Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-02-23

City Bonds are nOminaily unchanged.
We learn that in New York, to-day, SOC
was asked and 4ec bid, bat in this mar
ket there are no sellers 81 less than SIC
City Scrip and County Warrants are
unchanged. The former buying as y to
75s; selling ct az to 500. The latter buy
ing at Is 70 zoe; selling at 7s to SOC.
Gold is offered very slowly and In
small lots. Buying at 1886. Selling al
l34 to l34ie.
We have no report from New York to-
day it being WashiDgton's birthday ne
observed SIS q legal holiday in money
circles.
On the 2lst Of July, 1858. William D.
Kelley. chairman OF the House Commit
tee on Coinage, Weights and MeSsurfs,
reported q bill 70 promote the establish
ment Of an International metrical sys-
TEN Of Coinage. Toe Secretary Of the
Treasury requested Mr.. E. B. E lott to
examine this bill and give his Views IN
relation thereto. In accordance with
this request Mr.. Elliott has made a very
interesting and elaborate report, which
the Secretary transmitted to the House,
and which has been ordered to be printed.
The bill provides, fret, that the future
gold coinage Of the United States shall
weigh one and two-thirds grsmmes to
the dollsr, and shall be Eine-tenths fine,
that is, zach dollar shall contain one ana
q half grammes OF pure gold, AID ths re-
msinder shall be alloy. Second. Such
coins shall be legal tenders in payments
after 8 specified future date, and SIO03 OF
this new coinsge shall be the legal
equivalent Of one thousand dollars-of
the old coinage Of the United Ststes.
Third. That they shall have their
weights in grammea, and fineness
stamIed upon thsm. Fourth. That sill
yer half dollars and smaller silver coins
shall, IN future coinage, consist OF stand
ard silver, Diue -tenths fine anS weigh
twenty-five grsmmes to each dollar OF
value, and shall have their weight and
Aneness stamped upon them and shall
be legal tender for payment Of all sums
not exceeding ten dollars. Mr.. Elliott
endorses all the features Of the bill, and
sets forth the Importance of its ensct-
ment by Congress, and the advantages
which would probably result tberefrom.
He says the gold coinage of the United
States is very nearly metrical. ny re-
ducing their standard weight about three
parts in q thousand three One-thou-
ssndths, they would be strictly metricsl,
and would thus have exact and simple
relations to the coins OF Germany. Il
seems DESTROYS that the union crown o!
Germany, the United States gold dollar,
the gold franc OF France, and the gold
crown OF Crest Britain, should have such
simple relations 70 each other IA point OF
value that the following equivalents may
obtain, viz Three union crowns equal
TO twenty dollsTs(gold, } equal one humid
red francs (gold,) equsl TO one
thousand pence (gold) or four pounds Of
two hundred and fifty pence each. At
ter referring to the different standards
that prevail, the hope is expressed that
the decision Of commercial nations will
be ia favor Of the German standard, tbst
Is, thirty grsmmes Of fine gold, rather
than the French standard, which is
less, on the sole ground Of
metrical simplicity. We should then
have gold coin IS follows; Three union
crowns, twenty metriesl dollars, one
hundred metrical francs, fourteen metTi-
ga pounds, or one thousand mstricsl
pence, each weighing thirty-three and
One-third grammes Of standard gold,
nine-tenths fine, sad containing thirty
grammes Of pure gold. Toe report con-
tains numerous tables, which embrsce
much interesting and valuable infOrma-
relative to the monetary system Of
he leading nations Of the world, and is
deserving Of the careful Perusal Of the
business portion Of the community, AID
III others who are interested in the sub
set to which 1t ~relates.