Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1864-05-27

Mr.. Chase says the expansion Of the State
Banks Is the trouble. Whilst IL IL true that the
Eastern banks have increased their circulation
largely since the war. yet this increase. or indeed
their aggregate circulation. il bat small com
pared with the amount Of government paper now
af0at
Now, whilst this expansion Is dangerous to
those who hold this currency when the crash
comes, vet We saw the total increase has been.
compared with the amount of currency in circu
lation. relatively small. But whilst the Eastern
banks have been thus expanding. the Western
banks have been contracting largely. We do
not mean 10 intimate by these remarks that We
in favor of State and local banks, for such is
not the fact, because We have always favored a
uniform national currency. regarding il the only
safe and rational system for this any other
people.
The campaign in Virginia has not progressed
much during the week. and t has become more
clear from day TO day that Grant has a terrible
conflict before him yet before the rebel force
under Lee il subdued OF this there can be no
doubt. and this suspense is what put gold up. and
caused the Government loan TO lag. On Mon.
day aud yesterday. We have been assured that
Grant has made an important and successful
fiarking movement against Lee, but the details
are being kept private. and the country Is IN
great suspense consequently.
The weather has been quite warm-the tenn
perature during the last three DAYS being up to
summer heat On Sunday and Monday, sbou,
noon, il reached 80 to So Monday night and
yesterday morning there were heavy rains. which
With the warm temperature, brought vegetation
on rapidly. and we may say that the agricultural
prospects are now excellent.
The general markets have been very quiet du-
ring thr week, and with the exception OF mess
pork. but a limited business has been done.
Flour has been held rather higher, but specus
tors would not operate az the advance Wheat
has been held higher, and an advance of Zoe has
been established, but the rates We give, AS those
current az the close. were paid reluctantly. Corn
and oats both dull, without essential change.
The market has been bare of rye, and prices ad-
,anced to 81 709l IS but it vas offered to ar
rive al 81 90 Whisky has advanced to 81 %, be-
cause, AS we Intimated in our last, the Senate
Committee has rejected the project of taxing the
stock on hand. Now that the tax on whisky sir
months hence will not be less than 81 30 per gal
Ion. we have no doubt. which will make the cost
price of il, under any circumstances. 81 10 per
gallon. and it may be 60, because it is not prob
able that corn will be low enough to make il at
the former raie. so that there can be no loss in
holding the article at the present rates
Butter has been in light supply. and prices
ruled frmer and rather higher. Cheese declined
lie. HAY unchanged. There has been an ac-
tive demand for mess pork, and prices advanced
fully s. per barrel during the week. The sales
reach $4,000 barrels, Of which 5000 barrels was
taken by Canadian parties. OF other articles in
the hog produce there has been animation.
and bulk meats have been offered rather pressing
ly and AT low rates. especially sides, which have
been offered at decline of fully &c Lard has
been held firmly. but only small business done
in it. In our general market review we give
quotations, and further particulars
The grocery market has been dull and prices
of sugar and moasses are lower hut notwith-
standing the dizziness in the large way, a very
good iobbing business has been done at our QUO
tations, and the amount OF sugar and coffee taken
by the country in small parcels, has in the az
gregate been quite large "a will be seen by our
table OF exports.