The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-07-02


Owing the radical changes in gold yesterday, there
was considerable excitement in commercial circles
Neither sellers BUYERS would tell the prices goods
former could tell what ask, and the latter did
not know what TO give The merchants were without
chsr compass, and everything was nominal Cotton
higher. but nominal Petroleum excited, 70 BE-
higher aud nominal. On Change the market was
excited by disorders OF the day, and bread
sus advanced largely though closing dun and d some
reduction prices from the highest points touched The
speculation pork bed In check by the g Illness Of
the money market, and prices were without decided
change. Lard and tallov higher. Whiskey was
tres off, under apprehension that stocks hand
TO be taxed. Freghts closed with little more tone.
Groceries hrmer, though there general
tvi;y.
The Political ImbroGiio at Washing
ton-A Crisis in the Affairs or the Coun-
try.
Senator Fessenden, of Maine lately chair
man Of the Senate Finance Committee,
has been appointed to the place in the
Cabinet made vacant by the resignation of
Mr.. Chase. Mr. Fessenden is not man after
Mr. Lincoln's heart. He afiiates with that
portion of the republican party that has
been arrayed against the President in the
recent Cabinet troubles. He is an extremist,
and bis views on finance are essentially the same
as those of Mr.. Chase. Mr.. Lincoln has taken
his new Secretary on compulson and has thus
been beaten at the very first step in the strug-
gle that he seemed to brave in going to ex-
tremities with Mr.. Chase. He has learned too
late the real strength that could be concen-
trated against him in the Senate. He had too
little faith in that opposition; but now, alarmed
at the development of its power, he has been
driven into the most complete approval and
endorsement Of Mr.. Chase against himself; he
has accepted Mr.. Chase's double.
Of course the trouble does not end here
Mr.. Lincoln doubtless accepted Mr.. Chase's
resignation under the immediate pressure Of
more than usually rough Cabinet quarrel; but,
having accepted it, he thereby FASTENED the in
evitable issue of a difficulty hitherto success
fully smothered, covered up and kept dormant
in the republican party. This difficulty is the
powerful and determined opposition Of the Sem
ate to Mr.. Lincoln. So long q Mr.. Chase was
in the Cabinet this opposition nursed its wrath
and kept quiet. He controlled it. But upon
his removal the pent up bitterness began to
discharge its fury. Other causes, therefore,
besides the knowledge Of Tod's incompetency
were at the bottom Of the objections to that
gentleman. Mr.. Lincoln, moreover, knew
Tods incompetency as we'll a. any one. But
Tod Is a nonentity, and he wanted nonentity
in the place. More than this, Tod was from
Ohio. By this prefer of q man from Mr.. Chase's
State be hoped to simply supply that gentle
mans place and to keep otherwise the Cabinet
status or balance. And the Senate opposed
Tod, not because he was unfit for the
place, but simply to declare its views
that the Cabinet is unit, and
that the change Of one member destroys the
identity Of the body and that the whole must
be made one. 1t made this the basis of its op
position, and the array Of the forces opposed to
him on this point frightened Mr.. Lincoln into
tie temporary relinqushment Of the struggle,
and induced him to seek tie first shelter be could
find and to escape on any terms. But he has
not escaped. He has only shown.to the Senate
how much it may require and how ample its
power is. The Senate will not be satisfied with
one victory. Mr.. Lincoln, in this difficulty
with Mr. Chase, commenced war that will not
cease until be has reorganized bis adminisra-
ton through and through and entirely changed
the personnel Of his Cabinet. 1t is therefore
quarrel tha. will inure to the public good; it
is storm that will clear the air; but it will be
fierce
But in THIS contest the President will always
have victory within bis reach. If he shall ever
have the courage TO trample mere party ambi-
tions and interests under his ieet-if he shall
rise out OF the atmosphere of the little strug-
giles for place and power and venture his case
on good, able and practical men-his triumph
is certain. So long as be makes the quarrel
one with and over little men, the Senate
may oppose him to the utmost and the country
will not care. On o reformation Of the Cabi-
net made with party names, the Senate may
fight him forever but he can triumph by the
easy plan Of throwing faction to the dogs, and
making Cabinet that the Senate would not
dare to reject Let him name q Cabinet OF
practical men OF unquestioned honor, patriot
ism and ability, and he will compel the &C
quiescence of the Senate Suppose him to
arrange his Cabinet thus For Secretary Of
State, Mr. Charles Francis Adams; for Secre-
tory Of the Treasury, General John A. Dix; for
Secretary Of War, General George B. McClel-
Ian; for Secretary of The Navy, Admiral Du-
pont and for Postmaster General, anybody
but Blair-any practical, sensible man, familiar
with the intricacies Of tie multiplication table
and no Senate ever yet convened in the United
States would dare to oppose it.
Mr. Lincoln is on trial for reelection, and
the way in which he shall manage matters now
will 20 far 20 determine how many votes he is
70 get next November lie is suddenly forced
by Cabinet quarrel into position that the
country did not expect to see him in unless he
should De reelected this year. he has to re-