Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-02-19
FINANCE AND TRADE.


/ FINANCE AND TRADE
Gold opened in New York yesterday
: 1867, was 1869 at 11:3O; 1865 at 12:3t
s 1865 at p, NJ, and closed at 1865 at
NJ. Dealers here were paying 1875, an
9 holding at 1867.
5 Government securities were quoted
D New York yesterday as follows
5s. coupons. 10S556Il0
2-2s "a series, eoupons,...-.-..--.-. 1890 l07l
9-1s, Sd SERIES coupons ..-..-.,.. lgl 20 l0It
5-z5s, new issue 1857 q l05,
~ w
73Os "a and 81 i655s@i65s
London advices Of the 18th inst. quot S
5 20s az 7S3c.
Exchange on New York was bought b.
the banks at par, and sold by them at
premium.
Unchrrent money was very dull. Bank
of Tennessee was very quiet at 35e buying
But few seemed disposed either to buy OF
sell, though we heard Of $4,000 selling at
80 cents. -E'SaHtF<
| Union and Planters Bank notes were
scarce and in good demand at SOC buying,
and S64e selling
Nashville Corporation checks were dull
at l0c discount. -..f 81 .
tennessee bonds sold in New York on
the 18th inst as follows: $4,000 ex-cou-
pons at 664c and $4,000 new at 65Sc; and
on the 18th, $4,000 ex-coupons at 66c,
$4,000 new at 654c, and $4,000 at 65!e.
Other Southern State bonds sold as follows !:
Kentucky 98e, Missouri 934@93c, Lou
isiana soc Virginia SIC.
The New York Times of the 14th instant
says:
The following bids were made this forenoon at
| the regular Stock Exchange Board for the yari-
Gus descriptions of the Public Funds of the Uni
ted States:
? cent. l867.......l33 500, 500 lOO0....l07l4
~. cent, 6S.......l32 so coupon. 1860. 1919
e cent. coup. '68..132 $50 cOu 'G5 n. iss 1853
cent; reg d. sii. hog Z &c cent reg '74l92
Coup. 500 1000. 81 l09L 40 500 &2OO0-....1Ol1s
30 coup. reg. 80. l0T47 $40 LIST series...l06
coup. small lllotaII I'd .llEt9
$40 500 100. l09127 BIO ID series .1O532
$40 registered, '64lO5
The following is an official statement of
the whole amount of compound interest
notes yet outstanding, and also of the
amount yet outstanding which falls due in
1867:
Whole amount. Falling due in 1867
Interest --.-.- 27,76l,e2l le.350,122
Total. $l7o,s26.56l su9.Oo5. l22
The New York Tribune says: This
amount of notes can readily be taken care
of by the Treasury ifauthority is given to
issue 100000 Of temporary loan at 3@
A per cent The Secretary will have no oc-
casion to move in the matter until called to
meet maturing compounds As they fall
due banks will be ready to accept script
bearing interest, and counting as reserve in
exchange. Any one conYersant with bank
movements does not need to be told that,
for clearinghouse purposes, at least fifty
millions will be used until specie payments
are restored, and the whole S80,0O0,000
will probably become permanent loan as
long as gold is at premium. If the rate
of this loan is fixed at per cent. it will
have another important effect upon the
money market by causing country banks to
hold balances in this scrip rather than
leave them with New York banks at the
same interest. If this should be done cali
loans and discounts would advance in the
leading cities, and commodities be forced to
market and consumption more promptly,
instead of being held on speculation by
large combinations, aided by an abundance
of cheap money. The prospects for
steady and sure return TO specie payments
were never so good as at present. An OBJ
stacle TO resumption is found by some peo-
pie in the fear that the taxes will be re-
duced to point when the annual interest
and the ordinary expenses will not be met.
But this fear is without substantial founda-
ton, as the future will show. The labor of
the nation set free from our taxes will be
more productive than at present, and from
an enlarged business upon low prices the
Treasury will be in the receipt of income
sufficient not only to pay interest and Ordi-
nary expenses, but have a surplus equal to
the reduction of the principal of the debt