The Sun.
London, England, 1863-10-31 00:00:00

THE SUN, LONIOIV, SATURDAY EVENING, OCTOBER 31, 1863.

THE GALE.

On Thursday a gale from the WSW broke over London.
It became higher during the night, and continued to blow in
heavy gusts, accompanied by rain, during the whole of yes-
terday, In the south-west and north east broken tiles, slates,
chimney pots and cowls strewed the streets and roads, and
a number of persons were injured by their fall.
The most serious accident which occurred during the day
took placeat the New-cross station of theLondon,Brightonr
and South Coast Railway. As every one who has occasion
to travel on any of the lines from London bridge must be
aware, there are several large engine sheds in the neigh-
bourhood of Hatcham-park. In one of these sheds yes-
terday afternoon about a dozen men were working, princi-
pally engine-fitters, stokers, and drivers. There were also
four or five engines getting up steam, two of them being
ready to go out, when, without the slightest warning, the
wind rushed in at the lower end of the shed with terrific
force, and, there being no vent for it, it first blew off the
roof notwithstanding it was braced with heavy iron girders,
and then threw down one side of the building which might,
perhaps, be 60 or 60 yards in length. The side which was
blown out fell across the rails of the Croydon line completely
blocking them with a mass of bricks and rubbish. The other
side of the building against which several hundred tons of
coke were piled, fell inwards on the space occupied by the
building,which was immediately covered by a mass of bricks,
heavy iron girders and broken beams of timber. In point of
fact, the building was as completely demolished as if it had
been a card house blown down by a breath of wind. The
men engaged in the building fled for their lives at the first
alarm, but before they could get out several of them were
completely buried in the ruins. One man named H. T.
Woodrow was killed on the spot by the falling of an engine
upon him. He was found completely doubled up, his back
being crushed, and both thighs broken. His head was also
frightfully wounded by the falling of iron rods. He was an
engine-fitter, and we understand leaves a wife and family.
Three other men, named George Cutts, Wm. Smith, and
Charles Privett, were also so injured by the falling girders
that but little hopes are entertained of their recovery. Cutts
had his back broken and his right leg broken in two places ;
Smith has both legs broken, and Privett his legs and arms
broken. All the unfortunate men were removed as soon as
they could be dug out of the ruins to Guy's Hospital. They
are covered with bruises in different parts of the body, caused
by the falling bricks and coke which completely covered
them. The other men, about a dozen in number, who were
engaged in the shed at the time fortunately escaped with no
greater injury than cuts and bruises. The bursting of the
building is described as being accompanied by a report like
that of a park of artillery. Mr. Craven, the superintendent
of the engine department and the chief officer at the New-
cross-station, happened fortunately to be in his office at the
time, and immediately hurried to the spot. His first care was
to stop the traffic on the up and down lines, and to see that
none of the rubbish had fallen on the main line to Brighton,
which was only a few yards off. This precaution was taken
instantly. Some hundreds of men from the neighbouring
sheds had rushed to the spot where the accident had occur-
red, and, under the direction of Mr. Craven, one party com-
menced clearing the lines, while another proceeded to ex-
tricate the men who had been buried. After a portion of
the rubbish had been removed it was found that the rails
had been completely destroyed in every direction. Four or
five engines were either lying on their sides or resting on
the ground with their wheels off. One engine, however,
escaped altogether. The value of the property destroyed
must be Feveral thousand pounds. It is a singular fact that
while this shed was thus destroyed another and much
larger one in the immediate vicinity escaped. The same
blast of wind which levelled the 'one lifted the roof of the
other completely off, but the wind finding sufficient vent it
settled into its former position without any other injury
than the smashing of a few panes of glass. As soon as in•
telligence of the accident was received, several of the com-
pany's chief officers proceeded to the spot. A large body of
the H division of the police force also arrived shortly after
the accident, and rendered essential service in preventing
the entrance of an excited crowd into the works. All last
night the workmen were engaged in removing the rubbish
and raising the girders and engines, so as to enable them to
repair the damaged lines.

