Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1863-12-06
lvfon tho oIsysIand Plain DsaIsr,J
Secretary Chaso.

Secretsry Chase wields more power than any
other man ln the United States. The currency
Of the country is controlled by him. and 10 Il
asserted that his friends are immensely bensftt
ed BY his controlling influence. His friends
are those persons engaged In stock lobbing
Mr.. Chase says 10 these gentlemen, "Be can
tious, am going 10 accumulate large balance
In the ub-Treasuriss." They Immediately
sell ont their stocks. Mr.. Chase goes on riling
up the funds in the vaults; goes Into the market
as borrower; produces panic In the money
market, aud down goes the prices Of stocks and
bonds. OF course bic friends hold none. After
season the Secretary says TO them, "Load up
with stocks, am about 10 disburse," and they
do 90, when the greenbacks come out freely.
Money ID easy and up 20 stocks. When good
round profit can be made the Treasury clique
sell cut, and 90 on TO the end Of the chapter.
IL 10 very easy to be seen what an immense
sway he has over the money market. d,
The National Banks have been shametnily
abused. They were prevailed on to 90 Into she
system by the Department, and the circulate IN
on the bonds was promised early In the fall,
but up to this date none Of them has received
their notice, nor do they expect them before the
lst Of JAnurry. Thus they have lain out Of the
use Of that amount Of capital for Of leaet three
months longer than they should have done under
the representations of Secretary Chase. "a
u must be born In mind that the Banks have
had U. 8. Bonds deposited with the Comtrollsr
Of the currency as security for their circulation
ever since they were organized. Can this de
lay be for stock jobbing purposssf Why doel
the department. not live up 70 It's agreement with
the Banks Of New York, Philadelphls and Boe,
ton in regard to the late ffty million loan, and
furnish them with Two Year Notes7 Can thia
be for stock jobbing purposesf The banks OF
those cities were to have had those notes on the
lot of November. Does the Secretary intend to
issue the new national currency and the fraction
al currency simultaneously, in order to produce
an easy money market, with o low rate Of in
tersst, in order that his friends may be largely
benefited by the sharp practice. II will be no.
ticed BY referring to the New York stock ex.
change reports, that some persons are taking
large amount Ia of certain stocks, which are we'll
kn0Wn to be In receipt Of immense earuings--
such as Erie, Pittsourg, North Western, etc -
Are these Mr.. Chsse's friendsf Ia our gno-
rance We ask these questions. 10 10 known
that Mr.. G. has something like $l4, 4,U00 OOO OF
gold under his control, which he can use 10
bear the market with, In case he thinks il ad-
vifable. We hope he will, for with reduction
In the price of gold there will be correspond
log one in other articles, essential to the COM
muniiy at large.
10 all such as are buying large amounts ef
grain for speculative purposes, We would throw
out the hint that they are entirely at the mercy
Of the Secretary of the Treasury. 71IA
II can be seen that this operation Of foic cDg
Gold down need not affeci The price Of Stocks
and Bonds dealt in ut the Stock RxchsDge, for
be may make currency very easy, At any time,
which always operates to infst the prices, but
With his continual receipts of coin be may be
able TO keep the price down 10 relatively Low
point for long time, thus being q very good
f,iend to the stock jobbers In tHo ways--one BY
l. fAting the prices of stocks, enabling them 10
sell at profit; and by keeping down the prce
OF Gold until bis friends caa invest II pCrtion
of their "honest penny" 10 that precious article
as reserve 10 travel abroad with, or iDvess in
she luxuries of foreign lands.