Daily union and American. [volume] (Nashville, Tenn.) 1865-1866, 1866-08-26
MONETARY And COMMERCIAL
OFTIeE or THE UNION AND ANeRIoAS, ?
-. !. = - D. -

SUNDAY. August Is. 1866. !
The downward movement in gold continues.
The following are the New York quotations Of
yesterday. Opened at 1473%. declined to l473z
at noon. was 1475E at p. ", and closed at P 81.
At l47. Our dealers were paying 1915. and
selling at 49,
Government Securities are quoted as follows:
SOS. 1857 @l0s3S; coupons, 1ll3SG1l15S: second
and third series. l0oj49l0S5z l04Os, 1922 {@l025z;
1905 IO5}za 1853. Liverpool adyices Of the 2ith
quote 5-9ls at7OH
There is q slight Improvement in Bank Of
Tennessee notes, and they m=y be quoted as firm
at Ssa3ge. buying. We heard Of sale Of S75.OO9
yesterday at 40c. Union and Planters Bank
are unchanged.
Southern money generally is in but little de-
maud. and rates are as heretofore
Nashville corporation checks are dan at zoe on
the dollar. We understand that the gentlemen
who recently went to New York to negotiate our
city bonds have returned without having accom-
plished the object Of their mission.
GROcERIEs-Transactions in this department
have been about the same as yesterday, and
some Of our grocers report an improved tone in
the market for all the leading articles.
FLoUR-Ths demand for new continues unabat-
quotably higher. The old grades are running
low, and almost entirely neglected. We quote
superfne new at SO 5O@1l 90; extra, ST. 500
L 50; family, $l39l4 and fancy 81 5O9l5 90;
superine old, 81 5000 co.; extra 5000; family,
SO OO9u 50, and fancy sll 5O9l3 90.
Wharf.-The receipts have been large, and the
offerings were readily taken at 81 1902 20 for red
81 gOa2 10 for Mediterranean; 81 l5G2 20 for
amber and golden chubb. and 81 25@23O for white.
BACoy--The demand continues good, while
stocks has been materially reduced, causing a
perceptible advance in prices, at 2O92O1zc for
ribbed sides; 2l1z9222sc for clear Sides hams.
plain, 2l92215; shoulders, 17@lse.
COFFEE--Continues in fair demand, with liberal
sales. We quote common to good, 251z92714c;
good to fair, 21Jz92s1Ic; fair to prime, 2993Oci
and strictly choice, 32c.
SUGAR-The market continues quite well
tanned for all grades. The stocks are gradually
reduced, and hardly equal TO the demand. Prices
rule very stiff. We quote Cuba. l3149l41Zc; Porto
Rico, 159l9lZc; Demarar, 17@ls1zc; New Or
leans. lS91s1zc; C extra, 171z91Sc; C yellow,
l614@1S1{ B coffee, l89lSlzc; A coffee, lS14@l9c;
standard hards, 2Oc.
SALr--The demand continues very brisk, and
stocks have been somewhat reduced. Seven
bushe barrels are held at 81 50.
NALs--A better feeling has been noticed in
nails than for the past few days, and prices close
firm at IS 90 for 10 DIS to 40 DIS. with . cents ad-
ditionnI on each smaller grade.
CANDLEs--The demand has been quite active,
with considerable firmess in prices. We quote
star, light weight, dc; summer mould l5lIgl612c,
and parafne 4O945c.
BALE-RoPE AND BAGGING.- -Bale-rope, 2 yard,
25c Bagging 2 yard S71zc.
LIQUORs-There has been very little demand.
with small transactions. We quote Whisky,
Bourbon, q gallon So OO94 50; Robertson
County 81 7595 90; Common 50 25@2 so;
Brandy French s. COOS; Catawba Brandy $5@6;
Ginger Brandy $685. 50; Apple Brandy $4@5
Peach Brandy s. 1905 Is; Wine. Malaga, 81 500
s.; Wine. Sherry, 81 5O95.
