Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-11-28

The effect of the excessive contraction of
the currency during the past year, amount
ing'to more than a hundred millions, is
seen in the prevailing depression of trade
all over the country, and great anxiety is
manifested by the mercantile community
with respect to the future policy of the
government in relation to the currency.
The sentiment of the great mass Of the peo-
pie is opposed to further contraction in any
form, and the West is clamOrous for more
legal tender paper, while the South asks
for more national bank notes in order to
increase the banking facilities in that Sec
ton. In this connection we may state that
the new Committee Of Ways and Means is
Authorization and anti-McCulloeh
The New York Times of the 25th inst.
says:
Although mercantile confidence was dis
turbed last week by an important failure
in the grocery line, and which affected
subsequent engagements in sugars, coffee,
etc, there was notable improvement in
iilC iAuC VI 0O2hCStlC COttOn kOOAb3
business, considering the lateness of the
season, in foreign drygoods, and quite an
active city shopping trade. The export
movement of domestic produce was the
heaviest of the season in bulk and declared
value, and as prices on the produce ex-
change have been brought nearer to the
export orders, by the unwillingness of the
principal receivers of cotton, grain, -four
i A., owso,l Il. Il
the purpose of holding these receipts in
store, we look for another heavy export
this week The receipts of cotton last week
reached "a, 604 bales, the bulk of which
will probably be taken for export. The
recei pts of the previous week were Is, 4l0
bales, and the export ii 1877 bales.
Thsdemand for money during the greater
part of the week amounted in some quarters
to extreme pressure, but on Friday and
Saturday the supply offered for employment
on the stock exchange was sensibly easier
though a reluctance at bank and among
private money lenders to discount merchant
paper was still observable. The unlavoT-
able liquidation Of the estates of one or
two parties who failed a few weeks ago, and
the large indebtedness involved ia the fail
ure of Wednesday last, alluded to above,
have contributed to the caution of money
lenders, and this feeling for short time
will probably be carried to the extreme of
unjust discrimination against really sound
and prudent houses.
The import entries for the past week
amount to 50, 1877 ,684, against the total en-
tries Of S4,535, 092 same week last year.
The export clearances Of domestic produce
amount to 1913, 914, against 81, ,15s
same week last year. The customs Of the
week are 81, 519, 600 The receipts of cot
ton, coastvise and by railroad, are 24.604
bales.
The gold values of the import entries Of
foreign merchandise at New York since
January /. 1857, the beginning Of the cur
rent calendar year, are reported as follows
the entries Of foreign specie being omit
ted:
Total since Jan. % ace ri
Against same date ls65-...-.-...-... n ~, 10
Decrease since Jan. l.--.-..-..-..-. s3s, s93 354
The currency 7alue of the exports Of
domestic produce and miscellaneous goods
from New York, including foreign articles
re-exported, since Jan /, 1867, are as fol-
love:
| Total since jan l---............S1 6s. 454. eO6
Against same date 1895 ............... IN 90 n
Decrease since Jan l..............-. s4.e48.s6
cold. NOV. 70. ls67........--..-. . cent
| Gold. Nov "A. 1855. ......IssZ ? cent
~--S-----------------