Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1862-12-19
M Cha.a and our Eizsncss.


That the American people have learned b
means of practical demonstration the woH
derful capabilities Of their own country, ma,
be regarded as one of the compensa;ions O
the rebellion. We were accustomed TO look
with ancomprehending minds, upon the longi
/ t1dinous and latiiudinous tables with theil
immense sums total that Industrious staDist
/ J rPparod, for the purpose of exhibiting th'
I:.-e ress and prosperity Of our country in al
liz t,'rterial interests and sources Of wealth
We ste these figures which are combined tC
represent vast numbers, we readily enumorate
the many millions thus automatically exhibit
ed but in this abstract form we have ho
realizing sense" Of the immensity of resour-
ccs that this struggle has made concrete aud
obvious TO our comprehension. When we are
thrust into an emergency where these many
millions, that have so long stood unseen only
as represented by Arabic figures of notation,
become al once practically useful aud indis'
pensably necessary, then we begin to know
and comprehend the immense resources that lie
back Of the tabulations that we have so often
wondered and sumbered over.
When this infamous rebellion took shape
and consistenee as war, Europe instantly be-
gan to decry and depre ciate American securi-
lies. The Lo2don Times took occasion to
warn British capitalists against making in
vestments in American funds, and urged them
to deny TO the American Government all leans
however secured. 1t was assumed, as thing
of course, that an application in European
capitalists for money and loans would follow
1iracfIy s1pCp c0 niari,rr on va rlil-e measures
No European nation had ever made a war
without making a loan OF the capitalists OF
some other nation and it was presumed that
America must fellow the European precedents.
But to this day we have asked of no other
people than our own the use Of d single dollar.
Not boud Of any kind or denomination has
our Government ever offered abroad since this
war came upon us. British capitalists were
both amazed and disappointed that no loan
was asked for of them Thsy had decried our
bonds in advance, hoping thereby to force US
TO heavy discount in their market. Aud
their amazement was oily equaled by their
Disappointment, when they learned that their
money was not wanted Their organs were
loud iii prophesying that our Treasury loan
wouid not be taken at all. The ink that re
corded their Vaccinations was fardly Org be-
lore the offerings to our Treasury were found
to be immensely in excess OF the aiTourt called
for ; and the struggle was not for the govern
ment to get the molseg of the capitalists, but
for our capitalists to get the bonds of the gov
ernment
British capitalists looked on in wonder and
not without distrust. They knew nothing OF
our resources. They only remembered Mis-
sissippi reputation" and took it for granted
thai We were beth poor and dishonest. They
have, therefore, continuously proclaimed the
approach of a financial collapse in this country.
They have locked to such an event as the
means of closing the war, by our financial eX-
hausion. Upon this result they have predi-
Gated their prophecies of Confederate success.
aud apparently without considering that the
exhaustive process applied to the ConfeGeratcs
also.
Whatever may bare Eeea fire stsecsss cf tic
secesh elerneht in England IL depressing the
credit Of our bonds there ne neither know nor
care for it is certain that their influence on
the minds Of capitalists here has amounted TO
nothing. Here, the management Of eur Treas
ury Depari ment has been such as to keep the
credit Of the Government uuimpaircd. The
other day, the distinguished gentleman who has
administered tie adtirs Of that Department
had need Of money for special use. He tcle-
GRABBED to New York and Boston one evening,
and before the second evening there were
Thirteen millions OF money at his command
And this, not at the heavy rates exaetcd Of all
embarrassr and doubtful borrowers, bat al
the rate OF only FIVE per cent. per annum for
the time called for. Mr.. Chase has received
ne demonstration, during his charge Of the
Treasury, SO decisive as this of the sincerity ol
the pubic endorsement of his financial abilities
The demonstration was material, not verbal
substantial, not ideal. The late biddlngs lol
the new loan likewise Indicate most healthy
I confidence in the public mind in the fuancia
ability of the Treasury Department and in the
soundness of the Government securities. In
stead Of discounting the Government loan, th'
bidders have all held it at premium and i
has Eeen Gwarded at an average rGae Of {
fraction over 3 per cent. premium on tht
Ewhole sum of SI3,500,00O.
Ten nilliobs Of the amount taken Gseragl
three and a half per cent. premium Tn:
gives IS the Government, not a discount, but
bonus of three hun1red anI my tI2usant
dollars. The remaining three and Eg1r mil
lions went at an average Of three per cent
which gives the f:rihdr bonu1 Of one hnndret
and five thousand dolars-iu z!i a boruY G
S455,00O. The result Is, that the loan Of 81 3
100000 nets to the Government the sum c
$I3,955,OO0.
Certainly ME. Chase has abundant Cause 70
satisfaction with this result, boih as to its f.
cal advantage and its substantial assuranc
that h:s administrative lsbors have been E
thoroughly appreciated by the monied men {
the country. 1t gives the double assuranc
that the fiscal ability Of our people aad the
confidence in the stability and integrity Of ii
Government are equally unimpaired.-Sta
Journal
EUROPEAN INTERVENTION. w. PenrC