Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-11-23
FINANCE AND TRADE.
FINANCE.
OFFICE OF THE DAILY APPEAL, I
MEMPHIS. November %. 1859,

MEMPHIS, November p, 1859.
The general features Of the money mar
ket have not materially changed during
the week. Currency has been close at &
few Of u discount houses even for the
purpose of moving cotton, while for Other
purposes it has been ont of the question
to find accommodation. This stringency
is general. though j in some cases the sup
ply Of currency is in excess Of exchange
and the demand for the latter has been so
pressing that they rave in many instances
cut the rates materially. Cotton bills
have been taken at a wider range than
usual-say from ss@% discount-check-
ing at parGL discount, but on Saturday
and to-day buying rates were more uni
form at "A discount.
The money stringency is not confined
TO Memphis. New Orleans, st. Louis and
other cities are suffering equally as much
as we are in this respect, and the pros
pect for ease is considered remote.
Local scrips are steady with a fair de-
mand from taxpayers. City balances are
selling at S5c in a small way, and dealers
buy at SS@S4c. Scrip proper is scarce. A
Jefferson street dealer bought $1,000 to-day
at S5c.
County Warrants are quiet. The de-
mand is mostly from dealers, as the tax
books are not yet opened, and persons
who have applied to pay their indebted
ness have been unable to do so. The
counter buying rate ranges from 6i@65c.
Selling at 67@65c.
Gold has been lower his week, and the
canse assigned is the agitation of the sub
jeet of a return to specie payment. Very
htsle of the precious metal comes in for
sale, while several ordsrs are held for
small amounts, and dealers have bid &c
over New York rates, but are unable to
fill. 1t closed in New York to-day at
1861. the lowest point it has reached since
May, IsB6.
Tennessee money is moving very slow
w. Some demand has existed during the
week FROM taxpayers, who wanted to
make 4 tender OF it te the State, but we
could learn of no large sales. We quote
it nominal at 65c buying and selling.
The COMMITTEES appointed to visit Nash
vile in the interest of our merchants TO
Ray before the Legislature the facts Tela-
dive 10 the present tax upon merchandise,
will leave for that city on Wednesday or
Thursday. The committee consists OF
some Of our most prominent business
men, who will use every honorable means
20 secure the abrogatiOn of the tax as it
now exists.
A meeting of the Chamber Of Commerce
took place yesterday. The proceedings
will be found in our local columns.
a statement of the eOndition of the
United States Treasury shows the balance
OF gold on hand to be one hundred and
fourteen million dollars; the amount Of
outstanding gold certificates, t~hirty-tBO
million dollars; leaving a balance of
eigSty~twO million dollars in gold; the
balance Of ~greenbacks on hand, eleven
miiliOn dGiiRTs.
II is said thai a project is on foot in New
TO start = bank with twenty mill
aions capital, for the sole purpose OF dis
business paper, - under the
present system Wall street SPECTATORS
sure ordinarily accommodated to the eXclu-
sion Of the mercantile community.
Tennessee Bonds have been dull during
the week, and Old have declined. No
sales were reported in New York to-day;
59c was bid and 5g14c asked. New sold
at 52Ec. Governments at the close were
luo,sd as follows: