Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1861-08-19
wAeINa WAR UNDER OBSERVATION-DISCLOSURES.

| CANT CONFESSIONS OF THE ENEMY.
The articles sutjoined from the New York Herald
of the 18Th. They indicate either that the shrewd
Scotch Yankee, who prcsides that Journal is ge
ting very tired Of the war that the war itself is ap
proaehiDg grand collapse. But, let us bear In mind
that the best way insure the latter result to
double exertions, and crowd down on the en-.
envy with such q momentum that he will have no time
10 rally bis scattered and paniestricksn cohorts.
| From the Nsp York Herald Of 1871.
TIE kILIriRY EsrausIAsx DEAD.--A Govrssnr.1
ORGAN AoKsowLSDGIse rHr CoRs--An organ Of the
Administration, in this city, Of small circulation aud
large patronage, makes the following announcement
| Recruiting for the army here "a dead-virtually
dead. There Is rendezvous In Cedar street. one In
Chatham street. and Ia Hudson street-a for the
old army-snd these added but fifteen men to the
vice last week. Every recruit brings the who
"ensted him two dollars, and house rent and the sup
port aud pay Of recruiting parties 20 to make the
psuse of the newly obtained soldier douby dear to the
| Government Each rendezvous costs at least $500
month"; and Of course, three rendezvous cost $780,
"This makes each individual cost over sl5 before he
eats his first Government meal.l
Now what Is the cause OF this 10 city ia which, three
or four months ego, the hime Of military enthusiasm
burned 30 fsfcsly' 1t is owing 10 two causes. The
6rst is the treatment OF the troops They have been
cheated In their clothing n their food 10 their arms In
their eQuipnontc, ID genefhis
The lobby jobbers have become patriot obbers aud all
the committees aud commissions, State and Federal sp
pear have combined TO rob the soldier One OF these
committee In its official report, admits the plumber,
aud the Union Defence Committee OF this city has never
dared to publish the accounts This Ill treatment Of the
troops together with the fans;cism which attempted TO
peryert the object OF the into Of abolition, has
resulted in the disaster of Bull Run The troops, once
10 enthusiastic have returned detected and disprited,
aud they 20 about the city exposing their suengs aud
/ the consequence is recruits be obtained The
Journals at the North have been 10 the habit Of de
scrbng the Southern troops half starved half naked
and badly armed. But those who fought them ut Bull
Run new tell different story. What the testi'
mony Of Gov. Spsgue who bore the brunt OF tue bat
tie, In bis address 10 the Rhode Island Legislature,
published in Sundays Herald he says:
"The war will OF necessity be = long ona. We have
been n error a. the strength Of the enemy and as TO
the long and persistent course which has been pursued
by the South tending towards this point while We have
been occupied in our business they have been creating
| " revolution. We under the impression that they
were lacking IN all the which 60 10 raise aud
maintain armies. Whereas, Ia almost every Particular
1--WE have found them superior 10 ourselves We have
foundnot only the physique OF their men equal to ours
bu their clothing, their arms their subsistence ana
"their means of nsportation-eyerythng that goes
| "to make up military neutrality-suspicious. to ours."
Nov when |, is considered that the Confederate gov
eminent Is without money credit and that the United
States government has both without: limit what can be
more shameful than the fact that the colhing OF the
Southern troops their arms their subsistence and their
means of transportation that goes TO make
up military ecency-are superior to ours II this game
ia played much longer il will be played out, and
might as well at once stop the aud acknowledge the
Independence Of the Southern Confederacy There II
heavy responsibility incurred and unless there Is speedy
and sweeping REFORM men in high places will yet have
to indignant people for the wreck oil the
republic.
THH FINANCIAL DIFFICULTY.
In lie commercial article Of the issue the Herald
tells Of visit Of Secretary Chase to New York for the
purpose Of insncering loan among the bankers and
capitalists of that metropolis The difficulties with which
be met thus set forth.
