which demanded a victim
to atone for a catastrophe. The instances in which this disposition
of the public mind works cruel injury are innumerable, and only
time, and not always time, seems able to render justice. Too often
the object of popular vengeance is hurried to his fate, and placed
beyond the pale of that reparation which returning reason is eager
to extend. Fortunately the chief penalty of General Stone was the
anguish of mind, the wounding of a proud spirit. His case will
stand as a warning against future violations of the liberty which
is the birthright of every American, and against the danger of
appeasing popular clamor by the sacrifice of an innocent man.
Throughout the ordeal, General Stone's bearing was soldierly. He
faced accusation with equanimity and endured suffering with fortitude.
He felt confident of ultimate justice, for he knew that it is not
the manner of his countrymen "to deliver any man to die before that
he which is accused have the accusers face to face, and have license
to answer for himself concerning the crime laid against him."

CHAPTER XVIII.

The National Finances.--Debt when the Civil War began.--Deadly Blow
to Public Credit.--Treasury Notes due in 1861.--$10,000,000 required.
--An Empty Treasury.--Recommendation by Secretary Dix.--Secretary
Thomas recommends a Pledge of the Public Lands.--Strange Suggestions.
--Heavy Burdens upon the Treasury.--Embarrassment of Legislators.
--First Receipts in the Treasury in 1861.--Chief Dependence had
always been on Customs.--Morrill Tariff goes into Effect.--It meets
Financial Exigencies.--Mr. Vallandigham puts our Revenue at
$50,000,000, our Expenditures at $500,000,000.--Annual Deficiency
under Mr. Buchanan.--Extra Session in July, 1861.--Secretary Chase
recommends $80,000,000 by Taxation, and $240,000,000 by Loans.--
Loan Bill of July 17, 1861.--Its Provisions.--Demand Notes.--Seven-
thirties.--Secretary Chase's Report, December, 1861.--Situation
Serious.--Sales of Public Lands.--Suspension of Specie Payment.--
The Loss of our Coin.--Its Steady Export to Europe.

When the civil war began, the Government of the United States owed
a less sum than it owed under the administration of Washington
after the funding of the debt of the Revolution. The population
in 1861 was nine times as large, the wealth thirty times as great
as in 1791. The burden therefore was absolutely inconsiderable
when contrasted with our ability to pay. But there