Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1870-10-17


Improbable considering the suggested terms
Eof peace and the bold aspirations OF
that even a settlement between
and France would contribute
&much toward the restoration of conf
Edence in Europe. The course Of affairs
Hin Europe, therefore, seems quite likely
Mo favor steady foreign demand for our
Esecurities and the retention here of Eu-
6ropean balances seeking temporary EN-.
Enjoyment. The growing prosperity OF
Hthe South also has very important
bearing upon the prospect. Each year
III is largely increasing the supply Of its
products, and is rapidly re-
recovering its old position in our foreign
Atrade. Although it is yet early to make
ldefnite estimates of the cotton crop, yet
b may be regarded as safe to place the
Bminimum yield at $500, 900 bales, crop
us 100000 bales for export;
(which on the basis of u pence psr pound
6would yield about $3.50, 900, 600 in gold.
xThe new crop is now beginning to go for
Inward quite freely, and the supply ofbills
Iirom this source is calculated to keep
Exchange, henceforth, at comparatively
low rates.
Regarding the premium on gold, the
tsame circular says: AT present. the
Hchief fact sustaining the premiam is
the comparatively light supply upon the
market and its oversold condition. On
the first of November, however, abont
&S25, 000,O 900 of coin becomes payable on
Xaccount of interest on the public debit
Sand now 81 1000 900 of Government gold
Bis placed within reach Of the market BY
8the offer of the Secretary of the Treasury
TO prepay with rebate, the United States
3 per cent. bonds of 1871, due on JAM
Huary |, 1871, Throughout the country
Hgenerally there is a strongly conserva1
4tive feeling growing up relative 10 pre-
8parations for the resumption Of specie
$payments. The country is rapidly rel
Towering its material prosperity, and the
Jfnancial resources of the Government
1are. strengthening; and It is to be ex-
Hpected that as this wholesome tendency
Xdevelopes, the conservative opinion of
= the people will show an emphatic inn
patience at the continued suspen-
3sion of the Treasury on its demand
This sentiment is likely to-
4be reflected in due time, in lower pre-
|mium on gold. and especially perhaps
Haftcr the opening of Congress,
q A New York telegram Of the l4th
8says:
Y The gold scheme went by default to-
Hday, and some parties were free lenders
Hof gold, and effectively broke down the
borrowing rates. They also appeared
: as sellers of gold, which gave rise to d
8 report that there was cheating around
1.-THE board. 1t was stated, however, that
1.-THE squeeze yesterday was only made for
Hthe purpose of discovering how much
Scapital it took to disturb the stock and
8money market.
4 Regarding the general market Satur-
Hdays st. Louis Republican says;
n In flour yesterday the demand was
8chiehy for the lower grades, which were|
8frm. Medium and choice were dull, !
Ibuyers holding off to await the result of
downward movement in wheat.
HWheat opened dull and dragged slowly
Throughout change hours. Inspected
lots and elevator receipts alone sold at
Hthe opening at Thursdays prices, and
Heven these grades fell off lc at the close j
3Corn opened lower, aud, even at the con-
recession, buyers could not be induced to|
take hold freely. Oats were active and
4 lie higher throughout, but the strongest
8demand was for bulk on track" Rye|
3was again lower, and buyers took hold
even at tho decline, Rarley|
1was not active, an advance In the yiewsl
2of holders checking operations. Buyersl
#hnally acceded to a slight advance onI
3the better grades. Holders of hay were|
Hfrm at previous prices, but transactions
swere light, Highwines we're dul and|
Ifully lie lower. In TOBACCO We nate ri
3better demand for freights, and a sale Oh
3reyiews at better prices; other gFadesI
8were steady. Provisions we're dull. TheE
5deHapd for mess pork was sufficient toE
maintain the PRICES, hBt bacon was droop-E
ling, sides selling fraction lower, dl-f
Though shoulders and hams we're main
8tained One of our city packers hasE
commsgeed cutting, and il is reported
that newly SRt meals hays been shipped
] here from Chicago j"
COMMERCIAL.
The market to-day opened with an ac-
tive demand at about the closing rates of
Saturday, but later in the day advancedn
( fully ic. The sales reported up to noopB
comprise 30 bales midaling at l8lc and
"a do. at lSsc, purchased early in the
}lay; also 43 bales middling at 1899, 81
strict do. at lac, 10 shy middling-in7
jcluding 8 bales Of low middling-at 1885
+ strict good ordinary at l3le, 3 low
|middling at l8lc, s middling at l3ic, l2OE
|middling and low do. at lai to l3lc, III
mixed at lac, 40 strict good ordinary and
low middling at lase, Is middling al
|l3lc, making in all over 400 bales. Al
noon the market was firm, with several
factors asking lac for middling. The (
New York market opened firm, and
closed firm at noon at l5ic for middling.
The Liverpool market opened firm, with
sales of 10000 bales, at previous quota
lions. +
Saturdays New Orleans Times says
Regarding labor n
It is most unfortunate for planters that
they have not had a sufficient supply q d
efficient labor TO fully profit by the RECENT
fine picking time. We'hear that in some
localities the fields are not only white
with opened hollis, but the ground as
well, from the quantity blown off by high
winds. A considerable portion Of this
will be lost, or be dusty and sandy if
saved They are fortunate on the other
hand in having escaped the usual Sep
TENDER storm. In the present exposed
condition Of the crop, heavy storms
would do iacaleulable injury. We must
wait for further accounts before We shall
be justified in estimating any increase
in our receipts over last years.
TRADE,
The general trade of ouF city during
the past week has been more animated
than during any previous week this sea
SON. Receipts of produce have been /
larger, and the demand from the interior
for all classes of goods much better. {