Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-07-04
COMMERCIAL.
Monetary and Commercial.

WEDNESDAY EVENING, July 3, 1861
The excess of idle capital continues to be the
leading feature in financial and commercial circles .
says the Boston Advertiser of the 10Th alt. The
Banks are full of money and very anxious to lend
on safe security" says the New York Herald of
the same date. And yet the LINCOLN Government
is sorey puzzled as to how to raise the means with
which to prosecute his war of suhjugation against
the South and the projects for supplying the Trea
sury are almost numberless. The latest agony 4"
is that of Secretary CHASE himself, which Is com
municated to the New York Times as follows:
First-A popular loan referred TO in my dispatch
day or two since, in sums of fifty dollars and up
wards, bearing and three>tenths per cent in
terest. 1t is believed that the patriotism of the
people in the various cities, towns, and commune
ties Of the country will prompt the taking in the
way Of all that viii be required by the Govern
ment and the rate of interest proposed renders the
calculations OF the simplest character. Thus, fifty
dollars would be cent per day one hundred
dollars would be two cents per day one thousand
dollars, twenty cents per day, and so on The hon.
est mechanic, operative or farmer, possessing the
slightest degree of intelligence instead Of packing
his hard earned dollars away in q stocking leg, or
hiding ii in the stone wall, because of fear to risk
it in the bank of being cheated out of it by the
financial sharks easily that by depositing
with the specified agent Of the Government it viii
and at the same time they will be rendering Valu-
able service TO their country.
Second-This plan, not favored 90, tmuch by Sec
rotary Chase as by other members of the admins
trati9n, is for foreign loan. There is undoubtedly
q policy in this which is apparent to every one and
is no doubt wise. the plan succeeds, it will ex-
hibit the farsightedness Of President Lincoln who
proposed it. The opinion ia that such & foreign
loan can be obtained at an interest Of from to
per cent
bearing something like half the interest of the first
of the above named plans. 1t is argued and be-
heVed that such notes would enter largely into the
circulation of the country.
The amount of money to be asked for viii not
exceed two hundred and ffty million of dollars
and it is believed now that sum can be reduced
twenty five million. It is confidently expected that
with three plans thus set forth the amount Of money
required can easily be obtained. The best assu-
RANGES of this have already been given by repre-
sentatives Of the money power Of the country, and
by those who reflect in the truest sense the real
sentiment and wishes of the loyal people.
As remarked by the New York Ns,os the problem
is to squeeze money out of the public for the main
tenance of the war, and the operators seem to fol-
low the advice of old Izaak Walton, who said when
a frog is impaled for bait, "hs must be handled as
though you loved him. The Neos has the follow
ingIremarks in connection with this subject, which
will convey to the reader idea of the ruin and
desolaton which awaits the North as the result of
its sanctiOning and unfolding LINCOLN in his mad
and fanatical war upon the South
The portion of the people who do not fight are 10
pay the expenses of those who do, and that to
pretty round figure. As a large portion of the
money IS TO go into the pockets of Jobbers and con-
tractors whose patriotism finds profit in a war ex-
preston Of it, the tax payers must be put under the
influence Of ehloroform projects. That the nation
was, six months ago. immensely rich, there can be
no question, but it was because the people were
productivity employed, and capital circulated free
ly. Every means of revenue was active. Labor
was sold TO advantage, and the proceeds furnished
comforts and Injuries to the emplOyed-rents were
paid, goods purchased travel frequent and real es>
tate, banks, insurance companies, railroads., ships,
every description Of property, yielded the owners
an income which they disbursed to the general ben
eft Of producers Of food and manufacturers of
goods, and every portion OF the community pros
cred in the active circulation of capital
The approach Of war has stricken ali with para
lysis The whole circle Of operations i brought to