Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-06-11
COMMERCIAL.


| MONDAY Evening", June 10, 1851.
| A convention of delegates representing nearly
all the railroads in the Confederate States including
Tennessee. was held st Chattanooga on Tuesday,
the 18th inst. at which resolution was unanimous
~ adopted to receive the Treasury Notes authorised
to be issued by the Secretary of the treasury OF
the Confederate States at par for fresnts ahu are
The Nashville and Chattanooga Railroad was rep
resented in the convention by Col WHITEsiOEs' ana
at meeting of the Directors on the 9TH, resolu-
zion was unanimously adopted to receive the Treas
ury Notes at par for freights and fare. The BANKS
in Charleston and Savannah, and other points In
South Carolina and Georgia, had already resolved
to take these notes deposit and pay them out as
currency, while the Bank Congress at Atlanta re-
commended all the Banks in4he Confederate States
TO receive and pay out the notes in like manner and
we doubt not they viii acquiesce in the recommen-
dation.. This action will at once place the Confed
crate States upon equality with the best circu-
lating medium of the Southern States-a safe and
reliable currency.
In New York on the 9Th at the first board. $1,000
Tennessee per cent Bonds sold at 4ssc and at the
second beard, 81, 900 at 4o4c.
The New York Journal Of Commerce. Of the 7th
says:
A singular iluuraton Of the disturbed ccs1ition
of trade may be given as just made known to by
the last arrival from Liverpool The British ship
Geo. A. Holt cleared from New Orleans April eth
with 450O bales of cotton for Queenstown and or
ders. She arrived at the latter port the 2lst of
May, her cargo was sold by sample at l5c (of aver
age good middiing) to Boston purchaser, and the
ship is ordered to recross the Atlantic for the bene
fit OF Massachusetts, cotton mills. At the moment
that cargo is thas bought at Liverpool to return
from Queenstown to Boston another cargo is being
made up at Boston for Queenstown and orders, and
the two vessels will cross each other on the way
The following is summary Of the TRANSACTIONS
at the Custom House during the past month:-For-
eign arrivals $685. eoastwise do 131: clearences for
foreign ports $50; cosstwise cearances 404 regis
tiers issued IS; euroments 81 licences 334; protec
tons granted II; bills of SALE &c recorded. 2l3 1t
appears that the number of arrivals from foreign
ports is ITO than for the corresponding month
of 1860. and much larger than for any previous
month inthe history of the port This factis explained
by the focking of vessels to our hsrbor and market
from the bIockaded ports of the South. Foreign
shippers now being informed of the blockade. and
thatitis not easily eVaded, will of course, withdraw
their vessels from Southern trade; and the number
of foreign arrivals at this port may, therefore be
expected to fall of rapidly from this time forward
In the matter of profitable foreign trade things can
hardly be worse than they are. The depressed con-
| clifton of our commerce with England was well d.
scribed by the captain of ST the largest British
steamships, WIN was recently complaining that
1.-THE Green's proclamation wouldn't let him bring
contraband, and the Morrill, Tariff kept cut every
| thing else Another illustration is furnished by
the case of the ship Alliance, from Newport, Wales
| to Charleston with iron and coal Arriving of
Charleston harbor, the ship was warned away and
sailed for New York, where the master found in
structions to clear Immediately with his cargo for
Liverpool-where the iron could be disposed Of to
better advantage than in this country under the
| high prohibtory Tariff.
Sales of American vessels to British subjects res
dent here continue to be frequent; and nearly ell
| the commerce between the ports of the United
States and those Of Cuba, the West Indies, Central
and South America and the Pacific coast, will prob
| ably soon be done under the British flag,
| The London Economist of May "a has the follow
| ting remarks:
Notwithstanding that the dren of specie to Anne
RIGA continues unchecked, the money market this
| week has shown increased ease. 1t appears that
| the heavy demand previously experienced arose
more from alarm than from any real requirements,
| trading community find themselves oversuppled
with capital. The best short paper can at present
i be negotiated at 81 per cent while six months bills
| are taken at per cent On the stock exchange
| money has been more abundant, partly in conse-
quence of e2l0 600 India bonds having been paid OF
| at the bank for which the requisite notice was
gwen a year ago. and loans on government securi-
| ties can be obtained for limited periods at per
| cent.
The following the rates of discount In the
/ principal cities of the continent:
L I