The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1862-01-03
Secretary Chase's Interview with tn
New York Bankers.

From the New York Herald, 10th inst
The bank presidents met this morning at
ten o'clock, and, after passing resolution
declaring that they would receive no money
on special deposit, sent for Mr.. Chase to
hear what he had to say. The Secretary
addressed them at some length. He refer
red to the conduct of the war, and under
took to promise that, in the course of
month, events would occur which would
entirely change the aspect of the financial
question. He had money enough, he said,
to carry him through the next thirty days,
and it would then be time enough to devise
new means. AS to his plans, he referred
the bankers to bis published report. Re.
ferring to the Mason and SlidelI question,
be seemed to intimate that it would not be
found incapable of solution by diplomacy or
arbitration; and he finally assured the
banks that, so far from being their antag-
onist, he was and desired to be their friend
and ally, and hoped that they would CO.
operate together for the public good. At
the close of this speech, which seems to have
disappointed many members of the associa-
ton, by reason of its failure to shed any
light upon the Secretary's schemes, halt
dozen members moved an adjournment.
The motion was declared not debatable, and
was put and carried at once. Thus ends
the conference between our banks and the
Secretary. 1t has been, beyond question,
less fruitful than was expected when Mr.,
Chase was requested to come to New York.
The bankers expected Mr.. Chase to explain
to them bis plan for Raising money, and
were prepared to place him in a position
which would have rendered it difficult for
him to escape assuming the responsibility
of a suspension of specie payments.
This plot was defeated by Mr.. Chase's
reticence at the meeting this morning and,
on the other hand, if Mr.. Chase entertained
any hopes that the bankers would make
proposals to him, this expectation was dis
appointed by the motion to adjourn Both
parties are thus left facing each other as
they were, and a truce tor month has been
declared. The hope of the more sanguine
among Mr.. Chase's friends is, that before
January Is, our armies will have won such
victories that the cause of the rebellion will
be plainly hopeless, and money will be ten
dered to our government, not only at home,
Uut dOIOau. III tuiS cNcut, Iut OtCrGtdry
may carry out his scheme OF issuing a
currency based on United States Securi-
ties, and will find no difficulty in floating
all he requires-two or three hundred mil
lions during the next six months. If, on
the other hand, the expected victories
should not be won, and the rebellion should
not be rendered hopeless by January 18th,
Mr.. Chase will, OF course, issue demand
notes, and will redeem them as long as be
can. The question will then arise, how
shall the banks deal with these demand
notes? And, however that question may
be answered at first, it is evident that event.
ually the banks will be compelled to receive
and pay them out as money, to do which it
will be necessary for them to suspend spe-
Gle payments. How much specie they will
then have in their vaults, and how much it
will be found that they have gained by re-
pellipg the advice of the soundest 6nanciers
in the country, and persisting in fighting
the public and the foreign bankers, for the
sake Of an untenable abstraction, time alone
will show. - 49,. s. s.r