Evansville daily journal. (Evansville, Ind.) 1863-1866, 1864-04-25
Financial Flurry.

About thirteen months ago we had a
furry in the money market not unlike
that which now exists, and In March,
lS63-one year ago-geld stoed just
about where IL does nov. Let as com.
pare the situation then and nov.
We were then Just feeling the foil ef.
fscs Of the success Of the spurious de
moeraeyh IN the several State elections,
especially in the grca. State of New
York; the North seemed, TO superficial
observers, on the point Of dividing the
military situation was critical. the para
lysing influence Of our disastrous PENN
sular campaign had been followed By
the victory az Antielam, from which Nc
Clellan could draw no greater fruit than
that announced by his celebrated dis
patch, OF Friday, 10Th September "Ths
rebels bad retreatcd aud Pennsylvania
was safe Next came our reverses in
the political campaign, aud Burnside's
defeat at Fredericksburg. Thps in
March, 1858, oas army under Hooker
was preparing for contest with Lee,
whose compact army under Sionewall
jackson and other leaders had certain
acknowledged advantages over our
larger army, commanded by Generals
whose internal dissensions were notori.
GUS
With our political and military pros
poets thus shadowed at home, our pros
| poets abroad were still more gloomy
4 The British rebels fitting out privateers
almost unchecked by their Government,
aud there was every reason 10 fear
that their iron-elads would soon be at
sea, ready to burn our cities or break
our blockade
What was our financial position ihenl
\ With gold as high as now, or higher, we
we're just beginning TO place the five
/ hundred millions OF iive-twenty bonds,
which were counted upon to fund he
currency and carry on the war. TIE
people were beginning to take them. but
capitalists stood aloof Now, mark the
result from that tune forward, and draw
from il that courage which IS so neees-
sarv.
We lost the battle Of Chaneellorsville,
and saw the Mississippi still closed and
an apparently deabtful struggle going on
ia the Southwest Yet the people rallied
to the rescue. the soldiers set an exam
pie TO their officers, the industrious clas-
ses set one to the capitalists, and both
were well followed. Gold feIl gradaaIiy
from lT5 10 l25. We have placed in
the Lands OF all classes FIVE hundred
millions of our bonds with steadiness
which gives assurance Of an equal sue
cess with all future loans We have De
veloped resources which surprise ths
most sanguine of our friends aud alaru
our enemies on both sides Of the Allan
tic
Our experiment with the negro race
has been entirely successful both ia 1
military and Industrial point of view
aud iusii6es the striking calculations o
one of our most experienced hnaneiers
Robert J. Walker, that the additiona
profit Of free labor would be in one yea
equal TO the whole national debt Tn
cotton famine has passed BY, and thi
. fruitful scarce Of foreign intervention
has disappeared from our catalogue o
dangers, Europe will this year ge
nearly three millions bales Of cotton. an,
her manufacturers and ours are agail
prosperous; the British iron-clads ar
stopped; the British people are With US
the negro reserve ol eisat hunure'
, thousand men are without disorder o
: insurrection coming into our ranks, an
negro soldiers, to prove their capacity
t have at Port Hudson and Wagner an
Olustee fought their way not only throug
: the lines OF our barbarian enemy, bu
1 through the preiudices of our Nerther
traitors
We have beaten the enemy last Jul
2 at Vieksburg and Gettysburg, and IN d
d streets OF New York, where they mad
q = their most desperate rally, more latel
II still in Ohio aud Pennsylvania, and Ne
Hampshire and Connecticut: and we no
8 stand a united people, with s vetsra
. army led by the hero of Vieksburg an
d. q Chattanooga, and larger in effective me
to than ever before. We see the whole Va
=, a. ley of the Mississippi in our posssssiol
the southern line Of Texas held by ot