Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1864-04-25
From the Cincinnati Price Current, April 20.
Financial and Com erctaI Summary
fer the Past Week.

From the Cincinnati Price Current, April 20.
FinancIai and Commer ctaI summary
fer the Past Week.
The excitement in fancy stocks and gold, in
produce, and ia most articles which go 10
compose the commerce of the country. has cul-
minated collapsed. since our last; as all knew
it would sooner or ater-even those who partici
pated in the speculative mania most deeply.
The result has proved most dsastrous-shakin
seriously the credit of bankers and stock dealers
in New York; many Of the stock dealers have
failed. AS high as one per cent day was paid
for the of money in New York, on Monday,
which clearly indicates the terrible straits tn
which spectators were driven. The credit OF
some of the New York banks was two per cent.
below par. Now, OF course. the fallen will blame
Mr.. Chase for all this-what business had he to
come to New York. and pass down Wall street,
last Friday, and there brighten operators out Of
their wits, put down gold Ia per cent i'll IF that
number of hours and transform mlliOnaires 10
beggars in a day7 Those who engage 81 a spec
ulative business which will result in financial
ruin 10 them. in case Mr.. Chase visits New York
and passes through Wall street. cannot logically
blame any but themselves. Spectators
never look 10 the ultimate results; the import
ant question with them being. how long will the
excitement continued ALI those who buy, seem
to feel confident that they can "get from under"
before the "crash" comes, notwithstanding all
experience shows that this is the most difficult
thing imaginable to do, and that but few succeed
in doing so. Speculation when prices are rising
rapidly. and when men are making thousands of
dollars hourly, possesses a fascination perfectly
irresistible, il would seem, attracting into the
immense whirlpool all classes and conditions of
men; and we are told that even women have
been largely involved in the stock madness,
which reached its hight in New York the past
week There is nothing new. however, in the
crash; such things have happened a thousand
times before and will continue to occur periodi-
cally while the world lasis.
God at one time was as high as lS9, and as
low as l66. Congress is passing bill as speedi-
ly possible which makes buying or selling
gold, without the actual delivery OF the coin is
made at the time. a penal otfense. IL seems to
Us that the effect o. such law this will be to
increase the demand for gold whilst it dmnshes
the number OF those who can sell We hold that
gold cannot be permanently depressed but by
la the field so that tits not to Congress,
but TO Grant, we must look for the pow to put
down the price OF gold effectualIy Supposing
the campaign now about opening should prove
failure to the Government arms, does any
suppose that the price OF gold would not go up
rapidly. aud TO point far above bat il has vet
reachedf Doubtless one; and vet il il the
possibilities the prObabi tiles of such failure
which have furnished the lever power by which
market and the stock market, and as a necessary
consequence put up the price of all kinds OF
produce.
Our money market has been quiet during the
excitement; the demand has been but mod, rate.
and good paper negotiated freely at to 8
per cent
The demand for exchange has been active.
without important change in rates.
Gold has huctuated in response to the New
hut than hac hoo,
done IN it has been very small indeed. There
has been no local demand of consequence, and
but little offering. The lake cities having in
contemplation the rejection OF Eastern bank
rency, il has led to an increased disposition to
steer clear of it, though it has not been bankable
here for u long time The project now before
Congress to tax the issues of State banks is be-
coming quite popular. and there is little doubt
that such measure will become law. There
has not been much done in vouchers or orders,
owing to the small amount offered-orders are
shade easier than they we're a week ago-5-2O's
have huctualed considerably and closed at l09
The subscription to the l0-40 loan has been fair,
averaging about one hundred thousand dolars a
day
Dir. Chase has discontinued the sale Of gold
certificates. having disposed of about eight mil
lions. The measure had not the desired effect.
for pending the sale gold advanced.
The rates for coin, exchange and govern
ment paper at the close last evening, were fol-
lows:
New York............... par. lilo prem.
Gold........ COS prem. 6s prem.
Silver. % a5S prem. 81 prem.
Orders Washington, s9ass1I
Quartermasters'
Vouchers, city. .97h999
Tie excitement in the produce market, no.
tced in our last. and the sweeping speculative
demand continued up to Thursday evening" and
during that day assumed a character OF perfect
madness All wanted to buy, and few to sell,
aud those who held desirable articles of produce
were unwilling To name price lest the offer
should be accepted
Superfine four reached 81 25, wheat 81 500
1 81, corn S. %, oats S5c, rye 81 81, whisky
81 %. mess pork S25; but suon as the de
cline of gold on FRIDAY announced, the
speculative demand ceased, aud an expression OF
disappointment visible on all faces. with
now and then exception. An immense
amount of Hour and wheat had been bought up
during the rush. The sales of -four reached &c.
600 barrels. Wheat being offered less freely than
flour, there not so much done in il. On
Saturday The sad change was fully realized by
those who bought, whilst sellers were congratu-
lIting each other upon their good fortune in
getting out" Flour declined until Sc was the
best offer made for super6ne Wheat declined
to ST. 36@l 10 for red, and 81 45@l 50 for
white. Co declined TO 81. Otts 10 oO(9cl.
Rye 10 81 As. Whisky To 81 l2@l l5. Aud
all closed irregular, and prices SO unsettled that
these rates were, to some extent, nominal.
The speculative demand for provisions ceased
bur. excepting lard, there has been DISPOSE
ton manifested to make important concessions.
Prices of mess pork and lard have been nominal
for some days, and the demand for bulk or ba-
con sides has been light. but shoulders and hams
in all shapes. meet with continued good con-
sumptive demand. shoulders selling at 1870
III Re in bulk and smoked, and hams at l69 &c
for plain aud sugar cured. Lard could have
been bought al l314c.
Better has been in better supply, and prices
are Sc lower.
Cheese firm and the stock Of old exhausted OF
nearly SO. Small lots of new have been re-
ceived.
Clover seed declined to 81 rs. and is dull.
Cotton advanced TO 75c for middling. but fell
back to 73@74c.
Wool has been in better demand and prices
advanced to 6O@7Oc
Delegates TO the National Democratic