The Express.
London, England, 1868-07-09 00:00:00

TIIE EXPRES',

"of inconvertible paper was then re .roped
" as a te•ugarary expedient, to be adopted to a
‘• very limited extent, and to cease long before the
•• debts would come to maturity." Mr. CHASE,
during his term of office ae Finanoe Minister, Mal
especially forward in declaring the obligation of
the lTnited States to repay not only the interest of
its debts, but the debts themselves in coin. It is
impossible that he can become a party to a policy
the execution of which would involve a breach of
national good faith, and so far as ho acquiesced in
it, personal dishonour. What has been said of tho
proposed payment in a educed currency of bonds
which represent a debt due in gold, Nay be re-
peated of the scheme for taxing United States
bonds, which are, by positive law, exempt from
n 1111 l ieipal or state taxation, and by clear under-
standing from Federal obligation.
Unless we very much mistake the man, the
Di moerat ic manifesto makes Mr. CHASE'S candi-
dature us impossible as it would be for him to
'Tun a gambling table or a house for the reception
of attain goods in Washington.
The declaration, or the telegraphic summary of
its contents, is silent upon some other points on
which the Democratic party must declare itself
lalore it proceeds to the Presidential election.
What is its Southern policy? Dow dots it pro-
pose to solve the problem of reconstruction?
Will it commit itself to the principle of impartial
sufl'inge ? It is hard to see how Mr. Cliasg and
it can come together, without signal apostacy on
the one side or the other. During the thirty years
in which he has been prominently before the public
he has been identified with the movement against
slavery, in the several forms which the agitation
has assumed—first for the limitation and
gradual extinction of the evil, and, when
the final struggle came, for its complete
abolition. As an advocate, he distinguished
himself most by his pleadings in fugitive slave
cases, asserting the unconstitutional character of
the fugitive slave law of 1797, and the purely local
application of the ordinance of 1787. In
1841, '43, '43, '47, and '4B, Mr. CHASE
was the chief instrument in summoning the
anti-slavery conventions which met in those
years ; and he was the author of some of the
ablest addresses in which their principles and
policy were set forth. On these principles
he entered the Senate of the United States
as the representative of the democratic
party in Ohio, which had then committed itself to
an anti-slavery policy, warning it that if it deserted
this position he should sunder his connection
with it. When in preparation for the
election of Mr. FitemlLDr PIERCE, the democrats
of the North became parties to an alliance with
the slave-owners of the South, Mr. CHASEpublicly
severed himself from them, and was one of the
most effective leaders of the opposition to the en-
croachments of the slaveowners which during the ten
years thatpreceded Mr. Lnieour's Presidency at last
wore out the long-suffering of the North, and cut
off all appeal but the sword. During the whole of
his public life, Mr. Cmisz's political connexion has
been determined by the attitude of the several
American parties on the slavery question. In the
language of BuaxE, he has varied his means in
order to preserve the unity of his end. Apart
from the scheme of partial and covert repu-
diation to which the Democratic Convention of
New York has committed itself, Mr. Cite= could
not become its candidate, unless by its abandon-
ment of the policy of white ascendancy which
has of late formed its ground of existence.