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Commercial October 12, 1862

The Nashville Daily Union

Nashville, Davidson County, Tennessee

What is this article about?

Louisville money market report on October 6: Gold buying at 18-20% premium, selling at 25%; silver at 1-20% premium, buying 10-12%; demand notes at 12-15% premium. Eastern exchange selling at 1.5% premium, buying at 0.5% discount. Staple prices higher, brisk business, but limited grain arrivals due to nearby armies and low river levels after rains.

Clipping

OCR Quality

95% Excellent

Full Text

Commercial.

MONEY MARKET.

Louisville, October 6

The buying rate for Gold is firm at 18 @20 per cent premium, the bankers offering to sell at 25 per cent premium. Silver change is held at from 1 to 20 per cent premium, the bankers buying at 10 @12 per cent. Demand notes have appreciated in a ratio corresponding to the rise in the rates upon gold, the bankers buying at 12@15 per cent premium. The postage-stamp currency is circulated in but limited quantities, the bankers not yet having received any considerable sums. The selling rate for Eastern exchange is 1 1/2 per cent prem., the bankers offering to buy at 1/2 per cent dis. Prices of staple articles of trade are generally higher, and the business of the week has been above the ordinary average at higher rates. But small quantities of grain have been received, as the operations of the two armies in this immediate vicinity have rendered it impracticable to send forward much supplies. We have had two or three refreshing rains during the week, and the weather is now cool and pleasant. The river is still so low as to render navigation both difficult but almost impossible.

What sub-type of article is it?

Banking Market Condition Economic

What keywords are associated?

Money Market Louisville Gold Premium Silver Rates Exchange Rates Grain Supplies Low River Army Operations

What entities or persons were involved?

Bankers

Where did it happen?

Louisville

Commercial Details

Location

Louisville

Event Date

October 6

Commodities

Gold Silver Grain

Key Figures

Bankers

Notable Details

  • gold buying rate 18-20% premium, selling 25%
  • silver buying 10-12% premium
  • demand notes buying 12-15% premium
  • eastern exchange selling 1.5% premium, buying 0.5% discount
  • higher staple prices
  • limited grain due to armies
  • low river navigation

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