Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1862-02-10
From the Cincinnati Price Current, Feb. 5.
Financial and COmme rciaI Summary
for the Past Week.


The money market has not presented anything
new since our last The demand for money has
been quite light, and good business paper Is in de-
mand at 10 per cent. aud call loans easily ne
gotiated at and per cent Idle capital con-
tinues to accumulate, and but few channels are
open for investment.
The financial policy which will be adopted by
Congress is still undeveloped fully, although the
indications are stronger than they we're a week
ago that the treasury demand notes will be made
legal tender and used by the Government 10
meet all demands against it. There is strong
opposition to the legal tender feature. but like all
other necessities arising out of this rebellion, it
must be adopted. Ii seems to Us that il is absurd
to appeal to law or to precedent under existing
circumstances, because this instruction was got
up in the face of law and of right, and must be
put down by the law Of force instead OF by virtue
of any civil code. That which was inaugurated
by the sword must be put down by the sword, and
the necessities arising out of the conflict will fully
Justify the acts which NAV be resorted TO, and
these acts should not and will not be appealed to
as precedents in times of peace and prosperity.
Those who talk of putting down this rebellion
according to law are traitors in disguise, and the
constitutional and contract rights which they
plead are used by them breastworks from be
mind which they vainly imagine they safely
throw the missile to destroy their country; to de-
throne constitutional law, and justice, and liberty
and enthrone in their stead anarchy.
The exchange market has been quite steady,
with but moderate demand. We quote:
Buying. Selling.
New York. .....1 Il dis@par. 1S@A prem
Gold. .............1a az prem. prem
The notes of the New England banks have
been placed at par in New York city. which will
help their circulation in the West which is rather
to be regretted than otherwise, for no doubt the
object of those suspended banks is to food the
West with their notes, and place the Treasury
notes. as compared with theirs at discount. In
this they will be utterly disappointed because the
people will vastly prefer the notes of the Gov
eminent, redeemable in United States stock, to
the notes of any suspended bank, the redemption
of which is extremely problematical. The last
adviceS from Washington say that Mr.. Chase
urged upon Congress the absolute necessity of
passing law for the issue of the Treasury notes
and making them legal tender, and that it shall
be done without delay. as the exigencies of the
Government are pressing.
| There has been but little change in the mar
kets the past week; generally speaking. a fair
business has been done in all departments. The
demand from the Government for army supplies
adds greatly to the activity.
In the hog market there has been but a moder-
ate business done; the receipts have been light,
not many having arrived from the Northwest,
owing to the scarcity of cars. Prices at the close
were about Is cts. higher than they week
ago.
The market opened at SO 1908 30 and closed
at 50 25@3 so, the latter for extra large. There
was lot of frozen hogs on the market last even
| ing, from Chicago, but buyers did not feel dis
posed to take them. The sales on Tuesday
I foil