Daily Nashville patriot. [volume] (Nashville, Tenn.) 1860-1862, 1861-06-11
, tho aefs,cs. Of v;ro;o;. now :

as the defences of Virginia. now rapidly pro
crossing. are in state of completion, the
Confederate States, who will by that time be
fully prepared to take the offensive, may de
termIne TO make an immediate and effective
blow, for the purpose of conquering a peace
which will not otherwise be granted. Unwil-
ling as they may have been to realize it, the
full appreciation of their position has forced
itself upon the party leaders at Washington.
aud is evidently understood by the capital
lists of the North, who are beginning to COM
prehend that it is no longer the continuation
and extension of their Southern trade to
which they must look, bu to the preserva-
ton and development of what is left them at
home No matter how DESTROYS they NAV be
OF exercising the same fatberly protection
over the South that Great Britain extends to
Hindostan and offers to China; no matter how
willing they may be to massacre one half of
the Sonihern people in order to furnish wares
to the other. the scheme ia neither practi-
cable 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 Govern
ment, except at remunerative rates. Loyal
bankers have been threatened and patriotic
citizens have been cOaxed, and still the Ad-
minlstration has not been enabled to obtain
subscribers for the whole of the SO 600. 900
loan authorized by the last Congress. The
capitalists of New York, who are, of all
others, most interested in the restoration of
the Union. if such thing were possible, and
upon whom the Government chiefly relies for
aid. New York being the great banking centre
of the country, have only been willing to bid
for 6 800 900 United States bonds at the rate
of from 81 to S6B. On patriotic individual
offered So for the paltry sum of $1,000, aud
one other bid for $4,000 at 80; bat with
these two exceptions, the Secretary was
obliged TO award the bonds at IS The gov
eminent, in other words. being obliged to
pay fifteen dollars "n every eighty five, a
premium of about III per cent. The PniIa-
drlphians and BOsIOuIans, Influenced. but not
altogether blinded. by their NAUTICAL feel
i0gs, put in bids at an advanced rate. aver
aging from IS TO S84. They were, however,
sufficiently prudent not In commit them
selves for more than about S550000. la ad-
ditiOn to these, one ID. DelapldIn-, more pa
triOtic than other citiz n, did hid SO for the
enormous amount of $1,000, but even This pa
triOtism, it will be remarked, is seven per
cent. below par.
The opportunity afforded to enthusiastic
private individuals 70 manifest their appro-
bItiOn OF the course of the Administration.
by taking Trea ury notes at par, met with
poor return; one higgins took 500, but this
prOfu>e liberaliIy eclipsrd by that of
Mary Sand rson, who subscribed tor $50.
Brsides these, there We're only three other
sub cribers-une fur $1,000, Que Tor $1,000
and one i"r $4,000, the latter being from
Chicago; S5l5 QUO were taken by H. various
banks Oh Pr"vid nee. and $40 900 by the
banks and bankers of Philadelphia. those
most inveteraIe Abolition propagandists
hOwing themselves mos deter mined in d
very Email way. To endorse the action OF the
Government. The toral amount taken of
notes which are always receivable by the
Government, at their nominal value, with
The addition of interest from the date OF their
issue. in payment of du les or other dues
does not amount to $4,000, although the
PEG lie W. re called upon to lake up The whole
So 900 900 in small amounts. In the Course
of d few weeks NOIthrru patriotism has gOI-
ten to be regulated by the prices of the Stock
Board, and has already fallen to a di-cout oil
twenty pei cent.