Daily union appeal. (Memphis, Tenn.) 1862-186?, 1862-08-22
rENNEssEE MONTY.

Communlcated.i
EDITOR APPEAL: The editor OF the Bulletin
and the bankers and brokers of Memphis are
having good time tinkering with the Mem
phis currency. As the bankers and brokers
have entered the ring to enlighleu the public
in regard to finance over the signatures of
"Truth and "Common Sense" it is to be
hoped they viii keep peckiag a. this knotty
question until some light is given to the public.
"Truth says "that the money is deprecated,
and disposed to go lower, is fact known to
most here" Doubtless he was thinking of
buying uncurrent money, and imagined him
self talking to customer oUer the counter
when he penned this sentence for further on
he says: al believe most fully that southern
money, as a general thing is equal to or better
than Tennessee bank paper, and as such your
citizens ought to uphold it until it can go
alonei "Truth," having invested, by buy
ing at 10 per cent. discount, is perhaps willing
to sell at par, especially as southern is better
10 shave) than Tennessee bank notes. If
Tennessee paper be good, how happens it that
the same banker or shaver, correcting the
money quotations for both papers, has Tennes-
see qGoted at par in the Batletis and % per
cent discount in the Union AppeatP Perad-
venture "Truth" or "Common Sense can
explain this discrepancy; or why is it that
southern paper, quoted at 10 per cent, is
bought al Is per cent. over the the counter?
Is this the patriotism that Common Sense
refers to? or is this the broker that has tried
hard to keep the southern money up
AS to the strangers who arrive here, having
peculiar distrust for anything South, it
should be borne in mind that the people who
held cotton and sugar here since the Yankees
came have also shown peculiar distrust for
anything South Hence, between the patri-
otic exertions of these people and the bankers
and brokers, the balance Of the community
have suffered until the thing is past endurance.
The balance of "Truth's" communication,
though readable, is barren OF fact or interest.
'Common Sense seems to labor like Missis-
sippi pilot in fog" he makes the discovery
"that the business of our city is not in the
hands of Memphis merchants, oct in the hands
Of strangers, who know nothing of the value
of Southern currency" The Memphis bank
ers and brokers know its value, though they
quote it at 10 per cent. and shave it at Is per
per cent for Tennessee, and then shave Ten
nessee for Is per cent. Where is the use of
| inserting in the newspapers that the Southern
money is good and at the same time shaving it
over the counter at Is per cent. Common
Sense" thee must be more consistent. The
remedy for this evil has been pointed out. Let
the brokers send hence the Southern money
they have bought, at ruinous discount, DUR
the last sixty days let them cease to publish
unfair quotations of the money market, for if
the Tennessee banks are not insolyont, their
paper is equal to any other suspended bank
paper; if we must have money quotations,
give Tennessee money fair show, or give the
public a reason for its diseredit. How long
viii the patriotism Of bankers and brokers
suffer Yankees to ta0it our people for preferring
Northern paper to their own.