Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-09-21
FINANCE AND A
FINANCE,
OFFICE OF THE DAILY APPEAL, I
MEMPHIS, Se~pteInbersl 9, 1855. ]

OFFICE OF THE DAILY APPEAL.l
MEMPHIS. SepteInbersl9, lsss.
Our bankers report this as a dun day, in all
respects. Money is comparatively easy, and
all legitimate short time paper is taken at the
usual rates.
Exchange was not 50 freely offered to day al
though our banks are al ~abundsntly supplied.
Cotton bills are taken at Acdiscount, and mer-
camille bills 90 all points North and West 1t
par. Selling 81 1850 premium on the East,
and all other Northern and Western cities al
&c premium.
city Bonds are quiet. Several lots are held
at 500, and some Ohedngs were reported during
the day at 4sLc, but we eould learn OF no
sales.
There are orders on the market for Missis-
sippi and Tennessee bonds and stocks, but
other railroad securities are not in much de-
mand.
city scrip Is hrm. Dealers buy at 7lg7lc.
Selling at 7e975c.
County Warrants, in small sums, are in de-
mand, but large Warrants are not taken by
brokers, IS there is very little call for large
pieces. Where sums suit, they are taken at
9955c. Selling at 5s96Oe.
Police Scrip is IN active demand, as taxes
are falling due. Dealers bay at s9Gs2c. Sell
ling at S59e0c.
The New York Stock Board quotations were
at noon to-dsy as follows: Old Tennessee
bonds, 69l4 new, 694. New Yolk Central, lSl5-
Erie, 49,.
Gold, in New York, opened at 1890 and
closed at 1850. Outside a few small lots, we
could hear OF no ssles. Dealers buy at l42G
l42Lc. Selling a: 143Sl43zc.
Many OF the statements put forth by Radical
politicians relative TO the amounts OF the ma
fional debt, and the ordinary expenditures o.
the Government, display the very sublimity OF
impudence. Although they must know that
detection is certain, they continue TO promul.
gate them as irrefutsble truths, trusting that
they may pass current until after the election,
or that some may read aud credit their state
ments, owing 10 the fact that they never see
the contradiction. Weare glad, therefore, that
the New York Journal Of Commerce has conde-
sceuded to notice Ons of these good enough
Morgans" in a crushing manner. and to pre-
sent an array Of figures, derived from Republi-
can sources, which furnish 8 complete refuts.
ton ofitsstatements. Senate TruEbuu might
ind better use for his flank than the circuls-
ton OF fsisehoods:
Under frank Of Senator Trumbull, ofIlhnois,
we have received for notice n copy OF a cam
paign document pRrpOrting 10 give the " nngn-
eial issues OF the campaign It's SO full OF
MEASUREMENTS, some sheer Inventions, and
other gross misrepresentation, that it seems
hardly worth while 10 attempt a TefutstiOn in
detail. 1t opens with a statement that % the
public expenditures under MIR. Ruchanan's ad-
ninigtratI0n for the hscsl year ending June 50,
IsS0. were 81. 4sZ IOE p in Eoiu.1 This is true in
one sense, but II conveys a very erroneous i'm
preston. There fell INTO the Treasury $685.
EIANA III AAAAa4A1 JIG " III kh6 AONAN teen
millions were paid on in The course OF the
year. The total disbursements were IS follows:
Civil 6,l4s,6.5 Il
Foreign inJeTc0urse----.----...-..-.. l,i63,d7 Is
War Department---------..-------.. l6,4 1857 10
Navy Department-..-.-.--.-.--.. Il 5l8lEO Ig
Interior Department---------- 3,s55,6SS 70
GUo1e,0yI %
Principal etc pubHc debt---.-.... r.5tS62S Sc
Total So. 1914 p
The miscellaneous Included between eight
and nine milnens 10 make up a deficiency in
the psSto1dce revenue, but the total for the
public oebl, most Of IL to pay principal, was
sbeut one-iourtAo OF the whole sum. Toe doc
ument ADDS in the next line Howell Cobb,
then Secretary of the Treasury, IN he same re-
port from t0hich these figures mere taken, estina-
ted the expenditures for the h,czl year Guiding
based upon a condition Cf peace, and included
about three millions OF dollars for interest on
tue public debt" Here the writer acknowi-
edges that he had the official report be lore him,
and he actually pretends to take from IL a sup
posed estimate for ~tRtereSt, but ooneesls the fact
that SO,624, 600 was included 20 pay on a former
.oan, and was IN no proper seDSs \ part OF the
years estimate OF expenditures. The whole OF
he cost OF the Tor that year was
estlmsted al S68,fTS,7Oi Il, Of which One-quar-
terAs outlay was actually incurred when the
estimate was compiled.
This is a fair specimen OF The way The whole
pamphlet OF twenty pages is made up for poItt-
Ia effect. We have not noticed Il, however.
Weteiy -9eXpoSe a partisan falssEood, nor even
oeOAOsst contains an article quoted approv-
~greeenb8ck paymeL+ (which we TrgTat 10 - ",
ssen la SompSnyl oH. hecause we do not wish
the Psople 10 become accUalamed "a The ioaa
that The present s-xtTavagant O0uiSvs for carry
ing on the administration OF national aTairs
bear any reasonable relation TO the eXpenII-
ture in y iser times for the same purpose. The
totals Of &" ordinary expenses" when Include
everything but debt and loans, are thus given
IN the official report Issued al WASHINGTON
under the highest Republican authority, and
We commend this statement TO the eomBilgrS
OF the 10. I document, and nope It will be IN
NnE NhE NV ~