Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1872-04-10
FINANCE AND TRADE.
OFFICE or THE DAILY AFPEAH1
Tuesday. Aprfi9, 1872.


ANAN&AAL
Business stiu continues IN q Satisfactory
condition. merchants Of all grades expressing
themselves satisfied. The present spring ADDS
10 the certainty OF our progress, our wholesale
trade being more acGve than ever before.
The efforts commenced sometime since by
Western cities 10 beat Memphis in the race OF
competition with the country around It has
certainly not prevented me amount OF our
trade from advancing. The vacillafiOn OF
Congress on tariff matters proves embarrassing
here as well as elsewhere, but the evil is
chranir and il apDesrs 10 come under that
class of suffering 10 which the rule pphes
AWhGt can't be cured must be endlred-
Now and then a strong expression is heafu
aesipsf lie achicksn sur tina has to be
handled for such trivial sums as zen ana
twenty-five cents; but ike the eels Dy skill
ming. people have got used 70 the nuisance.
ON Madison street to-day there was nothing
10 break up the monotOny. Exchange was an
ample supply; more was on hand than was
wanted al The cOunter-where the rate con-
rnueS 10 be par buying and a premium sell
iuC-and some business in II was done pc
alraenon higher. brokers taking Il az 1885;
none selling; no demand. City securities de-
crease ia favor; long date skies nave quoted
$50. hut there are no takersa at those rates,
ma d Is believed 10 be the coming figure,
County warrants are ia steady demand At
- E Rank OF Tennessee money, $500.
Bankers were last evening served with no
Ieas 5y the oepuiy-Shertu-on account OF
Brown a Co, OF course-not 70 pay their lakes
fa .he city. u is understood that the whole
body, il desired, are willing TO meet and
pledge their lives, their liberties and their
sacred honoE that they viii pay no taxes 10
Almys NcrI YORK Financed Recorder of April
sth quotes tennessee rs, old GO, new % Arkan-
S~ rs funded, 81 Isl. r FITS RR. issue,
55l.; IS NJ. j. r. r. r. have no quotations; =
L. a-.P B.& \. o., 50; IS Miss. q y. Riv, as
Mem. & Char.R. r., y
Specie Resumption.
The Boston Daily Advertiser, in s wel-con-
sidered articleu on resumpuon,take the ground
that the National Banks constitute the most
serious impeachment % a return 10 specie pay
meutS. We quote; The loans and discounts
OF the seventeen hundr and siXty-seyen
National Banks throughout the country, as
Der the return made October = l67l, show an
Increase during the year OF one hundred and
nfteen million dollar, or about one-siNuhr
To this sum
Add bonds deposited to secure circu-
Bonds deposited to secure United
states uepOslJs-------- 6rNnNNV
and wa
AS The increased amounts on which the banks
gre receiving interest compared with last year,
The resources nom which these increased
loans were made are somewhat as follows:
Increase of capital stock-----.-S&JoO0
Increase Of surplus, three per cent
FOR tie wear. beside dividends ma
king Total surplus OF over thirty
per cent, decidedly a good ousi-
r-c-s4ss 0T National Bank notes. 100000
Increase OF Individual deposits. S,0J0-009
I~ncrsase OF United states deposits i4svoaOo
or tbis amount IL viii be readily seen that
fffe rveutv-iour millions of National Bank
uofes are a direct increase Of the currency;
hur what is not so generally understood IS
mis-. rlqf NJ least the nlnety-ntne millions Of
Individual deposits are precisely as much So
and thus. II we deduct nineteen mlllons Of
three Der cent. certificates cancelled, we have
"a clear imitation Of one hundred and four mill
lions. II then, we assume, what Is conceded
bv an dislnterested parties familiar with the
subject. thar the only road TO specie payments
is through contraction, u must De confessed
THAT the experience Of the past year is not en-
couragfug.' The AdUeriSer goes on 70 show
That the National Bank interest forms the
Strongest portion Of the constituents Of con-
qresSmen. and that the latter are not likely TO
f~ezislate contrary to the wishes OF mat inter
aSE Our contemporary concludes tnat DE
fore the return 10 specie payment Two prelm-
suarv questions must be no0untered-HaNe
-rh public. the tOiling and taxpaylng millions,
any interest opposed 10 thai OF tbs National
Pa1t-sa And ii so, is there any agency by
Whirh they can enforce that interest against
me powerful and subtle nnuencesnOW WELD
ed bv these cOrporaUcns?"
National Ranks.
Table oftbe state Of the lawful money reserve
0frhe National Banks Of the Unitee States,
AS shown by the reports OF their condition
at the close Of business on the eth day OF
T.bsrFrze - Per II Of