Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-03-26
FINANCIAL.
OFFICE OF THE DAILY APPEAL

OEAAAA II - r 4
MEMPHIS, March Is. 1857. I
There has been no new feature pre-
scented In local money matters to-day.
Gold ruled steadily az 80 to 334e, at the
latter figure n large lot was purchased.
Silver is very scarce, aud Is offered only
in small amounts. Brokers buy at Is
to 26c.
City scrip is lower, with small demand.
Brokers buy at y to T4e, and sell at rs
to 7Sc.
County warrants are dull at IS to SOC
buying. Selling at 80 to 93.
Exchange is in active demand, with
little offering. It opened at premium
selling, but advanced to before the
close. Our banks buy at par to pre-
MUM.
The Tennessee National Bank.
We alluded to this institution in our
Sunday mornings issue, and have been
informed to-day that the affairs OF the
bank will be placed in the hands of a
receiver.
1t is unnecessary to state the causes of
this failure, further Than having become
involved in the maelstrem Of our state
politics, the strife for spoils between con-
tending factions hastened the natural
consequence Of a banks departing from
. u AHEAAtAn1AC Un1AlEoaa
AS we before stated, the loss will not
fall on the depoSitOrs OF the bank, and it
remains to be seen whether those who
have been arrogating to themayves not
only all the loyalty, but the control and
management OF the affairs and interests
of our people, were justified in placing
go large an amount as the SCHOOL FUND
in such a bank without ample security,
and whether the securities will be held
responsible for whatever losses may
accrue.
NEW YORK, March 25.-Weekly bank
statement: Loans, S259, 450, 3l5-decrease,
So, 762 657; specie, 50, 143, 9I3-a decrease
OF SS24,SO9; circulation, 80, 5l9. 4IO-in-
crease, SOS, SIS legal tenders, $50, gO4, sos
decrease, 81, 908, 0Sl deposits, SI92. S75,-
8l5-decrease, Sos, SIS, IS9.
During the month of February there
were 50, 436 claims registered and briefed
by the second auditor, st Washington.
The number Of claims settled was IS,02s,
embracing Sl4, 993, 996 2S.
BANKRUPT ACT.-A Washington cor
respondent of the Commercial Advertiser
says IL is proposed to pass a joint res
OlutiOn declaring hat the bankrupt act
shall not take effect until after the first
day of December next. This action is
] VI ca 1N n4ahI IA MS VIII VIII DllEI-
wise be forced into bankruptcy, and will
be unable, under the act, to provide for
their confidential creditors.
INTERNATIONAL SYSTEM OF COINAGE.
A treaty has recently been concluded be-
tween France, Belgium, Italy and Switz-
erland, agreeing upon a uniform system
Of coinage. The French minister re-
Gently communicated a copy of the
treaty to our government, and called at
tentiOn to a clause in the treaty which
provided that any other nation may Join
in the arrangement. Mr.. McCulloeh, in
his reply to the communication, ex-
presses a hope That the conditions of this
monetary union will meet with some
notifications, in order to unite the lead
ing nations of the world in u system Of
international coinage. The New York
Tines says :
owe trust that this subject will con-
tinue to command the active Interest Of
our government, and we trust tEJ
great changes will not It first Be at
tempted. The two following easily eff
fected alterations would be OF great
value
a.. Let all the gold and silver coined
by the agreeing countries be of q specific
and Uniform dneness. Il is no great
mOulSHL WueLueI Inc stduuaIu du0pleu
be that OF France, England or America.
"2. Let the unit in the monetary sys-
tenn of each country be decimal of that
in all others joining the scheme. It
would be easy to establish an equality
between the English sovereign and the
American half eagle, as well as the rela-
tive equality of the French franc and
our dime or dollar-the franc being made
equal with two dimes, and twenty-frane
piece with four dollars.
1.-THE effect of such changes as these
in simplifying exchanges and accounts,
and in regulating financial transactions
between the great monetary center and
commercial countries Of the world,
would be very great"