Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1861-11-18

AaNAAAA tN~NNa NAa AAaHHA aA=N-t
Ever since the rebellion broke out, the i.jn-
don Times has been persistent in ita efforts
to ipjure the credit Of our Government for
she sake Of enabling It's owners, the Roth
sohilds. TO realize few pounds In dabbling
IN American securities. For this purpose it
has sent L L. D. Russell over to report on
the war, and, 70 use the language Of en- intel
ligent Engliah gentleman, TO state the truth
when il can be used detrimental to tne North,
and to suppress the truth when Il is opposed
to the South Mr.. Russell has made many
misstatemsatS some of them the rankest
kind Of bald ialsehoods, so much SO that his
letters now receive scarcely any attention eE-
oept that Of contempt on this side OF the
water.
In one Of his letters, Mr.. Russell endeavor-
cd to convey the impression that it would be
impossible for the Government to raise loan
either at home or abroad, and that it would
of necessity have to Hueoumb and recognize
the Southern COnfederacy, sooner or later.
How correct this statement Of selfOpinion-
stod dsvotes Of John Bullism is, our readers
can judge for themselves, when they consider
the esse with which Mr.. Chase raised two
hundred and 6fty millions BY loan.
The London News, a paper of far greater
reliability, though not backed by the wealth
of the Rothschilds, has the following sensible
remarks, which are directly the reverse of thi
statement of the "licentious Times" and L
L. D. Russell
"All The eTertions of the nation have tended
10 place it In possession Of funds for thI
emergency. With this view, everything sale
able has been or Is being sold, while compar
atively little is bought. It's the grand ain
of America TO keep her funds where they ar
at present most urgently needed-at home
IN this object she has completely succeeded
The News then shows, by means Of stats
teal tables, that the results of nine menths
import and export business produce a differ
ence in favor Of America of f2Ts1s, 900, ant
adds these comments;
''These figures denote srevolution in Amer
ican tradsof almost as remarkable charactei
as the attempted revoluti5Q in the politicR
world. As we have repeatedly pointed out
America is selling of her commodities, stor
ing up the money, and vigorously cutting Of
every superauity. And when we say Amer
ica, we mean the North--for the statistic
cited refer 70 the great emporium of Northern
trade. It is the North that gets the benef
both Of the large saving In foreign expendi
ture and Of the rapid influx Of money which
those statistics denote. This is, iudee1, pat
ent upon the very surface Of things for, a
all the world knows, the wealth Of the Soutl
consists in its crops of cotton, tobacco AMI
rice, which are now sealed up. As It Is no
possible 70 pour them into the markets of thl
world through the blockaded ports Of th
South, they remain in the interior, inconvert
ible, and for the time, almost as unavailable
as though they did not exist. This show
the vast commercial and financial edvantag
enjoyed by the North. It is tr1e that tn
South, like its antagonist dispenses with for
eign commodities, thus saving large sum
but far more than this is required. For tn,
South to be put in funds there must be no
only saving, but great iat7lrz Of money
From this it is utterly debarred, ct the very
time when the North hurries forward il
grain and other produce to foreign markets
receiving in return the sineWs Of war.
- But even this is no
all California must be taken into sccount
The receipts from that quarter in the Mint
months have been 5,441, 900. Adding t,
this sum the ss,27g,O0O imported from
Europe and elsewhere, We find that AmerieI
must possess at this momert sl3, 7I2,00
more Of the precious metals than she held q
this date last year. This is why the money
markets Of Europe were SO much disturbed
and why gold accumulated in the New Yorl
banks and in the other American oeposito
ries, whilst the stocks in the banks of Eng
land and France declined heavily. borrower
apart from all considerations Of patriotism
l0s have here ample explanation of ths Tsmarka
ble TeadiRess lOith lOhich TIE AmsrieGR tcaker
and public have hitherto absorbed the vas
masses Of Government paper crested for the
purposes of war"