The Council Bluffs nonpareil. [volume] (Council Bluffs [Iowa]) 1857-1867, 1861-12-07
or. v1.a.cILL SECRETARY.

w1...,sr differences Of opinion may g
.ct.rta;ned in regard to ether branSoes =.
Governmsnt. in the management OF tnsu
49, .cnears % be none in respecs % sns
S.ns,tment Of the AnancO, under tne man.
.sement Of Mr.. Secretary Chase. Hc, y !.
.ord;sliy admitted, is the right man 70 'ne
right place. Such triumph = - IN
secured by him, is, we believe, unequ. ss
in the annals Of finance. Mneo 10 s1 s""rS
the department of the Treasury, - aos.s
the credit Of the Government q W.
lowest ebb, BY the bunglipG Of CopD, n ~
predecessor. II not BY hs prcmeusssss. =.
treachery-for it viii be remembered ~
those of our readers who are familiar WIN
such matters, that short peIioo Deiote 'ns
close Of bis administration OF u, ne appe.s
ed in Wall street, to negotiate . ioao' au1
by his conduct on the occasion, anu sly iou.
endoes, the credit of the Governmens was
90 damaged that it was effected only after
an enormous shave had been suomited 70
by the Secretary. So soon, however, as MI
Chase got possession of the seals Of oftlce,
he set himself to work to re-modei tue
whole system Of finance in h department,
and by the time the new Congress was u
secession, all his plans were arranged to tns
hands of that body, and the wisdom and sk'i
displayed therein, enabled the two house:
to complete the labors Of the session FOL
which they were called together, in re-
markably short space of time; and such va.
the confidence displayed in his skill and
Management. that hundred milliOns OF dol
lars more were placed at his disposal thar
he had asked fora mark OF confidence sel'
dom displayed toward any one, in any M.
ton, placed in his position. Without any
published notice for a bid for his loans, Mr.
Chase arrived in Wall street, and in few
hours, after consultation with tho leading
bankers of New York, succeeded in resii.
zing loan of $50, 000, 000, which was placed
at his disposal ct once, with q contingent
loan for one hundred millions more, to bs
received in October and December, the firs
half Of which was promptly placed to nj
credit in October, and tho second il already
arranged for when required by the Govern
ment,-so that he has returned to Washing
ton, after few days sojourn, with funds &c
pay an army Of upwards Of 500, 900 men anc
a navy Of immense force,-embracing ar
armament in the field enequalled BY any ma
ton of Europe,-which will be sutiicient &c
meet oil demands upon the Treasury, rs o.
himself announces, to the LIST OF February
The history Of this, and we believe it is al
mi,ted, Of any nation, can produce no par
aIlel to such feat; and more particularly
when the circumstances of the nation are
considered, and that his FIRST loan was nego'
tiated under the malign Influences Of tht
battle of Bull Run. There can be no doub,
that this great success in our financial de-
partment has tended more than anything
else to give that confidence now entertained
as to the ultimate and full success of ouI
arms for the preservation of the Union, as
in all nations and ages, the "sinews Of war, y
money, is considered the main reliance fol-
the successful prosecution of war. Pow
erful as Russia was known to be-, in ihe
in the vastness Of tho number Of men she
could call forth to the war in the Crimea,
yet she was lacking in the sine,cs by which
the immense mass Of living flesh could be
moved,-hence, although the war war con
Quoted in distant border Of the Empire,
and her mainland could not be invaded BY
the Allies, yet she was obliged to sucoumb
for the want Of means to continue the con-
test, her resources being exhausted at home,
and her commerce being cut of from abroad,
by the navies of England and France, and
such is to be the result in the South, from
the negotiation Of these loans is thus de-
scribed by the Paris correspondent Of the
New York Times.
"We have heard from gentleman who
has rami6catons in Secession society that
the ready taking of the second and third Ma
tional loan has struck the Secession gentle
men with more dismay than any event that
has occurred in the history Of tho war;
They still contend, it seems, upon divisions
in the North; and, perhaps, a little upon its
cupidity. But since it is now not = question
Of 'who will take the loan p so much az
swho shall We let have it?' the tables are
quite turned, and we can understand their
disappointment. The 6rst and abless, and
most efficient general in the nation is evil
IDENTIFY Salmon P. Chase"
This is indeed high compliment to the
Secretary Of the Treasury, and it is crafty
ing to fad that, whatever differences OF
opinion may be entertained as to other
measures and men, now passing in review
upon the public stage, all admit that the
President has been pre- eminently success
full in securing for the Fiscal Department
of his Administration, the great lever for
moving all others, the right man in the
right piace.-Baitimore Clipper.