The Xenia sentinel. [volume] (Xenia [Ohio]) 1863-186?, 1864-06-21
The National Finances.

Wepity Mr.. Memminger-rebel though
he is--fur the duty of providing way:
and means, NJ matter how illusory, for the
maintenance in efficiency Of the insurgent
armies, is too severe a punishment even
for treason. We pity also Gov. Chase
for, though ne is not compelled to make
his brick absolutely without straw, as is
bis rival, yet his task is UercuIeau, and
he has 10 encounter an amount Of sinister
and surpentine hostility that would not
be permitted or endured in Dixie. The
Copperhead press, with scarcely an excep.
ton, and including a good many snakes in
the grass like the Commercial Advertiser
of our city,war upon our efforts to sustain
the public credit and meet the enormous
current obligations of the Government,
with uatiring pertinacity and implacable
malignity. He who reads the Albany Ar
gus, Philadelphia Age, Chicago Tim IS,
Cincinnati Enquire, and the kindred Jour
mails issued throughout the loyal States,
and does not know that they are animated
by joyful hope of producing hopeless
collapse and paralyses Of the National
credit, whereby the War of the Union
shall be arrested and triumph of the
Rebels secured, must read with little dis
cernment and less patriotism. To exag-
crate the amJunt of tho National Debt
and of the current ratio of expendi.
ture-to disparage and belittle the Ma
tional re5ources-to cast doubt on the
ability or the will of the Union to pay
the debt now being incurred for the pres
ervation of its existance-to magnify the
reverse and losses of the National armies
and helitIe those Of the Rebels-such
are the means whereby the Copperhead
journals incessantly labor to undermine
the National Credit and subscriptions to
the National Loan
A favorite resort of the disloyalty which
prefers to war upon the Government with
a pen rather than musket is noisy AMI
supper-service-able championship Of the
State Blnks, Gov. Chase holds it assem-
tial to the maintenance of the solvency
AMI credit of the Government that all
the paper circulation of the county shall
contribute thereto-in other words, that
whosoever shall be permitted to circulate
their own notes as money, aud thus to re-
ceive interest on their debts, shall pay in
to the Treasury large share Of the profit
thence ACQUIRING. He urges thatthe entire
currency shall, so far as possible, be Sc
cured by and rest upnn the credit of the
nation, so that every banker shall bavo
direct aud palpable interest in upholding
and extending that credit. This, ofcourse
interfere5 somewhlt with the convenience
ard profit Of bankers, especially those of
the red dog" and owl creek varieties,
who, very naturally, prefer to bank on
public credulty rather than on public Sc
curities, and who consider six pr cent
net income from their debts decidedly bot
ter than three or fur. We do not at all
blame them for tho light wherein they
view the subject; butwe insist that the
Government must be upheled and the
Unipn armies fed, equipped and paid, even
at the cost of a serious cu,tailment of
their profits: Necessity is upon US, and
there is no alternative.
Our Paper Currency is notoriously too
redundant, causing au inorlinlte and