The New York herald., 1863-11-09
The Administration and the suSeession& -
MI. Liucaln n nd Mr. Chi ase.

The eAdminfstration and the SUGGESTIONS -
hr. Lincoln and MT. Chase.
The State elections sof the present year being
oil out of the, way, the field u open for the
Presidential campaign. The politicians, admins
tration aud snti-administration, who have been
mining and countsrmiuing all the time, are now,
In full view Of the spols and plunder Of the sue
cesson, as BUSY as beavers. Those unfortunate
fellows who have been politically killed Off
such as Horstio Seymour, of New York; Thomas
IL. Seymour, Of Connecticut; Vallandigham, Of
Ohio, and other leaders and followers Of the
copperhead faction, East end West--are. per-
haps, among the busiest. They have the diff
cult work before them Of new tack, in con-
nection with reconstruction Of the democratic
party, pufged Of Its copperhead affiliations The
republican party, merged in the Union organi-
zations Of the day, is all adrift. There is
nothing fixed on either side, except what the
Rev. Henry Ward Beeoher would call 'the
great central facts"-that President Lincoln is
prepared to serve another term, and that Mr..
Secretary Chase expects to sapersede him.
President Lincoln undoubtedly has the
power TO spoil the calculations Of Mr.. Chase
and his radical supporters; and yet there is
great danger that the intriguing and indefati.
gable head OF the Treasury will carry of the
prize. lie has two powerful elements at his
command-the fanatical element Of the admins
tration party and the financial element of the
| whole country. With the fanatical element,
unless seasonably headed of, he may control
the nominating party convention, and with
the financial element he may carry the election.
The precedent of Martin Van Buren's success
will serve to illustrate the present commanding
advantages of Mr. Chase on the money question.
Van Buren, in his best days, was never in himself
popular man. He derived all his popularity
from General Jackson, and all his strength as
Presidential candidate from Jackson's admins
tration With the overthrow of the United
States Bank, and the substitution of his famous
State or 'pet bank" system, General Jackson
encouraged his recipients Of the government
specie deposits to such an expansion of their
circulation that the country was flooded with
paper money The immediate consequence
was that for two or three years we enjoyed all
the blessings Of paper money millennium. All
our industrial interests dourished like the vege-
that dazzling vision of the party demagogue-
everything for everybody and everybody rich.
In the midst of this glorious financial jubilee
the Presidential election Of lS3G came on, and
Martin Van Buren, in the mantle of Old Hick-
ory was elected without serious opposition.
The country was floating gayly on the high tide
Of prosperity, and the people were satisfied.
bo, hat; frat
OF Van Buren's administration there came a
terrible financial revulsiop, which carried
banks and iinanciers, merchants and manufao.
turers, government and people, into an abyss Of
| universal bankruptcy and financial confusion,
and that in the last year Of that administration
it was swept away by tornado of popular
wrath against it, and in . universal carnival of
popular enthusiasm for
Tippecanoe and Tyler too
political carnival Of grotesque devices unsx-
ampled in the history Of popular elections in
this Or any other nation Of modern or ancient
times. There was never anything like it be-
fore, aud probably never will be again to the
end of the world
The position Of Mr. Secretary Chase at this
time may be aptly compared to that Of Martin
Van Buren towards the close of General Jack
sons official career. We are now, as we were
then. in the midst of financial millennium.
Money is abundant; labor Of all kinds is in
great demand; all our industrial interests are
prosperous, and everybody is getting rich. The
father Of our universal "grecnbacks" is hailed
as a public benefactor; and give him the card
of the administration candidate for the success
sion, and all the business and financial interests
Of the country, to secure their ''greenbacks,'
will combine to secure the success Of Mr.. Chase,
aud he will he elected more easily than was
Martin Van Buren, That q tremendous financial
revulsion will he the next thing in order is al
| most certain if We may Judge from the infali-
bio lessons OF experience. But we are dealing
now with the question Of the Presidential sue
csssion. The great danger is that Mr.. Secretary
Chase will step into the shoes of President
| Lincoln, and that thus, leaving out Of view the
| queston OF monetary CONFUSION, we shall
have the dark and perilous road to travel OF a
| thorough going abolition reconstruction Of the
Union
| Against Mr.. Secretary Chase therefore, our
administration candidate is President Lincoln
I His public declarations from time to
| time, and his official acts, show conclusive
| ly that the Union with him 10 the para
| mount idea. and that Southcra slavery
| is secondary issue. Mr.. Seward and Mr.
| Montgomery Blair Also in his behalf, have
confirmed this view OF the Presidents position
We have no doubt that, with his reelection
assuming that the rebellion meantime will be
| substantially crushed the rebellous States will
! be restored to the protection Of the Union as
fast as possible, even although some Of them
may thus be restored With remnant of their
institution of slavery, or substantially az they
were in the old Union. Assuming, next. that
| President Lincoln anticipates and desires re-
| election, and mainly for the purpose of carry
| ing out his we'll considered policy of recon
struction, we hold that it is his duty to remove
all The stumbling blocks of his Cabinet out of
the way, beginning with secretary Chase. Any
man of recognized honesty, even of moderate