Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-08-15

! -fe" AOih tS1seioo3 q foHV"e's
| IS of 1881 IiI3
5-2os of 1852, lst seriss..... .-....-....- ll3H
/ Obs of 1864, ID Series-.----.---..--.--- llO5
! sos Of 1865. Sd series .-e.~~.~~.----- r No.
5-2lS new issue, .-.-..-.- luz
lD-fiS ...--..----. -----------.'---- w.
1 .I-3s LIST series ~
/ 1905 I'd and Sd series-..-.....----.- t0l5
London adviees of the 18th inst. quote
United States 5 20s at IA.
The new 5-29s were bought BY the deal
ers here yesterday at lOSk@lOsl. Small
bonds commanded 4@1c higher.
There was little more activity yester
day ia uncurrens money. The demand
however, seemed to be confined to certain
banks rather than to speculation in uncur.
rent fulds.
Corporation checks were bought by the
brokers yesterday at 169 lse discount, and
sold by them at l4t915e.
The New York Financial Chronicle Of the
10th inst. specnlates upon the fall business
as follows:
The autumn trade opens with suspicious
prospects. Nature has done for the coun-
| try all in her power, and on every hand
I there is the promise of comparative abund-
snce. 1t may now be regarded as ettled
that the yield Of the grain crops will sur
pass that of all former years. The acreage
placed under cereals has been unusually
large; the crops have been everywhere
healthy the weather in all sections has
been favorable to harvesting operations, and
a large portion of the wheat is already Sc
scured in good condition. These facts lay
the basis for healthier and more active
commerce than we have enjoyed for some
years.
But it is not alone in the West--our nat
ural granary-that the season has proved
SO favorable. The South also sends the
most cheering accounts, AM. it is, We think,
this abundant yield of field Products in the
South that must have an especially bene-
fetal effect upon the Northern markets. In
very material respects the present condi-
tion of the Southern people varies from
that of year ago. Last year the cotton
States devoted a very large proportion of
their land to the production of their chief
staple. The yield of corn and wheat was
far below the wants of the population, and
large supplies had to be purchased from the
West. At the same time, the cotton crop
was a failure to great extent, and after
refuuding the loans to factors and buying
the necessary supplies Of breadstufs at
| famine prices the South had very little
wherewith to purchase manufactures In the
Northern markets. This year, the position
| of affairs is reversed. In each of the
Southern States the crop of cereals is very
/ abundant and in some of the larger States
| far beyond precedent. There is a certain
prospect of the South having a very large
surplus of grain for export, which will con-
| stitute an important element in its ability
| to supply its want of goods. This year the
cotton crop also gives good promise of more
| closely approaching an average yield. I'm
| der these circumstances it seems reasonable
| 10 anticipate that the purchasing ability Of
that section of the country will be but lit
| tie if at all, helow that Of former years.
At the same time, its wants must be large.
| At the close of the war its people were COM
paratively destitute of goods; and since
that time large proportion of the proceeds
Of its crops has been swallowed up in re-
pairing the devastations caused by HOSTILE
ties, in providing implements and restoring
buildings and roads; so that most rigid
economy has been enforced upon all classes.
They have not yet been in position 10 re-
new purchases of Injuries and of costly
manufactures; indeed, have scarcely been
able 10 supply themselves with the plainest
necessaries of comfort. After such pro-
traeted economy, and with general abund-
ance of products, it is to be anticipated that
| the South will purchase in our markets this
fall much more freely than during any OF
the last four seasons. Northern merchants
will regard the large agricultural yield OF
that section as insuring the ability of the
people to pay their debts, aud will conse-
quently extend to buyers from those States
ample credits which will naturally enlarge
transactions. Before the war, the pur-
chases of the South in the New York mar
ket we're generally estimated at one-thiId
of our entire sales of merchandise. Since
the war, they have been comparatively in
significant. Perhaps it would not be over
sanguine to estimate that, during the pre-.
sent season, this branch of trade will closely
approximate that of former years. The
planters and the trading classes cannot be
expected to buy so largely as before their
impoverishment by the war; but on the
other hand, the large negro population
must be much larger consumers OF North
ern products than formerly. There will
be change in the class of goods required
but the aggregate value, it would seem
should border closely upon that Of former
times.
1t is early, as yet, TO Judge of the pros.
poets of the foreign demand for our pro
ducts. The latest accounts represent th'
weather in England as unfayorable to har-
yesting operations such are the daily re
ports by telegraph, and the letter of ouI
London correspondent, published to. day
indicates more fully the damage already
| done. and the fears felt But perhaps i
may be safely estimated that the yield il
Great Britain will be about an average one
and Judging from the latest mail adyices
no more favorable expectation can be en-
tertained respecting the general crops 0
Europe. From France we have many
complaints. With their only average crop
in Europe, ayeaage prices for breadstutf
may be expected, in which event our larg
surplus of grain would yield a handsom
return. Upon this question, however, dat
are so imperfect that estimates must b.
made with wide allowances.
There some diversity of opinion as t
! the probable supply of merchandise for tn
fall season. To the present dage the i'm
ports of drygoOds have beensstrietly mode
rate, importers having contracted their or
ders after the heavy losses upon the larg
spring importation. The trade ia this elias
Of goods opens with considerable conf.
aence among the importers but the fact 0
fair prices being realized upon the earl.
sales may induce large second orders
causing glut at the close Of the season
and consequent losses. In general mer
chandise the imports have thus far beer
, upon a scale probably fully equal to Il
: wants Of the markets. Upon the whole
however, it may be assumed that pre-
sent supply Of foreign goods Is moi out 0
+ proportion TO the probabilities Of the de
mand.
Our information as to the stocks Of do
} nestle goods would lead to the conclusioI
that there is no probability of any seaTcit
! being developed, The manufacturers hav
= recently psrtially suspended production
but in most cases they have taken tina
course in consequence Of having actSmu
lated heavy stocks. The New York agent
of Eastern mills show a disposition to al
TEMPT an advance in prices upon any symF
| - &c .ot;vss- IN tho demand Int tn