Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1862-06-05

EEIf there is any one thing more
than another, connected With the Ad-
ministration of public affairs under Mr.
Lincoln, more highly gratifying to a
Ioyal citizen, it is the aaexampled
prosperous condition Of the financial
department. Upon the advent of the
present Cabinet, they found everything
IN the direst confusion. Government
securities had been stolen by Floyd, the
treasury under Howell Cobb complete
ly bankrupt. and s7O.OOO.oOO in debt
during profound peace, United States
stocks below par, and everything de-
noting just what these worthless intend
ed should come to pass, the nation bank
rupt, and without credit abroad. John
Bull with his characteristic sagacity,
foresaw to a certainty our inability to
sustain the Government against the
thieves and rebels without money. and
presuming that the usual course of
borrowing from him would be adopted,
very cody buttoned up his pockets, and
gave us 10 understand that che wouldn't
lend penny, not penny TO subdue
the South, that he wouldn't" fvide
London Times, and no use in asking
for it. The old "ros' bif'' did not wait
TO be asked, but sneered over our
financial prospects, and seemed jolly
over the prospect of our failure. Con-
sidering the financiers under Pierce and
Buchanan with whom he had to deal,
perhaps he had some excnse.
But q year Of war on gigantic
scale passes over, and Mr.. Bull, instead
of lending. actually becomes our best
customer for surplus food, to feed his
Iown starving millions. Our people
of the loyal North not only feed a
half million of men IN the army, but
beside their own population Of so.ooO.-
600, have an abundance to supply
foreign nations. For the first time in
the history Of the world, has nation al
war been able to export breadstuffs.-
Not only so, but during the same year,
we have armed and equipped power
ful army, built up formidable navy,
and despite the stealing and plundering
everywhere going on in Government
contracts, our Federal securities are
eagerly sought after for purposes of in
vestment, and not only above par at
home, but from 10 to 40 per cent above
those of England, or any other nation
in Europe. The 7 $40 bonds that
were soon to be purchased by the bushel
at buyers option, according to predic-
tions made among US, can now hardly
be had at par for gold, and are selling
to-day at 104 to los for currency or
exchange, and in great demand. We
know of several, who would willingly
Invest thousands IN thonn. If thoy could
be obtained at par. In the eastern
cities, the frst issue of "gFeen backs"
are in demand at per cent. premium.
We see by the Nashville Union, that
even there the difference between gold
and "green backs" is but half per
cent.
Mr.. Bull may well look on with
amazement. 1t may serve as a lesson
to teach him that we, as a nation are no
longer dependent on him for anything.
So much has this rebellion done for us
in the eyes of the world.
Is it not strange, however, that
among as, men viii be found anxious to
destroy this gigantic power. and bring
us under the control Of a beggarly Con-
federacy, whose currency is the laugh
ing stock Of every one, and whose bonds
could not be sold in any market in the
world. for any price whatever. Indeed,
we much doubt if the sympathizer'
with secession among US, would buy
them if they could be paid for in CALI
polls money. Yet these same worthies
prate lOudly Of our immense nationa
debt, and are using every effort to reyiY,
: the Democratic party organization, By
working upon the fears Of the ignoran
in regard to the high taxation. Th'
; scheme will hardly prove successful
: So long as our farmers find ready sal,
r for their products at fair prices in cash
f they will not likely complain. Whel
! they compare their present peacefu
! and prosperous condition with that o
\ the seeesh, they will not grudge por
tion of their earnings to sustain tn
Government, under whose benign in
, fuences and wise counsels, they hav
{ been made to differ from the traitors.
Such plain tangible proofs, are to,
1 powerful TO be over-balanced by falls,
t and wicked arguments of Vallsndig