"The bankers met again this morning TO receive the
report of their committee on the subject OF the govern
ment Loan but the committee through their chairman,
Mr. Stevens stated that they would not be prepared to
report till Wednesday and the bankers meeting adjourned
TO that day. In the course OF conversation W. the
bankers OH Saturday. Mr. Chase stated that the govern
nent expenditures the present time we're not less than
million dollars per day. and that he deemed for the
interest of the banks OF every other class OF the com
munity that this should be provided. The practical
question therefore, which Mr. Stevens committee have
ia hand Is how to raise hundred aud twenty million
dollars bet this and the meeting OF Congress- II IL
evident that banks cannot take bonds or notes
10 this amount unless the public will take them OF their
hands The entire loans Of the New York banks ut the
present time are less than s2O OO0 to double them
without proporonate increase 10 specie capital and de-
oosts, would ultimately compel the banks TO suspend
specie payments II il could he made plain that people
will take Treasury aud United States bonds OF the
hands of the banks then there would be diff Guilty in
floating more than $780, ZOO. But tho trouble IL
hat by the Loan act OF last session, the notes and
bonds cannot bs sold by government Gnder par To
save themselves therefore, banks subscribing to govern
men, !oaD feJpie 10 Kess 10 the public nj par, sud, 10
al az Ihia Ia eaiculgtfd
20 tempt bankers to subscribe literally Tbey are eI
pected to lend money aud TO Incur specific risk with
out any corresponding remuneration or prospect Of
profit We trust that Mr. Stevens and his committee
may be successful in devisng scheme tor supplying the
government With money. The bankers OF New York
are as a body, ardenty attached TO the government
and jealous In support Of the policy OF the present Ad
mnistaon. IL is their heartfelt DESIRE AS well a. their
oh sious interest that government should get all The
money il needs But IL Is due TO truth 10 say that the
ignorant men who framed and adopted the Loan act OF
las. session undertook to borrow money without pay
log for il. Their ignorance was so enormous that
they did not know that the value OF money huciu
aes like that OF any other commodity; and their
obsnlcy mosrous that they would not correct their
error though they were repeatedly warned OF It's fa.sl
consequences ia time Had they struck out the cluse
In the act prohibiting Mr. Chase from accepting bids be-
low par for per cent be would have got oil the
money he needs, az rate which would have been
measure OF the general public confidence reposed in tho
administration Had they left Mr.. Chase free 10 pay any
rate of interest he deemed fair Treasury notes. he
could have borrowed afuy millions month"; by calling
for bids from the public. As Il s the government has
no money Mr. Chase does no. know where 10 get any
ii banks sse no chance OF profit and prospect Of
losa in loading themselves with Treasury notes and the
publc Disguised At their money being demanded OF them
al rate fixed by the borrower alone, hang back aud
eyince no anxiety operate IN government secures.-
We trust that the ingenuity aud patriotism Of our bank
may contrve 10 extrcae the government from the
pfedicameu in which the ignorance and htuy oil Sena-
sor Fesenden aud the majority OF Congress have placed
t. Ii they fail Mr. Chase will probably appeal directly
TO the public for subscriptions to national loan II
successful this loan would prove very Injurious use
mild term-to the savings banks and consequently TO
all the financial institutions Ia the country Whether
tue dread of bank panic caused by the general with
drawa Of dep Dss FROM savings and other banks Tor the
purchase OF United States Treasury notes will operate
10 induce our bankers to deal more literally with Mr..
Chase than the naked rules Of sound business dealing
would dictate, the next few days will show.
The committee referred to by the Herald determined
to recommend loan and the bankers accepted the re-
commentator, condition that the United States gov
eminent shall not issue any other stock bonds or trea-
sury Except treasury notes payable on demand
previous TO the LIST Of February If they take the third
fifty millions, nor previous to the 10Th Of December II
they take the second nor previous to the of 0,to
Der If they take only the frat This Is to prevent the
Washington nanciers competing with the banks In sup
plying the demand for government securities An
cepdon ID made in favor OF the national loan, and by
allowing the governmental sell Its bonds In Europe. The
IT, bAns remarks:
'The meeisg vas largely attended, gohu A. Stevens,
Of the Bauk Of Commerce. presiding. Secretary Chase
was present Three or iour hours we're consumed 10
discussion the question: Ear could learn, being
10 regard to the amount il eIpedient for the banks
10 take at ths time II will be remembered tia. the
total loan called for is $3.50 100000 with tue privilege