Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1864-08-25
From the London Times, July 20.
.r~ksn, rP NJ F!hase

Themistocles was proficient in the art Of making
small city into large Mr. Chase is, at least equally
little Yet let as not bs unjust to this mighty
IN e S % b must .ee
ton less complete according to the genius Of the
philosopher to whom Gv was That @ may
thirsng for revenge unsuitable of empire, stsau restV
ed but equally amy
men, material and MONEY AS regards men, the
oea Of ny we're very n Ans con-
source left bride into the ranks those who could
neither be forced nor persuaded Thus enlistment very
ply Of men speedily resolved itself the deeper and
difficult problem Of the supply of 1aoneg..
The maxim which lies at the bottom of the system is to
Danish from your mind all idea Of paying o. principal and
in order make the required sum, which is to be
paid. large pogsiba, to be particularly careful with
regard to the Of the interest Ioerest accord
the founder is net sum paid the orbearance Ron
eyit rather bait by of which fresh money may
got the interest must BE- paid with utmost runofuaitg
the borrowed may have sunk b. the depreciation of
the currency t. twohds OF its metallic vaue, but the iu
teres must be paid in gold although by that meals the
charge il much more Than double Hayi thus done eFa
rSthpg in his power drive god out Of country Hr
Chsses system required him to do everything in his power
to keep back. and hence nuuher OF operations which
consisted ia selling st logs whether gold showed in
convenient tendency to rise, ard expelng it from the
couatry by prohoi.ng those who dealt n it on seog
tention, when money to DO borrowed. Of
Pu liatng frs the interest and after decent aeIval Of
this picture him ask himself by what means he suppo
that present of America s to be restore
the standard be the war, how he cansuDpose that
any in his who meant to would be Dor
rowing money at rae OF interest thsn double of
that which it 1oriiDaiiy bears.
Let Us, however, be jast to Nr, Chase. lie had not
m1ry weapons IN his arm0rg he had promi.ea VII ch he
could not break he had vbich he could de
base and he had god which il lot wasted in tue
pendiure OF ii0gersmenS might do good service il aurg
fresh auoacr5era to eis opan loans De has used
them all to the utmost &C ual money he Would aso have
used if he could have goit. Bias il would be us to de-
ny that BE has done a that could bo done with great
substituted powers bundles Of credit and the in
vestiDg woEblesa paper with the priveco Of legal ter
DER. lie has 10: eavod his country bat ne hsa vsn
her, in cIcbsug3 for inevitable ruiz, vary fair
opportunity OF dragging dowo the reo5iIi2us South
into the sane d.s5lucflon with hers3f. The wseat
thing h has dopo ID TO watch The gradual Initiation If tie
bubb ad to leave th aesabe tas< Cf assisting ct It's
bursting to ME. William Pitt Fessenden gentleman said
be firm believer in Mr Chase's syselAs Such faith st
such moment merits that Of martyrdom which il
is assurcdy destined to. Nothing in Err. Chases admiae
ration has been wise his leaving L. AID it will BE-
difficult for Nj Fessendsa to do anything fool
h while he in o'e than he has already done by accept
ing it.