The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-03-25

IHE SECOND lNSTALMENT OF THE TWENTY
FIVE MILLION LoAN-WHAT Is WANTED WITH
yHE MoNEY.-It is curious coincidence that
on the same day on which Mr.. Chase, the
Secretary of the Treasury, issues his call for
the second instalment of the twenty five million
loan authorized by Congress on the 9Th Of Feb
ruary last, he issues also circular giving
directions about the Morrill, tariff, which comes
into operation on the LIST of Anril-dirAntions
which are about a. incomprehensible as the
tariff itself, and can only render the confusion
worse COMPOUNDED. The edict about the new
tariff is destructive to the success Of the loan.
An administration organ in this city declares
that under this tariff there is no prospect of
revenue to render the loan SAFE" whilst
another organ of the government here an
nounces the intention of Mr.. Lincoln to rein
force Fort Pickens forthwith, no matter at
what sacrifice of life, such reinforcement to be
followed up by the landing of an overwhelming
force Of militia to defeat all the troops the Con-
federate States may assemble on the sands of
Pensacola Bay.
This announcement gains confirmation from
the fact that the two frigates, Wabash and
Roanoke, are ordered Immediately to sea from
the Navy Yard. Another confirmation of the
war policy of the administration is to be found
in the character of the men appointed to office
men of the most extreme abolition sentiments,
such as Joshua r. Giddings, who would think
he was doing God service by cutting off the
heads Of all the shareholders of the South; and
we have no doubt he has often wished, as Nero
did of the people of Rome, that they had but
one neck, that he might get rid Of them all at
one fell stroke.
1t is under these circumstances, and whilst
the English press proclaims that the Morrill,
tariff amounts to . prohibition of imports to the
United States from Great Britain, France and
Germany, and whilst propositions are being
made in the British Parliament to recognise
the independence of the Southern confederacy,
our insane government are calling for loans to
help them inaugurate civil war. Such faulty
is without parallel in the history of any civil
lied nation. Who will be so mad as to advance
them money for so criminal q purposea VIII
those who have money to lend risk 1t under
such circumstances; and even IL the loan were
secure, Will tnfy icnu deu uiu W uecsIOy Tic
land of their birth and make blood flow like
WATER
Some of the republican journals are calling
for an extra session Of Congress; but the radi-
cal paper Of this city which reflects most accu-
rately the opinions, the principles and the poll
cy of the government, holds that II Is not neces-
sary. II says
II tho law Of the Une States that the United States
authorities shall hold the United forts Resistance
to hostile military force attacking Thorn Is the only
mode OF enforcing that law; and thus under the criirg
lao, the Prcsde2 can act with0w calling Cc.uess together
Lest Congress, when assembled, should, like
the last Congress, refuse to sanction coercion,
II Is deemed best that the Presid9n himself
should take the responsibility and his Secretary
apply to Wall street for the sinews Of
war, which must be furnished on the I'd
of April, the very day after the new tariff
comes into operation. What answer Wall
street will make to the proposition remains to
be seen.