Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-01-20


the day at SOC and cold at 52G Sc. Union
and Planters Bank notes commanded $40
SIC, and we're held at S5c. Southern bank
notes sold at the advertised rates.
Tennessee bonds cold in New York on
the 18th inst as follows: $4,000 ex. cou-
pons at csc; $4,000 at 66lc; and 81 900
at 65@c. Virginia bonds sold at SOC, and
North Carolina bonds at 54@54lc.
The Banking Committee of the House of
Representatives had, up to the 18th inst,
received two hundred memorials. mostly
from the West, against contraction Of the
currency.
Treasurer Spinner has adopted new regu-
lations for the cancellation and destruction,
and theperpetuation of the evidence thereof,
Of national bank notes. The notes, when
redeemed by the Treasurer, are to be
stamped with the word Cancelled upon
the face. As often as once in three months
they shall be transmitted to the Secretary
Of the Treasury and the Comptroller Of the
Currency, who, after Punching the name Of
the President and Cashier, the notes are to
be burned to ashes in the presence of four
persons to be appointed By the Secretary
of the Treasury, one by the Comptroller
Of the Currency, and one by the banks or,
if insolyent, by the Receiver. Certificates
Of such burning are to be signed by the
parties so appointed, and fled with the
respective officers.
II must be considered somewhat surpris-
ing that the impeachment MISTER has had
such an extremely small effect upon our
credit and upon the price of the bonds in
Europe The circumstances were known
there about az soon as they transpired here,
and We judge by our cable dispatches that
the London journals have discussed them
very generally. And yet during the time
the matter has been before Congress, 5-2Os
in London have only fallen fraction Of
one per cent. from the highest point which
they have reached. In fact they are now
higher than they were before the meeting
of Congress-higher by two per cent; and
the advance which took place after the re-
ceipt of Secretary McCulloch's report has
hardly suffered check. 1t seems also by
adyices from Washington that instead Of
these bonds being sent back here from Eu-
rope, as reported, the demand for them on
foreign account during the past week has
been quite active. We suppose that this
steadiness is owing mainly to the fact that
it is not believed in Europe the impeach-
ment business will come to anything.
They regard it as simply movement for
party purposes, involving no other than
partisan results.
The New York Tribune of the 10th inst.
says "Wall street Is quiet, and operations
are wholly controlled by brokers and the
large circle of professional spectators
brought into life by the financial ope-
rations of the treasury in connection with
the rebellion. Successful beyond expecta-
ton by shaping their dealings in harmony
with the movement of the treasury, while
it was expanding the currency, and with
it the prices of all communities, they are
now attempting to repeat their profits by
opposing the treasury, and by ooEnbina-
tons attempting to defeat not only the de-
partmeut in its course toward solVency, but
the natural basis of finance The waiting
fortunes o: the trading community, the
stagnstion In manufactures, the declining
tendency in wages, and the constant scramb-
ling Of banks to keep within the limits Of
the law upon their reserve, are alike lost
upon them, as they pursue course which
can have but one ending. The shares Of
transportation companies, unproductive Of
income, are steadily moving from bad to
worse, may, throughout the manipulation
of the street, be temporarily forced to higher
prices, but the reaction will surely be fol
lowed by lower rates than have recently
been touched The street was never so
heavily loaded with unproductive stocks IS
collaterals for loans on call, and the foun-
dstion has been laid fol- panic as fierce as
has ever ragged In that stormy region"
The stocks of Rio coffee at the several
importing ports at the latest dates we're as
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