The Salmon P. Chase Papers - Vol. 3

By John Niven; James P. McClure et al. | Go to book overview
Save to active project
Wrote McIlvaine on January 9: "I want some comfort about the affairs & prospects of the country--& I thought perhaps you can administer to me. Is there any light?" he asked of military affairs. Mcllvaine to Chase, Jan. 9, 1863 ( Chase Papers, Hist. Soc. of Pa.).
Lincoln had removed Ambrose Burnside as commander of the Army of the Potomac and installed Joseph Hooker. Long, Civil War Day by Day, 315.
In his letter of January 9, McIlvaine requested copies of the reports of the secretaries of war, the navy, and the Treasury. McIlvaine to Chase, Jan. 9, 1863 ( Chase Papers, Hist. Soc. of Pa.); Report of the Secretary of the Navy, 37th Cong., 3d sess., 1862, H. Ex. Doc. 1, v. 3; Report of the Secretary of War, 37th Cong., 3d sess., 1862, H. Ex. Doc. 1, v. 4; Report of the Secretary . . . for the Year Ending June 30, 1862.


Letter in clerk's hand on letterhead stationery, signed by Chase. Clara H. Mellen Papers, Bowdoin College (micro 24:0896).

Treasury Department. Jan. 27, 1863.

My dear Mr. Mellen.

The newspapers cannot be relied upon for correct information of what transpires here.1 Their Correspondents gather their information from street talk and conversations with Members and, occasionally, with Heads or employès of Departments; and, in the multitude of conflicting statements and opinions, rarely hit the precise truth.

The Bill of the Committee,2 which has passed the House, does not express my views, though in some respects it is much better than the Act of last Session;3 and so much was conceded to me by the Committee, that I did not think it wise to oppose its passage through the House though I should have been glad to have had it amended in several particulars.

First, I desired that interest on all temporary Loans should be paid in U.S. Notes.

Second, I preferred that the Treasury Notes bearing interest should be made a legal tender for their face value, excluding interest, instead of being made convertible into United States Notes.4

Third, I did not see the necessity of increasing the issue of U.S. Notes.5

Fourth, I thought the tax on bank note circulation should be a uniform rate of two per cent per annum, payable semi-annually, instead of the graduated Scale preferred by the Committee.

Fifth, I wished that the Section authorizing deposits in State Banks and checks upon them, that is to say, the virtual restoration of the Pet Bank System, should be stricken out altogether.6

The majority of the Committee is yet averse to the Uniform Currency and Banking Bill;7 but I still hope to get a majority in its favor; but it is precisely on this point that all efforts should be concentrated. If this Bill can be passed into Law, it is comparatively unimportant what other measures prevail. So it is if the Bill does not become a law. With it, success is possible and probable. Without it failure is probable if not certain


Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Cite this page

Cited page

Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited page

Bookmark this page
The Salmon P. Chase Papers - Vol. 3
Table of contents

Table of contents



Text size Smaller Larger
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen
/ 452

matching results for page

Cited passage

Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?