Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1863-08-31

'si 10 have reach n the govern mont iss' even
TX; aud Hhi-h h.s caused such fu ter day
At the Navy Department The ueS- 49, n0i
altogether unexpected Tie govern ineut h'i
already been warned by the pres Int sucl 4
heet being built in EngIar.i But the gov
eminent had doubted the accuracy OF the state
ment. Its own messenger. however, Low con
nrms its truth II would be idle to say that the
administration has taken sny adequate measures
20 guard against this and appalling danger
III the intelligence brought by this newspaper Toe
correct. the blow. when il falls, must fall upon
us with crushing force.
Therefore il il that great pertuber ton has
fallen upon the venerable head of the Navy De-
partment, who l. literally nj his wits end All
that can be done will be done bv the active and
energetic Assistant Secretary Of the Navy; and
indeed. il my he safely said that. had Cspt Fox
been the real he ID of the Navy Department. the
harbors of New York. Philadelphia, and Boston
would not now he deienseless
Now ia good TINA, by the wav. for 1.-The gov.
eminent" to declare against England. a. the
adm 'nistration papers boosted 'rhe gOvernme
would do II any more iron clad steamers for The
Confederstes were fitted out in England. Will
1.-THE government do III Not at all Tn the
contrary. as have previously stated. the ad
mnIstraton will see great seaport cities laid
IN ruins. and our commerce swept from the
ocean. before thew will take the only step that
will renter Us absolutely safe from those calam
titles.
The falling off in the daily sale Of FIVE
twentie- Tor about a week past has become pos
itiVey alarming This expedent was the main
relieuce Of the Administration for the supply
the funds necessary 10 carry on the war: and, il
this fails the war must come 10 an abrupt con-
clu>iou The general subscription agent there
fore has been instructed 10 allay the public ankle
" bv the absurd statement that the reason why
the people no longer contribute with alacritv TO
this fund IS because their attention is absorbed by
watching the progress of affairs at Charleston.
That Is too shallow n pretext, however, TO de-
ceive the public with. The real reason it, that
the dupes OF the Administration are exhausted
or nearly and that the more intelligent portion
of the community havo too much sense 10 invest
their money in what will prove TO be most stu
pendous humbug. There are many indications
indeed that the people are at last becoming awake
to the shameful deusion which the party in power
have practiced upon them Not only is all the
gold and silver in the country driven out Of cir
cnlaiion, or exported To Europe in consequence
of the mismanngemeut of the Adminis ration.
and the country burieued by 4 national debt that
will probably remain unpid for miny genera
tlons but the country is flooded with "A paper
currency which j. utterly worthless in point of
fact. and by means Of which three fourths of the
people in moderately easy circumstances are re
duced nearly TO poverty
Suppose that one of your readers owns stock
for the Illinois Central Railroad. worth so 600
L. he wishes TO sell he is compelled 10 take the
money ia greenbacks. Three years ago. you
obliged your Republican friend by lending him
$1,000 in gold or good bank notes. To-day. he
offers you in payment the amount i'm greenbacks
Ii is in vain u object. The act of Congress-an
act in def ,nce of the Consttution--has made
these filthy rags legal tender fer the payment
of all debts To refuse them is to expose YOUR.
self suit under the of Congress And.
now having taken your S5.00N or $40 600 in
greenbackS what can you DO with themp You
cannoa loan them out ON mortgage. like specie or
bunk notes. for they bear 20 interest You can
indeed buy the five twenties" with them. and
this j. what many have hitherto done and this is
the secret of such large sales previously, Of This
rev intangible creation. But what are the five
twenteS"T 1t Is only new form of public debt.
1t il the mere promise of the Admin traton to
ply five per cent interest in specie. Ii the Ad-
minsiration had kept its previous promises. il
might he expected to keep this one 1t is quite
likely when the Administration have gulled the
people TO the utmost extent, that this promise will
be repndi ted. like the former ones. NV. re
pudaton of all the obligations OF this Admins
ton. five tw.nties "a well as green backs, is bv
no means an impossible contingency of the iu-
ture. X