in a recent address to his satellites, admits that he altogether underestimated the patriotism and loyalty of the men of the North, but takes fresh courage from the certainty that we shall shortly back down under our load of debt.  A little further on and he will find that he has just as much mistaken our power in that respect,—­that as his own worthless promises, based upon nothing, fall to nothing, the notes of the Union will stand as firm and as fair in the money market as her banner will on the battle-field.

Men and money are the sinews of war.  In our first trial, patriotism has furnished the men, and the presiding genius of the Treasury has clearly pointed out the means for obtaining the money. Laus Deo!

* * * * *

Note.—­For the benefit of those of our readers who do not understand currency facts and theories, we make the following explanation.  The relation of currency, or circulation medium, to the industry and business of the state, is similar to that of steam in an engine:  a certain amount is required to keep up a regular and natural movement; an excessive amount causes too rapid motion, and a deficiency the reverse.  Currency is made up of several things.  Bank deposits, circulating by checks, bank notes, and coin, are the most important and best understood.  The aggregate amount of these three items before the suspension of specie payments was above $450,000,000; and this sum is required to give a healthy movement to business affairs.  Take away any portion of it, and prices fall and labor languishes, because the motion from it is too small for the work required; add considerably to it, and prices rise, because the motive power, being superabundant, is too freely used.  When specie payment was suspended this motive power was reduced; the circulating medium fell from four hundred and fifty to three hundred and fifty millions, perhaps less; and unless this loss is replaced it is quite clear that prices must fall and the employment of labor be curtailed.  The issue of treasury notes will fill the gap, making the business motive power of the same strength and ability as before.  Thus it will be seen that the emission of treasury notes plays an important part upon the industry and business of the state, which, under existing circumstances, can hardly be over-valued, as well as in the national finances.

* * * * *

The Darwin-development theory has of late attracted no little attention.  One of our contributors favors us with his views in the following ‘wild-verse,’ which is itself rather of the transition order:—­

MODERN ANSWERS TO ANCIENT RIDDLES.

’Whar did ye come from?  Who d’ye belong to!’—­Ethiops.

    Philosophers say, deny it who may,
    That the man who stands upright so bravely to-day,
    Once crawled as a reptile with nose to the sod,
    His grandfather Monad a bit of a clod.