Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1863-02-24
BRITISH VIEW OF .THE WAR.
Grand American Style Of Doing Busi.
ness.
IProm the London Times, Jan. %

| ~-N-~N~
Although there may be some things PASSING
In America which We cannot perhaps regart
with totally unmixed satisfaction, there is muci
to crafty the patriot of the true spread-eagl,
order. II things do not 20 exactly right, th err
Is no denying that they are conducted on scale
the most magnificent the world has ever seen
The JOB, In every sense Of the word, grows big
ger and bigger. What strength, what vitality
what resources, what energy there must be In O
nation that 10 able to ruin itself on q scale &c
transcendent and magnificent We admit that
the American mind has had to submit to serious
notifications. Defeat, disunon, the loes Of
personal liberty, and, still dearer, of personal
property, the perpetual summons to put on
mourning for some dear friend or relation, are
undoubtedly real and tangible evils. Bat, then,
the thing is done on so magnificent scale, the
dimensions are 80 vast, the magnitude s 90 ap.
palling; the national passion for wealth, pros
pevlty, and union is disappointed, but every thing
tends to gratify what is scarcely less deeply
rooted feeling In the American mind-the dis
interested love Of magnitude for its own sake.
II you are to have blockade, It s a'fne thing to
blockade thousand miles of coast at once; II
you are to have war, how glorious to light a
confagration which extends through all the
climes aud regions from Pennsy lvanis to Texas
~ 10 y oou thip6 y" hbus . pitcueu uhbtteJ Dub
there is something satisfactory In fighting four
or ave in the same month on The Potomac, the
Ohio, and the Mississippi. Next to not being
ruined at all, the finest thing, from the Ameri-
can point of view, 10 10 be ruined on a good
scale--to 90 down, like the tropical sun, blood
red and blazing into the sea, with no pale and
ineffective twilight, no shadings, no fadlngs away
TO extenuate the magnitude Of the catastrophe.
The latest commercial intel Digence received
from America must, though not very pleasant
in itself, crafty to the utmost this size wor-
ship Of the American mind. The telegraph
Informs us that the Government bill for the
issue Of $500 000, 0,000-more than l8O, 600 000l
sterlDg--of United States bonds has passed
the Senate. Wall street is much excited. Gold
has reached AZ premium. Theship which brings
this intelligence carries away $500, 900 in spe.
Gle to Europe. We do not think that any one
will be found to complain that this sum is not
large enough; that it 10 not fully adequate to
the dignity Of the free and enlightened people
who are anxious to borrow 1t, and in all respects
thoroughly commensurate to the scale OF the
war to which it 10 to be devoted. For our.
selves, we confess that we feel deeply humiliat-
ed by the comparison. When We reflect on the
miserable driblets by which Mr.. Pitt aud other
architects, considered not altogether timid or
unskillful In their day, built up the goodly
fabric OF our own national debt, we undergo
the sensation of the frog trying to swell itself
to the goodly dimensions of the OK. Alas! who
are We that We should venture to criticise the
magnificent transactions of which We are the
remote and sdmiriDg witnesses2 All the wars
of King William H.. entailed upon US but a
paltry dept of Is. .0O0,0 ,000i Queen Anne's wars
left burden OF only 81, 900 ,0O0l, and we con-
trivad IN loan n1r m arican nrovincas afta, N
war of seven years, at the very moderate figure
of an increase to our debt of 12l ,000, ,000l. The
great Napoleon himself, after struggle Of two
and twenty years, only bequeathed US as q keep.
sake debt of 603 900, ,000l These figures
used to be thought something, but, like finite
quantity of mathematics brought into contact
with in6nity, they absolutely Danish and efface
themselves when compared for moment with
the grand American style OF doing business
Nor are we less impressed by the stupendous
calmnees with which these debts are incurred.
John, Duke of Marlborough, himself did not
ride in the whirlwind and direct the storm with
more complete and absolute equsnimity than 10
displayed by Mr. Chase in these stupendous
operations. He has the pretliest way OF sketch
ing out bis alternatives. Take your choice,
ladies aud gentlemen; which will you have2
Shall it be three hundred mi lions in legal-ten-
der notes,with fifty millions of pOstofice stamps,
. three hundred millions Ia three. year notes
bearing interest, payable to bearer, or shall we
60 in AZ once fer the grand total of niue hun
dred milliops7 Thus adjured how could Con-
gIess hesitate2 The ecAle is everything, and
30 OF course it took the largest, and may now
claim the undsputed honor Of Offering 70 q con-
fding public the largest loan that Was ever
created by single legislative act.