Smyrna times., 1861-08-22
MrSCELLAN EOUS.
The New Government Loan.

vac treasury ahd the Banks has been concluded
The Basks Of New York, Boston, and Philadel
phis take at once, $4,000, 900 nfthe 8. lC
Government Bonds, with the privilege Of tax.
ing an equal sum on the 18th of October; md
further equal sum on the 18th OF December
no other Government Stocks or Bonds excep-
tag those payable on demand, to be negotiated
OF paid out until February l, 1862, should the
Banks conclude to take the whole amount
named, the Government reserving the right to
avail itself of Nativna! loan or loan in Eu-
rope. The details are not fully perfected, but
these will not interfere with the consummatiUn
Of the great event, which is by far the most i'm
PortanI that has Ia zen place since the outbreak
IN effect. it pledges the entire capital of the
country to the support of its military strength,
and must, 10 the mind Of every impartial per-
son. be regarded ae determining the result of
the sontest. II will everywhere carry convic-
zion Of success. There may be some hard fight
Ing yet; but 100000, people without means,
without commerce, and without mechanical
skill. cannot long resist 22,OOO,OOO, possessing
sbundant resources, the command of the sea,
with the ability to supply themselves with the
most approved weapons ofwarfare, and an abun
dsnt eommssariat. Indifferent observers can
not resist the conclusion that, in the end vic.
tory will remain on the side of the most numer
cue battalone, no matter what the reverses we
sustain in The outset. The South, for YEAR,,
have been preparing for the contest; the North
n q Oiuo tboD
porary advantage, which in a few weeks more
will be completely neutralized. Man for man.
The North have shown themselves fully equal
20 the South. AS we can put FIVE soldiers into
ths field to one on their part. our people here.
after will entertain no anxiety 8 TO the final
result. The action of the Banks will accomp
isA vast good in a moral point ofview, both
at home and in EHrope. 1t will be regarded
as foil proof of the loyalty of ouT people. 1t
will revive the sentiment Of nationality, some
shat confused and sha ken by recent events. 1t
will strengthen the feeling that we still belong
to one great family. 1t will place US on
height the Cvntederates can never reach. Ii
shows that we arc able TO carry on the war
with solid capital, and not compelled to resort
TO notes OF insolvent Banks, or TO the Quixotc
scheme Of Gov rnmenI taking to itselflhe en-.
tire crops and products Of the people, to find
ma'ket Tor them If it can, and, if cannot, TO
be without available means altogether There
10 no doubt that the condition Of tho South is
already well nigh desperate, and that fear md
frenzy alone keeps up their organization. We
pFSfsss 10 DO centending for a principle: but
IT, wnA eur vast superiority of numbers, we
we're in the pos ton of the South with respect |
ts msans-lf our Banks were without specie
az we were Gu Oft tom the sea, and # our Sec. !
veiary OF the Treasury, on visiting New York /
for money, had been compelled 10 return penni- I
less-we should give over the contest as hsDe.
Ioss. however much 1t might mnrtIfy our pride !
or destroy the hopes we had entertained of our /
future Career. The South are really IN worse
condition in respect 10 their finances than we
can picture TO ourselves. Time will suon BEGIN
to tell whh fearful efSct upon their o ganIza.
ton. An Army mnstbe regularly paid and ted,
ar Il will not long remain an Army. il will
one day tumble 10 pieces like rope OF sand.
We shall then begin TO wonder that such an
inevitable event was not more clearly fureseen. II
The conduct Of Mr. Stephens, Vice. President
OF the Confederation, IN wandering about from
cnuniy to county, soliciting Contributions to
ers raise is enough TO show that il IS on Irs last
legs That such Intrlbutlons are solicited
proves that the rebels have no money. Ifihey
should be made to any cons derablc extent.
they would not help 'h"ir case. as they could
not be turned INTO money I'LL We were driven {
from the command of the sea. i
The action OF the banks is the grand vic 'ory I
0f the war. II has accomplished more than 5
military success. IL will greatly assist in put {
ting bus ness OF The country on it's feet The
VaSl expenditures required will set thousands
up N thousands at work. and create an active
demand for all kinds of produce Such de
m Ind will act as powerful stimulus 10 man
Ifactur'ng and trade. In The present or CHS.
such a stImuluswas the thing, above all others, .
Ihat was needed Tue progress OF our arm,
"ill enlarge We areu Of cur truds to ITS old II
Boundaries. We must not only conquer peace,
bot we must conquer back the commerce of
he country.
The credit given to our Government BY the
IctIon OF our capitalists, will have favorable "
nHusnc" upOa our relations with foreign ma. "
lions. They will soon begin 10 ma Ike lnves, St
nants IN our great lean. thus proving 10 their l.
'wn conviction that the grand Republic SUI 4"
survives in ali it's vigor aud strength Go'd
Will still come forward IN exchange for rnr
'ecurItles. We shall continue to keep them =
y '''"'" -
'ur debtors by the immense crops We are raIs- f,
ng, and which Will all be wnnied abroad al g
food prices. we shall soon begin To show TO al
Eng land that The success Of our arms Ia The u,
MY thing that will give her the next cotton ),
r"p Out of pure telfrhne.s she will sos o.
- aa God speed. For such victories as these
We are to be indebted mainly 10 our capital
o our inherent strength. Ia fact the most i'm
'or'a"' part of the campaign has been fought v
q New York, for with an Abundance Of money n
verifying beyond is easy aud plain.
GEN. LYON.-The death Of this brave officer u
las thrown gloon over the victory Of the 10Th.
rIllIaat and memorable es u was i
Gen. Lyon was born 10 Connecticut. of a