Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-06-12
FINANUE AND TRADE.

uniuterestiug yesterday, not one change
showing itself ia the situation Of things.
The call for money is small, and general
dullness 3 revails. The following, from
an exchange paper, shows the effects Of
accommodating capital by the century
"Tbe moneyed capital congregsted at
London is immense. Not taking into
account the bank of England, there are
five tanks in London each OF which has
average deposits Of 500, 100000. The de
posits OF The London and Westminster
bank amount to SI5O,OC0, 900; and the
aggregate deposits Of ali the banks reach
the enormous sum Of 81 500, 600, 600"
Berlin, Paris and other places have ex-
perienced more difficulty from the prev
siCnt dulIEess q trade than they like
10 acknowledge, and other nations
are feeling its effects. The London
EcOBCmi6t ssys that an inflated system
Of business, reduction Of prices, heavy
duties on exports, and incon-
vsrtible paper money have pro-
dGc5d a serious crisis in Brazil.
The government proposes to relieve
the difficulty by Issuing more paper
money. The mischief OF this remedy
u the risk OF GggIavating the very
Disi8dy which has helped 10 bring about
the crisis. The paper once issued is apt
80 stay out and lead TO further depTecia-
ton, and the difficulties ia Brazil on
that account have already been enOI-
nous. The danger Of 8 crisis, leading
10 further issues Of paper in such 8 cOun-
tfy, l. very serious. No doubt, it is
stated, that the paper TO be issued will
be q species Of treasury bill, rather than
iECOnvgT.ible paper, SIS the amount is to
bs rep8yGJle al short dates, and the bills
are 20 carry interest not exceeding 81
per cent. But this last provision seems
20 point 10 a new difficulty. We can
hardly uIier-.ald government prom
izigg TO pay interest on money which it
does not really require for its own pur-
poses" Exchange il Cur market is in
active 8. the usual figures, on New York
par Buying and I premium selling; on
New Orleans I discount buying, par SELL
ing. Gold was higher il New York,
quoting ll6E at noon; brokers in Men-
pals offered ll53 TO ll6. We remind
readers that these figures are for gold,
not FOR coins; II 3 hundred worn coins
are brought il, quite below the NOM
insl weight, they are weighed, and the
gold they contain is paid OT according
10 cur quotations. II coin is stamped
zone dollar" and One-fOurth of it is
worn away, its value is only use; per-
sops who fave gold to sell continually
forget this, aud demand to get the nom.
iual value OF tie coin, not the real price
Of the gold. Shelby county scrip was
again 20; for round lots, -. State notes
are unchanged and little doing ct S.
The Nashville Union quoted them st 80,
held at 80, and "quite abundant" The
came authority quotes cOmptroller's
warrants very duh at $50 80, selling at
%. The city IL issuing a new kind OF
city scrip ia payment-or in procrRsti-
pubic debts. What the arti-
Gle is worth in the market has yet to be
determined upon.
THE COTTON MARKET yesterday re-
ceiSed another " black eye" The grow
ing crop news "a so bUOyant, that many
people appear to think the next crop
will be as plenty ss spray on the ocean
waves. All this tells upon prices, and
the kilograms again bring grief to hold
ere and spectators. New York was
weak and kc lower; Liverpool was dull,
depressed, and I-l6d lower. These
caused others; Baltimore quoted
&c lower; Norfolk, &c lower; Boston, ic
lower; these declines, added to previous
ores, are serious in their effects, and our
own market shows their influence by
quoting l4ic against l45c since Tuesday,
aud l5c st the opening of the month !
against 15ic 81 the opening of May. In |
March quotations opened at l5sc, and at |
the close Of the month quoted Ice; then |
speculatOrs were buying eagerly, cOuti- |
dent that every bale would bring them |
zoe. The inquiry was slight yesterday; |
holders were st loss what to make Of /
the state Of things, but gave way to the |
current Of events so far that all the out 1
side prices were stricken off from the /
quotations The stock again showed q
aTge decliue-ll, 24} bales against /
1920 on the first day Of The
month, and $40 on the first
lay OF May. the closing kilograms |
we're az follows: EewYork weak, irreg-
llsT and lover at l5sc; sales, l45S bales.
New Orleans moderate demand, al l5c; |
.3!ss, 1850 ba.es; receipts, 476 bales.
Liverpool Guii, depressed and lover, at
I +; Orleans, 7i3-l6i; sales, 5000 bsles,
,g which 40J3 bales were American. Sa-
'anusb, l55c; Mobile, l4ic; Charleston,
SIC; Galveston, l44c; Wilmington,
Age; Baltimore, Isle; Norfolk, l5gc; /
io5t0n. l53c; Augusta, liic. Gold at
New York, three O'clock, ll8E. The
sTe the official quotations OF
NE cotton exchange.