Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-09-26

ings Houseth evening resolved to insu-
gurate the New York system OF using
checks for carrency. Certificates of S5OO
each were provided for, aggregating $2,OO0,-
OO0, secured By ample collaterals, this ar
rangement to remain in force till Dec. 1.
A slight run having been made on the
banks of Kansas City yesterday, it was de-
cided at meeting of bankers there last
night, to suspend payment of checks or
draft either on currency or exchange until
the excitemsnt in the East subsidies and a
normal condition of the markets is restored.
london Views.
LONDON, Sept. 25-One hundred and
eighty-five thousand pounds in bullion was
shipped from Liverpool for New Y ork to-
day. The Daily Neps believes the financial
panic in New York viii possibly lead to q
resumption OF specie payment.
The daily Telegraph in another article
on the American cnsis, says it cannot be
too strongly enforced that there is nothing
radically unsound lere or in the United
States. The gest mass of capitalists are
not effected by the trouble in New FORK:
The Neacs remains that In the absence Of
system of long ciedit, material for panics
among American trading houses does not
exist, and believesthe wort is over.
Baltimore BuOyant.
BALTIMORE, Sept. 25-The officers of
the Associated Banks OF Baltimore this
morning resolved in view of the present
financial situation, not to pay out money on
checks except sach as may be required for
legitimate business purposes. The banks
oil Iot,a {ot, ho
in business transactions. It is believed here
that the banks in the city were never in
more sound condition thar now and their
action of noon is recognized as a prudent
precautiOn against any panic. The mer-
camille and commercial interests are ex-
periencing, to some degree, some pressure,
and tightness in the money trade ia very
limited. The feeling to-day, sympsthizing
with favorable dispatches from New York,
s much better than for several days pre-
vious and it is confidently expected that
business will SO IN revive.
Effect ON the Pork Interest.
LOUISVILLE, Sept. 25.-The Courier
Journal this morning contained several
columns of an interview of reporter with
bankers of this city to-day, giving a COM
plete resume of valuable opinions as to
their financial condition and the effect OF
the New York failures on their business.
The interview showed an entirely healthy
and conservative state of affairs. Not
dollar is now loaned by bankers for any
thing with the look of speculation, and the
disposition is to guard depositors to the
extent of their ability. The Journal will
contain several columns tomorrow of inter-
views with leading pork men,
who, having light stocks all
this season and legitimate pleas
al the bank counters have no fear of shad-
ing of their usual business. Many of them
are preparing to slaughter a large number
of hogs. Business with leading whisky
concerns will appear, showing aperfertly
easy feeling, the only change being in
orders from country distillers 20 sell only
for cash.
Views Of the President and Secretary.
WASHINGTON, Sept. 25.-The President
and family arrived this evening and pro-
ceeded to the Executive Mansion. About
8 O'Clock Secretary Richardson called, and
for more than an hour they talked over the
financial situation and came to the conclu.
sion that all aid that could be afforded by
the Treasury, for legitimate business for ths
country, had been done, consequently the
Treasurer will pay out no more currency
than ordinary disbursements. It will buy
no bonds or sterling exchange at present.
They are satisfied they have done all in
their power, legitimately, to relieve the
financial distress by the use of money in the
Treasury in the purchase of bonds. Not one
dollar of the $44, 0,000 reserve has been
drawn By the Secretary, although he repeats
that he will use it to very limited extent
if it should become necessary to do 60, not
for tbs purpose Of initiating the currency,
but for ordinary expenses, with the inten-
ton of restoring the amount as soon as
circumstances will allow.
The Excitement In Little Rock.
LITTLE Rock, Sept. 25.-The excite
ment over the city currency and reported
failure of banks in Memphis, caused un-
usual excitement. Financial matters were
the only topic of conversation. Nearly all
the merchants refused to take the city
money to-day, and throughout the day
there was heavy run on the banks by de-
positols. AS yet they have met every de-
msnd promptly, and claim they can
weather the storm.
Pittsburg I'm Luck.
PITTsBURG, Sept. 25.-It is learned from
an authentic source that three hundred and
fifty Thousand dollars in greenbacks arrived
here to-day from New York and Washing
ton City. Other large sums are on the
way, which are expected to arrive to-mor-
row, and there is we'll founded hope that
the greenback striDgency will be over by
Saturday, if not sooner.