, 1867-08-23
KaIiula Corresnondence.

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cidedly dull, and the weather most uncom-
fortably hot, thought few lines on, what
will ere long be, warm subject, would not
be out of place. As all the big guns, and
penny whistles have opened out PRETTY
strongly on the
FINANCE QUESTION,
1 may as well "toot my horn,' though l
fear it will fall still born among the radical
portion of our community; because, finances
have become an ulceratiDg sore on the raids
cal party, and, cancer like, is fast making
inroads upon their future prospects. But
the truth may as well be told as to be looked
at; and that we are rapidly Fastening on to
final crisis, is so evident to every one, that
the bear mention should be enough to let in
food of light upon our present, and pros
pectivs condition. The financial scheme of
the Government to-day, is nothing more nor
less, than rottenness and corruption, stalking
abroad throughout the land. The enormous
debt under which we are staggering, it is
true, was largely inaugurated while conten1-
ing armies were in the field; but while our
legitimate indebtedness duri2g this time was
large necessarily, the swindles perpetrated
upon the country were enormous. have
before me a small volunre, being Vol. 2, of
the report of Congressional Committee, into
the swindles perpetrated upon the Govern
ment during 1862 and SO; this small vol>
ume only contains 1862 pages O but is
Continued" By the report 1 find that
large number of vessels were chartered for
the use of the Government, whose charter
money in many cases, amounted to more
than the value Of the vessel, ere she had
turned wheel, or boisted sail, to earn one
cent in the department to which she was as
signed and in many instances the Govern
ment agent received from 23 to per cent
Of the charter money. No wonder we ran
in debt rapidly under such management as
this. But the crowning act, and the one
that sticks in our crop, the act that "would
not down." to all our friends (I) the radi,
Gals, will say or do, was when, after these
loyal sharpers bad made all they could, i'm
mediately, by charters and contracts, they
o'erwhelmed our worthy Secretary of the
Treasury with arguments, going to show that
the war must close for the want of the nee
essary sinews-money-unless he would is
sue about one thousand million of bonds, the
interest on which should be paid in gold
coin, and tho bonds themselves be made free
from all taxation The relatives of our
worthy Secretary, Hon. Salmon P. Chase,
being wealthy, and he not being poor, fnan-
csally, nor physically, finally concluded to
accommodate his relatives and friends, and
put money in The purses of the Nation, and
thus be enabled to carry on the war to a
successful termination, did issue the bonds.
About this time greenbacks we're worth from
80 to AZ cents on the dollar, consequently,
the whole one thousand million dollars worth
OF bonds was actually purchased by capitals
lists for less than five hundred million dollars.
Putting the figure of our urtaxed bonds at
one thousand million, here was clear gain
to the monied men, of over FIVE hundred mil
lion of dollars, by this little side speculation
of our worthy Secretary; and all made out
of the Government
About twenty-eight years ago, this man,
Salmon P. Chase, was induced by his friends,
to enter into little land speculation the
scene OF his operation being about three
miles below Cincinnati, on the banks of the
Ohio river. A piece of land was purchased
on a side-hill and he erected two splendid
brick cottages, to rent; they we're both ext
actly alike, and were splendid to look at, and
known as the "Twin Salmons." But the
foundation proved insecure, and before the
first year had passed, large iron rods had to
be put through them, and fancy anchors on
the outside; but all to no purpose; "burnt
brandy" would not save them, aud two years
after their erection, "naught but a pile of
sticks and stones told where the fray had
BEEN" Ever since, the site has been known
as ''Cbase's Folly" (This is no fancy sketch,
but an actual fact, susceptible of proof even
now in this Territory Chase will find that
his untaxed bonds, built upon as fimsy
foundation as bis Twin Salmons," will haunt
him, and his party, somewhat more than his
''Twin Salmous" did at the time The inan.
cial ability of the man was truly portrayed
in both cases. am inclined to think that
Chase was properly named "Salmou P. (Per.
sue }" for in all his financial transactions.
land have known him over thirty yearsl
be has followed the instincts of that fish
he always starts headlong into the stream Of
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