Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-03-22

oFFIC G. raE nAlI

OFFICE C. THE DAILY APPEAL, I
MEaFHIs, March q. l27. !
Our banks report q suficiency of cur
rency for alllegiSmate purposes. Owing
to the uneasy feeling, however, which
still exists in money circles, even good
names find it difficult to obtain : yo11-
mOdatiOns. Gold rules steady at 80 to
33le buying. IN one instance we heard
OF 34c being offered.
Silver is very scarce, aud is offered only
in small amounts. brokers buy at %
to 2Gc.
City scrip is not active. Our brokers
/ generally4lave as much on hand as they
need, and offer from IS to ice. Selling
at II to 7Sc.
County warrants are dull at IS to SOC
buying. Selling at 80 to SO.
Exchange is very scarce, with a good
demand for sight. Buying at par to off,
and selling at pregliIm.
Uueurreht money has been dull and
l~ifeless. Bank of Tennessee continues
nominal at 25 to SOC Bank of Chatta-
nooga, Is; Bank of West Tennessee,
so; Union Bank, 50; Planters Bank, 50
Bank Of Memphis, par Bank of Middle
Tennessee, 80; City Bank of Nashville,
50 Merchants BanE, 75i O0oee, 20
Bank OF Shelhyville, 50; Traders Bank,
par Southern, p.
A meeting Of our prominent bank OIL
GERS took place yesterday, to take action
upon a question of much Importance,
but as no definite policy was arrived at
we do not feel at liberty to state its object.
One hundred and forty millions is the
amount Of interest which the govern
ment has to pay on its bonded debts,
and most OF ii in specie. The greater
portion of this goesdirect from the treas
ury into the pockets of eastern capital
lists. The west, which pays most Of the
tax, gets the leastOf the interest, leaving
the south out of the question.
The appropriations for the current
wants of carrying on the federal gOyeEnl
ment for the present fiscal year, ana TO
supply deficiencies of last years esti-
mates, foot up S144, 1913, 0S7 and some
cents. This does not include any prOvi-
SION for the payment of the interest on
tn public debt, most Of which interest
is Npayable in gold. The current ex-
pelses of the government at this time
are about three times what they ever
were before in time of peace, and The
interest on the public debt is more than
that of any nstiop Of ancient or modern
times.
The position Of the Franeo-Mexiean
I lOah o Y ~ akALAAA0Ia IL hOA
ers of Mexican bonds who advanced 80
heavily to assist the empire, appear to
have little hope of relief unless they can
fall back on the imperial treasury OF
France. The Courier, a paper pub
lished in the French language in the
Mexican capital, urges that Mexico is not
under the slightest obligation on account
of these loans, because the money hiss
never been expended fOF the benefit OF
Mexico, but for France alone.
The losses by fire in the United States
during the month of January, 1857.
counting only those fires which involved
| a lose OF $50, 600 and upward, amounted
to 81. C43, 600 in February the loss was
$402, 600 greater.
A Philadelphia broker throws out the
following suggestions, which he thinks
would e~ffectually check many of the
losses sustained by wi banks:
l. Divide the board Of directors into
two committees.
2. Let these committees, alternately,
once q month, at least, go to the bark at
8 O'Clock, without notice to president,
cashier or anybody else, and count the
cash.
3. Twice q year, at least, let the whole
board examine the entire assets thor
oughly, and makea detailed report from
| their minutes.
4. Let the discounted paper snd notes
deposited for collection be examined in
part occasionally, without notice, say,
take any day or any week of days, and,
with the "Tieklern in hand, require the
production of the paper prescribed.
5. Do the same with regard to other
securities and investments of the bank.
6. Rotate the individual ledger book
keeper quarterly, by drawing lots, and
if there be no other way of changing the
general ledger boOk-keeper, include him
in the rotation of the individual ledgers.
Z. Don't let any man stay so long in
one position as to become Embedded in
his tracks or unfit for other positions in
the back.
s. Once a year at least insist on every
mans taking a holiday, and while abb
sent put a new man in his place.
g.. Pay employees literally.
10. When you are suRxaAy one is 1iv-
ing beyond his means, advance his
salary or discharge him.