The same blast of wind which levelled the engine shed
at New-cross, also unroofed three houses at the end
of the Old Kent-road. Two of them were shops occu-
pied by small tradesmen, named Sulton and Adams,
but fortunately in these cases the inhabitants of the houses
escaped. One or two passengers in the streets, however,
just avoided being buried under about a couple of tons of
bricks which fell on to the pavement. In the other case they
were not so fortunate. On the opposite side of the road to
those houses occupied by Salton and Adams is a small one
in which resided a man named Mahony, a tailor. He was
sitting with four other men working, when the whole of
the upper part of the house was blov, n away, and a pile of
chimneys falling smashed the rafters, which fell upon one
of the men and inflicted such severe injuries as t.) render his
recovery doubtful. At the same time all th 2 furniture in
the room was destroyed. Mahony himself had a narrow
escape. He was sitting by the side of the man who is nearly
killed, but happening to look out of the window and seeing
the slates flying from the roof very freely, he left the room
to warn his wife to take the children into the house, when at
that moment the stack of chimneys fell. The other men in
the room were fortunately sitting under another rafter, which
resisted the force of the wind and the falling bricks, and they
escaped with a few bruises. The roof of the room adjoining
also fell in with a fearful crash, destroying everything in
the room. The unfortunate persons inhabiting the house
were driven into the street, and momentarily expected the
fall of the whole building. Some clothes and a quantity of
cloth were entirely destroyed by the fall of the roof.
The largo forest trees in Hyde, Sr. James's, and the Green
Parks were much damaged, several boughs having been
torn off, and in Victoria and Battersea Parks the damage is
very great. At the residence of a labouring man, named
Henry Sloman, No. 2, Terrace-place, Stepney-green, Mile.
end road, a stack of chimneys fell upon the roof, forcing it
in and causing considerable damage. The coping and upper
portion of the front wall fell with a loud crash, but fortu-
nately no one was injured, although several children were
playing within a few feet of the spot. Last evening the
rubbish had not been removed, and the traffic was partially
interrupted. A large travelling caravan which was
standing upon the waste ground facing the premises of
Messrs. Mann and Crossman, the brewers of Mile-end-
road, near the Blind Beggar Tavern, was suddenly blown
over on its side, but no person was injured.
At half-past three o'clock the wind tore away the wires
belonging to the London District Telegraph Company,
which extended from Bartholomew-lane, Bank, to the Old
Jewry. The crash occasioned by the snapping of the wires
resembled that of an explosion of gas, and created consi-
derable alarm, and it was feared at first that an explosion
had taken place within the Bank, where the Chartered Gas-
light Company have men employed laying down new mains
—but the fall of the wires across the roof of the Ban; the
houses in Princes-street, Grocer's-hall, and the houses in
the Old Jewry soon showed the extent of the damage. The
traffic of vehicles through Princes-street was suspended
until the way was cleared. The wires connected with the
North London Telegraph were also blown down in the
vicinity of Hawkins-street, Sydney, Mile-end, which has
completely stopped the communication at that junction of
the line.

The up-traffic of the river steamboats on the ebb tide was
considerably impeded by the violence of the storm. Off
Rotherhithe, a large barge having struck against a tier of
vessels the mooring gave way, and the tier drifted against
another tier, causing extensive damage, and a considerable
time elapsed before the vessels were separated.

LIVERPOOL, Friday.
During Thursday and Friday Liverpool and its vicinity
were visited by a series of severe squalls accompanied by
heavy rains, the gale having caused considerable damage to
the shipping. Outside the Mersey, in the Channel, the gale
was of great severity. The ship Frankfort, from Liverpool
to Bermuda, and the Coquette, for the same port, were
compelled to put back, although they had not suffered any
damage. The Mona's Queen, for the Isle of Man from
Liverpool, also had to put back. One or two vessels which
had sailed from Liverpool, put back yesterday slightly da-
maged.

