Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1866-12-30
FINANCE AND TRADE.

| Gold seems to be very unsettled Tn
following are the New York quotations G
yesterday: Opened at 1888, advanced 10 1874
at 1880 declined 1929 at 2. NJ, and close.
at 1885 st4PM. The rate here was lSI
buying and 1SS selling
We have no quotations Of goyernmen
securities.
Business was very dull indeed, yesterday
among our bankers. There was scarcely
anything doing in uncurrent money.
Bank Of Tennessee was bought at 4Sc
Planters Bank was firm at SIC buying, and
SSe. selling. Union Bank notes were 10
good demand at Soc buying, and SIC sell
ing.
Southern bank notes were very dali, and
difficult 70 sell.
Nashville corporation checks were duh
at l2o discount
Tennessee bonds were quoted in New
York yesterday at 69c for both ex. conpons
and the new issue
The steamer Lookout, which sailed from
New York yesterday, took out 20 Europe
$6S,6OO in specie.
Secretary McCulloch denies that he is
forcing gold down by heavy sales. Its de-
cline, he maintains, is owing to natural
causes. It may be added here that since
the decline in gold the conversion of 1905
has almost ceased.
A Washington dispatch of the 9th says
that the treasury detectives had obtained
possession of one of the most dangerous
counterfeits in circulation. The note is
fine imitation of $50 legal tender, with
the vignette Likeness of Alex. Hamilton,
and is an exact counterpart of the genuine,
except some slight errors in engraving.
The easiest way to detect eounteFfeits is by
observing the marginal line of figures run
ming around the back of the note. In the
lower. left hand corner will be observed the
figures $500 instead of $50" as on the
genuine. The mark is quite plain and will
insure detection Of the counterfeit. A large
number of these notes are in circulation.
Trusting the general appearance of the note
will not avail, as the most skillful have
been deceived by it.
The Washington correspondent of the
Cincinnati Enquirer says in his dispatch of
the 9th inst, that the Secretary of the
Treasury has no policy in regard to the
sale of gold, as has been intimated in some
quarters. But little gold has been sold
lately, and that only under general orders
issued months ago. Sales of small quanti-
ties, for comm ercial purposes, may be con-
tinued from time to time in future, but
only under the same general orders. Mr..
McCulloch's opinion is that gold will re-
main in staple at from $50 to l35 for some
time to come. He has no intention of
forcing the market and is content with
merely avoiding Panics, and operating to Sc
cure stability. The receipts of gold in the
Treasury during the current month are very
unusually light. No extraordinary expen-
ditures have been made, and the balance at
the end of the month will show gold in the
Treasury vaults about SSOOO0,0O0; certif-
Gates, $4,000, 900; total, $96,OOO,OOO.
The latest quotations for United States
5-20s, in London, by the Atlantic cable was
724. In New York on the 9th inst. these
securities were quoted at 1851 in currency,
but on that day gold touched 1919, which
gives 80.13 as their gold value. Thus these
bonds are worth 1853 more on the dollar in
New York than in London or anywhere
else in Europe. We mention this to show
the danger to which our commerce and cur
rency are all the time exposed in conse-
quence of foreigners holding our national
bonds. The difference in their value abroad
and at home will render it occasionally
profitable to send them here for sale. That
will, of course, take gold out of the country
and rob our currency of its life blood-thai
is, after we shall have made it convertible
into specie at sight That is, if such thing
should ever be done Whether Congress
will do anything to remedy this evil re-
mains to be seen.
The London Bankers' Mdgosias furnishes
The returns of the circulation of the private
and joint stock-banks in England and
Wales for the four weeks ending the goth
Of November These returns, combined
with the Scotch and Irish banks for the
same period, and the average circulation of
he Bank of England for the four weeks
ending the 7th Of November (the nearest
late furnished by their returns), as COM
pared with the month ending the 18th of
November, 1856, show an increase of 81,
$50, 227 in the circulation of notes in Eng
and, and an increase of 81, 2s9, 539, in the
circulation of the United Kingdom. On
the above with the fixed issues
If the several banks, the folloAing is the
State Of the circulation: The English pri-
rate banks are below their fixed issue Gl,
81, l68 the English joint stock banks are
below their fxed issue 9269, 073; total be-
ow fixed issue in England, Fl, 1924.
The American Exchange and Repislc makes
he following estimate of the probable gold |
md silver product of the United States in
1866:
~ OOObU
1900 900
Montana 12QO0OO0
IDAHO 100000
oregon 100000 |