Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1865-04-07
THE FINANCES.

|
interfering CorreGpondence on FL.
naneinI Annirs--LetIor from See.
reLary MeCanOeh--The BatiOnnI
Resources.
Z The following correspondence, the pub,
Eeation of which has been authorized By
the Secretary oi the Treasury, will be read
with interest.-
DRAa SIR:-From the moment of yonl
entrance on the performance of the duties
OF your present Office, newspaper CORES.
| poudeuts have been most profUse in furn-
ishiDg information ae TO the policy you had
determined to adopt, and all of it has been
of a character well calculated for produe.
! ing in the public mind the alarm that now
| so obviously exists. Al one moment We
have been assured that you had srranged
TO bring about extensive imporsations Of
gold, and that n the mean dmeIarge quaa-
titles were to De held in reserve, with a
view to checking any upwsrd movements
in its price, At smother, that greenbacks
we're being gradually Withdrawn from the
| circulation, and that Joawere entirely con
| fdent of your ability soon TO redace the
| premium TO twenty, even if net to ten per
cent. In oue thing nearly all have been
I we'll disposed to unite, and that has been
that an early resumption was the cardinal
point in your system of policy, and that it
vas to be sought at Whatsoever cost to the
capitalists or wotkirgmen of the country.
Nothing, certainly, could have been devils
ed that would have been better calculated
for producing the almost universal panic Of
the fortnight through which we have just
now passed. .esz
For the first time incur history the Gov.
| erpueut has made itself partner in the
| profits Of sii our mills, mines, furnaces,
tanneries aud workshops. As these have
increased in number aud in size, and az
| their oEners have prof ted, the internal rev.
eoue has steadily grown until it has reach
ed the extraordinary amount of nearly q
million dollars per day. In the direction
Of further increase, ald in that direction
alone, resumption might be found. Now,
boWeTery We were 10 be required 70 move
in one il which at every step We should
meet With fac'ories thst had been closed
turnsees thst had gone ont of blast, mines
that had been sbsudoned- capitalists and
laboEers who had been isEoIVed in one
common ruin, a2d thus deprived Of all
tpower TO courrfbdte to The public revenue.
That way, as vas clearly seen, led 10 re-
pudiation aud not 70 resumption. That il
shonld oe IN Ihat direction you would have
rs move seemed almost Incredible, and yet,
80 positive and 50 persistent had been the
IassertiOns of the self. appointed promulga-
tors of fypur decisions, thst it seemed scarce
ly to be doubted tbst they have been accu-
rately expressed. Can it then be regarded
as sfording cause for surprise that alarm
had become slm9st uniVetsaI7 As it seems
to me, It csnnoA
Thatthere had been no real ground for
tit have now and With great pleasure,
IH..--.S
have desired that all should appreciate the
fact thsS ultimate resumption was the point
towards which the nasioual ship was TO be
steered, and thH1- -Ihey thepsei7ez Fhould
trim their sails for movement in the same
direction; but you EQUALLY desired that all
should understand JlBr wish 10 be that the
approach thereto should be male so grzda-
al as not 10 ohsfect njuriously any of those
great interests upon whose prosperity the
Treasury itself SO much depended.
Not wishing in any manner to hasten it
you had had 40 thought of Importing gold,
cor had you IN any maoner Diminished the
narionsl circulation. Holdiog il your hands
full power to add it, you had seen nc
reason for go doing, the rapid extension
of the national banking system having the
present effect Of gradually increasing th {
general circulation Feeling that in n-dl
tee future the Treasury must be dependenu
maiuly outhe internal revenue, you would
glady CO operate in the effort to obtain
from Congress such notifications in the
Tariff as might be needed for enabling auJ
of the great national industries 70 com
ply Bifh The demands of the Treasury With
out intrenching upon those proper profit:
to which, alone, co1ld the nation ever look
for such extension of their ,oPeEatious as
was needed for keeping the supply up to
the demand of q constantly growing popu
lstion, and giving 70 The farmer larger
and better market for all his products.
, Such, my dear sir, are, Bs think, the
views that Jon yesterday expressed. Could
they be generally heard, they would, as
think, greatly quiet the public mind. As
they cannot SO be heard, WoQid it net 7be
well that they should so be read? All are
anxious for light, aud all would, am very
sure, be grateful for that which yoU SC
readily could give. -z
Excuse this trespass on your attention
and believe me, my dsar sir, yours very
truly. HEzRT C. CARLY.
| Bon. H. Neeuiloch, Secretary of the
Treasury.
PhiIadslpbia, March H. 1855. .sn5lif!E
es-l - - Ffrz - z2s-r
TREAsuRI DEPAsTNRsT, April I, 1865
Dear Sir: Your favor of the 27tt 'ulsis
no would have received an earlier ppIJ
bat fog pressing eaieia1 duties. I. hsIt
now only time % remark briefly that al
aOt responsible for what the newspaper
may have said about the financial polIc1
shall adOPEHs Secretary Of the Treasury
Amidst the great eVents that are trans
T pfring in the United States, oTertuEnini
theories and eoufoundiug Ihe= wisdom Q
: the sWissst, B. s-5SscretaEy ct tie Treasur
? who should sTow, or even deteruine=de6
nitelT in his own mind, his future policy