Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-01-10

Gold ia New York opened to-day at
1889 and closed at The same. Exchange
was steady.
W. quote gold at 18I@I345c buying.
Selling at 135@I36c, with some demand
from the interior.
City bonds are rather frmer to-day.
One Of our banks holding q $50, 0C0 order
for delivery in Baltimore at 493, was IN
able to buy, except in small amounts
and make their commission. We failed
to hear Of more than one or two small
transactions to-day, which were made at
prices ranging from 4si@4s49.
We learn hat parties interested are
making a strong effort to impair the
credit OF the city upon the street, bat SO
far they have failed to do 80.
City Scrip is quiet at 75e buying.
Selling at 7Sc.
County Warrants are in some demand
at 75c. Selling in n small way at 7Ss.
Poliea Scrip Is firm at g4S95c buying.
Selling at Csc.
In the New York Chamber Of Com
merce, on Thursday, an important de-
cision took place upon the means Of
returning to specie payments. Mr.. A.
A. Love, the President OF the Chamber,
introduced q resolution favOring the pur-
chasing and canceling Of greenbgeks at
a gradually reduced premium, and the
funding Of the public debt 1t a lower
rate Of interest, and msde the following
remarks He said that, according to the
Constitution, the only power Congress
had ia the matter was 10 c1iu money
and regulate the circulation thereof but
the wal conferred a necessity that could
not be prevented. Paper money il a de-
parture from the aulhOriz ID standard,
and when Congress assume II il should
at least regulats its value, but this it has
never done. Paper currency has 10
fixed value. He said that we can now
pass from the paper currency to that of
specie without the danger or difficulty
that is generally imagined. During the
war our people were accustomed to hear
English friends say that the South
could never be L jsgatei, bat the result
has proved that their prophecies were
chimerical, and it viii b3 demonstrated
cur financial crosksrs also prophecy
Ia vain IN regard TO an early return to
specie payments safely. The legal ten
1ers should be redeemed day By day, and
.bus with q gradual contraction all dan
gers can be avoided. The only question
hat remains to be answered is, how rap
dly shsll the contraction take place. In
my result banks aud niividuals must
AXE care Of themselves. The malsdy is
znown and IL remains for Us TO apply
he cure. Our circulation must hsve
,oin IS q basis. A financial plan com
pretending both paper and coin cannot
YORK h-arn0niOusly together or last long.
Morton, Mr.. Lowe said, had re-
,0rted that there is thrss bundled million
Of gel in the country. This is
q error. The expectation OF gold, as
veil ss locking il up, is inpoverishjng
he country, and will ere long bring insn-
ial ruin il a cure is not speedily applied.
Il did not believe that there is more
han two hundred and dfgy million doll
srs Of gold TO perform all the functions
( trade, and the only wonder is that 1t
be kept at 1856 when it 10 considered
hat We are constantly sending it ou5 Of
ne country. J. B Chittendsu, 10 con-
snding Tor q motion to refer the resolu-
ions to q committee, made q vigorous
paech in favor OF a speedy return to
Decie payment by set Of Congress,