New-York daily tribune., 1861-08-25
PKCuuARY PLUCK.


Iof ,n ,vas set dancing before him. to be realized
from Mexican or Mississippi bonds, with the con-
fising alternate OF choice Florida, no "ou' :"
with a most undisnifed lcoseness, himsei' oanc'
inc over the productive future. Lest any -sims1er
,nts,nrststion should be given to tho foossness
u.s.rred to LET il be understood az indicating
i,ooss,ess of casb Johns movements afford eTi;
asoce Of his being constantly under the influence
Of powerful pccunary catbartic He Bpursy
aud plcthoric; apope1y might supervene without
steady drain being kept up. But his parsbess
continues to increase, no matter how-exhaustIng
the drain may be. You cannot make him poor
Though his debt is frightiul to contemplate, yet
hs wealth can hardly be estimated. His pluck
is au,azing. When fighting Napoleon, Cooso'
iel to AZ, and they rose or sunk at the news of
every battle, just as our securities yibrate now.
Yet he went in and bought with oil the money
be- could raise At that prico his three per cents
expanded into six. the goal to which all his
weaknesses tend. His confidence in the stability
Of Government never tagged. He suffered awiuly
in pocket. but he was game to the last--his
pluck saved hiw. Events justified hun. His
Consols went steadily up to par, and as Napo'
( leoDic arrangements have never been experienced
since, so prices have never been hammered down
! 10 The Napolecnic level. All this has happened
Wh,lv debt was being piled up with the certaioty
ri it. never being paid.
Bull ls yet sore touching his ten per cent in
Fiorlia aud Mississippi. 1t is o black spot IN
bis nenOry. Yet his gigantic purse has suffered
40 collapse. Ever since the disastrous advent
of shameless reputation, be has hankered aiIef
| American six per cents. He invested millions ci
| his denominations in Southern railroads, any
where outside Of Mississippi. He furnished tie
means by which most of those in the entire
West were constructed. HIS stake in Erie is
| eportaous, and is be not the principal owner Of
it. twin e,ant, the Reading He holds the first
| iieiis on Camdcn and ADboy, and where would
b.. the magnificent Illinois Central without bin /
| Every where over our coubtrI has-he scattered
| glineas broadcast o, ready to lend ms we have
| been impatient to borrow. They have opened
ya.t al deposits in Pennsylvania, dug canals
| drst aud built railroads aiterward over which
| the,r products might be borne to market. MI
| mons Of tans have been mined and consumed Ia
consequence. They baya opened gold mines in
L
enterprise suggested by American genius has In
| some way been stimulated or susta ned by Brit
| an capital The stinrlabt was six per ceut
When bonds motured, AMI it was incOnyenlent
10 pay, has extension ever been refused when
the inevitable fix per cent was made sure 7 The
asst three years around in Instances of the kind,
Tor British capitalists are as conhding az they
are pucky Thsy have potent reasons for their
sturdy confidence 10 American sbllity 10 pay,
notwi aadug the blot OF occasional repudia
| tiou. rhey know that reputation holds e1clu.
siye iello sship with Slavery; that all the North
borrows is for useful objects; that Der interest
IL paid " the jay: and, iuo,Iy, that the Ma
siosal Government has repeatedly discharged
every dollar Of its Indebtedness sometimes be-
tore maturity, and within three years at pre-
muum of Is per cent. If repudiati,n be
.n,ong the monsrcbies. such liquidation ia utter
| iy unknown to their history.
| If The nations which never lquidste find no
| difficulty in borrowing, the OILY one that does
| cannot be refused when she asks. The memory
OF our upexampled ability will be imperisbable.
! When The London Times, therefore, seeks with
| grstultous righteousness to destroy British conf
4 ~
| Glc Englaud has time and again invested mil.
1 lions in Ame lean securities AT tue moment that
| our panic-stricken holders were foolishly saci-
l icipg them. Her confidence in their value stood
| firm when our faith had vanished. What must
| t 10 now, when she that the millions de-
| Inanded by Government have been i0stantly fur
nished by ourselves, and that, too, from cohers
made OVERLOOKING by a steady drain upol her
l cwn Add to this the fact that at 10 tlme in
\ 0ur history has the Government called for
enormous sum at once, coupled with the certainty
i that double the amount will be needed, and that it
was not only promptly subscribed on highly al
| ya,,tageous terps, bat that assurances were
| cured for the supply Of future wants, ard the
last prop on which the typographical bully has
leaaed is knocked from under him. But Tie
Times forgets the pitlablo depreciation Of COnsos
10 A. and carefully cOnceas the strong fact that
even at our gloOnest era, Government securite,
never even approached 80 rulbogs q minimum.
| If the threatened invasion Of one Napoleon 80
| nearly wiped out the value Of COlsols, 1t may be
well for Tie Times to remember that another
Napoleon, more powerful than bis predecessor.
bolds within bis grasp tue means Of extingushing
that value utterly and forever. 1t warns tho
British public against American reputation.
But it dshonorabIy iuputes to the Nation the
| crnss committed by States over whose pecuniary
nconiDgs and outgoings il knows there has never
been any controlling power beyond their own. II
conceals the historical facts which prove Great
Britain TO have been ga sWindlipg a repudiator