Boston, January 21, 1862.
My Dear Mr. Aspinwall, —
Some of our infernally weak-backed bank men as soon as they had got back here
went to overturning all the work they had done (under Gray's inspiration) in
Washington, telegraphing in favor of the hundred millions legal tender. Many of
the House committee were in favor of it before, Chase only half fixed in its
favor, the horde of contractors, speculators, and debtors, headed by your
Satanic “Herald,” pressed for it. It is my conviction that the Senate committee
is the chief safeguard against its being passed, and they cannot stand alone.
You must back them up by private letters and public opinion! Here our bankers
are troubled by the demand notes, and, not content with having them made
practically good by their restriction, want them made a legal tender under the
delusion that this will make them better! Once abandon the sound principle, and
the pressure will soon sink the restriction.
Cannot you rally
the “Evening Post” and some other sound papers and get them to stand by their
guns? I still wish you and Mr. Minturn and Green felt like going to Washington.
It looks as if all our labor is likely to be thrown away unless some more is
put in.
Truly yours in haste,
J. M. Forbes.
SOURCE: Sarah
Forbes Hughes, Letters and Recollections of John Murray Forbes,
Volume 1, p. 286-7
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