PORTSMOUTH, Friday.
A strong S.W. gale sot in here yesterday morning, and
continued, accompanied with rain, with but little intermis-
sion until an early hour this morning. As daylight broke
the wind appeared to increase in force, and blew furiously
until about 2 30 p.m., when the gale reached its culminating
point, and for the best part of au hour the wind swept over
in terrific force, everything being enveloped at the time in
a mist of blinding rain and snow, which came down literally
in to/rents, and hid every object from sight at the distance
of a few yards. From this time the gale subsided gradually,
with the wind veering in to the N.W., at which it now (7
p.m.) remains, but the breeze is still strong. From 10 to-
day, until 3 p.m., when the gale reached its height, the
barometer fell 3 .10ths. It now stands at 29.1, with an up-
ward tendency.

CHATHAM, Friday Evening.
A sudden fall in the barometer this morning gave indica-
tions that a gale was at hand, and shortly after two o'clock
this afternoon a hurricane swept over this port, the wind
shifting rapidly from the south to the west and north•wcst,
The hurricane lasted about two hours, during which time
there was a very heavy fall or rain. At 2 o'clock the baro-
meter was at 29.2, and at 4 p.m. it had fallen to 29 5. Great
anxiety is felt for the safety of a large fleet of colliers which
are known to be on their way to this port from the north.
Up to the time of forwarding this despatch, however, no
casualties had been reported. Most of the vessels in the
harbour have struck their topgallant masts, and, with their
yards braced well up.to the wind, have made all snug for
the night, with, in some instances, an additional anchor
down. Late this evening the gale has very considerably
shifted slightly to the northward, but the night promises to
be very rough,

Y CARDIFF, Friday.
Fit es
est"Za-Y morning a telegram arrived from Admiral
y to the effect that a storm might be expected, and
scarcely had the "storm drum " been hoisted when a stiff
gale set in from the south-west, which continued to in-
Y,ntensit accompanied with sleet and rain, during
BO that great fears were
the whole of the day—so much
entertained for the safety of the vast number of vessels
Dying at Penl.rth Roads and in the Bristol Channel. The
gale continued all night, and, up to 9 o'clock this u'orning,

shows no signs of abatement. The shipping in the docks
has escaped, some slight casualties excepted ; but great
fears are still entertained that serious damage may have
eccurred down Channel. Up to this morning, however, no
accounts have reached the port, as it is impossible for
vessels to get up Channel.

EDINBURGH, Friday.
Yesterday a hurricane of great violence, accompanied by
heavy rain, swept across this city. From an early hour in
the afternoon until about midnight the gale raged with
great fury. The streets were almost entirely cleared of
passengers in the evening, and of those who had occasion
to be out several were blown down and cut and otherwise
injured. The scaffolding at the Barclay Church and part
of the wooden bridge at the Edinburgh, Perth, and Dun-
dee Railway Station were blown down, but fortunately
without causing any damage. A number of chimneypots
and slates were loosened from their places and blown into
the streets, but no accidents have been reported to the police.

The American War Meeting at Oldham.

Last night, a numerously attended public meeting was
held at the Town Hall, Oldham, " to urge the Government
to use its influence, with the other powers of Europe, to
bring about a termination of the present war in America."
Tho Mayor (John Riley, Esq.) presided. Mr. Harrop
moved the first resolution, which was as follows :—" That
in the opinion of this meeting the war in America is an in-
jury to the world, and that the present aspects of the con-
flict afford no hope of its early termination, unless by
means of the moral influence of Europe ; we, there•
fore, earnestly
.urge upon the Government of this
country to enter into communication with the Eu-
ropean powers, to concert with them as to the
best means of bringing about peace." He held that the
people of this country were not in favour of an armed inter-
vention in American affairs, but still they desired the Go-
vernment to use its influence to bring about a peaceful sepa-
ration of the states.--Mr. Milnes seconded the resolution.
—Mr. John Ashton, amid a seene of very great confusion,
moved as an amendment :—" That this meeting is of
opinion that the Americans should be left to settle their
own domestic affairs, and strongly approves of the policy of
non-intervention hitherto pursued by her Majesty's Govern-
ment."—Mr. Thomas Tetlow seconded the amendment.—
Mr. Spence, of Liverpool, rode to support the original reso-
lution. As soon as he rose, however, several of the partisans
of the North protested against any stranger being allowed to
take part in a town's meeting at Oldham.—Mr. Mellor
.aid he undoretood that the meeting was au assembly to
take the sense of the inhabitants of Oldham upon this great
question. (Interruption.) He would pat it to the chair
whether persons from a distance should come there for the
purpose of interfering with the expression of their opinion.
(Cheers and counter cheers, which were followed by a scene
of great confusion, in the midst of which Mr. Spence re-
sumed his seat.)—The chairman said that when the requi-
sition was presented to him as mayor of the borough he
looked it over, and did not see the name of Mr. Spence or
the names of certain other gentlemen on the platform. If
the question, however, hod not been raised, he should have
been glad to have allowed Mr. Spence to address the meet-
ing, but now the objection had been raised, he felt bound to
give precedence to gentlemen who were inhabitants of the
borough. (Cheers.) He took this course from a feeling of
no disrespect towards Mr. Spence, but he must decide that
the meeting be solely conducted by gentlemen connected
with Oldham. (Hear, hear.)—Mr. W. Steeple then sup-
ported the resolution, his remarks being frequently inter-
rupted.—The amendment was supported by Mr. Jas. Scho
field; after which a vote was taken, and the mayor inti-
mated, amid cheers, that the original resolution had been
carried.—Mr. R. Harrop next moved that a memorial em-
bodying the spirit of the resolution be presented to Lord
Palmerston.—The motion was seconded by Mr. Halliwell,
and carried with enthusiasm.

