Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1865-01-11
Financial and .MIlitary RevIe1v OF Or
1s64-What has been Gained.
From the Circular Of Jerome, Riggs 8 oo.

| E4AcAaA anu military Review OF.
1s64-What has been GaInsdI
From the Circular of jerome, Riggs Co.
In the present state Of the country a re.
view of its material condition and progress
for the year, which it's close naturally
suggests, would be, most unsatisfactory and
incomplete did it not take fully into ac-
count the social and political changes that
in the mean time have taken place.
Four years ago the nation was free from
the burden of debt It's disruption forced
the government to create one, reaching at
the present time to $4,000, 600, 900 and
which must still be largely increased. All
thiswas notonly new experience with our
people, but the whole burden had in the
outset, to be borne by the loyal states, in.
vindication of the nationality, and in the
restoration of the political integrity of the
| country. Large as the debt is, and rapidly
as it increased, it has always been, thanks
to the loyalty of our people, and to the
generous confidence in their strength and
in their final success, favorite subject for
Investment. Into the public securities
have been converted a very large portion of
the accumulated capital of the country.
They represent that not only of Savings
Banks but those of discount. In them are
invested the funds of charitable, literary
and public institutions; and of persons who
depend upon income from capital for sup
port, now very large class in the United
States. Whatever adds to or diminish es'
the value of these securities, is conse-
Iquently a matter of transcendent impor-
tauce. But this is not all. The Government
has assumed what no other ever undertook
to supply, a circulating medium for the
people consisting of its own promises to
pay. Tho value of suOh promises measures
that of every particle of property that is
bought or sold. There was never an in.
stance in history in which the interests of
Government and people became so COM
pletely fused. Society itselfis based upon the
public faith. The standard of value is the
degree of credit that Government enjoys
All are enriched or impoverished in ratio
as that is strengthened or impaired. The
loss or destruction of that credit is ca
lamity too frightful to contemplate, for it
wouldsbe nothing less than the destruc-
: tiOn, for a generation at least of the cap
ital and industries of the whole country.
However gratifying the picture, conse-
qQently, that might be drawn Of the material
progress of the country for the year just
closing, it is the view that is to be taken.
of its political or social condition that is
to assure or depress US. Are we restoring,
or are we creating nationality, com.
munity of interests, sympathies and ideas
Icoextensive with one vast domain, by erad-
icstiug the refractory elements which have
disturbed our domestic tranquility since
the formation of the Government. Are we
restoring the moral and political as well as
territorial integrity of the. country, so that
our burdens may eventually rest upon the
whole people2 If so, everything else is
secure, as the material welfare of the peos'
4 pie is necessary sequence of sound and
harmonious political condition. FL,
The great feature of the past year has
been the steady progress in the. slavehold
ing territory, of the sentiments of the free
States, in reference to slavery. The, diyi-
ding line between loyalty and disloyalty in
the outset was that which marked the di-
vision between bondage and freedom. We
could not expect q restoration of harmony,
; so long as the cause of discord existed.
The croWning events of the year, .conse=
lqQently, have been the enfranchiSement
Of three, great States-5Missouri, Louisiana
and Maryland. The. last two have changed
entirely their organic laws in reference to
: slavery, while Missouri has decided by a
vote of more than two to one to make q
similar change. AT the outbreak of the
rebellion nothing prevented Maryland and
Missouri, though Border States, and
with interests identified with the
Il NOELuS .AOW-r ROluS Win .4G4o =E0b64l4gH
at full length but the overwhelming mill
tary power Of the Federal Government
Nothing prevented the adoption of an er-
dinance of secession in the former State
but the seizure and imprisonment of its
Legislature. In Missouri the executive and
NEARLY the whole of the political power of
the State was exerted in similar direc-
ton, aud for years parties were so nicely
balanced, that nearly every portion of it
i has been the theatre of bloody contest
> between neighbor and-neighbor. The
moment that the people of those States
determined to rid themselves of the curse
of their great social institution, their 10y
atty became as signal as that of the most
jealous Of the Northern States. They as
we'll as. Louialaua, are neuceforth indis-
solubly linked to the fortunes of Govern
/. ment, and eagerly pledge all the means
J they possess in men and money for its
support. The same will be the case with
the people OF Tennessee, as soon as they
can act by the ordinary mode of a, conVen-
! ton appointed directly from the people
The destruction of slavery by the opera
5 ton of the war, has removed the last
!, obstacle to her perfect union with the
loyal States. Kentucky is fast laying the
j groundwork for a similar unity in the Yol-
|. 1ntary abandonment of slavery. Although
she did not attempt to join her fortunes to
those of the seeding States, she greatly
embarrassed the Government in the out
4 set blythe attitude. of neutrality she as.
i. sumed, and by the aid which, large por-
tion OF her people extended to the insuE-
I1ofS HinUs