Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1864-03-21

a.
BUYING. SELLING.
silver................-..5o 95s prem. 81 prem.
Orders or Washington. sS9ssk
Quartermasters'
Vouchers, city....-...9s
The recommendations Of Mr.. Mccullough re-
garding changes in the National Banking law
have been put in shape by the committee to
which they were referred. and reported to the
House. OF these the clearing house system is
the most important, because without it there is
little doubt that the currency would not be of "A
uniform value. We notice that the bill reported
proposes that there shall be but one clearing
house. and that shall be at lew York. This
regard unjust and unnecessary-unjust because
il would concentrate an immense amount of cap
ital in New York, to the great injury of other
business centers. Boston, New York and Phila-
dephia the seaboard. and Cincinnati, St
Louis and Chicago in the West, should have
clearing houses located for all banks naturally
tributary to each city Ii seems strange that
Mr.. Mccullough. who is so intimately acquainted
with the West. does not see the justice and the
necessity OF such an arrangement as this.
The jobbing trade of the city has been quite
active during the week. in all departments, not
withstanding the weather has been dsagreeable
some days; although, during two-thirds OF the
week, il was quite pleasant
Flour ms Deen uuti anu wheat uepreSSeO, as
the reported injury to the growing wheat crop is
not regarded sufficiently well authenticated to
induce speculative demand. Parties who de-
sired to invest made a tour to the rural districts
and found fields which had been declared ruined
by the owners. giving signs to the contrary under
the genial influence Of the few sunny days
have had within the week, aud they returned
with the speculative disposition fully subdued
There is no doubt. from the reliable information
i hay "a ind hat Al o hoa IL
injured in large districts TO some extent, but to
what extent cannot be determined now, nor until
next month probably. An unusual large amount
OF both -four and wheat is held in the West and
il is clear that the only thing TO prevent large
decline is large deficit in the growing crop
Corn has been quite dull, the distillers having
withdrawn from the market, but it is held firmly,
and holders submit TO the decline substantially;
but the cessation of the demand for dstillation
must certainly have a marked effect on the mar
ket. constituting. as il did. the chief demand
| Oats have not changed much but were rather
dull nj the close at our quotations Rye declined
! to 81 %. but this was below the views Of buyers
| Barley dull Whisky has been unsettled, the
bill to which we referred in our last taxing t Coo
/ per gallon is now "A law. and the new rates, so
distillers cannot make whisky ut the currer rate
/ by at least l2c,per gallon. they, as a matter OF
necessity. stop. to the utmost extent they can.
/ Ii was supposed whisky would have suddenly ad-
vanced when the bill became a law, but such has
not been the case, and the reason of this is pro
badly the uncertainty of what Congress will do in
/ the future, or rather between and the FIRST of
next july, and this fear makes many who hold
I the article rather anxious To realize Dealers
/ have all pretty large stocks on hand and there
/ fore the demand will be but light for some time
Glover seed declined to 81, but there a
/ fair demand at the decline. Timothy declined to
50. and is dull
The provision market has been quiet but firm
There has not been much speculative demand
but good consumptve demand for shoulders
and hams in bulk or smoked, though the prefer
ence has been given to shoulders. in bulk. which
have been fully "a higher. Sugar cured hams
advanced to l54Gl5H Not much done in
bulk sides, mess pork or lard. The entire pork
| crop, however. is concentrated in few hands,
| comparatively. and at earlier date than has
been usual, and there is no doubt that il will be
held with great hrmness and confidence. and it
| will take strong combination of events TO force
prices down from the present position; and, on
the other hand, but a moderate demand compar-
atively to put them up. The demand for home
use must be large. because Of the closeness with
which hogs were sold by farmers, and the very
high prices Of all kinds Of fresh meat Lard is
regarded the worst article of the hog product,
because Of the small amount which has been ex-
ported, and the falling off in the demand from
manufacturers. and the probabilities seeuSRo be
in favor OF a decline before foreign demand
arises from il.
The grocery market has been quite buoyaut
and prices are higher Spices have also adj
vanced Timers stock is higher Brooms
have advanced, and are in light supply. Fish are
higher.