Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1863-10-19
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4altthktVu tONlbtb buhb CITY AV AAIsAS SSA~sS
excellent remarks on his financial policy,
and the past and the future of the war
which go beyond the ground he covered in
the Cincinnati speech, already published
in our columns. The frat portion will be
read with pleasure by many who would
not venture on more elaborate EXPOSE
tien Of the, financial Standardization of Mr..
Chase. We copy the report Of the cores
pondent of tie Cincinnati Gazette:
The Secretary was recsiVe with i'm
mense cheering. Portions Of his speech
trayersed the same ground as in either of
his Columbus or Cincinnati speeches.. We
omit those portions. He began by saying
that on Friday last he had been comforting
with our excellent President on some i'm:
portant matters, and AZ the close of the
Conversation had said that be had a great
notion to 60 out TO Ohio. and vote the
Union ticket. The wheels of his depart.
ment we're running pretty smoothly. He
had twenty. five mellions ahead TO pay the
soldiers on the fret of November, aud If
the President had nothing particular for
him to do, he thought Re would go. The
President had told him he wished he would,
of giving his vote TO swell the immense
majority for the Union ticket in OHIO
After speaking Of the magnitude of the
victory, and of the present favorable pros
poets of our arms, he continued: Your ex-
cellent Governor has been pleased toirefer
to my own services. wish could be-
lfeve they deserved q little Of the eulogi'
ums he has been kind enough to pass upon
them. Il seems to me that in my financial
course I have but been the exponent of
what must have been the plain popular
judgment all the way through. When l
began the duties of my Office, that great
leader, perhaps | should say that great fol-
lower Of public opinion, the London Times,
said that Mr.. Chase would soon be coming
over there to borrow money to carry ON
this wicked war, and that when he came
he would not get It. said in reply that
wouldn't 60 there 70 borrow money, but
that they should come here to ask me to
take their money of them, and that il they
waited till Nc. Chase went there to borrow
money, they would wait till their green isle
sank in tho ocean. - alaf
began then by borrowing ell the gold
could get in the country, l raised one
hundred and seventy. Eve millions and be-
gan paying it out, and It was soon observ-
GO
Il WAS paid out. Presently capitalists re.
fused to furnish any more, unless At ex-
travagant rates, which wouldn't pay
More money must be raised. Eastern
banks proposed TO take the notes of the
Government for the amount Ne wanted,
with ak per cent. interest, and then go to
work to Manufacture the money to furnish
us. SO all things would have gone swim
mingly for a time, but presently something
would have happened. What would you
have had me do with such a proposition
Just what did, Think, It seemed to me
that il could get the collective notes OF
all our citizens they would be just as good
as the notes of every bank. What should
i do then but get those notes.-the notes OF
the whole people7 What, in short, but
make green-baeks2 Attirst many thought
it bold and hazardous experiment. Many
bankers predicted it's disastrous failure,
and a disposition was manifested TO break
us down by discrediting this currency
Some refused 70 take IL altogether. What
was there next to do2 What would you
have done, if you had been in my place 2
Precisely what ! did. Ithiuk you would
have told them, as did when they refused
Il, that they would have TO take either that
or nothing. In other words, you would
That was the next step. After that we
came 10 an issue of bonds, paying the in
terest on them in gold. We found we
could get the gold TO do it, and that we
thus had our finances on basis that Gu
tirely satiefied the public demand for secur-
ity Of investments. Now is there in
this system that does not seem precisely
what any one OF you would have felt like
doing2 You have currency that sup
plies all your wants. which is simply the
faith and credit Of the who'e people put
into money.
One step more was needed. It was ne.
cessary to have the capital of the country
engaged in this circulation to give It sta
bility and permsnence. To secure this we
devised the National banking system =
The whole financial policy Of the Admin
istration thus became as plain as the al
phabet. Itrequired simply an honest pur.
pose to know what was best and right 10
be done, and having found this right, II
only remained TO ask God for courage to
walk in It. Common sense and courage
are the alpha and omega Of the theory and
practice Of finance thus far, and now I
have given you about as much of a report
on your finances as shall give Congress.
Permit me word or two on what seems
likely to be the issues Of this war.
Through all its rise and progress, see
the distinct indications Of Divine ProYi-
dence. There had grown up with ns an
afistocracy hostile TO free labor aud free
institutions. You see that it Was an arts
tocracy that equally pressed on slaves and
white men who were unable 10 own slaves.
II seized this government aud made it work
their will. II encouraged the revival Of
s. :sosss ~ ts the As e s s9,s
So successful, 60 compact, SO determined,
il resolved to break mp. this republic rather
than TO submit 70 verdict Of popular ma
jority that affected its overwhelming con-
troll, Mr.. Liucoln was elected President
they still had poRer-stil had prestige
ahnYe all. still had The aasurAnca that The