Mr. Pike to Mr. Seward
Sir: I have to acknowledge the receipt of your despatches of the 26th of June, and the 3d and 15th of July, Nos. 244, 245, and 246, and also your circular despatch of July 8, in relation to the execution of the conspirators against the lives of the late and of the present President, members of the cabinet, and others.
Very copious criticisms on our affairs continue to be indulged in by European writers. The great herd of hostile commentators on our concerns, though confounded by results, cannot be abashed into silence. But they have written nobody down but themselves.
Mr. John Bright, and some others of our friends, are the only public men of note who have not lost reputation as statesmen in consequence of their vaticinations concerning our war.
The prices of our stocks here are rather retrograding. The imaginative views lately put forth by Dr. Elder, under the auspices of Mr. Jay Cooke, aiming to show that a great national debt promotes rather than hinders national prosperity, has provoked criticisms which, perhaps, have something to do with this result. Europeans have had too much practical acquaintance with war debts and taxation to have patience with such views. Of course, such speculations could have no influence if they had not a sort of semi-official sanction.
I have the honor to be, with great respect, your most obedient servant,
Hon. William H. Seward, Secretar of State, Washington.