It is very obvious that
It is very obvious that they might have been greatly aggravated by slight changes; but it is not easy to see how they could have been more skilfully met and parried than by the measures which have actually yielded such brilliant results.
The most signal triumph of Mr. Chase's whole system of finance is to be found in the truly marvellous success of his favorite five-twenty bonds. Even at the present time the public enthusiasm for these securities seems to be unabated, and it is more than probable that the whole amount authorized to be issued will be taken up quite as rapidly as the bonds can be prepared or as the money may be required.
Not without good reason does the Secretary attribute the 'faith' thus shown by the people 'in the securities of the Government,' to his national banking law and the prospective establishment of a currency 'secured by a pledge of national bonds,' and destined at no distant day to 'take the place of the heterogeneous corporate currency which has hitherto filled the channels of circulation.
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