The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1861-05-30
1t has been evident to those who b


this time or to take measures for the immediate
ganization or arming of the militia.
.--=-------=--
1t has been evident to those who have not per-
mitted themselves to be carried away by the wild
excitement of the moment, or to be frigh 'ened
by the terrible denunciations of the maddeued
people of the North, that unless the latter were
utterly false to every principle of their nature the
spirit Of liberaty manifested by them in contrib
utng TO the support of the Administration, dur
ing the first moments of their frenzy, could not
possibly be of long duration; unless indeed it
babe fair to promote their pecuniary interests as
well as to rebound to their glory. The Ethiopian
cannot change his skin, nor the leopard his spots
neither the capitalist nor the money changer
so far forget himself to naugurate line of pol
icy which does not promise profitable return, or
to pursue it, after he is convinced that it must
eventually end in heavy and irretrievable loss
Although the tremendous burst of enthusiasm
with which gold was lavishly poured into the lap
Of the Government by State Legislatures and pri-
vae individuals may, for the time, have deceived
the multitude into the belief that it was the effect
of patriotic loyalty, still, to the more careful OBJ
server, there were symptoms of method in the
madness which would soon make itself manifest.
Remote from the actual scene of strife; unwilling
to believe in, and blindly refusing to study and
learn the real position of affairs in the Southern
ConIedcracy; struggling to retain control of the
revenues of the South, which they had fat
tened and grown rich, it was but natural for the
supporters Of the Administration to resort
to what they considered the best method of
III tlp Sbort nd
10 adopt the most decided measures 10 put an end
to revolution, which, if successful, must prove
Of incalculabe injury to them. Jobbers, whose
chief trade was with the South, came forward
with large offers of money to the aid of the Gov
eminent, in the hope Of retaining that trade or re-
restoring it to its former proportions Large
property owners literally opened their pock-
els in the expectation Of forcing business
once more into its old channels. With
the one, with the other, it was q mere
matter of speculation. The former were actnated
by desire to continue tn cir old profits the latter
by wish to retain their rents at the old rates
Each looked upon it as an investment which was
in due time to yield its return. 1t has required
however, but short time to open their eyes to
the erroneous opinions upon which they had
based their calculations. The Administration is
perfectly aware that it is no longer a matter of
short and speedy subugation, but that on the
contrary there is at this moment in Virginia ready
to defend her soil, larger force and one in every
way better prepared than any that can be mustered
to invade her. 1t is not blind to the fact, that
before great while, so soon as the defences of
Virginia, now rapidly progressing, arc in a state
Of completion, the Confederate States who will by
that time be fully prepared to take the offensive,
may determine TO make an immediate and effective
blow, for the purpose of conquerng a peace
which will not otherwise be granted. Unwilling
as they may have been to realize it, the full ap-
probation of their position has forced itself upon
the party leaders at Washington, and is
evidently understood by the CAPITALISTS of the
North, who are beginning to comprehend that tits
no longer the continuation and extension of their
Southern trade, TO which they must look, but to
the preservation and development of what is left
them at home. No matter how DESTROYS thew NAV |
be OF exercising the same fathery protection over
the South that Great Britain extends TO Hindos |
tan and offers to China; no matter how willing |
they may be to massacre one half of the Southern
people, IN order to furnish wares to the other, the
scheme is neither practicable nor profitable |
one The game will not pay for the candle, and |
the liberal contributors of the North, almost to a
man, refuse further support to their Government,
except at remuneratve rates. Loyal bankers have |
been threatened and patriotic citizens have been
coaNed, and still the Administration has not been
enabled 10 obtain subscribers for the whole of the
S9,OO0OO0 loan authorized by tue last Congress.
The capitalists of New York who are of all others |
most interested in the restoration of the UNION, |
II Snch th'ng were possible, and upon whom
the Government chiefly relics for aid, New York
beng the great banking centre of the country,
nave only been willing to bid for Sc, 300 900 |
United States bonds at the rate of from 50 to SOL
One patriotic individual offered SO for the paltry
sum OF -, 600, and one other bid for SIC, 900 |
at Soi but with these two exceptions, the |
Secretary was obliged to award the bonds at
ABOUT 90, lie government in other words, being |
o'i'geu 10 pay hf'een dollars every eighty-fve,
premium OF about III per cent The Phadel- |
phians ana Bostonians, Influenced, but not alto
gether blinded, by their fanatcal feelings, put in |
bids at an advanced rate, averaging from So to |
88f. They were, however, sufficiently prudent
not to commit themselves for more than about
u.
PLANE, more patriotic than other citizens, did bid
SO for the enormous amount Of 81 600, but even
this patriotism it will be remarked is seven per |
cent. below par. The opportunity afforded to
enthusiastic private individuals to manifest their
appreciation of the course of the Administration |
by taxing treasury notes at par, met with poor |
return; one HIGGINS took $780, but this profilse |
hberality was eclipsed by that of MARY SANDER
son, who subscribed for SI5o. Resides these
there were only three other subscribers-one for
81 600, one for $4,000 and one for $40 Ooo tho
latter being from Chicago. S5l5,oo vrero ,o1,o,,
by the various banks of Providence, and S1Ao ooo
by the banks and bankers of PHILADELPHIA. those
most inveterate abolition propagandiss showing
themselves most determined in a very small way.
to endorse the action of the Government The
total amount taken of notes which are in fact
united States currency-and which are always
receivable by the Government, at their nominal
Vaiue with the addition of interest from the date
OF their Issue, in payment of duties or
otner oueS-ooes not amount to 500, 600.
although the people were called unon
to take up the whole 50, 900, 600 in small amounts
In the course of few weeks Northern na,r;ot;,r,
has gotten to be regulated by the prices Of tha
Stock Board, and has already fallen to discount
of twenty per cent
|
Everybody recollects how Brigadier Genera,