The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1864-07-02
RETIREMENT OF SECRETARY CHASE


while the question Of Mr.. CHAsE's resig-
nation was In doubt we refralned from any
comment on II. But now that the fact is
certainly ascertained, we ieem It emlnently
due to an honest man and faithful officer Of
the Government to accord, in warm, but no
f',lsome language, the need Of praise to which
he Is clearly and richly entitled.
When the news that Mr.. CHASE had re-
signed his portfolio reached the public, sim
Cere, indeed painful, sense Of regret flashed
instantly through the heart Of the whole peo.
pie like an electric shock. Then, more than
ever before, the greatness Of Mr.. CHAsE's
financial abilities, the purity of his private
and official character and the inestimable
services he has rendered the country since he
took charge Of the Treasury Department, sud-
denly rose TO their fair measure of apprecia-
tion; and even many of those who are politi-
cally opposed to him cannot repress con-
sciousness of the serious bereavement the
nation has suffered in losing, at this particu-
lar crisis, the benefit of his rare talents and
experience.
With the motives which Influenced him in
retiring from bis arduous post the world has
little concern, beyond the simple fact that he
was not actuated in the step by any apprehen-
sion Of immediate or remote disaster to the
national finances, or the slightest abatement
of confidence in their present soundness and
future prosperity. And we are glad to be
able to say that the late Secretary Of the
Treasury, i'll reslgning his office, leaves the
fiscal affairs of the Government free from en-
barrassment, save that which is naturally and
uniformly incident to the necessity Of raising,
In time of war, vast sums of money to meet
proportionate expenditures. By his judicious
measures he has placed the Federal Treasury
In the receipt of an enormous revenue, equal
almost to the current demands upon it,
large as they are; and he has managed
to meet punctually at maturity every
obligation Of the Government to its creditors,
while providing ali the money which has sus-
tanned, without intermission, for three years
and more, the formidable operations OF our
gigantic army and navy. There is not an in
stance in all financial history which equals
the success Of Mr.. CHASE In his management
of the national finances during the long and
difficult period that he has had charge of them.
raised the public credit to 30 high point
that he was enabled to borrow from our own
people, at low rate of interest, the bulk of
the funds which have betrayed the expenses
of the most formidable and costly civil
conflict for the time 1t has lasted that the
world ever saw. Nor could success of this
kind, under like circumstances, have been
commanded, save by the implicit and abiding
faith which the people everywhere had in the
exalted statesmanship and sterling integrity
of Mr.. LINCoLN's minister of finance. Vast
as was the power he welded by virtue of his
position, the Secretary of the Treasury used
It only for the good OF the country; and one
of the proudest facts in his history will be,
that in the discharge of his high and respon-
sible trust he allowed no aspiration of per-
sonal ambition TO interfere with his official
zeal and probity.
Leaving the Treasury after arduous and
protracted labors SO honorably performed,
Mr.. CHASE can go into retirement with the
great reward of an approving conscience,
which is even dearer to high-toned and
Christian gentleman than any other guer-
don he could possess. Like all men in high
civil station, he has been the target for much
ungenerous criticism and abuse; butwhile time
will no doubt vindicate in the main the wis
dem of his financial policy, the most patient
and searching investigation will ultimately
prove that while his ability was fully equal to
the high demands of his office, bis virtue was
equally above its temptations.
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