Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1862-01-30
From the Cincinnati Price Current, Jan %.
Financial and Commercial Summa ry
for the Past Week.

The mystery regarding what will be the finan-
cial policy OF the Government continues to ag-
tate the money market to greater OF less extent
all the leading cities and the rumors and spec
ulatons prOmul gated with reference to the views
OF the Secretary OF the Treasury or of the mem
bers of the Comm ttee on Ways and Means, are
used to put up or down the prices of stocks and of
gold from day To day the may be. The
plan reported TO have been agreed upon by the
Committee. 20 issue demand Treasury notes and
make them legal tender and redeem them in s
per cent. United States stocks seems 10 have
met the general approval Of the citizens of the
loyal States and it is not improbable that this
plan or something resembling it will be adopted;
indeed this is the only feasible plan it would seem
because it not be expected that the Govern
ment can obtain loans on a specie basis to carry
on this war, unless at enormous sacrifice;
which would add to its expenses wonderfully
There Is no doubt that the people are willing and
anxious that such policy shall be adopted.
Idle capital is accommodating rapidly and the
opportunities of safe investment diminishing in u
similar ratio and this will continue to be the case
while this war Lasts aud hence il is, that WHEREBY
er there IS the mere shadow Of probability of an
advance III the price of any article of produce, in
yestments being made in il with surprising
ayidity.
1t Is supposed that should the plan of the com
mlttee. 10 which We alude, be adopted, the result
would be large advance in gold and sterling
exchange. but We cannot why This should be
regarded necessary consequence, because the
amount OF gold in the country is very large, an
the portion OF it which be boarded and per
mitted 10 lie ldle must be very small one in
deed, So that necessity will keep the great bulk
of in circulation. And then our imports of
foreign goods are now light, and must remain so
while the war lasts, and will not exceed in value,
il they come w to our foreign exports of DO mes
tic produce, thus rendering the export of gold to
pay tor our imports wholly unnecessary; and the
amount OF foreign capital which III be with
drawn, viii be small 50 long as we remain at
peace with European nations. because foreign
capitalists while they can use their money to al
vantage here viii not take it to other countries
The demand for money is of the most limited
nature. All those considered first class borrow
ers have ger orally surplus capital and need very
little accommodation
First class short paper is in demand at 10 per
cent and no trouble IN obtaining call loans at Ga
per cent
Exchange has been steady during the week
and there has been no alteration in rates
Gold has tuctuated from , to 81, premium
selling rates, under the news from New York
from day 10 day. and from l to % premiu N
buying. The closing quotations for gold and ex
change are as follows:
Buying. Selling
New fork........is dis@par. ls@l4 prem
told ...--.----..l G2prem. 3prem
Gold has become a. much an article of specu
lation in New York a any Of the fancy stocks
and = beng sold short daily, hence its sudden
fluctuations
The Indiana banks continue 10 redeem their
circulation in gold usual. but tie Ohio banks
have suspended according to law, a. regards
brokers. &c. but not a. regards farmers and reg
ulaT customers. Their notes are still regarded.
however, as select currency. and the same NAV
be SAID OF Kentucky bank paper
Demand treasury notes pass freely. and If the
bankers handle them SIngerly the people DO not
The weather has been very changeable We
have had rain, frost, SHOW, and Yesterday il was
mild as spring
1 he extreme high stage of water in the river
in;erierei With business 10 some eXtent, cutting
oil a good deal of that done with those towns
bordering on the river
Tie water = now falling rapidly. The re
ceiQts OF hogs have been moderate. and the de
inand good At fuil rFices in the fore part OF the
week. but they gave way the ls-t three days. and
under advces from Northern Illinois and Iowa.
from whence some lots arrived tire Last three DAYS.