The Alleged Illegal Seizure of the British
Steamer Sir William Peel by the Federal
War Sloop Seminole.

All the papers in the case of the Seizure of the British
steamer Sir William Peel have been placed before Earl Rus-
sell by the underwriters at Lloyo'e, where the vessel was
insured. The protest of the captain and officers of the ship
is a most important document ; and assuming the facts
therein stated to be true there can be no doubt the seizure
is illegal and unjustifiable. The following is a copy of the
protest :

"Her Britannic Majesty's Consulate, New Orleans,
statetlthe
w when
anchorageethey first
ns a
thei e d
vessel :
State of Louisiana, Sept. 29, 1863.
"Capt. Jesse Thornham, Master of the British steam ship
Sir Wm. Peel, 2,000 tons, belonging to London, Mr. Chas.
Pycraft,tuihe
officer,fa theacthna
mePod l mouthoVtorm ocfh he Port
. ofn Crewmen,
Liverpoolr
May, in cargo, bound for the pm t of Matamoras, and arrived
a
Rio About Grandthe
6o
tnh
oi. July
the 22d
June,
the steamship was taken in tow by the Mexican steamer
Matamoras and towed to a point from which the flagstaff
on the Mexican shore bore W N, and then com-
menced to discharge cargo, which cargo was taken on board
of Mexican lighters and delivered at Matamoras under
general permit of the Custom-house there, the permit hav-
ing been issued on deposit of the manifest of the said steam•
to. second
on
the steward,l6tho f
ship's cargo. On the 10th August, after a portion of the
Cargo had bteu discharge], it Kas deemed prudent to move
the steamship into deeper water, she being then at anchor
in 4 fathoms of water, and drawing 18 feet water. Conse-
quently the steamship was moved about two miles to the
south of her former anchorage, and into six fathoms of water
with 90 fathoms cable out, and the ship heading south, the
aforesaid flagstaff now bearing WNW by the standard com-
pass, the Mexican shore at a distance of not over two miles,
where the discharging of her cargo was completed, with the
exception of a few packages of axles and harness rings,
which the lighter was not able to take on her last trip. Dur-
ing the latter period of discharging the inward cargo 904
bales of cotton were taken on board the steamship as part of
the outward cargo, the vessel then being bound for Liver-
pool. On the 11th September, at 11 o'clock a.m., the steam-
ship was boarded by armed crews of four boats belonging
to the United States gunboat Seminole, who seized and
took possession of the steamship, ordered all the crew of
the Sir William Peel aft, and placed a sentry of marines
over them. About half-past 11 a.m. of the same day
Captain Thornham went on hoard of the Sir Williani Peel,
and demanded from the United States' officer in charge
the reason why the vessel had been seized in neutral waters,
to which he (the United States officer) replied that he had
seized the vessel on suspicion of having a crew of 140 men,
and having nine or ten 11-inch guns under the cotton on
board. Capt. Thornham replied that he was willing to dis-
charge the cargo on board the steamship in proof that the
accusation was without foundation. Capt. Thornham then
desired permission to go on shore to get all the ship's papers,
which were with the British vice-consul and with the agent
of the ship at Matamoras, which was refused; but the chief
officer, Charles Pycraft, was allowed to go on shore for the
purpose of writing to Matamoras to have all the papers for-
warded to New Orleans. The crew of the Sir William Peel
were then sent on board the U.S. gunboat Seminole. Capt.
Thornham thea warned the commanding tfficer of the Semi-
nole that the engines of the Sir William Peel were very
complicated and intricate, and that unless some person had
charge who understood the working of the taps, &e., serious
damage would be the result, and asked that the engineer of
