The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-03-29
NEW YORK HERALD, FRIDAY, MARCH 49, 1851

FRIDAY, MARCH 20, 1861
The RevoIutionary Crisis-Thc Lssas OF
the TvvS Gsvsrnmsats.
The two governments-one at Washington
and the other at Moutgonery-are calling for
loans The Southern confederscy requires If
teen millions, five of the amount down. The
Northern confederacy wants seventeen mill
lions, the balance Of twenty-five million loan,
of which eight have already been obtained, and
eight more are demanded on Tuesday next Mr..
Aemminger, the Secretary Of the Treasury for
the Montgomery government, Is issuing small
bonds, some SO low as $50, in order to get the
people Of the Southern States to take the loan,
after the example Of Louis Napoleon; but the
plan will not answer for this country. Mr.. Chase,
the Secretary of the Treasury Of the Washing
ton government, has issued bonds for large
amounts, and expects to get the money from
capitalists. The States in the Southern con-
federacy owe eighteen millions Of dollars.
The confederacy itself owes nothing. The
States in the Northern federation owe
Sta, OOO, 900, besides the debt of the federal
government, making In all about $3.50, 100000.
These are points for the consideration Of
capitalists.
The Southern oonfederacy must get its loan,
if it gets it at all, at New Orleans, the none.
iary and commercial centre of the South. The
banks Of that city have some eighteen millions of
specie on hand, and the banks at Mobile, Sa-
vannah and Charleston have smaller sums.
At New York, the financial and commercial
centre Of the North, there is an accumulation
of gold to the amount of some forty millions,
and in the banks of the other Northern sea-
board cities some ten or fifteen millions more.
There is thus plenty Of specie to negotiate the
loans of the two governments; and there would
be no difficulty in the way of their getting the
money if their objects were legitimate and
just, and if there was fair prospect of repay
ment But we are in the midst of q revolution.
AS yet we know not what we shall be-whether
a condemnation of anarchical States, each
acting and fighting on its own account, like
the Mexican republics; or military consoli-
dated despotsm, ruled by the terror of the
sword; or q republic Of united States pos
sessing RATIONAL well regulated democratic
liberty, equally free from the fanatical Jacque-
RE and ty ranny Of the mob and from the cruel
absolutism of one-man power. The question
is, whether those who have money to lend are
justified in giving it to either of the two gov
ernments. Both are revolutionary-the one by
| leagueing itself with the abolitionism of the
North, which pronounces the constitution "a
covenant with death and an agreement with
bell" and rewards the prominent men who
have promulgated such principles with places
OF honor, trust and emolument; the other by
seeding from the Union from the fear Of flu
ture injustice, and without the justification Of
overt acts, as also by selling the s~rts, arse
mails, ships and other property Of the federal
government Both desire to ''play at soldiers"
aad are trifing with the destinies Of q great
nation. Both are preparing for civil war. One
of them, while announcing through Its organs
that it was about to abandon Fort Sumter.
treacherously sends round ships of-war to rein
force Fort Pickens and to provoke bloody
collision in the Bay Of Pensacola; the other, we
learn, has pushed forward large achievements
| to the same point, and at any moment we may
hear Of battle which is to inaugurate civil
war, whose disastrous effects cannot be calcu-
lated, whose end no man can predict.
Yet four-ffths of the American people are
in favor of peace and reunion, and abhor the
very idea Of an internecine strife, in which Anne
rican brothers will shed each others blood I;
and capitalists who lend money to these 60
vernments for the purpose of enabling them to
carry on such an unnatural conflict will be
participators in their guilt and responsible to
the country. Unless, therefore, the revolution
airy government at Montgomery and the revo-
lutionary government at Washington at once
recall their troops, abandon all hostile move
ments, and agree to a reconciliation on the ba-
sis of the confederation which George Washing
ton and his compeers founded-a government
whose Magma Charta, the constitution, is de-
scribed in the words of the Father of his Coun-
try as Z" the result Of spirit Of amity and Of
ttas mutual difference and concession which the
peculiarly of our political situation rendered
Indispensable they announce their in
tention Immediately to come back to the prin-
ciples and practice of this bond Of Union, they
ought not to get dollar to help them in their
atrocious designs. Instead of furnishing them
with the means Of waging civil war, it would
be far better to throw the two governments,
one into the Potomac and the other into the
Alabama
CALIFORNIA y New AsrEcr.-Recent intel.
ligence from California states that within the
past six weeks the American clipper ships Web
foot, r. Busted, Eagle Wing, Jacob Bell and
the famous ship Great Republic were loading
wheat and -four at San Francisco for England;
and the clippers Dashing Wave, Ocean Tele-
graph and SkyIark were receiving similar car