Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1866-03-11

aaN va ~ = NNAAa 49,
Il is computed from official data That since
the last annual repOr. OF tile Secretary OF the
Treasury, made on the :Dth Of October last. he
! has reduced the aggregate amount Of tie public
I debt S3ttBUI1, and has paid S2gU0uyOg Of cur
Ieucy interest on the seven-thlrty bonds, and
so Uotsp coin Interest ON gGld-hgaring bonds,
making an aggregate OF currency and coin in
ierest oEsj4,en,us1 paid. In addition to this
! lac has paid all the current expenses of the Gov
eminent. and q large amount of acquisitions
nom the War ana navy Departments, cover
ing war expenditures incurred previous 10 his
/ export, but not before audited and not included
I in the statement Of the public debt. On the list
| OF November his coin balance WAS S5,5j4,SN7 70,
! his currency balance sE,oUJ,5Bl 54-makiug AN
! aggregate 81 aS.1G.57s %. ON March LIST he had
in coin so. 731, l2 y, and currency s~tD-3s2.767 p
making an aggregate Of ellt,UlS.HlJ p Of coin
and currency, an Increase in coin of S2l,lSI.-
lUi 81, and an Increase IN currency Of Sd, iS2,
10 ~ i"i.i Hl"feass 81 money I'D me treasury
Ia gold and currency OF 81. HI da. In brief.
tiie public debt has been reduced S28,U1J,UJ0 since
November list, whilst there are IN the Treasury
over So .JmuAl of specie and currency more than
at the hrst named date, showing an improve
ment in the finances Of the Treasury in the debt
aud credit statement or over 27G,1U,Ugl
There are stll further encouraging features
presented. This reduction Of the public debt is
entirely In the short date Obligatinnsa and inter
est bearing and pialn legal tenders. all OF which
have more or less, al Initiating tendency Gu
November LIST the outstanding seven-thirttes
were saD-oJ,rii on March Isl they were sslS-
p44,tIB, showing a reduction OF scyen-rhirtlcs OF
nearly sl2,U0oluu0. The decrease Of compound
Interest notes during The same period has been
only Sl.lJJ.Utj, while the decrease Of one and
two wears Iced tender nntes has been S24uJtVsr
and OF plain legal tenders 81, III 1876. The legal
tenders Of an kinds IN circulation On the LIST OF
N~OveHuber were cj3, 7U9.6ll on the list OF March
~O05ss4.3l4, showing aGecroase If sE,75,lg7.
These results may be summed up as follows:
Since November lst the debt has decreased
s2g.WHuug balance in the treasury increased
over Sif-l'JtU contraction IN the volume of
legal tender circulation SEl,l&ri91 and cOntrac-
iinu lu short date obligations Of the Govern
ment si2,0JJ,O1O more, The argument is ad-
vunced bN slsillfui hnaucieUs, Judging from the
agflNHI made above. FlHt The process at con-
traction Of the currency can 20 ON without any
of the anticipated evils which have been pre-
dIci"i, the healthy condition of the currency
being a sHlicieut Er0uf Of The correctness oi
these -CfsciffHOJI Commercial
The 81 Louis RepUJEcdm Of the 9TH says:
The money market is moderately active, and
"a fair supply al 10 per cent. per annum for first
Gold was lower to-day, opening in New York
lt 1925. auvaEciQg 10 ld1s, ami closing 20 1875
Bankers paid So 10 lsi8 per cent. premium,
and sold "a d2tf TO 33ls per cent. prem. Gold
has declined D per cent in the lasJ ten days.
We may reasonably EXPECT 10 sec "a reaction be-
fore many DAYS. toidtbearing bonds adVancad
q or cent. tEls mQrping seyen-ihIrieS remain
unchanged Bankers paid va and sold AT S5'4.
accrued interest going 10 seller IN eaelg case.
New York exchange is arm at 10 per cent.
prem buying, and 80 per cent prem. selling.
Union Military Bonds are in demand, 1855
dates are bought at 81 to SiS aud sold at Sj1s
1853 dates par buying, and lU2 selling.
Q-uaIteTuEsIsro' Checks, in sums under si0u
ANA up4aEI, are taken at per cent. discount
sums Of 5000 ana upward are taken at / per
cent discount.
Compound Interest Notes are in active de-
Iuaud.
For quotations see table below.
New York stock and Money Market.
NEW YORK, March &.
MOuey-Easy al 6@3 per cent.
Sterling ENclangc-Dull AZ l051S4l0Sz. !
bold-lrrrgular Unsett' ed and lower; opening /
a. LIE eciIni TO 1871, ana closing at 1915. i
Government StociS@Qgiet and steady.
SiDckS-Neak u. =. Is 5-3D caupGns la2 1857 !
O.. :. jS 1910 coupons gEE; a. =. 7-3js, lst series,
~ do do "a series, g9is; Mo. is 49,; n. c. Is
s. Va. It's O.; NY. G. 9ilE; Erie 81; pfd. -;
Reading ia; NJ. :. 7;E4; G.. =. 761s; n. W. pfd.
~ r. ]. lG54; f. ". Sg1s; Toledo Wah. and
Western 'l-z. |
The Gold msrk6f IS stil dropping. Gold
opened al 1925 and closed At ida. AIG.ey rather
easier. Among private bankers, late ester4ay, |
were put Out at g per cent. the rate
his morning, huWever.is generally : per cent.Ou
stock coiia.4.2is, with exceptions NJ & per cent
pa Governments. Tue h@nGs are dlScnunting
more freely. ON prime paper the rate is Z to s
per cent for good names, stoS DO; for other
grades 40 lU do.
The Stpc& market szhitits considerable spec
liaiivc Interest Erie weak and Ia lower; q
Inference rs paid on cash stock. Governments
are quiet but firm under am advance Of 5-2Ds Ina
L9udOu 10 t3itHGglL. The decline ia gold
however. prevents quotations going up with
.lfe advance abroad.