Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-01-20

OFFICE OF THE DAILY APPEAL,
a4r.snurG IQnnng,F ia INT-

Gold declined since yesterday. Bro
kers buy at SIC. But little is presented
for sale.
Silver is 7ered only in small lots
buying at 27Nf0 2Sc, and selling ut soc.
There is only a light demand for city
scrip, and small transactions to note.
We quote dull at 55c buying, and selling
at IS to Gee.
County warrants are firm at SO to 95c
selling.
The demand for exchange is not active.
Our banks buy at to Oft and check at
par to of.
HNaeurrent money there is but little
den" : for banks OF any state those Of
TenhC. G, however, are firm at our
q~uotaPeins: Bank of Tennessee, 55c (;
Bank OF Chattanooga, Is; Bank
of West Tennessee, As; Union
Bank, 20 ; Planters Eank, S0i
Bank OF Memphis, par Bank of Middle
Tennessee, 80: CITY Bank Of Nashville,
50 Merchants Bank, 70; Ocnee, 20;
Bank OF Shelhyville, 50; Traders Bank
30; Southern, %.
BOSDs.-State OF Tennessee SIS, long
loan, 92c; Memphis city bonds, with
coupons for 1861, zoe Interest coupons,
I5c; Memphis and Charleston railroad
bonds, soc Mobile aud Ohio railroad
bonds, SIC; Mississippi and Tennessee
railroad bonds. Csc.
NEW YORK, January 10, 10 a.m.-Gold
opened at 1861.
ua.m.-Cotton firm at35 to30c. Gold,
965 exchange, %,
1890 pm.-CottOn fTmer and IN
changed. Gold, 1863.
2.20 p.m.-Cotton firm but less active
sales to-day, 1900 bales-35 to SEC. Gold,
1861.
2p.m.-Gold closed at 1855.
Ehe Cincinnati Gazette, Of the 18th,
s9Ts: In our money market there is no
il prOvemeuC. It is in all respects de-
diedly stringent, with no prospects of
Immediate relief There is a real
Ibarcity of currency, and bankers are
OF able, if they were ever so much dis
I5Osed, to increase their discount lines.
Deposits have run down to the very
lowest point. We do not think money
has ever been so scarce, except in times
of panic, rs ii is now. Nor have We
ever known good paper more difficult Of
sale. First class names, if offered on the
street, would not command money at
better than l5GlS per cent, and sales
are made at these figures. Bankers dis
count for their customers at 9(Gl2 per
cent, but the value of money at present
is not indicated by the rates. The pork
trade is drawing to a close, and soon the
drain Of currency on this account must
cease. Up to this time So 5000, 900 have
been paid cut for hogs at this point, and
the disbursements in the interior imme-
diately tributary TO this city have been
much larger than last year, because
more hogs have been packed at country
points this season than Lass. II is rea-
sonable to expect, therefore, the setting
In of q return flow of currency at an
early day. With this We shall have an
Improvement in money matters. There
will be other causes, also, working in
that direction. Orders are now here to a
large extent from the south for provi-
sions, which will be filled whenever
navigation is fairly resumed, and buyers
think prices are not likely to he lower.
These orders are s~everally small, but in
the aggregate they foot up more heavily
than is generally supposed. Eastern
dealers are also beginning to think bet
ter Of provisions, and there are indica-
tions OF a demand from that quarter.
Taking these things into consideration,
and presuming that congress will very
o adopt a financial policy that will at
least remove the uncertainty which is
one great eau Z of trouble, it may be
concluded that the monetary stringency
has reached its crisis.