Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-01-12
FINANCIAL.
OFFICE OF THE DAILY APPEAL,
MuarprrTa January IL ls6g.

OFE-lLE Or AlE4 JAIL n EhA1r
MEMPHIS, January II, 1867. J
Gold has met with another slight de
| cline since our last, and brokers to-day
bought at so to Sic.
Silver is scarce. Brokers offer y t.
28e.
City scrip continues very dull. Brokers
buy at IS t, SIC and sell at 90 to 6jc.
County warrants are in fair demsnd-
buying at so to 92c, and selling at 50 tc
= Exchange is yet quite dull. Banks
buy at to of, and check at par to of.
In uneurrent money we have no
change to report. The want OF currency
prevents SPECULATION, and brokers only
keep on hand enough for their immedi-
ate wants. We do not alter u quota
tons. They will. be found correct A.:
Bank Of Tennessee, SOC /; Bank Of Chat
tanooga, q Bank of West Tennessee,
Is; Union Bank, 50; Planter Bank, 5 U :
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,
50; Southern, %.
RoNDs.-State of Tennessee 6's, long
loan, g2c; Memphis city bonds, with
coupons for 1861, zoe Interest coupons,
45c; Memphis and Charleston railroad
bonds, soc; Mobile and Ohio railroad
bondsC Gle; Mississippi and Tennessee
railroad bonds. 65c.
We learn that authentic advices from
Hamburg have been received, which
show that United States government Sc
curities are much in favor in Germany
and will be sought after at advancing
prices, if no political incident should
- 30 hi. nrnLlfp a~HnHInnRn .. the
stability of6Ur Institutions.
The rumllr Of an ~impendir conflict Of
authority between the dit %nt branches
Of our government Rve O~ccasioned
some hesitation abrQs (as to the perma-
hence of govern nent responsibility.
Were such doubts removed, nothing
would prevent our bonds from reaching
par, and even a high premium. Pcliti-
cal uncertainty here is the main Of
the low price of our bonds abroad. No
doubt is en tertaiued Of our ability and
disposition to pay the entire debt. With
admiration foreign nations have wit
messed tho payment Of two hundred
millions or more in the first years after
the cessat on of the war; why, then,
should United States six per cent. bonds
be quoted in London at Il, while COnsOls,
bearing only three per cent. interest,
bring over 80 in money? The difference
against the American bonds Is caused
solely by the apprehension that the war
now wageC by the distructionists against
the executive and the judiciary may
ultimately, and perhaps at no distant
day, result in a disruption Of the gov
eminent.
As to the financial questions which We
have TO notice, confidence is felt in the
fact that they will not long embarrass
us. We can Withstand, for 4 time at
least, the Injurious effects of crude, loose,
and unenlightened legislation respecting
taxation and the currency. We can
surmount the obstacles of = fifty per
cent. tariff and Of a paper money system,
which takes bread from labor, while it
aecumulatss fortunes for spectators.
The LOSSES attending a civil war can be
repaired, but the loss Of our constitution,
with its checks aud balances, would be
i~rrevocable. The dangers that lie ahead
are seen in time 10 be avoided, and much
confidence is felt that we shall avoid
them.
Gold and Cotton Report by Telegraph
NEW YORK, January II, 10 a.m-Gold
opened at 32s.
1880 a.m.-Cotton quiet and steady,
341 to See. Gold, 324.
1890 p.m.-Cotton unchanged. Gold,
53I.
$50 p.m-Cotton more active, 34l to
36c sales 1000 bales. Gold, $50.
4p.m.-Gold closes at 81.
LONDON, January II, noon.-5-20s, %.