On the 18th. inst, there were 1856 National
Banks in existence, with an aggregate circulation
Of $SSS, 4O3,775.
The influence Of the Philadelphia Convention
upon the financial affairs of the country, far as
anything has been developed upon which to base
an opinion, has been of high and beneficial
character and this fact which is daily gaining
more prominence in the minds Of capitalists is
just what the Radicals seriously object to. As a
consequence, they are industriously circulating
any amount of false insinuatons. Upon the
subject, the Philadelphia Ledger, in alluding to
the subject says
The delegates to the Convention recently in
session in this city having spoken out so frankly
and fully in favor Of the full payment of the |
national debt il is little humliatlng to hear |
and read insuuations at the North to the effect |
that the Secretary Of the Treasury does not con-
slider the Government bound to redeem the $40 |
bonds in coin, and would be disposed TO act that
governed letter
the law TO pay only the interest in gold regarding
the principle as payable in currency. There is no
reason to believe. from anything that has been /
made public, that the present Secretary Of the /
Treasury holds any such views. On the contrary, 1
we learn that he has given unqualified assurance |
that he entertains the same opinions on the sub |
ject expressed by his predecessor in office, under L
whose administration of the department the |
bonds were issued. During the sale of the origi- |
nal $50 loan this same question rs TO whether
they would be paid in coin or currency was agl-
tated and the then Secretary, now Chief Justice |
Chase, being applied to, answered, substantially,
that II had been the constant usage OF the depart
ment TO redeem all coupon and registered bonds
forming part of the funded OF permanent debt Of
the United States in coin, and this usage had not
been departed from. All Treasury notes and 1
other obligations forming part of the temporary |
loan are payable and will be redeemed in United /
States notes, until after the resumption Of specie
payments, when they also Will doubtless be re-
deemed in coin equivalent notes. The 90 |
skies being payable ~ enty years from date, /
Though redeenabe after FIVE years. are consid-
debt, and so also are the twenty years SKIES. IN
10 which the three years 73O notes are cOnyerti-
bic. These bonds. therefore, according TO the |
usage of the Government are payable IN com.
The three years 80 Treasury notes are part OF !
the temporary loan. and will be paid in United |
States notes. unless holders prefer conversion to
payment. This avermeHt by the Secretary was
received at the time as conclusive and by AL OF
the more intelligent dealers in and holders OF
the bonds has been considered as having removed
all doubt ou the question; and there Is now no
good reason that we are aware OF TO regard II a.
an open one.
The New ork Times of the 2lst in referring to
the buoyancy which chaIactcrizes United States
securities, says:
The announcement Of the payment Of five per
cent deposits In the Treasury, and the suspicious
result and declaration Of principles Of the Phila
delphia Convention, impaired more confidence 70
the funds and greater ease and steadiness to the
money market than we have known since the
termination Of the war. The seventh and eighth
of the Convention, both unanimous
~ sanctioned by the Southern representation,
are especially important in their relation to the
public credit
IMPORTS AND GOLD PREuUN.-AmOng the caus-
os of the high premium Of gold is, says the New
y ork Herald, the heavy amount Of our importa-
tons from Europe. The extent Of these may be
inferred from the following official report of cur
imports Of textile fabrics from England, for the
first six months Of the year mp to January 30,
which is as follows:
Cotton fabrics, yds 4795S,So9 242O22l7 6, S67O9S
Woolen 1861 l53 l,ll0,953 3.l4,3S5 /
Worsted " S5.352.220 y $4,000 AZ, 466. 342 /
Carpets, " .3S4. 500 462.SS2 2,25l.S 02 |
Shaws and rugs No. 1896 1892 5S,S03 |
Cincinnati Market.
by Telegraph.
CrNCINNArI August 25-Flour in fair demand for
trade and fancy brands at Sl0Gl3 the lower grades
dull at SS@9. Wheat in light supply, aud firm at
81 IS for No. new red and 81 SO for No. mixed. /
Oats dull at Sac for No. new, and BE for o. old.
Whisky unchanged and firm at 81 d for duty