Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-09-22
Monetary ana Commercial.

ocpt EAs lOVts
There have been no transactions IN Exchange
during the week, for the reason that there is no
Northern to be had and there is no demand for any
on Southern cities. There has been considerable
demand for Gold and for the notes Of Kentucky
Banks. This demand has come mainly from par
ties who, it is understood, have seen purchasing
live stock in Southern Kentucky. Gold is now
quoted atI5@20per cent premium, and IS reported
scarce even at these figures So large has been the
demand for Gold that some Of our Brokers have
-endeayored to meet the demand by purchasing in
the Southern cities, but they could not getit.
The events occurring in Kentucky have rather
unsettled the market for the Bank issues Of that
State. But parties purchasing live stock in the
Southern portion OF the State hare taken up about
al that has been ofertd ial q. sasr2 rec :
During the week the Banks Of New Orleans and
Mobile have suspended specie payments. This step
was taken at the suggestion Of the Governor Of
each State, and was done with the view Of enabling
them to receive and pay out the Treasury Notes of
the Confederate States >Government These notes
are now taken and paid out by all the Banks in the
Confederate States, and win become the circulating
medium for the whole South, except in the case of
bils Of less denomination than FIVE dollars, which
viii be supplied By the Banks in the several States.
This makes the Treasury Notes of the Confederate
States national currency, receivable at par in
every portion of the C0nfederacy, in transactions
Of every description. They win pay any dues te
th Governments the same as Specie, and they sup
ply the Exchange for which merchants have here.
tofore had to pay high rates Of premium. The
Bank Note currency viii now be gradually with
drawn, to be replaced by the Treasury Notes of
the Confederate States, Of which the Government
is authorized to issue $lOO,OOOOOO. This patriots:
policy adopted by the Banks Of the Confederate
States pisces at the disposal Of the Government
what Is equal to 500, 700 600 In Specie st tina
when the Government needs such aid This action
Of the Banks shows, also, that the government has
the confidence and support of the moneyed insttIi-
lions CT the COnfederacy.
There has been considerable change in the rates
Of the curreHcy Of other States. The Brokers
charge per cent discouns on the issues Of mott
Banks that have heretofore been quoted st and
above par. All these, however, are taken at par in
ordinary business transactions.
Z The New Orleans papers of the 18th state that
the Louisiana State Bank has determined to issue
quarter Of = milliOn of one, two and three dollar
bills and that it Is understood the Bank of Louisi-
ana will pursue the same course. There viii be
no lack Of small bills as we believe large portion
Of the Banks throughout the Confederaey are issl-
ing them; while several have issued or are about
to issue shin plsstersr Of denomination less than
one dollar. II this policy should be adopted to
considerable extent al the silver change win be
driven out of circulation.
There has been good deal Of business doce dur
ing the week-we may say heavy business-bVlt
il has been mostly Of speculative character. In
the Grocery line the stocks are held mainly by
speculstors and the consequence is prices have adj
vanced to very high point, with bat light stocks
in other hands to operate upon. If the demand
which has prevailed for some weeks past, should
continue for short time, the stocks on our market
including those in the hands of speculaIors viii be
pretty well absorbed. There is still fair stock Of
Dry Goods on the market, but they have been taken
up rapidly within a short time by the trade, snd
now that we are cut of from all sources of supply,
we shall expect to see what Is en- hand soon disap
pear under the good demand that now exists
There has been some interrupt ion in the ship
ment Of Flour during the week, but that has now
been remSdied. The demand has, however, been |
brisk, and large amounts are now going forward. |
We quote Superfns at s5.z5(955O and Extra S5.75 /
COCO. Sacks OF 90 lbs range from $3.50 to Sc.
The receipts of Wheat are quite liberal, but there
IS = large demand At full prices. We quote White
It sO(9s5c, Red 75GsOc, and Mediterranean 100 /
&c per bushel. Corn. which is in light supply, is
held at 1901 5c, sacked Rye and Barley are quoted
It 65(a75e, and ORts S5C94Oe.
Bacon has been rather qniet The consumpiive
demand has fallen off considerably, but owing to
very light stocks, prices have not been Affected
We quote as follows: Shoulders 10000, Hams
no 2c, and Clear Sides 23925e per ID. Lard
IS quoted at 22925c per b. with but very Light
stock on the market.
Good fat Beef Cattle find ready sale st 2lC93c
per ID gross. Sheep are in demand at sl.509225
per head.
The transactions IN Groceries have been light,
bus an advance has been established 10 some Of the
leading articles. We quote Ris Coffee at 42l@45c
perlb; New Orleans Sugar l04GSI1e per ID in bbls,
and l9lc less IL hhdH; Loaf at 22e and Crushed
At 2o922c per ID, and Aolasses 45G947c per gal
l0n sssfe
Pc ,-El-..3 81 f..aers q
ata s.se -lltlsrf l1 rs Is 49,. =