The national Republican., 1861-10-24
For the National Republican.
THE CALLED JADE WINCES.

TREASURY DEMAND NOTES ARE DANGEROUS.'
The Ne,u York and Chicago Bank Not, Re.
porter has become wonderfully phanthropic
| all at once. It, or some one else behind the
scenes. has suddenly discovered that the in.
| terests of The dear people want looking after |;
| the present Administration Ia not equal to the
task, or not to be credited for the honesty
| requisite to the performance Of 1t, and accord.
| ingly 1t rushes, in the most magnanimous man.
ner, 10 the resCue, in an article wherein the
issuing of" Treasury demand notes not bearing
any interest in the shape of bank note" Ia
deprecated AS the greatest calamity that can
possibly fall upon us. The Reporter, however,
adopts the temporizing policy of paying most
eulogistiC compliment to Secretary Chase, call.
ing him " the immaculate embodiment of hon.
esty," because, forsoOth, 1t has too much sense
to prefer or insinuate charges against Il man 80
high in public esteem, when 1t has nothing with
which to sustain them. But 1t AYERS that the
fact Of Mr.. Chass's filling the high position
which he now occupies, is only an accident.
(Think of that Mr.. Lincoln! If you have honest
men around you 1t is no fault of yours,) and
the Reporter AYERS that the powers that be "
may possibly find 1t convenient to remove this
immaculate embodiment of honesty" to-.
morrow, or next day, and then what is to be.
| come of the poor dear people? blubbers the
Reporter. They will be in the hands of set of
sharpers, (our Government oflicers,) more ur.
scrupulous even than certain class of Ne,o
| York and Chicago brokers. By the way, we
think II will be difficult to make the poor dear
people believe In the last named fact.
| And now, just here, we desire to refresh the
| memories of those snterested phi hIlanthropists
| who, snugy ensConCed behind the scenes have
prompted This little burst of patriotic rhetoric.
How did the patriotic and disinterested note.
brokers of Chicago, in concert with their allies
| in New York, act towards the people when tt ey
had the game in their own hands last spring,
and were daily throwing out the most reliable
| Illinois houses by twenties and tbirties? The
paper of many ofthe banks which they squech.
ed at that Tina was perfectly reliable. Nobody
doubted the ability of the impugned houses to
redeem their credit. Butthe Chicago magnates
had the thing at their disposal, and they toere
| bound 10 squeeze that lemon dry, let what might
come to the prescribed concerns and the dear
| peoptc-a goodly portion OF whom, as tho hold
| era OF these notes, met with severe losses, from
which many of them have not reco cred to
this day. But who heard anything about
patriotism or looking after the interests of the
public from these delectabe philanthropists at
that time? They will please to remember
these little facts. Now, there is but one thing
| at the bottom of all this simulated anxiety In
regard to the interests of the public, and that
one thing is setiniereSt. treasury demand.
note, bearing no interest in the shape OF II bank
note, does not suit these ers, and they are
| 10 be the heaviest losers by the business.
This they do not relish at all. They can't make
"a good thing out of these treasury demand.
notes." hence their uncompromising hostility
and the shallow pretence of anxiety about the
interests of the public. 1t does not exactly
| please them that they cannot play the grab
game in this particular, and put their hands
into Governments pockets when 1t suits their
good pleasure.
"Woud it take many millions to subsidize
thaF of than nrIa rtpl nv,ln
| out of their liberties," asks the Reporter ?
Perhaps those who are interested in this busi.
ness of Gripping the resources of the Admin
| istration in the present crisis, and bringing its
policy into dscredt with the people, had bet
| ter try the experiment.
The Administration being unwilling to com.
promise for the feeding of the immense shoals
| of sharks, which in past times have preyed
| upon Government, and having inaugurated AN
uncompromsing economy, in order to husband
the resources OF the commonwea ealth, in view Of
| the trying crisis now upon us, has provoked
the resentment of these disappointed specula:
| tion-mongers and ther efore they have banded
themselves together, for the purpose OF Great
Ing in tho public mind a distrust of the wise
| ness of the measures now employed by the Ad
mlnistration, by such cleverly concerted at
| taoks rs the one we have just specified.
| We trust, however, the dear people know at
exactly what valuation to hold these aston.
ishing outbursts OF generous and patriotic in
dignation.
| To any one not actuAted entirely by sOrdd
motives, II thoughtful review of some of the
prominent circumstances attending the late
ratification OF the national loan must be pecu.
liarly gratifying. The eaperneSs, the cheer
| lnlness, the entire truAtfuuess and the want
| OF anything like the guarded caution which
usually governs their proceedings, with which
the prominent banks Of New York aud other
principal cities came forward to negotiate for
This loan, is very encouraging, as it is the