Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-10-16
I'd and Sd series

London advices Of the 18th inst quote
United States 5-2Os at II 5-16.
Tennessee bonds seem to be classed in
New York as fancy stock" The daily
sales are generally over one hundred thou
sand dollars, and generally a great deal
more than the bonds of all the other States
combined. Tennessee bonds sold in New
York on Friday as low as 611c. This may
appear low to those unacquainted with the
finances of the State and how the money of
the people is spent, but the New York
capitalists and others who watch these mat
tiers closely, are predicting much greater
decline in our bonds, and some are fearful
of the total destruction of the credit of our
State. The report of the Comptroller of
the Treasury has not yet been presented to
the Legislature, but when it is faithfully
made it will presents condition of affairs
that will be a matter of establishment to
those unacquainted with the amounts which
have been squandered by the State govern
ment, and it will be appalling to the tax
payers. Since the present State govern
ment came into power, they have issued
bonds to the amount of twelve millions of
dollars, and the annual expenses of the
State government are now but little short
of two millions Of dollars whereas, before
the war, six hundred thousand dollars
covered all the expenses of the State. But
the severest blow that can be struck at the
credit of the State is the proposition to in
demnify "loyaP' sufferers for their losses
during the late war. There will be no
limit to the claims put forward, and no
difficulty in establishing the claims by
abundant "loyap evidence. A board of
commissioners was appointed by the United
States government during the war to ex-
anime into the losses of loyal" men in
the vicinity of Nashville, and before this
board there were over FIVE millions of dol
lars presented, of which one million eight
hundred dollars were allowed, and if this
is a specimen of the losses all over the State
it is very easy to see to what an amount it
will reach. Should this proposition become
a law, our bonds will not be worth over 25c
in the dollar.
Tennessee bonds sold in New York on
the 18th inst as follows; $4,000 ex.
coupons at 64se, S3O,0O0 at 64ac, $1,000 new
at 637c, $4,000 new at 64c, $1,000 new, I'd
call, al. 64c, $1,000 Ell. coupons at 641c, s1O,-
900 eI. coupons at 64sc, $1,000 ex. coupons
at 64sc, $1,000 new at 63tc, $4,000 new at
63se, $4,000 new at 634c; and on the 18th,
$4,000 e1. coupons at 644c, $4,000 ex.
coupons at Gao, $1,000 new at 63:c, $1,000
new at 63.c, and S37, 900 new at 63c.
The New York Post Of the afternoon of
the 18th inst says: "The loan market is
easy and without any special pressure either
on the part of the borrower or lender. The
rate for call loans is :, and large amounts
are left on call with certain houses at per
cent. Commercial paper is quiet At former
rates. Some long-date loans for heavy
amounts are reported to haze been Eegoti-
ated at per cent. interest in gold"
The result of the harvest Of 1867 through
out the world is topic that will interest
both dealers and consumers. In our own
country we all know that the harvest has
been plenteous; the wheat CROP being as
large as it ever has been, the corn crop
larger than it has been since 1861, and the
other grains and cereals having yielded
we'll. This is the result when the entire
country is taken as a whole. In the British
Isles, says the Boston Journal, the weather
this season has been unusually variable.
There has been much more rain than has
fallen for many previous years. The gov
eminent there makss no returns of the result
OF the harvest but the London Times has