Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1863-03-23
1From the Cincinnati Prict Current, March Is
Financial and Commercial Summary
for the past ~ eek


The markst tor gold. which influences and
regulates the business of the country, continues
unsettled, and the Iates iuctnaie from hour to
hour aud day to das, in a manner peculiarly
harrassing to the entire community The specu
Jative business in gold since the late great
decline, has been greatly diminished. and opera
tors are more timid and cautious. The curtail
ment is caused hy the banks calling in loans.
which WIS done during the last week to the
extent of over So, 900 900.
Rumors that Mr.. Oh use visited New York TO
negotiate Il loan of 500, DOC, 000, and that
$780, 900 900 of a Dan had been taken by Euro
pean capitalists, have been circulated within the
week throughout the country and tended greatly
to increase the fluctuations in the price OF gold,
as those who now speculate in it for a rise. are
very easily alarmed. On Monday there was "A
second stampede, and rates declined in the fore
noon 4@5 per cent. but again the market be
came frHer, and a part of the decline was recov-
erei.
Yesterday il was steady NJ I55. but with moth
ing to indicate whether the next move would be
up or low Mr.. Chase has been in New York,
On business connected with his department, which
has led to a large amount of surmiseS but none
are probably aware of his true motive The few
facts connected with the visit would point to an
examination of the prospects of selling Govern
ment bonds at par or nearly so, and that he found
this was not probable, and that the result has
strengthened the CONJUNCTION that the forced
loan system must be continued by IA further issue
OF legal tenders. Most writers seem TO think
that the sale of bonds for what they would bring
would strengthen the credit of the Government,
whilst the issue of legal tender currency would
injure it. We cannot see why this should be;
because the ultimate security in the one case is
the same, and the fate of one must be the fate of
the other; and, should such u thing ms repudia
ton be ever attempted. the legal tender notes in
the hands of the people would be the most pow
erful argument againstit-
There is no doubt that gold was forced to a
higher point by the sweeping speculations in il,
than it would have reached, had it been left TO the
legitimate influence of commerce., but it is idle
to suppose that the securities of the Government
can be kept at par or near il, when the country is
engaged in a war. The securities of no Govern
ment in the world could be so kept: those Of
England went down forty to fifty per cent. below
par, during the French war, and why shOulc
those of the United States fare better. when she
is engaged in a war in which is involved, not the
defeat OF a foreign despot, but the very existence
of our Government, which is beset with enemies
in front and in the rear? We have unbounded
confidence in Mr.. Chase, and feel that he will do
what is best, and know what that is. He knows
that means must be had to carry on this Govern
ment. and that this war must be prosecuted until
the Rebel Government shall yield; for with the
United States to Weld is to die.
The remand for money has been of the most
limited nature, owing 10 a general suspension OF
business consequent upon the fluctuations in gold.
Good business paper can be negotiated ut 6 to s
per cent. for thirty and sixty day dates, ann 10
per cent. is regarded an extreme rate. Money
can now be borrowed on real estate at 6 per cent.
There, is a great abundance of idle capital Elk
charge has ruled 6rmer. and rates advanced to
par buying and "a premium selling, but the mar
l4t oIo=oI tho I,1 LIT arar,,r 0,1l E,s
fuctuated with the New York market. Tn
IoInr:.nr rnAoa Co.. !. Ii IL &c E,llorr.