|1.||Bigelow, an author and editor, served at this time as U.S. consul general in Paris. A Version of this letter printed in Robert B. Warden's biography of Chase appears at micro 39:0916. DAB, 2:258-59; Warden, Chase, 501-4.|
|2.||André Cochut (b. 1812), a French writer on political economy, had published an article on U.S. finances. Focusing on the financial situation brought about by the Civil War, Cochut emphasized the strength and stability of the country's economy, its vast resources, and the soundness of its financial policies. Bigelow, who had furnished Cochut with information for the article, informed Chase that Cochut could "turn to good account" any information Chase might provide "when you shall have occasion to reach the European public on financial questions." Cochut, "Les Finances des États-Unis," Revue des Deux Mondes 41 ( Sept. 1862): 189-213; Bigelow to Chase, Sept. 2, 1869 ( Chase Papers, Hist. Soc. of Pa.); Nouvelle Biographie Générale depuis les Temps les Plus Reculés jusqu'a Nos Jours . . . , 46 vols. ( Paris, 1853-66), 11:10.|
|3.||Bigelow conveyed Chase's appreciation to Cochut, who expected to write more on the same subject for the Revue des Deux Mondes and other French publications. Bigelow advised Chase to send copies of any U.S. Treasury documents promptly after they were printed so that he could get them to European journalists before the information could be "mangled" by the British press. Bigelow to Chase, Dec. 5, 1862, Cochut to Bigelow, Dec. 1, 1862 ( Chase Papers, Hist. Soc. of Pa.).|
|4.||The figure stood at $629,862,550.53 on October 3, according to the "Statement of Public Debt" that Chase appended.|
|5.||Chase had made the proposal in his annual report, December 9, 1861. In 1838, New York had enacted the nation's first "free-banking" law, which replaced a system based on charters and allowed anyone with adequate capital and a willingness to abide by state regulations to enter the business. Ohio had passed similar legislation in 1845. Bray Hammond , Banks and Politics in America: From the Revolution to the Civil War ( Princeton, 1957), 580-84; Report of the Secretary . . . for the Year Ending June 30, 1861, 17-19; Francis P. Weisenburger , The Passing of the Frontier 1825-1850, vol. 3 of Carl Wittke, ed. The History of the State of Ohio ( Columbus, 1941), 422-24.|
Letterpress copy of letter in clerk's hand, signed by Chase. Chase Papers, Historical Society of Pennsylvania.
Washington, Octo. 11, 1862.1
My dear General.
I was glad to receive, to-day, your letter of the 1st. inst.2 I have long been of opinion that a much more comprehensive policy, both in military and civil administration, was necessary to the speedy and thorough reëstablishment of the Constitutional authority of the Federal Government throughout the country. Your view of the necessity of a civil government, under the auspices of the United States, has long been mine; and I have endeavored to impress it upon the Administration and upon