Evening star. [volume] (Washington, D.C.) 1854-1972, 1863-01-28
SECOND edition.
THREE O'CLOCK r. N.
THE PROsPHCri

II
The Prospect for the sucos~- Of orr arms ~as
never brighter than g. this momrn:. Those
informed upon The t;ovcTnmants military
plans the condition aad position or our forces,
supplies, &c, and those OF ths rsb-.ls, are we'll
aware o. tho fac, however ignorant OF it the
public at . distanc" may bs. IL dor not beoon-
us 70 enter into dot,ils in explanation OF the
military state Of tn nEs, though dfd We feel ~
l:hprty 10 10 20, We could e1sily satisfy all
r a,lrrs of III truth OF :i,is assertion.
There exists but Que possible drawback TO The
contamination az this success. and Il lies in lhs
power or Congress, only, 10 obTiate thaS We
r.fer TO checking line control Of he vslue of tao
National currency and securities which foreign
and domestic peculators in gold have obtained
II IA, are permitted 10 20 on, unchecsed, uaa!
TIL fourth of March ext, the Government VIII
surely be moro powericss 10 suppiy the fiscal
means Tor the further prosecution or the war,
titan the oiig3rGhy are; for the latter success
fully toroe their currency upon the southern
public at tie point Of tie bay onel, and compel
the southern banks, hy the same means, 70
Gerry out their every pian to the end Of sus-
tanning their GoyUrnmcnts credit
Without such credit as Consr- can easily
secure for the Government issues, we care not
what victories our Army and Navy may obtain
our lips If the credit Of the Government De par-
mi:ted by Go agrees 10 deteriorst. rapidly as Of
la;c; fer tho continuance OF such deterioration
involves th1 absolute speedy INABILITY OF the
Government 10 obtain another Tel ment or sup
pics for another esiment, withou a ch a resort
to force a. ainst the person aud property OF the
citizen wili in all probability AZ once lead to
civil " at in tie loyal SIstes.
We're we not SURF that the proc ect that Con
ere.s Will do Its duty in the premises lie ia ,idly
Frightening, we should be appalled, ny Thu
state Of t%ings But we are ccrIain that at TIL ;
iucnent lie measure upon the passage Of waich
every hope OF our success IN putting dowa tns
REBELLION hinges, in far stronger both Hou ses
than week ago, aud hourly gains additional
strength. We mean In" plan OF sustaining the
market value OF government money and sscu.
rites by requiring the solvent banks to issu Ne
tnc former based on deposits OF the latter il.
stead of their uw Lotes, and at the same tim ,
compelling the insoiyent hanks which canno;
provide the required securities to cease L,
iesue their utterly worthless bills for circula-
| ton.
! The plan IN wolves no ininstice Whatever to
| stockholders In solvent banks. Under it their
profits will be quite a large As they had right
| to ok for in specie paying times while al ths
! a.
| ing swiudled AS, without tina proposed law,
they must be in the end-by the ba n ks III at ca
! rot furnish the required seeurity for their is.
sues.
! At this moment Congress is about CO ually di
/ v:ded upon this financial plan OF the Govern
Inent, while these controlling the solvent bank,
! OF the country ara beginning 10 write hithe,
| urging it's adoption; as they now realize tnat i
| the Government loses its power t. prosec ute It's,
! war, they surely 10 be involved in ruin
| leaving only the managers Of the Insolyen
| banks 70 profit By the sisIe OF general hank
| ruptcy that must result Their represen ts.ioa
arc operating satisfactorily upon Congress.
We therefore feel sure that when a vote ma,
| be taken, The bsnk bill OF Secretary Chase Wi
| pass. LIS effect VIII be an instant chang. {.
! tie tendency Of the currency and securities o
the United States TO drpreciate. On the cou
trary, W It'll that bill Il law, the corrpl-a,iy.
| value OF gold will instantly decline; so that
| tA'oi- s~~''>.-- '--Iri water tha
| will surely occur before the 4th OF Marcb. In,
| passage OF the measure in question bids fair Z.
| bring the difference between gold and Trsaspr,
issues down 70 perhaps ten per cen.um.
In such changes OF the visible sssitua,ion- a,
| we explain above, do We see the remedy fo,
| the defeat OF the Vaccinations of the two dis
| loyal parties in the loyal States-the ss,ni.
| secessionists and the radicals; both Of whom
| arc now crying out for foreign mediation aod
| reace on any terms unless the rebellion n
| virtually overcome ''in ninety days. ;hs New
| York 7rfbUnes recent article On the sub;.,,
| ana NE mere recent speech OF the Hon. Mr.
conway representing the proposed policy Q;
| the latter.