Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1862-06-27
salmon P. Chase---Money---Banks'-
Treasury Notes.
or sKowuIGAS.

The greatest general We have had in the
var is Salmon =. Chase. the able and ae-
eomph.bed Secretary OF the Treasury. His
uanassmeu, Of our fnaneial Affairs has been
Q complete success. Everybody acquainted
With Mr.. Chase before the war. knew him
to be one OF the greatest, il no, hs greatest
s,ate.man 10 the country. As long ago As
1850, some Of our readers wall remember
We advocated his claims to the Presidency:
and we again did the same thing in ls6o.
On both occasions he was our Ere, choice.
When Presiden, Lincoln was inaugurated,
Mr.. Chase had Jus, entered upon bis second
Senatorial term o, .iI years. His character,
talents aud experience a, once designated
him the leader OF tha, body. and had he re.
NAMED be ,roald have been. 4, that time
u VAS ioresesn tha, a terrible crisis was up
on US. Our government was 20 Be tried by
the ordeal Of ci-il war. withou, money
and mean. We were ruined a, once. Ba-
ehanan and his traitorous Cabinet had run
down the errdi, Of the government 10 per
cent. below par. The turning point with
us was TO find man equal to the crisis to
be placed at the head Of the Treasury De-
p.r,men,. The stock jobbers, spectators.
and robbers all had their fa'orite candi.
dates. The homes, men all looked one way
il,ir man was Salmon =. Chase. The for
msr Tough, agsln., bis appointment, With
vengeance; the latter eOn,cnded for IL with
IN equal yisor. and prevailed. Aud We be-
!ieve he has done for US what no other man
could DO under like circumstances. The
money to carry on this war, at an expense
Of two or three millions rer day. has been
promptly provided; the government credit
has been KEEP, up. aud to day government
securities are a, 4 premium OF Eve or Elk Per
cent. above par.
More than all this. the business aaairs OF
the country have been kept in good eOnai.
ton money has been plenty and is plenty
now. 10 abundant Is il in some OF our
large cities, tha. 1, can be obtained as lo~
. three per cent. Secretary Chase has
managed the thing very adrOily. lie has
furnished brain. no, only for himself, but
for Congress. who, by adopting his recon-
mendations, has KEEP, our financial matters
in good running order.
The issuing Of Treasury notes was at fret
violently opposed by the banks, for the
reason ,ha, 1t prevented them from making
. monopoly in the money market. They
next threw them out a, their counters,
which. for brief time. run them down be-
Low par. The as,ute Secretary bad q rene
dy for this. lie called upon Congress to
pass an &C, making them legal tender, and
they did is. This placed them beyond the
reach Of banking stock jobber. And now.
having stopped specie payment. the banks
have boarded up the specie, aud there is a
scarcity in the circulating medium below the
Denomination Of Eve dollars. To meet this.
Secretary Chase asks Congress to authorize
the issue Of twenty million. Oftreasury notes
under the denomination Of Eve dollars. and
when thi. is dore, the financial wants Of
business men will be met.
Since the war began. we have been e,.
porting more than We Import. which .sa'e-
the balance Of trade in our favor ; and then
We have thus far 80. along wiihou, borrow
ing . dollar on, Of our own country. All
sbi' tends to make money easy and plenty.
and business brisk and We owe il all to the
financial skill ot salmon p. Chase.