the steamship be allowed to remaia on board to give infer.
mation to his engineers regarding working the engines;
which he refused, and sent the engineers of the Sir
William Peel on board the Seminole. At five p.m. of
the same day the United States engineer, who had
been placed in charge of the engines of the Sir William
Peel, reported to the commander of the Seminole that there
was a quantity of water in the stokehole, which was gaining
nn them, and did not know where the water was coming
from. Capt. Thornham then requested that the engineers
of the Sir William Peel should be sent for, which was done.
The engineers having been brought on board, Capt. Thorn-
ham told them to go down to the engine-room to see what
was the matter. They reported that the engineers of the
Seminole, through ignorance, had opened the seacock the
wrong way and had let the water into the bilge. After
this was remedied by them they were again sent on board
the Seminole by the commander of that vessel. At 10 p.m.
the commander of the Seminole left the Sir William Peel,
having been on board since 11 a.m. At half-past 7 a.m. of
the 12th the Sir William Peel, still under charge of the
United States officers and crew, was got under weigh,
steering from the land. 1. hat at 11 a.m., when about eight
miles from the land, the engines were stopped, waiting
orders from the Seminole, a large quantity of water then in
the ship, and gaining rapidly. The officer in charge hoisted
the British ensign half-mast, union down, as a signal of dis-
tress to the Seminole. The Seminole came out to the Sir
William Peel,and found that the United States engineer then
in charge, through ignorance, had again opened the seacock.
At half-past 5 p.m. of the same day the Sir William Peal
proceeded towards New Orleans under steam, while the two
after boilers, the engines shaking the ship dreadfully, in
consequence of the propeller having been shipped the wrong
way by the Seminole's engineers on the shaft. From this
time the ship proceeded under steam towards New Orleans,
arriving at the quarantine station in the Mississippi River
on the 16th, where she remained until the morning of the
25th, when she was then brought to New Orleans, where
she arrived on the evening of that day. Capt. Thoruham
further states that the commander of the United States gun
boat Seminole was in a state of intoxication during the latter
port of the time he was on board of the Sir 'William Peel
on the 11th; that much damage was done by the large num-
ber of armed men, exceeding 1( 0, who had been brought on
board from the Seminole, they being exceedingly violent
and very generally in a state of intoxication, having got
access to liquor by breaking open the ship's stores, and
under no control, inasmuch as the officers in charge were
as intoxicated as any of the men. When the officers and
men of the Seminole were leaving the Sir William Peel, they
took with them large quantities of the ship's stores, and of
the effects of the officers and men of the Sir William Peel.

" Now, therefore, the aforenamed Capt. Thornham, mas-
ter, Chas. Pycraft, first officer, and Wm. Cremmen, second
steward of the said British steamship Sir William Peel, do
protest, and their request I, the said acting consul, do also
protest, against the officers of the United States gunboat
Seminole, against the Government of the United States,
against the seizure by force of the said steam ship, as set

out in the foregoing, and against all other acts of the said
officers and Government, for damages and losses sustained
by their acts, as set forth herein, or that may be sustained
in consequence thereof.
" JESSE THORNHAM, Master,
CHARLES PYCRAPT.
WILLIAM CREMMEN.
" Witnesses—Edward Briggs.

William S. Johnson.
GEORGE COPPELL,
" Her Britannic Majesty's Acting Consul."

