The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1864-07-06
-. - n.s nna,isa..-Wh hat il Means


seyera, moa,hs ago. before bahss h'e
,,o.u routed, In i.ouisilns. and before ei'''
an, sherman hal opened the campaigns )"
VIRGINIA and Georgia, Chase &c nndefs''"o ~
have declared that the success Oh his hea"-
c,s, n,ans depended upon the success u wv
Yankee military operations. Ihe hnah'"''
operations have failed disastrons'y 10
already acswoarledged 10 have reachea ~
and. we have no doubt, has really s"he
greatly beyond that point-and ShaSe "''
thrown up In despair Ills resignation Is
main confession tina. Ae sees no hope III the
only quarter from which hope eon'o e"'"o
In the army. Ii is silent but siSh'hean'
reh,ka OF that Administration when mas
81 long been dsludng the public with shouts
Of victory, while 1t knew that lis armies
x,are meeting With nothing but disaster al
a,,.rv atom they took. Chase was behind the
c,rt.,in. and he had full opportunity Oh
knox,ny everything that passed. lie was
we'll aware of the slaughter with which
GIANT IA, been re3ulsedin every attempt he
had made upon the Confederate army
stanton might deceive the public, but ne
conh not deceive him. He saw the main
army of the United States, after having iost
largely over 100 900 men, brought to dead
stand In position from which 1t could only
escape by fight or surrendeE-with deter
mined foe, who had proved ITSELF It's sepe'
rior In every battle, menacing IL IN 'front.'
In a locality which even the inhsbitants
abandon at this season of the year on account
of uuhealthipess, surrounded by swampS
every gale from which is laden with death
perishing of thirst, or compelled to Stake 1t
with water which is poison to the Yankee
falling sick by hundreds, and in fair way
to perish daily by Thousands before the ex-
piratiou Of the summer aud the first days
OF autumn All this he saw in Grants camp.
When he lcoked around him he saw the
marauders whom he had selected to do the
business which his army bad failed to do,
beaten and flying in all directions. lie saw
the utter failure of Hunter, the total defeat
of Sheridan, and the dis2racetul rout cf
Wilson. He saw that Granite echeme had
utterly failed. When he locked for conso-
lation TO Georgia he saw Sherman bafiled,
discounted, and on the eve of great disaf-
ter. When he cast his eyes beyond the Mis-
sissippi he SAW nothing but defeat and ruiz.
He Jaw that Lincoln had already called out
100000 men to supply the place Of these he
had lost, aud he knew that they would not
do 1t, even in point of numbers. Was il
wonderful that be despaired of that military
success which alone could secure the sue
cess of his financial operations, and threw
up his Office under the influence of the
deep and bitter disappointment?
There are Confederates who take delight
in desponding-who will be satisfied with
no success OF our army, and love to magni
fy every petty reverse-who cannot see any.
thing hopeful in the result OF the many con,
tiicts In which Lee has put hors DE- coatat
the majority of Grants good troops, and
LEFT him to fight his way with hundred day
men, but think it ominous of approaching
if railroad bridge break in or
a car run of the track. Such persons, if we
did not know that they take q pleasure in
being miserable themselves, and making
would ask. What can be more significant
than this resignation, and whether it does
not make them ashamed of their unmauly
fears? Who knows the truth OF the situa-
ton ii Chase does not? Who has mani
tested greater degree Of determination, or
a greater amount of faith, in the fortunes Of
the country, whose financial sffiirs he has
so long conducted? OF what is his aban-
document of his post Ill this hour OF peril
proof, il it signify not that he has no hope
OF the army or of the lnances2 Aud while
there is despair on that side, why should
We hear OF croakers On this ?
Chase was undoubtedly the ablest officer |
that Lincoln ever employed. Gen. Andrew
Jackson said that man who traded Oh credit |
ought TO break. Whetherh he ought or ought |
moi, he is pretty certain TO do it in the long
run. Chase attempted an inpossibility, and
failed. But he put off the evil day longer
than any other man could have done It,
and he gave proof of great ability in doing
Il. He undertook to conduct o gigantic
war, Involving al expenditure equal to two
mlllons per diem entirely on credit, and he |
did 1t for three years. Such thing never
was done in the case Of an aggressive war
before, whatever might have happened in
wars of defence The Yankees were deter
mined to have big war, and then to pay
nothing for it. In the first they were graft
led. In the last, Chase gratified them as
" as he could. But the Inevitable pay day
has come at last, though long deferred
There is no alternative but reputation, IN
less they should think it better to have
peace. But reputation is peace in point
Of fact In the meantime we look forward
10 the issue of fresh batch of Yankee
Treasury notes TO the amount of 81 COO ,0O0,-
Zoo or so as thing Of certainty Before
this year shall have passed the greenbacks
will be worth about FIVE cents in the dollar,
Il