Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-03-10

I
the banks here at par, and sold by them al
premium.
| But little was done in uncurrent money,
and we heard of no change in rates. Bank
Of Tennessee. was quiet. The nominal rates
were 25e buying and S2e selling Union
and Planters bank notes were unchanged.
Southern bank notes were very dull, and
in bat little demand
Nashville corporation checks were dull
at Zoe discount
Tennessee bonds sold in New York on
the 9th inst as follows 81, 900 new at 64c,
$1,000 at 634c, $4,000 at 64c. and $4,000
ex. coupons at Csc.
The New York Herald says the fact of
the rates of foreign exchange being below
the shipping point for coin, and the equally
important one that the Treasury holds
nearly forty millions of gold more than it
held year ago, are beginning to engage
attention now that the political excitement
of the last few weeks has qnieted down,
and the prospect of Impeachment has lost
its terrors. Moreover the extreme abund-
anee and cheapness of money in Europe
are considered sufficiently favorable to an
advance in American securities abroad to
Justify the calculation that further consid
cradle shipments of these will be made,
Notwithstanding that it would be, perhaps,
better for the country ultimately if the
contrary should prove TO be the case. These
considerations, combined with the general
expectation that there will be no political
trouble a. Washington, are potent in in
auencing the reaction from the recent ex-
treme advance, which we pointed out as
being in advance of public opinion at the
time.
One of the numerous problems offered to
us by the European financial history of the
past year is the condition of the money
market. 1t is curious to contrast the rates
of discount at the principal monetary cir
cles of Europe Amsterdam, Berlin, Brus-
sells, Frankfort, Hamburg, London, and
Paris. At Amsterdam the year 1866 opened
with per cent discount rate. In the
second week of the year there was an adj
vance to 6k per cent, but in the eighth
week there was fall to 6, and in the elev-
enth to 81. In the 18th week the rate went
to 6, and in the 10Th to g.. In the 9th
week of the year it further advanced to Z,
sinking, however, to 81 in the 32d, 6 in the
SD, 81 in the 39th, in the AID, and AZ in
the 51st week. Berlin commenced 1866 with
a discount rate of Z per cent, which sunk to
6 in the Sth week, advancing, however, to
Z in the 10th week, and to 9 in the 10Th
week. In the 29th week there was a fall to
Z, in the Both week to 6, in the sd week to
5, in the 44th week to Al, aud in the 5lst
week to T. At Brussels there were very
few fluctuations They may be summed up
as follows Commencement of the year, 5
per cent; 9Th week, 4 Doth week, 5; 22d
week, 6; 33d week, 4 and 38th week, 3;
At Frankfort the rather more numerous
fluctuations were Commencement of the
year, per cent. I'd week, z; Sd week, 81;
4th week, 5; 9TH week, A 10th week, A
18th week, Al 10th week, 5 10Th week,
6; 10th week, 7; 26th week, 6; 33d week,
5; 34th week, 4 41st week, AZ and 46th
week, 81. At Hamburg there we're no
fewer than thirty-one changes in the rate
of discount during the past year. In the
first quarter the fluctuations were from AZ
to per cent; in the second quarter from
81 to 81; in the third quarter from 81 to
81; and in the Sd quarter from 81 to Al.
At London the year opened with discount
rate of per cent, which fell to Z in the
9Th, and to in the 18th week of the year.
In the 18th week the rate rose to z; in the
18th week to 9, aud in the Goth week TO 10;
This rate continued till the 33d week, when
it sank to 8, declining further to Z in the
94th week, in the 35th and in the 36th
week. 1t afterwards fell to AZ in the 39th
week, in the 45th week, and 81 ia the 5l5t
week. At Paris discount was kept within
very moderate bounds In 1866, the year
commencing with per cent, from which
there was fall to Al in the 9TH week, A in
the 9Th week, 81 in the 18th week, in the
10th week, 81 in the Both week, and 3 in
the 35th week.
The New Orleans Price Current of the
9th inst reports the receipts Of cotton at
the various ports up to the latest dates re-
ceiyed there at 1,S66,2l4 bales The in
dications now are that last years crop will
exceed 100000 bales The Liverpool
cotton market yesterday at noon was re.
ported dull and heavy, with downward
tendency. Middling uplands were quoted
at lS5d and Orleans middling at l3sd.