papers says sales
Of sterling bills made IN New 18th at OII02
Sales the 10Th 1O The bills Of Of
Charleston endorsed BY the Bank Ct the State York;
offered in New the 18th Io4 reported Gin
cinns the 18th that sterling exchange in New Orleans
par which the Cincinnati Commercial supposss
down to the dollar which below par sterling exchange
New quotations. York TiJune says
gold from England the present sterling bills in that
city would pay profit of 6 per cents may expect
gold will ow freely frcm Europe these quotations
reach the other side Early December the ettances
may probably be expected.
The Augusta CoRSts0alist the gives following
as the quotations for uncurrent money that place.