Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-02-08
FINANCIAL.

OEFLGE VI HE JAIL AEEEhLr 2
MEMPHIS, FeDru sry 7, lS7. J
Gold is still ascending. Brokers buy
at 36c. As usual, when it advances, the
little yet in the bands Of holders il KEPT
cut of market, aud we could learn of %
sales worthy Of nOte.
There IL but little silver TO sell in Oui
market. Buying at % to 27e.
The demand for city scrip Is fair, and
prices firm at zoe buying selling e.
70 TO T5e.
County warrants are bought at 90 t.
92c They are sold at IS to 97c.
There is not much exchange Offering,
aud but light demand. Buying at of,
and selling at par.
Uncurrent money is unchanged.
There is a fair demand by broker f0i
Tennessee money at our quotations.
Banks Of other states are declining
Bank ofTennessee, 45to AZ; Bank Of Chat
tsno0ga, IS; Bank Of West Tennessee,
50; Union Bank, So; Planters Bank, 50
Bank Of Memphis, par Bank Of Middle
Tennessee, 80; City Bank Of Nashville,
50 Merchants Bank, IS; Ocoee, 20
Bank Of Shelhyville, 50 Traders' Bank,
par Southern, IS.
BONDs.-StsUe Of Tennessee 6's, long
loan, 92c; Memphis city bonds, with
coupons for 1851, zoe Interest coupons,
i5c; Memphis and Charleston railroad
bonds, Toe Mobile and Ohio railroad
bonds, zoe; Mississippi and Tennessee
railroad bonds. 60e.
Amasa Walker, of Boston, IL preparing
a pamphlet on finances. He is opposed
to the adjustment Of the nationsl bank
ing system, and makes the following
propositions
/. That the great majority OF banks
cannot survive the cutting Off Of the
privilege Of issue, and that the suppress
sion or 20 many institutions Of credit
will be a heavy blow 70 the industry Of
the country.
?. That this change involves a breach
Of faith, not only toward the banks
themselves, which were invited and
driven into the system, but toward the
states, which were compelled To surren-
der their local systems and the revenue
derived from them.
8. That the contemplated saving Of
eighteen millions Of dollars is wholly
iIlusOry, as the revenue now derived
from the banks. which will be sacrificed
in the change, already exceeds that sum.
1 That Mr.. RsHdall's scheme will
create a most serious imitation Of the
currency, by em~ancipating the bank re-
serve Of ~Greenbanks, and throwing them
into circulation.
5. That it will postpone the resump-
ton of specie payment, by a period Of
at least four years, and make resumption
in all respects more difficult.
s. That a circulation of government
notes, redeemable in gold and silver,
and duly pr0pOrtioned to the wants of
hvr.g1.a, - w.H N --.~Na.,T a-N
has been so proved by the experience OF
the most civilized nations.
Imprisonment for debt is to be abolished
in France.
A bank at Bahia, in Brazil, has been
robbed Of $3.50, COD.
It is estimated that the value of the
goods already received for the great *
position amount to One million pounds
sterling.
Advices have been received at the
bureau Of statistics Of the treasury de
partment, dated Paris, January Is41S67,
in which occurs the following L-.urma-
ton from the Paris bOurse United
States securities have not h~uctuated
much. The 5 Dos Of 1862 closed to day
At STA little higher than On the 10th.
Prices have ranged ron 81, on the lIth,
to ST. which latter figure has been
touched on several different days. This
improvement is explained by the cslmer
temper with which ce tain political re-
ports have been discussed upon the
bourse, the best informed operators being
very well aware of their slender fuun-
dalton. The course OF the market IL to a
great extent dependent on the operations
Of dealers in other European capitals,
especially Of Frankfort.
The New York Times, of Saturday,
says: The new month begins with a
decidedly improving feeling in Wall
street, and with better hopes of the
spring trade among the merchants than
at the Opsuing Of me new yeaE. There
is less fear nr suspense as 70 what will Fe
done at Washington on the currency
aud other financial questions. The
money balances offered on temporary
Ioan among the brokers are daily in
ereasing aud the prospect is that the
distrust created by the panic Of last week
will soon pass away. The rates of money
are all the way from I to T per gent =,
according TO the credits and coilaterals
of the parties with whom cash balances
are voluntarily left on call or &c whom
money is lent pH application. There is
a general agreement to-day that none
is easy and 3 strong 0OundenCs EXPIRE sed
that the currency Is no further TO be
contracted at present or hastily or rigOr
Ously contracted at any time, either
congress or the secretary of the treA,y.
IL Is questionable whether the latter has
really done anything in the way Of con-
tracing greenbacks since the close Of
The old year. His R4st January puOlic
>ctbt statement, to appear in a few days,
E.ll soon show whether our surmise on
this point be correct or not.