The Placer herald., 1864-08-13
From the New York Day Book.
THE EXPLOSION IN THE CABINET.

How or why he got out is Il question over
which the daily papers are generally puzz-
ling themselves. Our impression very deci
dedly is, that MIR. Chase is out because he
desired to get out, and because he would
stay in sinking ship no longer. Mr.. Chase
WAS, by long odds, the abest man in Mr.
Lincoln's Cabinet. No other member rises
above the level of mediocrty. Various rea-
sons have been given for his resignation, the
Frank Blair difficulty; the refusal Of Con-
gress to tax AS efficiently AS he thought
necessary; personal differences with Mr.
Lincoln growing cut OF the Fremont move
ment, &c, &c; but all these reasons are i
plausible not sufficient to cause Mr.. Chase
to take so important step, and to hazard
by that step the most important public in
terests. This act OF Mr. Chase's will he
regarded by foreign governments as Of greater
Importance than the loss Of battle by the
North. And it is Mr.. Chase, by resigning
at this juncture. substantially confesses that
the war is failure, and that our finances
must 90 by the board. In recent letter
written in an urgent and persuasive tone, he
told Congress that without "military success"
he could do nothing. lie saw aud felt the
truth of this far more keenly than any other
person, for he was in position to know the
exact condition of affairs.
There has been great clamor in the
public press against Mr. Chase's policy, which
in all conscience, has been bad enough; bu,
it must be remembered that he was the
victim of circumstances. The war was in
augurated in deception, and SO fearful were
the Administration that the people would
not sustain it, that they did not dare to
resort to taxation II the war had been
conducted upon anything like legitimate
business principles Of pay AS you 60" it
would have come to an end long since. No
one knew this better than the demaoogues
at Washington. They did not dare to make
the people feel the effects Of this war. They
dare not do il, even now, with million of
bayonets at their command. A war thus
originating in trick, must be carried on
by tricks. Hence. the financial policy had
to be n series Of cunning lodges and sub,er-
fuges. If the war had had any existence in
the hearts of the people, if they had really
and seriously Recognized it AS essential to
''liberty and the cause ST Republican govern
ment," as the Abolition and shoddy spouters
declare, they would have been perfectly
willing to have been taxed for purposes so
grand and noble But it was not 50, aud no
one knew it better than the managers of the
war. Hence their financial system has been
a continued effort to ge; the money out of
the pockets of the people without their
knowing it. If they demanded it directly,
they feared they might meet with point
blank refusal. To obtain it 10y jugglery was,
therefore, the only resource.
There are those who decry Mr.. Chase
We do not. lie has managed the financial
feats of legerdemain with great ability and
shrewdness. We do no: believe there is II
man in the country who would not have run
ashore long since. lie has shown himself
almost as good performer in his line as
Anderson the Wizard in his, or Blondin in
his. lie has transformed ordinary printing
paper and green ink into money. There
WAS time when thousands Of his dupes said
they were even better than gold! They
beg in to think differently now When gold
touched 2sO last week, even the most i'm
pIicit believers in Mr. Chase's wizard feals
began to get their eyes open. 1t was in the
very nature Of things that he should break
down. MIR. Chase WAS not deceived by his
performances any more than the necroman>
Ger. lie doubtless hoped and expected that
the war would be ended before the decep
ton was found out, hence his frantic calls for
"miiitarv success" but VIXEN he saw no
hopes of that he resigned. That is all there
is of the "Cabinet crisis" MIR. Chase is a
man of ability, and has done, under the cir
cumstances, all that man can do. but he is
too smart to remain to be buried in the
ruins Of policy which, it is said. his own
Judgment has always condemned, viz: that of
war upon the seeded States.
The remark is upon every tongue, what
will his successor do! The answer is Obvious
Worse than Mr.. Chase has. The disease is
past surgery. 1t is folly to suppose that any
human being can bring order out of the
present financial chaos. Mr. Fessenden has
been the Chairman of the Senate Finance
Committee, and as such has been the adviser
and supporter of Mr.. Chase. lie can do no
more than Mr. Chase has done. The policy
that he has established cannot be materially
altered, and until the war stops and we
return TO specie basis we may expect to
90 from bad to worse. The retirement of
Mr.. Chase must do much to convince fore gn
governments of the utter hopeIessness of the
attempt to conquer the South, and it ought
to arouse our own people from that ethargy
in which we are sunk, and demand an i'm
mediate cessation of that deadly strife which
will inevitably add to the sorrows and be-
reavements of the present, long and mel
ancholy era Of prva,ion, poverty and suf
fering.
THE OVERLAND EMIGRATIoN- letter
received in Oregon from Chimney Rock, says:
There is the largest emigration on the road
this year that ever crossed the plains. At
least 10000 wagons, by this route, North
Platte, are bound for Idaho, Nevada, Call
| f..,;o and Oraro, Tho numhar is as great