Pomeroy weekly telegraph. [volume] (Pomeroy, Meigs County, Ohio) 1860-1866, 1861-09-13
success Of the National Loan.


success Of the National Loan.
This country has neyerwitnessed such
a change as has come over the minds OF
the people in 9 few short months
Nothing could 50 clearly show the con-
fdencc of the people in the ability Of
thesGovernment toS maintain the integ
rity. of the Union as the alacsity with
which the money is advanced on the
National Loan.
\ few days before the close Of Blu,
+ chanan Administration, it become ne.
cessary to raise eight millions Of dollars
to carry on the Government through
the last week Of that Administrations
But the money could not be borrowed
upon any terms. Secretary Dix wrote
to the Governor and Legislature Of Ohio
and other Free States, begging them to
indorse the bends of the United States
SO as to enable him to borrow the
money Olio, New York, Pennsylva-
MIA, Massachusetts, Illinois, and other
States promptly responded, and pledged
their respective States for the payment
of the nWall sum desired. But such
was the want of confidence in the Gov
crnmcnt, that with this Endorsement,
the bonds were. sold, VIC believe, for
eighty cents on the dollar,
\ few days later Gov. Chase took
charge of the bankrupted Treasury
Seven States hid seeded, aud others
were about to go. The public property
had been seized, the Sub Treasures
robbed, the mints plundered, the Army
and Navy filled with Traitors, and scat
tered beyond the tclch of the new Ad-
ministration, and debt of one hUndrcd
millions Of dollars contracted and the
credit Of the Government hopelessly
sunk, and the war, for which the Trait
ors had been SO long preparing, about
to burst in fury upon the country, thus
betrayed and paralyzed. .- s.
From this state of things, which ap-
palled the bravest hearts, am1 clouded
the brightest intellects with impenetra-
BILE gloom, Secretary Chase has rescued
the country, until now, with such ar
mics as modern times never witnessed
mustered in the field, and with the des-
tines of millions hanging on the contin-
gencies of a day, he appeals to the cap
ital Of tile country: not for eight mil
lions, but for t,co hundred and ftiy mil
Eons Of doHarst And what is the re-
sponse? The States are not asked to
indorse bonds, but such is the popular
enthusiasm to take the loan, that all
the force in the Treasury Department,
and the Sub Treasures, cannot count
the gold as fast as it is offered i'll ex-
change for the bonds! Such is the rush
to furnish the funds to the Government
by the people, that the banks of the
Eastern cities have been employed by
the Secretary to assist in receiving the
money. The loan will all be taken at
home, and by the people, and the Gov
crnmcnt will be supplied with all the
money needed to carry on the war with
out any appeal to foreign capitalists at
ALL. f ta.
Such a scene was never witnessed be-
fore,> and proves, stronger than any
other fact could, that the right man is
liz til ri gilt place for once, and that the
country has come to appreciate that
fact. With such n manifestation of
confJsAte in the stability Of the Gov
ernment, no man has Il right to dispair
of its success over its foreign; as we'll as
its domestic foes. Nothing shows the
strength of Gey ernment so a7snistak-
ably as the willingness Of capitalists to
invest their funds in lbs stocks. And
never since its origin bag thsHe been a
time when the. United States could have
gone into the marts of the world, and
unlocked the vaults Of its capitalists, as
at the present moment! This conf
dence in its stability, and faith in its
bonds, makes the success of home born
Traitors and foreign foes alike an i'm
possibility. The success of the Ma
tional Loan is, in itself, the guarantee Of
the success Of on arms. The- dawn
breaks! The night will disappear.