Cincinnati daily press. [volume] (Cincinnati [Ohio]) 1860-1862, 1861-12-13
The Right Man I'm the Right Place.

The report of the Secretary of the United
States Treasury has now been before the
country for several days, sufficiently long for
the press to comment upon, and for the peo-
pie to Judge of it. The almost unanimous
verdict is, that the report is a strong, clear
and candid document, and must go far in
preserving that confidence already reposed
by the people in the stability of this Gov
ernment, and its ability, financial and other
wise, to sustain itself against all its foes, both
foreign and domestic. Whatever differences
of opinion may be entertained in regard to
other branches of the Government, in the
management of the war, there appears to be
none in respect to the department of the
finances. 1t is admitted on all hands that
the right man is in the right place. The an
nails of finance may be searched in vain for
such triumphs as Secretary Chase has
achieved since assuming the duties assigned
him by the President in March last.
When be entered the Department of the
Treasury, he found the credit of the Govern
ment at the very lowest ebb, by the bung-
ling of Cobb, his predecessor, if not by his
premeditated treachery-for it will be re-
membered by those of our readers who are
familiar with such matters, that a short Pc
riod before the close of his administration of
it, Cobb appeared in Wall street to negoti-
ate a loan, and by his conduct on the occa.
sion, and sly inuendoes, the credit of the
Government was 30 damaged that it was
effected only after an enormous shave had
been submitted to by the Secretary. So
soon, however, as Mr.. Chase got possession
of the seals of Office, he set himself to work
to remodel the whole system of finance
in his department, and by the time the new
Congress was in session, all his plans were
arranged to the hands of that body, and the
wisdom and skill displayed therein enabled
the two Houses to complete the labors Of the
session for which they were called together,
in a remarkably short space of time; and
such was the confidence displayed in his skill
and management that hundred millions of
dollars more we're placed at his disposal than
| he had asked fora mark of confidence sell
| dom displayed toward any one in any nation
| placed in his position. Without any pub
| lished notice for bid for his loans, Mr..
| Chase arrived in Wall-street, and after a
short consultation with the leading bankers
| of New York, succeeded in realizing aaloau
| of $50, 100000, which was placed at his dis
| posal at once, with contingent loan for
| $lOO 000, 900 MORE to be received in October
and December, the first half of which was
promptly placed to his credit in October, and
| the second arranged for when required by
the Government, which will be sufficient to
meet all demands upon the Treasury, as he
himself announces, to the lst of February.
The history of, this, and we believe it is
admitted, of any nation, can produce. no
parallel to such feat; and more particu-
iarly when the circumstances of the nation
are considered, and that his first loan was
negotiated under the malign infdences Of
the battle of Bull Run. There can be nc
doubt that this great success in our financial
! department has tended more than any thing
else to give that confidence now entertained
as to the ultimate and full success of oul
arms for the preservation of the Union, as il
all nations and ages, the 'sinews of war,
money, is considered the main reliance fol
the successful prosecution ofa war. Power
full as Russia was known to be- in the vast
ness of the number of men she could cal
forth to the war in the Crimea, yet she wa
lacking in the sinews by which that immens
mass of living flesh could be moved-heEce
although the war was conducted in distan
border of the Empire, and her MAINLAND
could not be invaded by the Allies, yet sh
was obliged to succumb for the want @
means to continue the contest, her resource
being exhausted at home, aud her commerc
cut off from abroad, by the navies of Eng
land and France, and such is TO be the resul
in the South, from the same causes.
1t is gratifying to find that, whatever dif
ferences of opinion may be entertained as t,
other measures and-men, now passingin re
view upon the public stage, all admit tha
the President has been pre.eminently sue
cessful in securing for the Fiscal Department
of his administration-the great lever 70
moving all others-the right man for the righ
place. t p tB19T .-llnAa