Much sensational news concerning delay of army movements. I
am inclined to think our people have learned caution from dear experience, —
dear in the best blood of the country.
Gold had gone up to-day to 230. Legislation does not keep
down the price or regulate values. In other and plainer terms, paper is
constantly depreciating and the tinkering has produced the contrary effect from
that intended by our financiers.
SOURCE: Gideon Welles, Diary of Gideon
Welles, Secretary of the Navy Under Lincoln and Johnson, Vol. 2: April 1, 1864
— December 31, 1866, p. 55
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