Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-04-17
FINANCE AND TRADE.
OFFIcE OF THE DAILY AFPEAL,1
TUESDAY, April l6, lSI2.



Acauny scoichman once puzzled satan by
setung Lfsn 10 spin ropes out OF sea sand; II
The tWo-horned gentleman win come 10 Mem.
phls-a place everyday knows he has never
ing sls sen 10 S5 Si@ d9 Sf eT sSs2eiSI I Reaaie in SSfa4Gi.
son street. he would scratch his unhappy
head and fy back to Chicago foreyerl Madi-
son street oday is very paradise for lotnS-
eaters-serene and unrufiied, It glides placidly
down the smooth declivity Of time. Exchange
Is Sun par takinga and premium selling, bat
it's scarce to-day. and one OF the principal
banks shipped currency-for the first time
this season-to make exchange, 20 the amount
S1s0 New Orleans exchange was g on.
Some Union and Planters Bank stock was
sold at par. We heard OF an inquiry Tor
1haIleseon EanI9aa al sc, Win Ses@
lions, as we heard, three days ago OF ouers 70
sell al &c, when no transactions resulted
Thene were inquiries forGayoSo Gas company
buy Gavoso Gas Company stock at 6Oc no
transactions in this case either. A loo OF
south Carolina Insurance Compauy stock has
been on the market some time and no takers.
For Mississippi and Tennessee railway INST
mortgage there were oilers Of SIC, ana for
selling AZ IlQc. CITY bonds nominally Soc.
Pasf-due city coupons. Sc. County warrants
E99Sc selling. Bank OF Tennessee, SSa9oc.
Charleston railroad stagnant at Sic. MisSis-
sippi levee bonds are Offering for hypOtheca-
tiou.
A Manchester circular, Oliernshaw & Jor-
dams. states. after summing up the prospect
i've amount OF the crop now on the market.
"The consumption Of American cotton IN this
country must be decreased no less than 50 per
cent 10 make supply and consumption meet
and tie. and We must have besides a CORE
spending diminuti0n IN American %eansuimp-
tion and in Continental demand, 80 as 70 put
Us with a fair stock 10 meet the uncertainties
OF the next season, and we know by sad expe-
nence how Necessary IL is 10 have a sufficient
reserve OF supply 70 meet emergencies We
may-nay, We must-be driven 10 consume
much more East Indian cottons 10 cOmPen-
safe Tor the scarcity OF American. Scarcity OF
this staple and bad trade may force ~spinners
ON short time The traie NAV hold unfOre-
seen resources OF stock, on which they Will
fall back But all these considerations are de-
pendent on price II Is evident enough that
10 the present time none of them are potent
enough TO control the market Our prospects
q fsuppA from other countries are not 50 good
as 10 enable rs TO face the difficulty calmly.
Neither Egypt nor India are likely 10 give us
the surpins which We At one time expected
from them, and Brazil is the only country
from which We can look for reinforcements-
Our stocks of East Indian cotton are our main
resource TO save Us from an advance in price,
which would be ruinous 10 the trade. As for
short time, there Is nothing in the present
situation which indicates its likelihood for
gpinneE at the present range Of prices. The
consumption OF our own, and the continental
populations has run, and IS running, much
more largely on cotton goods than before,
This is moi 10 be wondered at when we cOnsid-
er the advance during the past fifteen months
IN the price Of wool and TAX as compared
with that in cotton. Last year cotton. ad-
ganeed only - per cent, whilst wool rose ~
per cent and is still advancing. Cotton is the
AAN1EAaA HAAHNaA Al ~ IA AAE OAA ~ - \
fabrics the mos comfortable, and the most
acceptable TO the masses"
The New Orleans RcgBlnle, lamenting the
decreased prosperity OF that city, remarks:
The Of New Orleans Is ~undOUbted-
~ fetIered by want Of capital. There is not
enough cash or credit TO permit the extension
of trade Into new channels, and the system Of
advancing 70 planters the funds, provisions /
and brsadstufs required 10 raise the years
crop, hampers the strictly commercial opera
fions Of the city. The general policy adopted A
10y the banks Of New Orleans Is such as 10 re-
strict the commercial movement and keep
funds locked up an unusual length Of time in
ordinary business Affairs ]
WAsHINGToS, April l6.-The Committee OF
W6ys and Means were in session last night
until nearly twelve O'Clock. They completed
the tariff internal revenue bill. Ihe had an I
earnest debate, and did not seem 10 part in
good humor- -Four pr~otecuontsts Of the COM
mittee viii probably present q bin OF their
own. The to-day placed ginger
root on the free LIST. coEks and cork bark,
manufactured 70 pay % per cent az rdtoreHj
boards 4 per cent al isla0nem5 boards, pianksy
laths, s~cantlngr sparsi planed 2 smOOthed
and lumber used in building Wharyes,
IO n1r cent al rdI0rem. freestOnes, sandstOnes-
granite, and all building ana monumental
stones, except marble . cents per tom all
boracic acid, crude and acetate Of copper are
placed on the free list, which goes into effect
July lst next, Upper leather Of all kinds and
skins, tanned and dressed, OF all kinds, per
cent dd uulOrem Band or betting leather, Span
ish or other sole leather, 81 per cent dd udlo-
rem; On insulated wire Geographic and cleo
ZEN. wOmen's and children's goods, and an
pOplins and delaines, composed
wholly Of Worsted or wool, imported IN a gray
or colorsd condition, 40 per cent dd uGlOnem
less than when ~ cQl0rs- woods and carpets Of
WOOL O reduction Of 8 par cent q1 uqiorems
Rochelle salts, ) cents per pound; saltpetre,
refined or p~arfidlly refined, cents per pound;
-HlzBda and soda ssh, one-fOurth cent per
pound. Under the present internal revenue
law The fraction OF a gallon OF spirits pays the
same tax as a gallon; an alteration has been
made eNemptfug from such tax less than half
. gallon. stamps Of 9 checks are repealed