Litchfield enquirer., 1862-06-19

m 4ntghflQ { Y, JUNE 19. 1862. are .g ..gs ENGLISH VIEWS OF AMERICA.
 EXTRACTS FROM BRITISH JOURNALS. Tie Fsnancial Position of ae United Ssates. The London Duly Nescs of the 2Oth says: :: /" The financial position of the United States,
 after twelve months of civil war, while it sorely
 puzzles our mechanical politicians, furnishes as strtkssg proof of the consta',cy cf free peo-
 t o's that cos,stancy, as their recent triumphs in
 the field. Four months ago there was no way of
 seeming wise so easy as predicting the speedy
 collapse of the federal cause from the sheer want
 of money. The world was warned by grave au-
 thorities on this side of the ocean that federal
 insolvency was imminent, and federal ruin and
 repudiation near at hand. America, in her exi
 gency, had resolved to raise four6fths of the ex-
 traordinary charges for the war by way of a loan
 and one-ffth by taxation. But a community un-
 accustomed to draw quietly in fiscal harness was
 sure to kick against load even thus compara- lively light; and from the moment Treasury notes were made a-legal tender, national bank ,ruptcy might be said to have begun. Vainly it
 was urged by those who, like ourselves, had not
 forgotten our own financial history, that Engtand
 sizty years ago had Res.e-the -like, without the
 pressure of an equal need, and that for eighteen years the commerce and revenue of an empire
 engaged in war with half the world, had been
 carried on by means of a paper currency. With
 far more sincerity than that affected by the ene-
 mics of popular government, we deplored the
 necessity which had compelled the adoption of
 such measures in the present case; but recogni-
 zing their urgency, we believe in the judgment
 and foresight of the men who adopted them. We
 took for granted that they understood far better
 than their European censors the spirit of the na-
 ton with which they had to deal; and that, if
 they did not see moral and social reasons for
 con6ding in its power, and will to honor the
 heavy drafts on it's endurance, they would never
 on their being accepted and met. We'll, what
 has happened? Every dollar which the govern
 ment of Washington required to borrow has been
 raised within the Union, promptly and at mode
 rate rates of interest, and, as we know, every dollar has been expended nearly as fast as rais- ed. Government securities, repayable at vari. ously deferred periods, have been given for the vast sums so borrowed, and these securities have been made by law legal tender. But instead of dropping to ruinous discount, as certain re- actionary prophets amongst us would have had the world anticipate, Treasury notes are actually at three per cent. premium, and United States stock is in demand at 99 in the money market of New York. There is nothing to 6e compared Wih this tor grandeur ie tue annals of Europe an tinance Ls the midst of c terr!fc struggle, m which euery energy and resource cf the country is needed, ,ciM an army of seren hun. foo1 and equip ct te ercessipe cost aoAich prooerCaat- iy, attends urgency; and ,ciM e numerous .fotu. ta ot g,vsboats and iron-clad vessels ct' acar to construct aud arm, ercise duties reaching erery article ot comfort or luru,y hare been imposed ,oithout C murmur of discomfort, aud public cred a continues to De untalteringly sustat''ed at e figure which the ercheqxers of monarchy seldom hope to attain. - ..,'
 c. It would be an i'll compliment to the saga cious and discerning advisers of President Lin coln to ascribe these remarkable phenomena mainly or primarily to any peculiar skill oftheirs ill finance. The thing has in it a far deeper and more important meaning. Credit is due to the e,.k;ne. of Washington for the simplicity and courageous faith they have shown in the calm and patriotism of the people. But .n Mts indomitable and noble spirit of tue ma,ey ttes Me t'7te interpretation ot the naruel Clever ministers may devise ingenious lures in time of peace, or plausible bribes on the eve of foreign war, whereby to raise extraordinary loans; but no European gouernment since the golden days ?t he States General of Holland has succeeded 'n ratstng exclusively ,cin its o,cn territory, ct ordinary rates c interest," aothin t,celue mouths, sum cqutuatent tn amount to several years or aina'y income, oitho,a materially deprcciating the ratue of its securities aud of its currency. The glorious and gallant little commonwealths which had risked all for dear liberty in their con tests with Philip, calmly perilled the wealth and credit they had gained by freedom rather than submit to Louis of France; and in the latter memorable struggle, as in the former, they work ed wonders It is curious incident that just before the outbreak of the fearful contest in which America has for the last year been en- gagged, the history of the Dutch republic was given to the world by one of the most distin- yuished men of that greater federalty to which | 1t served as model. As in size and strength, 'oin financial success, the later commonwealth | .xcels its prototype. But the cause in both $ | he sane-a. fired belief in Me nainds Of many hat sohat they had nationally undertaken should De accomplisheda silent, ,a,sargued but nfttla6le 'onc'ction, scorn tor the idea of euentual .fail- sre-an aU but unanimous resolutiou to naain- ! din at any cost, but to n,aintain thoroughly and sonorabty the guerdon ot those liberties hey dear y prize-is the 'p,tblic secret o ,chat looks 10 'espotic a,sd-oligarchic rulers as 70 riddle The whole community commits itself to the cost of | he present war, because the whole community ees that the defence of the federal constitution | md the suppression of unnatural treason is worth he cost, and ought not to bs. grudged!G The
 ich men open their strong boxes, and the athHf- y contribute from their frugal stores, and the k and laborer take without 2 rnurmur payment in the promissory notes of the state, because all feel that they cannot afford to doubt heir value. They do not want to believe that hey have any right to ask for discount upon hem. They will not believe it they do not be- ieve it-for the best of all possible reasons, that hey feel that they have it in their own power to nake good every cent borrowed in their name. This is public credit, te pubic credit ojf e self: people, one of the greatest and most lotable restslts of freedom in our tin,e one iof he most complete and comprehensive anspers euer 'iren to hse calumnies of its .foes." t.-r,.aosl go@'N. u f --Ef t.'C!f .ssr-r,a.t{ sa7 THE CAPTURE OF NEW ORLEANS. fis rs I 3 The London Times, of course, lepdeavors to lepreciate the gallantry and skill displayed in he capture of New Orleans; and to do this most efectually, 1t makes this false assertion:
 z In the strange history of the capture of New Orleans, one incident alone appears as yet both certain and notable; a The city was approached y the river, and the passage of the river was defended by forts. iiThe tederals, ho,oerer, had
 ome ironplated gu.boatss and these ga,sboats set he forts ct defance, steamed by the Contederate ,atter;es, and presently held the town at their mercy, without having experienced any material .S,,dr o,, Ia