Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1866-12-09


1t win be seen from this statement that
the loans to the business men of the three
principal cities in the North are very heavy,
and that panic which would necessitate
the banks calling in their loans to con-
siderable extent, would result in ruin to
large numbers who are struggling Ito keep
their heads above waterP SD 81
A Washington dispatch of the 9TH inst.
says, in reference to the reported recent
sales Of Government gold in New York, it
has been learned that no specific orders
have been given by the Secretary of the
Treasury to sell. Mr.. Van Dyke, the As
sistant Treasurer in New York, has discre-
tionary power to sell such amounts Of gold
as he may deem necessary to prevent the
success OF any combination to put the price
Of gold up to an unreasonable figure. 1t is
the opinion OF the Secretary that there is
nothing at this time in the financial situa-
tion of the country that will Justify a
premium on gold of over forty per cent
and, except in the event of an effort on the
part ofspeculators to advance the premium
unreasOnably here, there is no reason to
suppose that the Government gold will be
thrown upon the market The amount of
gold now in the treasury is over $97, OOO,-
600, of which 81, 900, 900 belong absolutely
to the Government, which is a sufficient in
dication that very little, If any, treasury
gold has recently been put on the market.
The receipts Of gold from duties on i'm
ports have materially fallen off of late, and
do not exceed from S2,OO6,OOO to $4,000
900 per week; and the increase of over
$4,000, 900 Of treasury gold in the last week
shows there has been no diminution in the
amount by sales. iHErg 70 81 =.
The New York Tribune has the follow
ing paragraph in its money article Of the
9th inst:
There is a good demand for money on call at
per cent. and less rates are wholly exceptional.
In commercial paper there is no Improvement in
AAASH VI snort Dllis sell wa
I, but there Is very little currency or ordinary
bills such a. represent the great mass Of com
nercial transactions. From merchants there is
but one report and that of stagnant trade and
deficient collections. The present low quota
tons, which have already inflicted fatal losses
upon traders do not tempt ready-mOney buyers
who are confident that still lower prices must be
paid as the winter wears away, The only firm
securities are Federal stocks. which are justly re-
garded as wholly trustworthy so far as regular
income & concerned, and a safer deposit for
capital than any local property whatever A
great multitude of Spectators and traders on
borrowed money are looking to Congress to sup
ply the means Of freeing them from difficulties
which are only the result of using legal tenders
to suppress the rebellion instead Of resorting at
an early day to taxation. The present stagna-
ton in trade exists and increases with the enOr-
nous sum Of 1854 100000 of currency sahOat,
against S2lO,0O0,00O prior to the rebellion.
The existing financial troubles eanpOt be
cured by issuing currency. A slight reae-
tiOn might be produced, but It would be i'm
succeeded By deeper sleep than
81 now settling upon commercial affairs.
The advance in prices. and the consequent
growth Of unreal fortunes was a pleasant pro-
cess while it lasted, but natural laws soon eff
Iected cure, and payment for the errors Of the
past must be made. Losses Of $50 per hogshead
pm sugar, and SIC per barrel on pork will readi-
Iy explain why-with warehouses full Of sugar
and Pork-the notary cannot be kept out.
The New York Commercial Of the 7th
inst. says: 'The report Of the Secretary of
.he Treasury has excited not little unea-
Iiness upon the question of finances. The
message has produced a very decided lack
IF confidence in the future administration
IF the finances, which appears likely to
nature into formidable opposition to Nc
Culloch's official course"
NeilPs cotton circular gives the follow
ng statement of the receipts, exports and
took of cotton at all the ports, up to the
'4th Of November, compared with those Of
asst year and those of the late crop year
1878, the total Of which crop amounted
o 3,l140OO bales: