The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1864-02-10
VOL. XXXIV.

tribute to our Navy.
All who read the newspapers have
seen, from official sources, emanating
from England and France, and finally
from the so-called Cofederate Govern
ment, the admission that our Navy has
rendered efeetipe the most ,conderfnl Oock-
ade Of nhich history makes record. The
late message Of jefferson Davis is dolo
rous in its groans over this Federal
! achievement. 1t was supposed to be i'm
, possible to blockade such an extent of
coast But that this has now been done,
correspondence which has of late fallen
into our hands Besides the official ad-
missions referred to, we have the testimo-
nv of this fact in the number of prizes
| Of blockade runners; in the letters Tin
tercepted) from those engaged III such
risks.-The port Of Wilmington now APP
pears to be the only one the blockade of
which is not positive. Need we call up
on an intelligent reader to mark the en-
phatic fact, that it is the stringency Of
this blockade which precipitated the
'Confedracy'' down into the gulf of
bankruptcy? Suppose that their cotton
had been enabled to go out and gold, or
its equivalent, to have been returned to
them; would we, in that case, have lis
tened to the walls Of the rebel chiefs over
their nearly worthless currency?
In view of such an achievement, we
can well afford to endure the barkings of
the "little dogs" OF course, here, as
| elsewhere, there have been experimental
failures; wasted disbursements, and, un-
doubtedly, some fraudulent contractors.
But shall we not give to God glory for
this magnificent world, because vile
things go along with its grandeur and
| sunshine!
| A single glance ut the operations of
the TREASURY DEPARTMENT presents a
most wonderful feature of Mr.. Lincoln's
administration. Better than all other Sc
curities, the loans of the Government
have maintained their integrity. The
! five-twenty year six per cent. loan, the in
terest on which is promptly paid in gold,
has been subscribed to, all through the
pressure in the money market, at an av
erage Of more than two millions per
day And what is not the least crafty
| ing fact, in connection with the large
daily subscriptions to this popular loan,
scarcely any of it IS returned TO tie market
for sale. 1t is taken for investment, and
held with unfalteriug confidence. This
fact is, indeed, worthy of proud con
temptation. This Government now, af
ter two years of the most gigantic war
the world has ever beheld, experiences
no difficulty in commanding the means
necessary to prosecute it, OF in paying
regularly the interest in gold as it falls
due. This great fact, in itself, dispels
all aprehensions on this score for the
future; since, if this can be done while
the war is being waged, who can antici-
| pate any difficulty in accomplishing the
same result when the war shall be over?
In fine, the War Debt proves to be
safe and capital investment. Shall we,
growing and Titanic nation, apprehend
financial gloom and disaster when we be-
hold Great Britain, France and the
Netherlands representing the highest
European prosperity? nations that have
been called upon to endure the fiercest
and most prolonged wars. Consider, in
this comparison, likewise. the scarce ter
of the population of those countries the
| low price of their labor; their thickly
! settled territories their slight room
for development, and our magnificent re-
sources; our expansive domains, where
illimitable land awaits to be developed,
and where incalculable resources invite
industry and energy. Now while this
administration of the Treasury reflects
| the highest credit on the proper Secreta-
ry, nevertheless the entire responsibility
of the Government falls upon the Presi-
dent
Having carefully reviewed the leading
features of Mr.. Lincolns administration
tat all events in sufficient detail to enable
our intelligent readers to call up the mem
Org Of things as they hare occurred during
the progress of this gigantic war; we
feel authorized to sum up what we have
said, as demonstrating the fact, that we
have, under Mr.. LINCOLN, assumed more
character in the eyes of the world-yes,
and that we have become more conscious
Of our own power and experimentation
ever before in our history. We have sur
prised, if we have not awed the world by
our naval and artillery Improvements,
and by our vast rescorces and deathless
energy. We have shown that we are
rich, and that we are getting richer; that
we can carry on the largest war without
foreign loan; and that our own people
are the creditors of our own Government.
Not only have we lived down every for
eign sneer, and every foreign hypocriti-
cal and sincere foreboding; but we have
changed the entire aspect of Europe to-