SPIRIT OF THE PUBLIC JOURNALS.

TiatEs.—Nothieg is more agreeable than to lis-
ten to a highly successful man, who, in the evening
of his life and the fulness of his fame, delights to
narrate the causes which led to his greatness, or
the incidents which suggested his brilliant inven-
tion. The great mass of mankind, if incapable of
doing great things themselves, take pleasure in
knowing how great things are done, and the
galling sense of inferiority is diminished when we
see, as it were, the mechanism of mighty actions
displayed before us like the machinery of a skele-
ton clock. That C.sluwbus found out America
when he was seeking for a short cut to India, and
that Newton discovered the law of planetary revo-
lutions while he was investigating the fall of an
apple, are stories that will win the attention and
excite the interest of all generations. Mr. Chase
evidently thinks that ho belongs to that class of
great men whose reputation nothing can shake.
He does not require that death should put the last
seal on his renown, and stamp it for the benefit of
all future time with the signet of immutability.
He prefers to be the guardian of his own tame and
to supply as early as possible alt that information
which will be so eagerly sought after when the
great Chase has retired to that calm abode where
there are neither loans nor greenbacks, and the
art of the financier is neither known nor needed.
Mr. Chase does not stoop to defend his financial
measures; they stand in no need of it; their
triumphant success speak for itself. He saw
the want of his country, and he supplied it.
The country needed a substantial, permanent,
and uniform medium of exchange, and Mr. Chase
arose and gave it to them. He is at no trouble
to prove that the present paper currency of
the United States possesses these admirable quali-
ties. That nobody can doubt, and we may be
thought guilty of an impertinence if we offer any
argument in support of so self-evident a proposition.
Uniform the American currency must be, for, if
' there were any diversity, the circulating medium
which broke the law of uniformity must be either
paper or gold. Paper it cannot be, for Mr. Chase has
driven out of circulation the paper of the banks, and
substituted the issues of the Government in their
place. Gold it cannot be, for gold Mr. Chase has suc-
ceeded in driving out of the country so effectually
that there is no fear of its returning from exile
to spoil the symmetry of a paper circulation. The
greenbacks are clearly entitled to the praise of uni-
formity ; nor can we deny to Mr. Chase's currency
the attribute of permanency. He has secured that
by its depreciation. There is not the slightest
fear of his greenbacks sharing the proverbial fate
of suddenly acquired wealth. They will not make
to themselves wings and fly to other lands. They
are his and his alone. We doubt if a single note has
found its way across the Atlantic, unless as a curio-
sity. Certainly Mr. Chase is entitled to claim for
his currency the attribute of permanency. A depre-
ciated paper currency is an easy possession for a na-
tion to acquire, and a difficult one to get rid of.
No'ody wishes to deprive her of it; it is one of
those blessings which excite no envy. Commerce
does not touch it, war itself will not destroy it.
Mr. Chase claims for his currency that it is not only
permanent and uniform, but substantial. This may
be proved by several arguments. In the first place,
the bulk of it is very considerable. Printing presses
have been at work for two or three years, day and
night, in producing this currency, and it would be
a curious calculation to estimate what kind of pile
the whole issue of greenbacks would make should
the Government be ever in a position to buy them
up and burn them. The substantiality of Mr.
Chase's currency may be further proved by the
immense weight which it supports. Upon it rests
the vast army and navy, the internal trade, the
credit, and the hopes of toe United States. Surely
that which supports ail this mass mast itself be sub-
stantial? The utmost strength, however, of a ma-
chine is never known till it is broken, and we may
possibly be called upon to witness this final proof of
the substantiality of Mr. Chase's paper currency
when we see the burden under which it is destined
to give way. Mr. Chase tells us that the wheels
of his department revolve smoothly, he has in hand
25,000,000 of greenbacks, worth at the present rate
of exchange somewhere about 16,000,000 dollars.
With these he can pay the army and navy on the
Ist of November, and therefore what has he to
do but to go electioneering ? Let ordinary mortals
toil and slave, let Old World financiers rack their
brains for fresh taxes, fresh loans, or further mine.
mica; Mr. Chase has found the philosopher's stone
—he has got an uniform, permanent, and substantial
currency, which costs nothing and pays for every-
