, 1863-11-13
FRENCH ASSIGEA7s ATD RERrr.
GuEfRfNEN-

The compliment extorted from the Rich
mond .Etomtner, for A1r. Chase, Secretary
ofthe Treasury, has more value than would
attach to the encomium Of friend. It is
the confession Of bitter enemy. Such as
It Il, its special pleading, its absurd CT.
cuses, for the failure Of the Confederacy,
its attacks upon Memminger and Hunter,
: and 1ts erroneous views Of Federal resour-
ces,-we print it in another column, inyi-
ting for it the attention Of our readers,
warning them, while we do So, that there
is much that is unfounded and false mixed
up with what is true, and that they must
separate the wheat from the chat.
In dealing with a financial system like
our own, the mind instantly goes
back to the historical examples tha,
other nations, in times of great public
perl, have afforded. Our own history
brief in its retrospect and smooth in its
current, offers no parallel to what is nog
before us. In searching for preceaents,
from which to make our estimates and
draw cur conclusions, as to the future of
1he course that we are now pursuIug-the
goal at which the country will bring up
VIC look inevitably to that great contest in
the latter part Of the eighteenth, and the
beginning Of the nineteenth, century, in
which Ftance and England were the prin-
c1pal actors, and in which the financial
ability Of each was tested to its utmost. As
We take the financial history of one
orof the other Of these great powers for
an illustration Of our situation, 20 will our
predictions as to our own future be put
forth. HFrance, with her 4sstynat., is the
standard, we have only to look for nation
al bankruptcy and nahonalr1in. Il, more
cheerful and hopeful, we turn to the strus-
giles and triumphs OF England during her
long period Of suspension Of specie pay
ments, heavy taxation and unprecedented
disbursements, We shall see, that, though
the national currency may be Deprecated,
and to that extent the national credit i'm
paired, the certainty that all difficulties
will be overcome and that the end Of hos
Utilities will be the resumption Of the old
relations between credit and cash, Will In
spire every patriotic man with new cour-
age to push on to that triumphant end.
The few Copperheads who know any
thing Of French history, are incessaut in
their appeals to it; and loud intheir warn
ipgs that we are only repeating On new
ground the circle that France described.
They are mistaken. French assgn4ts
were Issued upon the faith Of 3 revolution
ary government; and there WIS not a man
In Europe who did not know, during their
existence as money, that If the revolution
were oVerthrown BY the restoration of
royalty, the revolutionary currency would
be summarily. discredited-thrown out as
not worth SO much blank paper. Herein
except that the upheava1 that gave it birth
aad Its origin in national aspiration for
freedom and not In desire to
strengthen and extend slavery, It was
the counterpart Of the printed prom-
aees to pay that the revolutionary govern
ment; in the Southern States has issued.
Ii was secured by the assignment of the
confscated lands Of the enigrant nobility
and the degraded clergy. The security
aTas no better than the authority that ten.
dered It. The first depended upon the last;
and though the assignats we're convertible
at the pleasure OF the holder, into their
equivalent eha1e Of the national domain
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