Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-04-05
FINANCIAL.
OF THE DAILY APP

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Gold was bought to-day at a decline o.
&c on yesterdays sales. Brokers ofei
but 33c.
Silver has almost disappeared. Trivial
sums are mostly offered for sale. Buy
ing ATS to 27e.
County warrants are heavy at So to SIC
buying. Selling at IS to soc.
City scrip is not saleable al yer 65e.
Only a few Of our brokers show q dispo-
sition to buy.
Exchange is in moderate supply.
Eastern Is bought and sold at unchanged
rates. New Orleans buying at OFF, and
sold at par.
Uncurrent money IS firm, but trsnsac-
tons are light.
Bonds are nominal at our quotations.
| Memphis and Ohio railroad bonds, Is to
Zoe; Memphis and Charleston railroad
bonds, IS to roc; Tennessee bonds with
coupons, 40 to soc; Tennessee bonds,
new, So TO Soc Mobile and Ohio railroad
bonds, so to 55c; Memphis city coupons,
so to CSC Memphis city railroad bonds,
50 TO 60c.
One, two, three and hve.cent coins are
now in circulation. The old three-cent
sbinplasters are almost entirely out of
circulation, and the 6ve-cent shin
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| departure being the occasion of but few
regrets. Now is the time, therefore, for
a raid upon the ten-cent notes, and if the
financial authorities take into attentive
consideration the policy Of substituting
ten-eent coins for these notes, they Will
greatly oblige the community. It will
be an extension of the specie basis, and
will give the public renewed hope that
the end Of the nineteenth century may
possibly witness a return TO gold and
silver.
The business of the office of assistant
treasurer in New York, March %, was
as follows: Total receipts, So, ISIS, $50 48,
Of which 1853, coo were for customs
gold notes, 1884, COO payments, S5,3l9,-
993 4S; balance, Sl09, $50, $40 40.
Little has been heard for some time Of
the project for establishing a coinage
which should be common for the whole
of Europe. The notion originated with
the head of a branch of the French de-
partment OF finance and in so far as
the plan had taken shape when it first
came under public notice, 1t was pro-
posed to use the French coinage both in
gold and silver-Or, more properly, we
suppose, the French standard OF value
and the imperial decimal system. No
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would resign the power of utteriqg it,
own coinage. But there might, proha-
bly, be established, by an International
convention, a mutually corresponding
set of coins Of equal intrinsic value.
Where the rush of travel 10 and fro
across the boundaries separating the
middle states Of Europe is greater, and
the commercial exchanges are the most
valuable, the embarrassments arising
from Uncurrent money are endless and
p~erplexing, as every traveller knows.
The trouble is especially familiar to
nearly all Americans who visit the con-
tinent. Unless q strikes a route where
there are banking agencies in the hands
of countrymen of his own, his disburse-
ments are often fearfully increased by
the endless varieties Of loose coins which
comes into his hands, which depreeiate
at every exchange. Any continental
system of coinage which, aside from its
denOminatiOnal character, would lessen
the means OF swindiing now afforded,
ought to be hailed with great delight.
1t may be expecting too much TO look
for a uniform system as the result of one
or half a score of conventions. But
even before reaching anything like ALSO
Lutte uniformity, some advances, tending
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might be made by International confer
ences.
One of the officers of the Bank of
England said, the other day, that :" in
all its dealings with the United States,
the bank bag meyer Lost q dOllar by an
American" The largest "piece of pa
PERI ever discounted by this bank was a
bill for $500, 600, and the largest amount
in one day was 22, 800, 600. This was
during the panic of May, 1866, when the
whole city of London was rushing TO the
bank for relief.
A Washington special Of the LIST says:
Efforts are mixing to depreciate the con-
ditiOn Of the treasury Tor speculative
parposes, and quotes part Of a circular
sent to Europe by a New York house
with that view, but this correspondent
learns from the highest authority that 90
far from the treasury being involved
prospectiveiy in difficulty because Of the
extent of its maturing obligations, the
prospect is precisely the reverse.
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