The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1864-07-01
MN. CHAsE.s REsIeNArION.

Froa ne Tfses
We have no reliable information as to The
causes Of Mr.. Chase's resignation of the Trea-
sury Department, though the fact itself seems
20 be sufficiently authenticated. We do not
ascribe IL to any anticipation of difficulty In carry
ing the financial department Of the Government
through the crisis which circumstances seem to
have created for IL, because Mr.. Chase is not the
man to shrink from any duty or responsibility In
which the honor and welfare of the nation are
involved.
The more threatening the aspect Of affairs in
his department, the more likely would he have
been, other things being equal, 10 stand by the
helm and do everything In his power TO avert
impending dangers He has become involved, It
Is true, in a very embarrassing controversy with
the State banks throughout the country, and has
committed himself, perhaps too unreservedly, to
certain theories OF finance In connection with the
war, and he may have thought that some other
person could more gracefully introduce changes
of policy, which experience has shown to be in
dispensable, than he could himself. But this is
a very different thing and has q very diferen,
motive, from abandoning the Ship of State
because II seems TO be threatened with danger
We are inclined 20 attribute his resignation 10
another cause. 1tisVery well known that through
the jealous and not always judicious efforts Of
his friends, Mr.. Chase had become deeply in-
volved in the canvass for the Presidential nomi-
nation. Naturally enough, the great body of
those who held Office under his immediate ap-
p0intment and oversight were vehement advo-
Gates Of bis selection, and quite often lost sight of
the propHeteS OF their position In their endeavOrs
to promote his success.
Mr.. Lincoln, il Is notorious, made no attempt
whatever to arrest this unusual and not very
edifying denomination, and his own nomination
was made by spontaneous popular movement,
in opposition to the most strenuous efforts of the
great body Of persons holding office under the
Treasury Department.
Now that the nomination has been made, It Is
not at all unlikely that the President may deem
IL a matter OF public duty to arrest the hostility
on the part Of subordinate office holders, which
threatens to involve all the dangers and mischefs
OF an intestine faction. He may have thought it
wise TO change some Of the office-holders whose
services have seemed less tributary 10 the pub
lie good and Mr.. Chase may have felt himself
so far involved in their past action, at least so
Tar responsible for the course they have pursued
as TO have felt bound to retire in case they were
20 be disturbed. II our cOnjectures are true, his
resignation is purely political in It's motives and
has no bearing whatever on the financial affairs
Governor Tod, OF Ohio, who is said to have been
nominated as his successor, is one of the ablest,
staunchest, and most influential supporters Of
the Union cause in the Western States. He was
Democrat originally, but gave his prompt, un-
hesitating, and most effective support to the Gov
eernment the instant IL was assaied.
AS Governor OF Ohio during the early stages of
the great contest, he contributed largely TO the
uvigor and success of the war, nor has he ever
dwithheld any effort, either Of act of voice, or
-of pen, to strengthen the arms or secure
the triumph of the Union. He was before
the war a Douglas Democrat, and did every
thing in his power, as member of the
Charleston Convention, to secure the nomna-
tion and subsequently the election of Mr.. Douglas
to the Presidency. But when his efforts failed,
and the slaveholding conspirators attempted to
overthrow the decision of the peoDle by force
Governor Tod promptly followed the lead of
Douglas and threw himself heart and soul into
the vindication of the true democratic principle
that underlies this Government-the right Of the
majority to rule.
He is a man of very large business interests,
of great wealth-which he has accumulated
wholly by his own exertions-and of broad and
comprehensive views of public affairs. He was a
member Of the Baltimore Convention, and was
active and earnest in his efforts to promote the
nomination of Lincoln and johnson.
p. S.-A late telegram indicates that Mr.. Tod
has declinedthe nomination for Secretary of the
Treasury.