Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-11-07
FINANCIAL AND COMMERCIAL;
OFFICE OF THE pAILY APPgEs.AALl

MEMPHIs. November 6, 1857, !
wecannot but be aware that most OF the diff
nculties under which the community laDoIs
arise from q general cause-tbe proGresss
contraction Of the currency as shown py VIZ
Observation-Disclosures by the Treasury DePALt
menL. At the commencement OF the cuILen'
wear there were SfRO 0 600 RreenbacEs In circu-
lation, against SS8llO00,O 900 an The Isl OF OctoeSI
1s67 being PRODUCTION Of 5.O01O1 Dul.Hs ~
same uefod Sl65O00O Oo Of seven-thtrties nave
been fnnded into six per cent twenty year soiu
bondE. and by the LIST OF August nS1t II y
p.cfed that the Secretary OF the treasury VIII
have fnrfher reduced the Eresnback circulation
forty millions. leaving s0O1,uJ men out
This Is & large present and pIosPso.Ne IeleS-
ffun IN circulation, well calculated 70 unsettle
mi eg 70 deranRe busiuess and impair credits;
sun the volume OF bank issues and legaltenders
a rot only large, buG, with prEdent manage
all the legitimate wants OF the country and 70
dispel the spprehensions which rest upon the
trading and manufacturin ginterests as a cloud.
OuT ba-ks have ample supplies Of currency,
but are not using Il except Tor the removal OF
cotton choice nameS, a is true, are discounted
occasionally az sac per eent,5ut for the usual
pu p1ses Of trade, Il "A about - dihicul 10 ne
gotta e now a. a. any time dun & the summer
lotion bills are token literally ~ \ %, while
the checklnE rate rsmainsa at par 10 = pr mum.
God 2. ned N New York to-day al 1895,
aud d elined an : by noon. Dealers here buy
silver nominally 2Sg3c, buying.
CITY scrip has not advanced since yesterday,
Ss8SEc which are their Offering rates; selling
There Is some demand for county warrants
in smell pieces, AM brokers pay about SC more
FOR them than for large amouDtS The onarlng
rate to day is 68970c; selling 81 7Oc-
small pon - WArrants are also In demand
bus the offerings are light Buying ct &c; sell
ing at 754S5c
There are no indications OF the immediate
appointment o. - solicitor for the Internal
Revenue Bareau. The probability is that the
appointment VIII be made from the Western
States
English contractors have taken the fob OF
building A railroad nom ~lndiRnula, Texas. TO
San Antonio, and will begin work at once.
This road viii be a great benefit to Western
Texas.
The books OF the Pension Office for the fiscal
gear ending last June have been closed, and
among the figures which the Commissioned viii
embOoy IN his forthcoming annual report are
the following. The number OF new appliRa-
ttoUs for pensions by reason Of army casualties
and admitted during the year was Is 49, ap
plicatOns OF same class FOR increased pensions
lS.9f5 orizinal applications admitted, OF wd-
Ows, orphans, and dependent relatives on ac-
count Of deaths nom army service, B,b61i ap
picltiOns Of this class for Increased pensions,
10 SO The total numUer ofiuvald pensioners,
by reaEO9 o. army service, on the books 81 the
Bureau at the end OF the fiscal year, s0,S02;
number OF widows, children and dependent
relatives entitled % pensions. &2l. Tit
amount pald to army pensioners during the
WaGr was $3.50. us: and the amount paid 10
navy pensioners was 8 lSGL.