, 1861-09-26
G0VERNNIEET EXPLANATIONS
Two Letters from the Secretary OF
State


TIE Two C1RCELAHs.-The letters of the
depart ents, which we publish to cav, are
both OF them timely aud judicious. The In
vettigations Of the Law officers into the money
deposits ofsouthern citizens in the banks Of
the North were producing not few disa.-
trous results. When the troubles in the South
first began, many loyal people, anticipating ex-
treme meaEu7es on the part Of the rebels. had
such fur d. as they could realize transferred to
the North for investment or eafe keeping.
dow much Tas collected in this way we do not
know, but the amount is estimated to be con-
siderable.
But when IN order for the injunction of
Southern property in the hauds--of banks and
Earkers CAME, no little co1sternation WEE pro.
duced among those who had taken steps to
shelter themselves against the Southern storm.
# our money is not safe In New York, they
gave orders accordingly to their agents to puT-
chase bills Of exchange for the purpose OF
another transfer. The Withdrawal Of the
sums, and the sudden rise in the price Of bills,
frightened the bankers, and small panic was
diseern"d in the distance.
There was another prospective effect which
sharp eyes saw, and which WAS not at all
agreeable. The grain, tobacco and hemp crops
Of Kentucky, Missouri aud parts Of Virginia,
are now, or wi1 shortly be, ready for market.
The proceeds of sale, where they are in coin,
would naturally, in the disturbed condition OF
York banks. But under the circumstances
produced By the coufscat;aRs, prudent men
would hesitate to place their money in banks
which could afford them no security in the
event Ct any change in the political position
q those doubtful statea- This money also
At such moment, when the Government
requires al the assistance it can possibly OBJ
tain, any financial disturbance which ID calcu~
lated to prejudice its intsrests BY impa!ring
The condition Of the banks, and dep1iring
them Of capital which would otherwise assist
Fas Of the utmost Importance, both for the
sake Of the Governments success and the
honor Of our tanke, that liberal copstruc.
ton should be given to the ConfiscatIon act
in this regard. If any think that thus we give
aid to the enemy, we have only to reply that
chile the instructions Of the Secretary Of the
treasury leave untouched the deposits, stocks,
&c, Of loyal personB, he authorizes the great
est diligence and ingenuity In Selling all goods
bought within and sent to our frontiers. to be
used ~ the insurgents. Here the police
power has an Important and just duty to per
fo1m, and We shall be the last to complain Of
tte vigilance and severity.
In another letter the Secretary of State is
equally clear and explicit, He replies to the
Petitioners who were foolish enough to All
the Government to interpose its powers
AGAINST the correspondent Of the London
1.as: n the t1Izt place that the individual Is
altogether too Insignificant to require the IT.
tent1on OF the authorities and second, that
It Is not desirable to attempt to edit London
Newspaper from this side OF the Atlantic. Il
the falaehoods and abuse Of the journal in
Question are read in the United States, they
are read IN our own jouruals, Which copy the
stoft. and not in the London 1f,nes, which has
no circulation kere. Besides, it il Of ve1y lit
tie account what they think or eay Of M
Abroad, nc do our duty to ourHeaYes,