Year: 1863

ai tuc 6vaii6Dl0 resources financial % well ~
military, that he can command. Such is no
doubt the fact, and we shall not be surprised
at any moment to hear of General Forey's
operations being arrested by an order directing
him to effect pacific arrangement with the
Juarez government and to ship himself and his
troops for France


The stnews or Wharf.-The Oncr or Money


from Eur0pe.


The statement that an offer had been made
from Europe for one hundred millions of the
new loan produced an extraordinary sensa-
tion In Wall street yesterday. 1t seemed to
produce salutary effect on the price of gold,
reducing it to l53. The terms of the Euro
psan offer are that the loan will be taken
at the present. rate of exchange, which, If &C
cepted by Mr.. Chase, would give him sixty
three millions in gold. This sum, considering
that the balance Of trade is in our favor, and
that the amount Of produce which continues to
be shipped is immense, would be amply suffi-
cient to enable Mr. Chase to make beginning
in the resumption of specie payment-the only
secure basis upon which the finances of the
country can be established No doubt it is
sacrifice to sell the bonds of the government at
that rate; but it must be recollected that the
country has now been two years engaged in a
war which is still unsuccessful and that the bene


fits to be derived from the sale of these bonds for
gold would far outweigh the temporary loss.
Soon the greenbacks would be preferred to
gold, as being more portable and convenient,
while equivalent in value.


The effect the report produced points out
the true policy of the government. 1t shows
that Mr.. Chase ought to make the state
ment true by negotiating such loan. 1t would
give our finances q new start and restore the
deranged currency to its normal condition.
Once properly started, it would be easy to
keep it right. The gloomy discomfort of the
people on account Of its present depreciation
and the imitation of the prices of all commodi-
ties would vanish like mist before the morn
ing's sun, and the troops would become more
cheerful, inasmuch as their pay would be prompt
ly sent to them, and it would be greatly in
creased in value Thus provided with the sinews
Of war, the government would be enabled to
prosecute the campaigns in the various sections



success, if the right men be put in the right
place at the head of each army, and if the right
man direct the whole from the national capital.
This is the time to strike boldly and wisely. The
uprising of the Poles promises to involve all the
crowned heads of Europe in the melee, and
there will be little leisure and no disposition on
their part to meddle in our affairs for some time
to come. Now, too, the intelligence reaches
us from all quarters that the people Of the
Southern States are in most deplorable and
destitute condition. They are almost starving
in whole sections of the country. This is the
opportunity for energetic action.


We must not forget the old proverb that Hea-
ven helps those who help themselves Without
military success all financial arrangements are
in vain. With victories following each other
in rapid succession, gold would soon he at par,
with ordinary prudence on the part Of the
Secretary of the Treasury. There is a tre-
mendous responsibility resting upon him, and
one equally great upon the shoulders Of
the Secretary of War. For the success or
failure of both the President himself is respon.
sible. We have the men and the money and
all things are favorable to success. If there
be failure it will be the fault Of those to whose
hands are entrusted the destinies of the coun-
try for veal OF woe. We trust, therefore, that
they will now act under deep sense Of their
responsibility, and recollect that to whom
much is given, from them much will be re-
quired.