Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1861-04-19
dbe41ee N1kas
BURLINGT TON:
FRIDAY MORNING, APRIL 10, 1851.
"GREATLY SURPRISED" :"

The new Secretary Of the Treasury has advcr
tlstd for further loan, the bids for which tC
be opened IN the course of this week. 1t will
greatly surprise us IL the results do not show
serious falling of already in the Government cred
it."-Seufind Of April 5.
We find the above In an article. the drift
of which is to make out that the T. s. Gov
ernment and all the business interests of tn
country arc rushing down to inevitable ruin
because the Republican Administration
will not let the whole and the half traitors
Of the Southern States have their own way
and will not be frightened at their threats
rtheir acts. In its zeal to apologize for treason
the Sentinel even charges the enactment of
the Morrill, Tariff bill-a bill, the essential
principles of which Specific duties) were re-.
peatedly urged by Mr.. Buchanan, which
received the votes of both Republicans and
Democrats with little discrimination, and
which when passed was signed by Mr.. Bu-
chanan-on the Republicans, and follows its
enumerated list of disastrous consequences,
with the remark above quoted,
The Sentinel was altogether oblivious OF
the fact that few weeks before Mr. Buchan
| ans disastrous administration came to an
end, and while the policy of Floyd, Thomp-
son and Cobb for dislntegrating the National
Government was in full tide Of successful ex-
periment-president Buchanan doing moth
ing but hold up his hands and forbid the
United States forces to do any thing to pro-
tect themselves and there being little pros
pect then that any tariff bill would 90
through COngr ss-the Treasury found it hard
work to get a moderate loan at a discount of
tlOelre per cent. When Cobb had got out of
the way. and an honest man, Dix, was put
in the Treasury to help carry it along till
the 4th of March, five millions were wanted,
and it was got at little less than ten per cont.
below par-which was some improvement.
In its wisdom the Sentinel thought that
was the end. The Republican Administra-
ton, it felt sure, could get no money
on so good terms as that. Before
the week had gone round it had to submit
to one "great surprise that of seeing
thirty-four millions offered when only eight
millions were called for-the whole eight
being subscribed for at an average of SO and
fraction over
Completely dazed by this result, the
Sentinel undertook to explain it by the
great surplus of money in New York, the
dduanced rates at which Mr.. Dix's loan was
selling "a sure sign that the government was
going under, of course , and the probable
adoption of peace policy by the new Ad-
ministration.' This, take note, was a l0e,k
after the vigorous Quitting of war vessels
with men and munitions of war had been in
operation at New York However, the
Sentinel, after relieving its great surprise by
these explanations of the phenomenon, con-
soled itself with saying that though it was
"a very high spirited resolve IN Secretary
Chase to cut off the offers at "a and "rely
upon the issue of Treasury notes for the re-
mainder' it was Of questionable prudence
to do SO, and it thought it doubtful
whether such favorable rates could again be
obtained" But as Mr. Chase has just re-
ceiyed bids for the additional FIVE millions at
par and above, the Sentinel, for aught we
see, will have TO be greatly surprised
again.