Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-03-08


The Bank Of Commerce is again quoted at par
the proprietor having returned to the city and re
deemed all he could ind in the hands Of Brokers
and others. The issue of the Southern Bank, ths
Commercial Bank and the Bank of West Tennessee
at Memphis, are now quoted at 2 per cent discount
which is an improvement Virginia currency i
not good, owing to the difficulty Of converting il
into Exchange, and we notice the rate Of discount
has been advanced to per cent on all solvent Banks
In New York on the 4th at the first board, the fol
lowing sales of Tennessee. s per cent Bonds were
made $4,000 at 7S3c, $4,000 at 7s1c and $4,000 at
7sc and at the second board, $1,000 at 7sacI Al
the close 74c was bid and 74c asked. The telegraph
reports sales at the second board yesterday at rae
In the general markets today there was fair de-
gree Of activity The Cotton market exhibited some
life, but buyers did not come forward freely and
the business was restricted. Holders were quiet
under the impression thassheir Cotton viii be re-
quired long before the clese of the season. and hence
they are contending for full prices. Tobacco went
of quite freely today and the prices realised were
satisfactory. The finest Tobocco brought to make.
this season was sold to-day, and il realised very
handsome prices. The movement in Corn still con,
tinues setive, mainly on orders from the Southern
States. The trade in the articles embraced un-
der the heads of Breadstufs and Provisions viii
continue uninterrupted with our neighbors Of the
Confederate States as those article are admitted
free Of duty, but in the dutiable articles there
has been noticeable falling of already. The
local trade in is with points in our
swn Sta1e-continues good.
TRADE and Csnansrcs az Charlestsn.
Of that city again becoming alive with trade and
commerce, and adds: eFrem the large number Of
boxes which line the sidewalks in front of our
wholesale stores, is evident that large business
has already opened. The spring trade is opening
with fresh demand and we learn that supplies By
heavy importasions have arrived in greater guam
titles than usual at such periods. Our wharyes are
also assuming q crowded appearance. Cotton is
coming in fast, and meets with good and fair de-
mand. Vessels also in demand f0f loading cot
ton ready to be shipped. The draymen are busy,
and are likely to reap a rich harvest
Direct Trade between the south ana
Great Britain.
We see that British enterprise is already prepar-
ing to take advantage of the policy winch has drv-
en- the Cotton States out of the Union. At meet
ing held st the Bank of Charleston last week, pro-
posals were received from Mr.. A. N. WEIR, large
London capitalist, and Messrs. LAIRD Co., the well
known shipbuilders offering to raise in Great Brit
ain half the amount necessary to secure the estab-
lishmens of a direct line of steamships between
Charleston and Liverpool. 1t is proposed that
joint stock company shall be formed in England
under the limited liability act in which the Char
lesion shareholders will be placed on the same FOOT
ing with all others. The company once formed,
three iron screw propellers are to be built and run
as regular line between Charleston and Liver
pool 1t is intended that they shall be Of 1900 tons
measurement and $50 horse power, with capacity
for 900 bales of cotton taking the bale at 40 lbs.
The total cost of each steamer, it is calculated, will
not amount to more than S235 900, or sos eco for
the three, the proportion to be raised by the
people of Charleston being s235, OO0 The proposal
bias been warmly taken up by the leading merchants
Of that city, and committee has been appointed to
solicit subscriptions.
1t would be premature, says the New York Her
aid to enter into investigation of the merits Of
this scheme until we see how the appeal made to
the Charleston capitalists will be responded to- Of
one thing, however, there can be no question-that
the establishment of the line viii at once bring the
calculations of the Republican extremists to the
test. Should the Administration attempt to carry
out policy of coercion against the South, it must
Immediately bring it into collision with Great Brit
ain. The vessels of the company being owned in
moety by English shareholders, any attempt to lay
an embargo on them will be regarded, if not as an
act of direct hostility, at all events case for
damages. Under such circumstances, the threaten
ed blockade of the Southern ports viii be practical
ly imperative. and will affect only the vessels of
those governments which are too weak to force it
Its main Object-that of preventing Southern staples
being sent to England-will be defeated, and thus
of the principal means of coercion relied upon
will fell the new Administration at the start