Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1862-11-04
War, Finance, and a Winter Campaign

War, Finance, and Winter Campaign
The present appearance of activity in the
Army Of the Potomac, gives US hope that the
period Of inaction has passed and the forward
movement, 30 long talked of, begun. II this is
indeed 80, it has not come moment too soon.
1t is folly to attempt to conceal from ourselves
the fact that the nation cannot, without sacrlH-
ces infinitely beyond any yet made, carry on the
war another year. We do not presume to etany
limit to the endurance of our people, or to the
weight of the burdens that they will cheer
fully bear, in order to suppress the present in
famous rebellion. But every week S delay adds
immensely to these burdens, not only in their
crease Of the public debt by the curreut expen-
ses Of the, war, but in the continued derange-
ment of business the destruction Of private for
tunes by the unsettled state OF the country, and
the loss of public and private credit. In add
ton to these disturbances of the commercial in
terests Of the country each month delay brings
US loss Of position and respect abroad and con
fdence and courage at home, depresses the
spirit of the loyal men of the North, and ex
hanceS the danger Of miserable compromise
and disgraceful submission to such terms as
jeff DAVIS, and his pro-slavery allies South and
North may choose to dictate, or of prolonged
contest the end Of which no man can see.
Public credit is one of the necessary nstru-
mentaities by which this rebellion is 10 be
crushed. If the government breaks down fnan-
cially the ruin of the couatry would be greater,
if possible, than to end the war by compro-
mise as in the one case we might possibly still
retain government which had metes and bounds,
while in the other the Republic won Id ineyita-
oily 90 to peioes, and be broken up without hope
of restoration in anything like its present Union
We have now public debt Of over six hundred
millions of dollars. a portion only OF this Is
as good as gold, being a legal tender Tor govern
ment dues, but the larger part Of it is more than
thirty per cent below par, treating gold as the
standard of value. This is an unpe lsant and
ugly fact, staring the nal ton in the face And
it is growing, il not worse, at lcas. no better as
the weeks slip away. The public credit issnk-
ing, and without that credit the war must Ian
guish, and ultimately be abandoned, as an army
cannot be koptn the field without being paid
in something that represents value.
WHAT'S to be done? Plainly but one thing,
aud that is to 90 ahead with the armies of the
Republic and win victories. However good
linancier Secretary Chase may be, he cannot
save the credit Of the Treasury Department
without victories Management and skill are
valuable auxliarios in that branch OF the public
service, but it is impossible for them to make
Government notes as good as gold unless the
Government has power and strength and will
and energy to maintain itself and demonstrate
its ability to live and pay its debls. Public
credit is nothing, when the people lose conf
dence in the stability of the Government, and
every delay in subduing treason, diminishes this
confidence. it is no exhibition of the
strength or stability Of the Government, to run
in debt. Calling out million of men, and
keeping them in inaction, instead of increasing,
diminlshes the confidence of the people. 1t is
an exhibition Of wasteful prodgality, and not
of conqaerng energy, show OF power, and
not the power itself. And public stocks, in
stead Of rising, go down in market, in conse-
quence, and the people, instead Of taking heart
from such magnificent display of the resources
Of tho nation, emily SEQ in it how rapidly through
such lavish expenditures of means, the Repub-
lie is drifting toward bankruptcy, while the best
soldiers in the world are dying in camp, or use
lessly throwing away their lives on indicative
battle fields, through the neihciency or timidity
of generals to whom such vast interests have
been entrusted.
1t is because delay ana inaction, tiridity ard
indecision, and cautious and irrcsoute counsels
can be succeeded by nothing but the most utter
ruin to the nation, that the present Indications
Of an active winter campaign are most cheering,
and if vigorously followed up, will lift from the
hearts Of the people the burden of discourage
mept aud depression, which is weighing like an
incubus upon them. The army ought new to
be nearly twice as large as it was u year ago, ]
aud il is layishy lurnished with all the mater.-
al of war. II 1t cannot now, Under good leader.
ship, conquer the rabelhon, it never can, and
auy further delay would be crime against tn,