The Burlington weekly hawk-eye. [volume] (Burlington [Iowa]) 1860-1876, 1861-12-28
Secretary Chasess Interv1eyv with the
Now York Banker.

The Bank Presidents met this morning at 10
o'clock, and, after passing resolution declaring
that they would receive no money on special
deposit, sent for NJ. Chase, to hear what be had
to say. The Secretary addressed them at some
length. He referred to the conduct of the war.
ana undertook to promise that, in the course OF
month, events would occur which would en-.
tirely change the aspect of the financial ques.
ton. He had money enough, he said, to carry
MIN through the next thirty Gays, and It would
then be time enough to devise new means. Az
to his plans, he referred the bankers to his pub
i,shed report, Referring to the Mason and Sill
dell question, he seemed to intimate that is
would not be found incapable of solution by
diplomacy or arbitration; and he finally assured
the hanks that, so far from being their antspo-
mist, he was and desired to be their friend and
ally, and hoped that they would cooperate to-
gether for the public good. At the close of this
speech, which seems to have disappointed many
members Of the association by reason of its fail
sre to shed any light upon the Secretary's
schemes, half dozen members moved an ad-
journment- The motion was declared not de-
bateable, and was put and carried at once Thus
euds tie conference between our banks and the
Secretary. It has been beyond question, less
fruitful than was expected when Mr.. Chase vss
requested to come to New York. The bankers
expected Mr.. Chase to explain to them his plan
Tor raising money, aud were prepared to place
Mm1in position which would have rendered it
dihicult for him to escape assuming the respon-
sibility OF suspension of specie paymenta-
This plot was defeated BY Mr.. Chase's reticence
at the meeting this morning; and, on the other
hand, If Ar. Chase entertained any hopes that
the bankers would make proposals to him, this
expectation was disappointed by the motion to
adjourn. Both parties are thus left facing each
other as they were, and . truce for month has
been declared. The hope Of the more ssnQuine
among Mr.. Chase's friends is, that before Jan.
uary 10, our armies will have won such victories
that the cause Of the rebellion will be plainly
hopeless. and money will be rendered to our
government, not emily at home but abroad. In
this event, the Secretary may carry out bis
scheme OF issuing currency based on United
States Securities, and will find no difficulty in
floating oil he requires-two or three hundred
millions during the next six months. If. on the
other hand, the expected victories should not be
won, and the rebellion should not be rendered
hopeless by January Is, nr. Chase will of course
issue demand notes, and will redeem them A
long IS he can. The question will then arise.
how shall the banks deal with these demand
notes! And, however that question NAV be
answered at first, it 10 evident that eventually
the banks will be compelled to receive and nav
them oct as money, 10 do which it will be neces.
sary for them to suspend specie paymenta How
much specie they will then have in their yaul "a
and how much it will b found that thew ha =
gained by repelling the advice of tho soundest
hnsncters in the country, and permitting in
fighting the public and the foreign bankers for
the sake Of an untsnable abstraction time alons
will shown Y. Herald, Goth.