Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-11-02
FINANCE AND TRADE.

crossing ease; money in sufi3uieucy fo
al current needs, audian Increase in In,
amount o. deposits. The banks bRv.
been allie - freely supply the wants O
borrowers, whether spong their owr
customers CT not, br.s the .pnIjc..,.,,
for losns have hem neither aymsron,
nor neA'y' va die street application:
Tor loans pave. teen also .ery light. Tbi.
ca, .a, q 'n'' Iey, especislly coming as II
NO, Ilst = the end OF the month, las
-, al neering effect upon oer business
Ps,l = Exchange continues 10 pom
~ N heavily upon the banks, but thew
p Away ready Tor every contingency.
G1.d opened 81 ll5s In Wall street, b1t
- noon had fallen 10 ll6I; here brokers
were Offering list; one OF them offered
49, Tor u round cot. The New York
BW'etta states: "The supply Of gold Is
- small ss 20 be easily handled by specu-
iaio--, and until the supply IL increased
beyond sucd control, the price can be
put up With les effort than can that OF
t"n-inlrds Oi the eculative stocks dealt
IN ihe St Louis Republican says Of
10 snetsry matters there: Counter BUSH
mess 81 the banks continues satisfactory.
" lille shipments Of currency to the in.
terror are steadily increasing. Rates OF
discount remain steady 1T to 10 per
cent. per annUm.n The Chicago ri
Cune reports: "Clty Wholesale dealers
arc nIlcg hesvy orders, and some Of
them are even Eutic palipg payments
even two CT three weeks before they are
due. he demands for money from
city CustOmers are only moderate, ana
bankers meet them cheerfully. Couu-
try correspondents keep % 8 steady
call Tor Telisc0uIts and for currency.
hey have drawn the surplus Of our
1snks down 10 a wOTEing basis, and
only short loans are new scceptable.
The currency 50 largely and so widely
distributed must soon bfgia to fed its
wsy back through mercantile channels,
when complaints as heretofore will be
likely u be made OF oveIburdened
vaults and an uncOmfOrtsb'y large and
Idle surplus. For the present, however,
money must be quoted close, and work.
ing closer; but 10 strinseDcy, go far az
u Known, IS expects by any body.
Discounts are maize 81 10 per cent. 10
customers; on short time Gas New
HorE exchange 69(dT5 per cent. dis
count per SlCOl. Some banks import
ing largely" The New Orleans 7Fs-,ss
reports decreased demand for money.
and ssFs: The financial position is
rapidly growing stronger, by a marked
increase IN the deposits ard of currency,
IL would seem probable, unless business
shs' II revive ia the provision, breadstuffs
s0d grain markets to stiffen the de-
maBd, that monty will soon become
a drug in the market. With
out being lower, it Is now
entirely easy" During the whole
week nothing has been done in local
securities. Some Memphis gold bonds
have offered, but neither they nor any
city bonds meet with purchasers. Shell
by county and tsx-paying scrip are
arm ana ii good demand, except fire
aud police, which, being abundant,
does not rstsin buyers favor, and We
quote II lover than week ago. There
has been otte-s Of for Memphis snd
Clarles ton rsiirosd scrip, but when the
Offer mad made known when Il was TO
be ha0, the promised was not given.
but was offered. We understand boI.
ders u be Sjitf Al s and no large amount
can be had st that figure. 1t has baen
alleged that purchases have been n,nde
other figure has been reported TO Us
iuuug the week. Our quotations ba-
Ow hSve been cha ged oniv in fire and
police SCRIP, which is lowgr. The rates
)f exchange on New York. and the
5oitn and east geEerslly, are buying at
uizcouh'' an" on New Orleans az |
discount selling both a psr.
OUR R.GvIEw Of the cotton market a
%teS ago reported middling cotton ia |
NeS York at IL Ice: on Monday it |
rose 10 l4ic, and on Tuesday to I4fc. |
New Oriesns quoted l2Ec, but fell on |
Tuesday TO l28c Liverpool quoted
l-l61, but on Monday fell to I'd Mem
Dhis quoted II l5-l6c, declined next day
10 Y l3-l6c, on Mondsy TO I23c, on Tues,
lay TO II ll-l6c, On Wednesday 10 II /
j-l6c, and on Thursday to l23c. This
= tement Of the course Of prices at the
c0ttan markets during the |
commercial week shows thai dropping
Influences have generally prevailed. |
New lork advanced 3-l6c; New Or
cans declined &c; Liverpool, lied;
Memphis, 1855. The upward look in
New York was q mere result of the
rambling struggles CT bulls and bears,
md being SO understood has exercised
10 influence on the regular markets.
Cne dropping tone vita which the week
Hoses is the natural results of large rs
'eipts. Our comparative tables below
how how fast receipts are going beyond |
hose Of last year. This increase brings
Up the following question:: This year
he crop is lste, last year it was early;
the late crop Of this year mas sliesdy
EFT the figures OF receipts beyond the
iguret OF the early cropSt the same time
asst year, how much will this years
oial crop go beyond that of
lsl year? The vender can see
low the answer TO this question affects
he views of buyers This state Of things
: already bringing up again the old no.
Ion that IS much mO8ey can be got for
small crop IS for a large one. AS we
ave several times demonstrated, this
lotion is false. II all the cotton-grow-
r. in the world produce short crop on
ny one year, then prices viii rise and
he small crop for that year bring near
? as much as large one. IL all the
7orld continues permanently to produce
sss cotton, the permanently higher
rice will cause q decrease Of consump-
on OF cotton in proportion to the ad-
ance in price. Ii one country-as the |
AaADN ASsaAC@ NeeA gCok BAOuOCCo l
My small crop. the other cotton.
rowing countries will increase the
mount of their production, so as to
for the deficiency. The |
lsrket OF the world being then kept |
lily supplied, the county that grows
small crop will derive only q small
lcome from il. Our true interest
after having grown all the
rain aud vegetables, and raised
Il the hogs that we require
n our family consumption, or can pay
way in laboT-to raise every bale of |
1ttOn it is possible for US to produce,
I'd to fill the worlds demands as to
lake Improbable to other countries to
row against us. There is more rivalry
, be c0ntended with than many plant.
= appear to be aware OF. IndiR is
rgely adding TO its yearly crops. In
gypt the energetic ruler, the khedive,
preparing to bring the great cotton
lands on the upper Nile into |
Itensive cultivation. On the Pacific
,.st cotton Of peculiar urity OF color
I'D fiDeness OF fiber has been produC el,
I'd the yield Ter acre is represented by
he growers as largely beyond that OF
ie Gulf States. Freedom from the /
savy Tains lhsC prevail in the south at
mes, is also claimed as a great advant-
&c 10 the Calf rnia grower, and the .
1inese will wick for very moderate pay.
Re might adj u instances Of this kind,
1t We think No planter eau reflect on