Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-04-11
We take the following from the New
Vorlr 7l.Sb,,yas.


We take the following from the New
York Tribune;
Money has been in sharp demand at
per cent. and commission, and accounts
have been made up with difficulty. IL
commercial paper, no change in rates
Best names sell slowly at TtG7s, anc
second grade at Solo per cent. The
bank statements are not calculated &c
encourage the hopes of easy money OF
cheap money, except for balances al
call without notice. Leading banks
which seour the markets to make
call loans upon the last dollar OF
their balances, publish their reports
in a form which makes il certain
| that they are doing dangerous business
which will not bear the test Of the new
form of report. What they state as legal
! tender is largely made up of compound
notes, and they are plainly in no condi-
! ton to see Mr.. McCullooh reduce the
greenbacks or compounds. Like the
stock brokers who now have uPe TO
give daily concerts in the long rGm,"
in the absence of business, too many
young and desperate bank officers are
keeping every sail they can spread to
breeze which at any moment may in.
crease to a gale in which they viii
founder.
The condition of things in New York,
thus revealed, gives little hope of an
improved state of affairs in Memphis
and other Southwestern cities. The
curse Of legislation, the establishment Of
military despotisms in the Provinces,
the reckless means resorted to in Ten
nessee, to retain power, by those who
possess it, the general apprehension Of
further mischief, and the consequent
Encouragement, paralyZe all spirit Of
enterprise, and ensure general depres-
sion Of business aud commercial disaster.
There is no other country in the world,
in which nleasuEfs so insane and suici-
dal would not before this have destroyed |
all confidence and swept away banks
and credit as the hurricane does the I
leaves of the trees that stand in its path. |
Upon our Mississippi States another
terrible disaster has fallen with ruinous /
weight, by the visitation of God, who .
not only still continues to chastise US, /
but means, so far as our feeble intellect .
can penetrate His designs, to make our
and the crimes of the North
that in part cause them, the instruments
to punish that arrogant and guilty North
with a widespread ruin. His rains,
poured lavishly upon the earth, and
swelling the rivers, have inundated the
low lands, preached the levees, flooded
the farms, and destroyed the stock and
the prospect of crops alike. Already the
planters were distressed by the losses of
asst year, and the commission merchants
most of them without real capital at the
were exhausted of means
to make advances. All over
he land lately ravaged by war, starva-
ion is claiming its wasted victims, while
he bells of the North ring joyous peals
,f exultation and Of savage gladness for
,ur multiplied reverses. If the storm of
financial ruin does not soon smite the
wicked land, the lessons Of history have
,ecome worthless, and justice has ceased
o be an attribute Of the Deity. But
History still speaks the truth, unheeded
IS its lessons are, and God is just. still
Ie says, as He said twenty-five hundred
ears ago: Wo unto them that decree
DEGREES, and that write griev ,
usness which they have prescribed!
What will ye DO in the day Of Vista
ion, and in the desOlation that shall ]
ONE from far? To whom will ye flee Z
Or help? and where viii ye leave your
lOry ?u