Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-03-03

Tennessee bonds. new..-.................. Go
London aagices OF The % inst qnote
United States 5-2Os at 7Sl.
Exchange on New York was bought at
par by the banks here, and sold at ] pre-
MUM.
There was no change in uneurFent
money. Bank of Tennessee was inactive,
and it may be nominally qnoted at 25c
buying, and zoe selling.
Union and Planters bank notes were in
good demand. The former was bonght at
zoe and the latter at 55e.
Nashville corporation checks were dull
at lOc discount.
Tennessee bonds sold in New York on
the 9th inst. as follows: $1,000 ex-eOu-
pons at 66}e; $4,000 new at 661c; $1,000,
new, at 66c; $1,000, old, at 9Oc.
The New York Journal Of Commerce of
the afternoon of the 9th ult. says
There Is no change in the general condition
Of the money market. The prevailing ease noted
for several days past continues. Borrowers End
no difficulty in obtaining temporary loans on
acceptable stock eoIlaterals at SCI per cent and
upon government securities at SEQ per cent
First class commercial paper OF short date is ia
ken at per cent. per annum discount but there
e not much currency for names offered ut q
higher rate
The currency balances in the New York
city banks are on the increase, and the
heavy balances in the Treasury Office are
being rapidly reduced by the purchases of
the Assistant Treasurer of 7-30s. He
bought on the 10Th ult $4,000, 900, ma
king nearly five and half millions pur-
chased on the 25th and 10Th nit.
In the United States Senate on the 9th
ult., very important bill for the redemp-
ton of compound interest notes was re-
ported by Mr.. Sherman. The Senate had
been thoroughly canvassed, and those in
favor of issuing more greenbacks were so
few in number that no opposition to the
bin was manifested The following is the
text of the bill;
Be it enacted. etc. That for the purpose ofre-
deeming and retiring any compound interest
notes outstanding, the Secretary of the Treasury
is hereby authorized and directed TO issue tenn
pOrary loan certificates, in the manner prescribed
by section of the act entitled An act to au-
thOrze the issue of United States notes, and for
the redemption and funding thereof and for
funding the floating debt of the United states,
approved February 3, 1862, bearing interest at
rate not exceeding per centum per annum,
principal and interest payable IN lawful money |
on demand and said certificates OF temporary
loan may constitute and be held by any national |
bank holding or owning the same, as part OF |
the reserve provided for in sections 81 and 81 OF
hao Of anti A n Of 70 a
currency, secured b. pledge of United States |
bonds, and to provide for circulation and re- |
demption thereof" approved June 3, 1864. Pro-
yided that not less than tWo-iths of the entire |
reserve of such banks shall consist of lawful |
money OF the United States and provided, tur-
theF. that the amount Of such Temporary certih- |
any time outstanding. shall not exceed |
one hundred millions OF dollars.
Sec. 2. And be it further enacted, That no ma |
tiOnal bank shall either pay or receive interest |
on any portion Of its reserve, when deposited IN |
any other national bank, and the compound IN
teTest notes shall not be held or counted as part
of their reserve after the first day OF July next.
This bill is in lieu. of that passed by the |
House, authorizing the Secretary of the |
Treasury to redeem the compound interest
notes with new issue of legal tenders, not |
to exceed SIOO,O0OO 600. The House re-
fused to concur in the Senate bill, and asked |
for committee OF conference. There is
strong probability that the Senate bin will |
be adopted as a compromise, as it will par
TALLY satisfy the inhationists, though it |
does not go the length the House proposes.
The following will show the fluctuations |
of the New York gold market during the
nresent wear.