Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-05-15
money Matters i'm view York.

From the NeB York Journal OF Commerce, MsS Q.
There is disturbed restless feeling in the money
market, but no great appearance of excitement.
Money is not easily obtained b, borrowers upon any
cut of their regular course. We regret to notice
appearance of indifference not to say recklessness,
on the part of many merchants hitherto careful of
their credit; and many are making no effort to stem
the tide bearing them on to insolvency. There are
some who throw all their financial burdens upon
the banks, or their creditors saying in practice, if
not in words,-"if you don't want our paper pro
tested, you must provide the means of payment" "
1t is certainly proper that all should help who can,
and help all they can at such time as this: but
each man should work for himself as if his only
salvation was in such untiring efforts. Nothing
brings out the real character of man in such bold
relief, as his course in crisis. The worst kind of
failure is not always shown by an inability to pay
maturing obligation; many there are who fail TO
show any real manhood; and from such failure
there is no recovery!
The Government IS sending to-day S300.00 in
gold and silver to Washington. The 100000 sent
before was magnifed by runo2 would that rumor
could realize its vision to half million before it
actually reached Philadelphia and it amounted to
81 100000" when it arrived at Washington In
charge Of Major Anderson
Those who counsel moderation at times of general
excitement not only waste their BREATH but are gen.
orally denounced into the bargain. We do not pro-
pose, therefore, to suggest any restraint upon the
fiery zeal OF those VINO peleVe that no GOOD, unuer
any circumstances. can come out of certain sec
ton of country. We emily recommend to the zeal
OTIS "a little method in their Madness" The follow
ing from the regular Washington correspondent of
the New York Times shows the need of such eau
ton:
1.-The Banks in Illinois. Wisconsin and Iowa are
for the most part based upon Southern State Stocks
The consequence is that their paper is worth only
little more than 80 per cent This makes loss of
thirty forty millions to the people of those States
learn by private letter from prominent capital
st that the universal cry among the capitalists OF
these States ,cho hare been thus sViRdleG their SOd
er brethren is that the question with those States
shall never be settled until these stocks made
good large portion of these stocks are Missouri,
and the feeling against her is such that. if she way
ers in her allegiance, she viii be attacked directly
from these States
In the first place, it would be difficult to show
how the mere fact that the stocks of certain State
had deprecated in market value, was to be charged
as an act of S15indEg TO our Southern brethren"
United States stocks held for the same purpose in
this State deprecated nearly much; has the Uni
ted States therefore, ''swndled" the people of New
York? But the depreciation in Western currency
is not attributable alone, nor chiefly. TO any swnd
ling of tie kind described. Tie following from the
Chicago Daily Ne1os shows the basis of the crcula
ton of the sixty-nine banks of that State: