Holbrook argus., 1911-01-17
NEW NEWS OF YESTERDAY
Simple Appeal That Got $50,-
 100000 in Gold.
How the Bankers of the East Re- sponded Instantly to Secretary Salmon p. Chase's Call
 for Financial Aid.
By E. j. EDWARDS.

and New Jersey was one Of the great bankers of United States at the time of the civil war and for twenty years thereafter During the first two years of the war he was more intimately as sociated with the Lincoln administra- tion on the financial side than any other of the country's prominent bank CTS of that period. Of course, he thus came into close and intimate contact with Salmon P. Chase, who has gone down in history as one of the coun- try's great secretaries of the treas ury.
 For a number of years before he became member of Lincoln's cabinet l had conceived high admiration for MT. Chase" said MT. Coe to me when old-time finance was under discussion, 'but not until some months after the outbreak of the civil war was I privi- legged to meet him, and that meeting resulted in one of the most dramatic incidents, in connection with big finance of which I have personal knowledge
 You may remember that when T gan the government was almost in bankrupt condition. It's credit was very low, and there was practically no gold in the treasury. Yet, if the north were to have an army adequate to cope with the resources and determin- ation of the confederacy it was abso- lutely necessary for the government to "a fo hot chase supplies and equipment for it.
 At the height of the uncertainty over the governments financial condi- tion, following the outbreak of war, the bankers of the east-New York, Philadelphia and Boston-received an intimatioE that the secretary of the treasury was anxious to meet them in confidence, for he had message of great importance to communicate to them. An appointment was at once made for Secretary Chase to meet us in the directors room of the bank of which 1 was then president.
 There, prompt almost to the sec ond, MT. Chase appeared on the day and hour set and we were introduced one after the other to him. The gra- cious dignity of the man, certain majesty of manner-I do not know how better to express 1.-the great intellectually revealed in his face, the noble poise of his head, his entire per. sonality, greatly impressed me, and l am certain that every other banker in that room was equally impressed.
 of ha ;r+r
 over and a few casual remarks had been made, Secretary Chase began tc deliver his message. He spoke quiet ly, in low tone of voice, but every word was distinctly uttered; his was one of the most attractive voices have ever heard in private converse tion, and then it was that I under stood what his great charm as a pub lie speaker was. And this was the message he brought to us, substan tially in these very words:
 Gentlemen, the government of the United States Is in need of gold. It is in greater need of gold than of ar army. This Is so because it will not be difficult to raise whatever size army we may find necessary to save the Union Enlistments will proceed are proceeding, all over the north. Bu what are we to do with an army un less we can feed it, clothe it. provide 1t with equipment and ammunition?
 Now, gentlemen, I am no finan cier. It Is my duty, under the law, tc administer the finances of the coun try, but it Is no part of my duty. no is it within my power, to raise none! until congress gives me that power You are men of finance. It Is you business to know how to raise money I appeal to you, having nothing to of fer except the credit of the govern ment, and the preservation of tn. Union for fifty millions in gold. Yo, know how to secure that gold. I shal know how to make wise and efficien use of it. This, gentlemen. is th, message had to deliver to you"
 MT. Coe leaned forward in his chair He got the gold on the instant" h, said, emphatically.
 Copyright. 191O by E. J. Edwards Al
 Rights Reserved