The times. (Owosso, Mich.) 1882-1897, 1894-10-26
MONEY PATRIOTISM.
VIVA IT COST TO SAVE A NATION
INVOLVED IN WAR.

4
Spirit.
| A third Of q century ago the test Of
loyalty was applied to the American
citizen as never before and perhaps
never will be again under q like condi-
ton of circumstances. The people who
have lived during these past 33 years
have been dazzled by the achievements
of our soldiery. All the deeds of hero
ism which crowned our success have
been attributed to those who fought on
fields made famous by the sacrifice Of
our soldiers. Poets have sung in raptur-
Gus strains, and orators have painted
glowing pictures of the sublime deeds
of noble souls who rushed into the bat
tie smoke and saved nation in the
hour Of its greatest struggle The peo-
pie never tire Of recounting the achieve
ments of Grant, Sherman, Sheridan and
the hundreds of thousands of brave men
| they led ON many tiresome march and
assaulting impregnable fortresses. None
| too much has ever been said Of these
men and their heroic work. 1t is rather
to be regretted that they are now among
the forgotten ones or the neglected ones
in the public mind
There were those whom fortune smil-
ed upon, whose power of wealth was to
be a factor in the problem Of the war
that few people have ever investigated.
In 1861 the rich men of the United
States, those who owned the capital,
those who had managed the great finan-
cial enterprises that carried us forward
to the period of the war, were to stand
in the forefront of the country's great
est danger and decide the future of the
struggle.
The first battle of Bull Run had been
fought and lost. The treasury of the
United States was empty. The soldiers
in the field were unpaid. Means for the
purchase of army supplies were want
ing Equipments for troops were every
where being called for without the
means with which to purchase. What
was to be done was the great problem
that met the men who stood for the ma.
ton . safety.
The secretary Of the treasury, Salmon
P. Chase, by appointment met num-
Der of bankers of New York and Phila-
delphia in New York city on the 10Th
Of August, 1861. The government asked
for q loan Of $3.50, 600, 900 and gave
notice that it would need as much more
in very short time. The secretary in
this meeting presented the condition
that confronted the country as only Mr..
Chase could do it. After the glowing
picture painted by him of the country's
needs and the possibilities Of the war
the bankers present replied that the
bank funds were largely in the nature
of trust funds, and duty to the deposit
ors demanded that these funds should
not be jeopardized.
This was the most critical hour i'll tho
national history. Neither before nor
since has there ever been time when
the turning of few men against the
governments demands would have been
so fatal in results. A Philadelphia
banker. whose name will not mention,
addressed the convention, or the meet
ing, with an eloqucnce that would have
done honor to Americas great and most
beloved Webster He spoke for heroic
measures to save heroic country. The
picture painted before these bankers
was one of unselfish love of country. He
declared in the presence Of the assem-.
bled leaders of the wealth of the nation
that locality and home, city and state,
wero nothirr.
81 am" s, "a he, "a citizen e no
mean cit, but Of one that has &" p
ported the authority Of th9gov.-.
and is row doing it's full share to l..
tain the integrity of the nation, L,
here today in the presence of the gov
eminent of the United States, represent.
view of the Importance of the crisis
now before us, with due consideration
of the serious issue depending upon your
action today and regarding the wants
of the soldiers in the field and their
suffering families at home, waiting re-
ceipts of money which the government
owes, but cannot pay-in consideration
Of all this and more which it is need
less ID mention / am not Of Philadel-
phia. am of the United States, as I
am sure you all are--not Of Boston, of
New York or of Philadelphia, but of
the United States, the security Of
whose government is now Imperfect by
assaults of enemies armed to battle for
its destruction.
After tho address above referred to
had been concluded lie appealed by ask
ing that vote be taken on the secreta.
ry's proposal, which was unanimously
agreed to. The crisis was passed. The
bonds of the government were accepted
mt par in order to show to the world
that American capital was loyal and
confident by this ono stroke of success
full finanoiering the government received
its first $1t0, 600, 600, by which it was
enabled to carry on the great struggle
and bring back business prosperity again
to the nation we all so much love.
In order that the public today may
know something of the spirit and char.
acter of the men. who thus shaped the
nations pathway out of its financial
difficulties, it is but necessary to relate
the following as an incident, which oc-
Cured at the tive: Secretary Chase
presented to the company assembled