Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-06-23
COMMERCIAL.
Monetary aud Commercial.
SATuRpAT EyENNo. June 81. 1sI

SATURDAY. u ENISo, June p, 1861
There has been no change of any note in Monev
matters during the week. Southern currency con.
times to be taken freely at par ia ordinary bust
ness transactions.
There has been pretty fair demand for Ex-
change on New York during the week, mainly on
account of Louisville. Towards the close, however,
the demand has fallen of, and there is but very
limited supply On the market. The quotations have
remained firm a. l2iS15 per cent.
/ There is good demand for Gold and the Brokers
are charging Is per cent for it. They are paying
10 per cen. for it. We hear considerable complaint
Of the scarcity of silver change and dealers find 1t
difficult to get enough for making change in their
ordinary transactions. This scarcity has resulted
IN part, if not in whole, from the issue of small
bills. Parties have to pay IoS IL per cent premium
for silrer,
Several very important bills Of q financial char
| acter are now before the Legislature. A bill has
passed the House of Representatives exeT1pting Il
State Bends issued by authority Of the Military Att
from taxation. Two millions Of these Bonds have
been issued, the law authorizing an issue Of five
millions. There is no doubt but that the bill will
pass the Senate. A bill has also passed the Hou.
of Representatives authorizing the issue of S300Q,-
900 of Treasury notes in lieu of the So 900 600 Cf
State Bonds remaining to be issued under the Mil
tary Act. These Treasury notes are made bankable
and receivable in payment Of taxes and other dues
to the State. and thus become q circulating medium
of the best character There is no doubt but that
this bill will also pass the Senate. In the House Of
Representatives yesterday Mr.. CAN'T, OF Maury,
introduced very important BILL the provisions of
which are as follows:
l. That it shall be lawful for the Banks of tits
State to receive and pay out the Treasury Notes Of
the Confederate States.
Q That all officers of the State are authorized to
accept said Treasury Notes in payment of moneys
due the State; and that they also authorized to
receive in payment of moneys due the State, the
circulation of the Banks of this State which con-
form to the Bank Code and the acts amendatory
thereof
8. That the Banks of this State which are sub
iect to the provisions of the Bank Code, (the Bank
of Tennessee included,) shall resume specie pay
ments simultaneously; and it is hereby expressly
declared that it shall not be lawful for one Of said
Banks to resume specie payments IN advance of
another.
4. That the policy of the Banks Of Tennessee in
retiring and diminishing their circulation is detr
mental 10 the public interest; and that they be
qured to reverse their policy and increase their
circulation, so to answer the public wants. pro-
Yided that such increased circulation shall not eX-
coed two dollars for one Of said capital stock.
L. That sc much of the first section of the act of
January 81, 1861, as fixes the time for the Banks
therein named to resume specie payments by the LIST
OF July, 1852, be and the is hereby repealed.
In New York yesterday, at the second board Ten
nessee Bonds sold at S6c, Virgnias s9c, Missouris
37Sc, Lousianas 5lc and North Caronas 44c.
In the general markets business is very dull, and
transactions are confined to the supplying the de-
mand FOR i'm mediate wants. There has continued
fair movement in Flour, for both home consump-
ton and export, and prices have remained firm.
Flour from new Wheat is making its appearances
pretty generally in the Southern States which will
have tendency to depress prices. In this market
very little new Flour has made its appearance. We
continue to quote