Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-09-05
MEMPHIS APPEAL
FINANCIAL AND COMAERCIKL.
OFFICE OF THE DAILY APPEAL.
MEMPHIg Ganfap,ba- Tooo


naSlness Wasdul to-day in all departments,
Dut lnere was Increased cbae-S,lness in mer-
th.-eNIclesi In vie OF the improved state OF
its expected benencent tnfiu-
IN ne growing cotton.
fron - D&ie OF new cotton was received
osrson d Watson.
Va thuuoen decline OF cotton in Liverpool
Forst- suse OF much talk aud speculation.
-. oPsnatoE are doubtless end 10
he 49, prices as they did last year. Il can't
70 any extent.
cbsn.ey matters remain quiet ana easy. Ex-
rates are as follows:
Neu Buying. Selling.
New orleans ~ prem. Pen
81 Louis par
LOUISVILLE par
NeE Orleans dis. psrsR"
and was WeakiAS New York, opening at i4sI
Herr Ga-Is atiA4' With lOsns at l per cent
IT, Nsters booght for export at l<2Sl42h-
"eAknes IA New YORK p caused by the
loan. Ssp'emoeF interest
ny scrip was veal. dealers Offering at 75a,
eCc Is stin the rate generally claimed.
scrip was scarce and In demand.
~ e. scrip was In demand at5ic and solo
Nooc' With an exception OF sO0oat S[c to 3
street broker.
N the market for stocks and bonds there was
interest purchase OF $500 Mississippi
sno tennessee railroad bonds. I'd mortgage, al
reported at one OF the banks. Memphis
oChariestOn railroad stock was held at 55c,
vas aso the nate IN New York. City
~ were scarce. 1t is believed they VIII be
this week. ' s
Asaortume since Secrstarv Mccuuoeh took
sPeeiaI pains 20 INFORM b5siness men and
fssGrsI nat, after the payment Of the
EouId h PGfchase money, the Government
o1sb tsklng his figures 70 De correct, IS he
- knoW, We ask II II would be prudent
wIIIsoaIPt the payment Of about four hundred
SfEnscIsS ape promises with such a reserve
rsPeelss Banks are compelled to keep twen-
~ IrotlPc = I. cen reserve Oflegal henderson hand
TssbnosSsneir Issues; could the Government
- specie payments with less than ten per
ci- riis ~ Lsa well recognized fast in banking
S.Stss Uatln large cities twenty five Per cent
y me loEest average reserve that any instita-
~ ISSUING promises should have on hand,
80 We question IL the Government could Ens-
tain Itself or maintain specJe psyments ia vic
LAlon OF this financial lsW,
5nsNeW York Herald OF the SOth ut says:
ne amount annually Of capital in this cOun-
- - = not and cannot be employed In
business enterprises, but must necessarily be !
c-,,tns "a government bonds, such IS the &C
loone o. estates. trust funds and the !
Sn nl ations ofrstred capitalists Is tncrsas- 1
Ls, ana me time is not probably far distant /
Nhenthei Investments OF this CAPITAL will al
vance the price Of Government bonds nom the |
dnass demand, 10 q point which Will pro
the boDSs ISse eiinteresE, more on a par with
- y Ittie over 3 Per cent per annum inter
us pain that the average price OF gov
GaHehs ponds Is likely to be advanced from
yesI 70 year, from the three above mentioned
Causes, VIZ; The termination OF government Is.
ne REDUCTION in the amount OF bonds
me United States from the absorption
" to1eLsn nations and the annual increase OF
CspllSlto be invested therein.
sSeslmateo that the entire stock of geld in
- cOuntfY a. this time Is only S29,OQ9,000, Of
Shlen sAO90,ue9i Is in the hancs OF the govern
S sh9 s3NN,OQ in the banks. Just
nne.e me oalance can be found is not stated.
ouLLtLs commended esuuption by the govern
ment would bring it out from its hiding plsess
out Is Is vastly more probable that should the
sossLnmshs attempt resumption, its limited
lSsouLceS would very soon md its way out o.
70 oeleloWed by q general panic. Among
aololoefs al nome and abroad Immediate
80 permanent resumption or specie paymeuG
y SIMPLY impossible, and without ne AID Of
ss'eIsL Aodlilonal ten-cylinder printing press
~ - IsSLnent In greenbacks is not among