, thing, and he need trouble his head with none of these
Old World embarrassments. We had certainly
thought there was nothing new in all this; we had
thought that the art of issuing inconvertible paper,
and declaring it a legal tender, had come into exist-
ence a little before the art of declaring national
bankruptcies—nay, we had even gone so far as
to speculate on some occult connection between
the two. We now learn that we were mie-
tauen, and Mr. Chase is good enough to give
us a popular explanation of the steps which
have led him to a discovery destined to redeye
mankind from the primitive curse, and to make
them rich without inflicting en them the slightest
trouble or anxiety. The first thing that struck Mr.
Chase was a declaration of our own, that no money
would be advanced in this country to the Northern
States by Eoglien capitalists. Reasoning deeply
on this announcement, he came to the conclusion
that as we would not lend he would not borrow
from us; at any rate, till we came to ask him to do
so—a qualification which we venture to think does
not much diminish the absolute nature of the pro-
position. Having established this point of depar-
ture, this 'ingenious man began by borrowing all
the gold he could get in his own country and pay-
ing it away for war expenses. In the course of this
process his mind was struck by the remarkable fact
that the gold did not come back to him as fast
as he paid it away—an observation which we
apprehend has been already made by every person
who has entered upon a large expenditure of bor-
rowed money and has not creait to borrow any
more. This was exactly the state in which Mr.
Chase found himself. Capitalists became exorbi-
tant in their demands, and Mr. Chase came to the
conclusion that instead of borrowing other people's
notes he had better issue his own. As this was, how-
ever, only another form of borrowing, and as he had,
as he tells us, previously exhausted his credit, people
who were not willing to become creditors of the Go
vernment, which was the case with many bankers,
were unwilling to receive these notes in payment.
Then the beautiful idea suggested itself to the mind
of Mr. Chase of compelling them to take them in
payment—that is, of making them legal tender. That,
he triumphantly says, was the next step. You would
have done exactly, he says, as he did. It is an affair
of common sense and courage. No doubt any debtor
whose credit is exhausted, whose bills nobody will
take except at a ruinous discount, would, if he could,
make them a legal tender. Mr. Chase could, and
did, and therein lies his unapproachable superiority
over the private debtor, who, when he cannot pay,
has no resource but an ignominious declaration of
insolvency. But the greatest men are not consistent
throughout. We are sorry to observe in Mr. Chase
a lamentable confession of weakness. His next step
was to borrow money on bond. This was quite
right if he could get it; but alas, in order to get it
he promised to pay the interest in gold. Why in
gold ? Had he net at his absolute disposal—could
he not create at will, that uniform, permanent, and
substantial currency to which labour must look for
its reward, which represents the credit of the nation,
and which, by the system of national banking, has
received, as he informs us, the support of the capital
of the country ? He found, he tells us, that he could
get gold, and so he used it; we clearly understand
every other step of his career, but this recreant
hankering for a metal which he had disgraced, su-
perseded, and driven out or the country, is to us in-
explicable, Was there nobody there to ask Mr.
Chase what would be his next step? Where does
he intend to get more gold, or how does he propose
to do without it ? Perhaps he had better perform
his threat of making the capitalists of England
press up :n him the acceptance of their gold; per-
haps he thinks that the payment of interest in
specie for money which is gone and spent has lasted
long enough, or perhaps he has discovered some
secret for greatly increasing his paper circulation
without diminishing its value. Nothing was ever
at once found out and perfected, and we are bound
to say that Mr. Chase appears to us to have been
more successful in pointing out the steps by which
he has ascended to his present eminence then in
pointing out how he is to maintain it. Icarus is
very near the sun, and we want to know how he is
to prevent the wax in his wings from molting and
burying him under a cloud of his own feathers. f
POST.—Whatever may be the advantfagtebsemo,
trades' unions to those who are members
there is no denying the inconvenienceando annoy-
ance which they have apparently a
I:specialty fur
causing to the rest of the community.he building
strike, with all its concomitant incidents, must be
still fresh in the memory of most of our readers.
e of year for this
Set on foot about the most length for many weary
trade, it dragged on its slow