Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1868-06-28

| INT AatO uOH pau III huCn cases. I0anB TO
stock brokers are made at 1 as the lowest
but general rate"
The New York World of the 9th inst
saysi1 tsaE sHn Hsaas1ah
The banks hold to-day less than s.. OOO.-
600 in specie, and the customhouse de-
mand, say $2000000, and exports ST.
6OO,OOO, makes drain Of $1,000, 600 per
week on this reserve. Comment on these
hgures ID unnecessary. New York banks
holding about SIS, 000, 900, while the banks
of LOndan and Paris hold $500 .O0O, 900 in
specie, are pOor preparation 90 The part
OF the United Slater for buying and selling
for gold, when the new gold act Of Con
gress permits this 10 be done. The impOr-
lance OF the new gold act does not seem 10
be appreciated. nor its consequence fore
seen. 1t is practically virtual abroga-
ton Of the legal tender act. II permits all
the United States, If they choose, to resume
specie payment al once, aad to 10 precise
y as California is doing add always has
done in regard 70 the legal tender act,
namely to igRoFe il. Ia order 10 DO this,
however, our banks must have an Adequate
reserve ofspecie, Say a minimum Of S25.-
OOO, 900 to $30, OO0, 600, in order TO respond
TO the wants OF the business community as
they gradually avail themselves OF the
new gold act to buy and sell for specie,
The 81. Louis Republican of The 18th
inst. says
From the increased breadth OF wheat
sOwn in almost every State, and from tbe |
continued receipts Of the most favorable /
sdyices az 10 its advanced state and SUI
periOr condition, we do not feel that We /
risk much IN anticipating one Of The most
abundant harVests that has ever blesseR
the country. There may possibly be sonie
falling of in the corn crop, but a. fine and
seasonable weather does so much Tor corn.
il may, under such favorable circuusstan-
ces, exceed our estimates. The accounts
which We receive Of the foreign harvest
prospect are 10 less catering than our
own, and il now seems quite reasonable 10
expect abundant harvests in both the old
and new worlds and with this more than
reasonable probability In view, she effects
Of such an event are Of iacalcuIable inter
eat TO us in America. 1
In Chicago, the wheat trade Is 10 the
hands Of clique, and quotations OF rbis
narkei have no Significance beyond indi-
'aling how specnlat6Fs manage a game
bout as crediiabls ss that OF chuck-a-
uek. The Times Of ths 18th aAys.fg i
The market is nov entirely beyond the !
each OF legitimate Influence, and the study 4 :
i foreign or other domestic markets viii i
i've 20 key 10 the tendencies Of the mar
set here, which il controlled abaolalely By :
combination that viii feel 20 hesitation I
n putting prices up or down, save such as b
pring from doubts regarding the direction
3 which IL interests lie We have yet >
cen no indications that the combustion l.
cling o1f 6r next month, and our readers
ieea aot BE- astoRisbed II time develops the =
lei that TIE combination has a stronger
Odd on the market for July THAI il has d,
cen able to obtain for this month, and that
ais corneF will be supplemented By q
mother next month, which will squeeze" a
hort sellers worse than this one