February 12, 1861; The New York Herald
WASHINGTON, Feb. 11, 1861.
The most positive assurances are received here by Secretary Dix and others that Northern capitalists decline taking any portion of the twenty five million loan in the present distracted condition of the country. They complain that the administration daily permits extravagant violations of the most sacred laws of the country, and manifests no disposition whatever to bring the offenders to justice. If a financial crisis to follow such gross negligence on the part of our rulers, the money holders would rather have it precipitated now during the existence of the administration that produced it, than to throw it upon the new government, which will be sufficiently embarrassed with its own arfairs, without having to incur the responsibility of a state of things which it had no part in creating. The capitalists of New York, Boston and Philadelphia express the belief that Mr. Lincoln administration will restore the confidence of the whole people, especially the financial portion, and they quote the highest authority in the incoming adminstration for arriving at this conclusion. It is believed that if the capitalists decline much longer to take the loan, that the loyal States will offer to exchange their own bonds for them and borrow on their own credit.