Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-02-13

Bank ofCamden--.... % Exchange BanK----j
Charleston .-I5 Farm rs &Ex,ch'ge-~
a. Chester .....-..IOl Merchants CeraW ...-Ii
E" Georgetown Q Peoples Rank..-
" Hamhurg..--i5 Planters " ----.-.
N~ewbury..~.8O PlantrsAM'ch'csB,kI
" s. Carolina 6 South W. Il. R....---l
State Of 3. C-l3 Stste Bank---~------
Commercial Bank. 81 Union " .-..--.--5
GEORGIA BANKS.
Augusta & Z. Co CentrT r. F. BIZ Co.'S
Bank OF Augusta.-...30 City DIX Of Augusta
"a Atbens.4O F'Imirs q M'chics..-..
" Columbus 10 Ga. K. r. & Blk Cox
" Commerce - S Marine Bank.....-.-t
" Fulton--...-.-S0 Mechanics Bank.
" E'p're State-i5l Mrch'ts a PITTS Bk-
81 Middle Ga..-7O Planters Bank.........l
"a 30 TGmb'r Cutt'rs Blk {
" State Of Gallo Union Bank......... 4
BANES.
| Bank Mobile. IS Eastern
M~ontgomery0 Central I'll
" Selma-.----D Northern --a4s
| Commercial Bank. 10 Southern " 81
TESNFSSEE BANKS.
Bank ofChattanoogal5 Merchants Bank -..S
" Memphis par OcOee -.-l5
4" Middle Tennis Planters IS.
" Ten.old is'se- 50 Southern " -.-2l
~ W. Tennis Shelbyville " Isl
] Cit Blk Nashville...-60 Traders 30
Commercial Bank-par Union -~-Fe
LOUISIANA BANKS.
Blk ofAmeTica, prem 10 La state BanR-:=s~&
" louisiana - go M'ch'cs& & Tr'd E B'k.-85
" n. Orleans-..9O Merchants Bank.---e0
Csusl Bank. .--95 Southern BIO prem
crescent City Bank..1
TAT BONDS n COUPONS.
| State Of Tenn Is, long Memphis & Charles
loan -..--..--.s2 ton K Il. B'ds.-..-.75
Aemphis City " Mobile & Ohio K. r.
with Coup'ns for '6l.70 Sterling B,nds=e0
Without Coup'ns.-.-s5 MisS&Tenn.R-R- B'dsG0
The Philadelphia Ledger has the fol-
lowing comments on a scheme for the
benefit of certain banks 1t is stated in
the dispatches that a number of persons
assembled in the city of Washington
have held a consultation with the secre-
tary of the treasury and with the senate
finance committee, and have agreed to a
bill to be laid before congress by which
the government is to be made to pay I
per cent. interest upon the reserve fund
which thelaw requires the national banks
to keep on hand. As the law stands
now, this reserve is required To be COM
posed of United States notes bearing no
interest. In effect, il requires the banks
to keep a reserve of "greenbacks" with
which to redeem their own notes, just
as they were formerly required to re-
deem them in coin, but the proposed act
is so contrived as TO relieve them from
the necessity of keeping a reserve Of
greenbacks on hand, and authorizes the
issue of loan certificates, to be held by
them in place of the greenback reserve,
aud on which loan certificates the gov
eminent is to pay 4 per cent. Interest.
The proposed act authorizes the issue Of
SiO0, 0O0, 900 of such certificates, which
will cost the treasury just 81 coo, 600 a
year. This large sum is nothing more
nor less than a gratuity to the weak d
speculative classes of banks, whose bust
ness appears to be to food the country
with their notes in carrying on their pc
culiar operations. The entire proposition
is lust as absurd and prepOsterOus as it
would have been if there had been a
proposition made ten years ago TO ak
the government to pay four cent interest
upon the coin held in the vaults Of the
hanks as the basis of their circulation.
That such q scheme should be put for
ward at all only Shows how far the whole
sale aud well established principles of
banking aud finance have become IN
dermined, and how thoroughly the peO-
pie have become accustomed to schemes
and devices for speculatiug upon the
public money that a few years ago have
been condemned and rejected III the
strongest terms of indignation,
Mr.. L. NJ. Crane, who has a paper
mill near Ballston Spa, has recently per-
fected an invention that will interpose q
bar to counterfeiting greater than a0y
vet made. He has invented machinery
whereby minute threads Of gutta percha
can be run into sheets of bank note
paper, in the course of its manufacture,
that will be indellible, and cannot be
cOunterfeitsd. He proposes TO offer his
invention TO the government so that Il
can manufacture the paper for all ma
tional bank notes, the same as it does the
engraving and printing. His plan con-
templates making each denomination
differently, as perfectly practical with
his machinery. Thus, n dollar bills
have one thread through each, two dol
lar bills two threads, five dollars three
threads, four threads for tens, five for
twenties, six for %fifties. sever for one
hundreds, eight for ave hundreds, and
nine for thousands. If the government
secures the invention it can be used for
bonds and coupons also.
VALUE OF OUR COPPER CONT will
be seen by the following to what an hu-
initiating extent radica!ism has debased
the stuff they issue and i%mpudeptly call
money. 4 late Pnmber of the American
Journal, of NuSsismatics, gives market
the value of the copper coin now in use :
Originally, the Old United States cent
contained POS grains Of copper, and was
afterward reduced to us, and was valued
at one-huudredth of q dOllar-one cent.
The present copper cent weighs IS grains,
or J 10 of an ounce, and consists OF 95
per cent. copper and ) zinc or tin, valued
at of q cent. The two cent piece
weighs So grains, or one dfth Of an
ounce 95 per cent. copper and 3 zinc or
lin, valued at 10 of a cent. The three
cent piece weighs IS grains IS per cent.
copper, 2Ienickle, if the nickle is 50 per
pound, milking three cents worth 9 10 Of
a cent. The five cent piece weighs
n Is 100 grains ; 70 per cent. copper, %
nickle, which makes the real value only
one cent and q quarter, as the market
value, according to the Journal, Of cop
per beat 49 cents per pound, zinc l3 aud
IA, nickle 81.