Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1863-12-22
American Finances.

Secretary Chase, with just pride, 10 ms annua
report alluded TO the fact that the credit OF the
United States was now better than at the COM
me GENE It of the war, while the people were
ticking the five hundred million loan at the rate
Of from one million 10 three millions day, at
par. This is an unprecedented fact in the history
Of any nation while engaged as ours Is in most
gigantic civil war. This evidence of the wonder
full resources of our country, is naturally exciting
attention and comment abroad, and the London
Star thus speaks Of
Contrasting the condition of England at the
close OF the war in 1915, with a debt Of ESQ.,
100000, with the present condition of the U tied
states there can be no doubt that their debt is
" mere hsa-blte compared with their resources.
But we hear it said that they will repudate their
debt. We remember at the time when our debt
bore heavily upon the country there was rarty
who advocated reputation here, and that party
were those who had been most benefited by the
gar, and passed corn laws to prevent their pro-
duce falling to peace prices. 1t by no means
improbable that similar mean spirits may show
selves hereafter in America. But that the people
In America have faith in the honor Of their Gov
ernment is evident by the extraordinary fact that
the loan Of 100000 600 voted by the last Con
gress the people have voluntarily taken already
S350,000 900 a. para larger loan than was ever
raised in England 1t is true that the loan has
been made in deprecated greenbaeks, but the
largest ean ever made in England was also made
IN deprecated Bank Of England paper, and at a
time when guneas were selIirg at 2Ss. each, with
this difference that, nsteal Of the gov rnment
receiving par for their loan, as in America, they
received only fifty per cent in deprecated curren-
cy."
When the jeff. Davis Message and Memminger's
report on the condition Of tie rebel Exchequer
find their way abroad the contrast between the
bankrupt Confederac., and the prosperous Union
will not fail to arrest the attention of every IN.
prjudiced mind. The conceed rebels argued
ut the outset Of their treason that no! only the
North, but foreign nations could not live wthou
drawing their susienunce from the cotton field
Of the South la the visions of their dreams
Cotton was King, and it was only by obedient
criogng ya'salage to its imperial sway, that tn,
nations of the Earth could have any prosperity
But the pinnaces and towers and columns Of III Ell
magnificent air-castle have vanished, thei
bright dreams have been rudely broken, ant
they have at last awoke to the hard and ghast
reality, an empty treasury, starving people
King Cotton pr soner and mendcant, Will
in their fathers house there is bread enough an
to spare. Every vision, every prophecy, ever
expectation Of the rebels, have failed, and now tn
unwelcome truth is told them by their Secretar
OF the Treasury, that unless they can fill the
empty treasury they " must succumb." he wa
Of the transgressor is indeed hard and the
misery must be intensely aggravated by til
spectacle of our acknowledged and almost ur
exampled wealth prosperity.