Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1862-04-18
The Seven Per Cent. Interest Law

interest IN this state to seven per cent
The only effect of the law will be to drive
away all surplus capital. Instead of mon
ey being sent here from the east for invest
ment it will stay where it is, or at least not
be heard of or seen in Wisconsin. When
the government pays 7 80 per cent, and
wants all it can get at that rate, we need
not expect to borrow great deal here at
seven per cent. Besides that, money is
worth seven per cent. at the east now. and
ih demand for private investment, and
when the people of that section can get as
High rates at home as they can here. they
are not going to send their money away
/ AS general rule we are in favor of low
interest, but this is not the time for the
people of Wisconsin to iDaugurate new
system. Wait till the finances of the
country are in better shape. AS it will be
perfectly in order for the legislature at the
June session to repeal laws passed at the
late one, we suggest the propriety Of its
taking the back track on the new interest
law. If it does not, the people will have
to do it when they come to vote on it in
November. By repeating the law, the
legislature can spare them that trouble.
ALL WRoNG.--The newspaper CORES
pendent who first set in motion the story
that the sixteenth regiment from this state
faltered in the battle of Pittsburgh, de-
serves considerably harsher treatment than
he will be likely to get. The same is true
of the man who first gave currency to the
statement that the eighteenth was coward
ly and fled from the field in dismay. Ev-
cry Wisconsin man hung his head in shame
when the tidings first reached him, and
much indignation was felt that our soldiers
should have shown the white feather
Come to get tho facts, however, it seems
that there were no drawer troops in the field
than those of the two Wisconsin regiments
which had been branded and published all
over the country as towards. They were
In the thlckest of the fight, as their NOR
sality list clearly shows. and the bravery
and valor they displayed are now admitted
by all who know anything about the facts
In the case. No injustice was intended,
we presume, but when newspaper CORES
pendent undertakes to write down a repi-
ment of men and denounce them as O. dis.
grace to the country, he should first be
sure of the correctness of his data. Too
much care cannot be taken in this respect.
ggssH From recent advices and careful
compilation the N. Y. Tribune estimates the
entire rebel force in the field at from $780,
900 to 1860 men. The Rochester IN
aon estimates the force at 100000. The
Union army is at least 5000 strong, re-
Jecting the sick and disabled. This shows
force about double that of the rebels,
and In the way of subsistence and all the
paraphernalia of war, it is greatly Superior.
But with these advantages it should be re-
membered that our army has to operate in
a country where the people are hostile,
and where troops have to be left to guard
towns, Notifications, &c., as the army ad-
yances. Another disadvantage we labor
under arises from the fact that the country
furnishes nothing for our troops to subsiss
on, the rebels having nearly cleaned the
country, and what little is left is bestowed
to prevent its falling into our bands
Orders have been issued to discontinue
the enlistment of men, showing that the
proper authorities are of the opinion that
We have all the force needed. We trust
this will be found to be the case. For
near year the country has resounded
with the call for men. and nebly and patri-
otically have the people responded.
THE LEGAL TENDER NOTES.-The legal
tender notes issued under the late law Of
Congress, are now being printed as rapidly
as the Bank Note Companies can turn them
out, The demand notes already current,
and lately at premium in New York. will
be gradually withdrawn, and the new issue
substituted. The best effects are anticipa.
ted to flow from infusing $3.50, 900, coo
of this government money into the circula.
ton througsut the country. Bankers and
business men will alike derive advantage
from it. The Times states that many who
opposed the measure while before Congress.
are now not only satisfied that the ct has
passed, but are prepared to believe that it
will work much more successfully, and with
less peril to the currency and banking in
serests of the country, than they we're led
to fear while it was discussed in the light
of an experiment.
STARVATION PRICEs-The extreme south
relied very much. upon procuring supplies
from Iennesessee. Since the Union forces
took possession Of that state. -four has ad-
vaneed TO twenty-five dollars per barrel in
New Orleans. What is to become of the