The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-01-16

Cotton-Mr. Secretary Chase aad His
Treasury Regulations.
In connection with the cotton question, our
attention has been called to the new Treasury
regulations recently promulgated by Mr.. Secre-
tary Chase for the guidance of merchants, citi
zeHs and Others concerned in trade in the re-
bellious States within the lines occupied by
the military forces of the Union.
First, we have two grand agencies. Number
one, however, will answer our present pur-
pose. 1t is divided into thirteen districts, ex-
tending from Wheeling to Natches, with
special agent in each, to be appointed by and
to act under instructions from the Secretary of
the Treasury; and each Of these agents, with.
out limitation, is authorized to appoint his as
sistants. Then follow the rules and regula-
tions, including the classification and prices of
permits for trade In the insurrectionary States
and disafeoted or suspected districts in all the
Southwest, from West Virginia and Kentucky
to Louisiana. These regulations are so COM
piicated and so incomprehensible that ii would
be folly to attempt to unravel them. 1t will
suffice for the object in view that, in these
rules and regulations, Mr.. Chase still adheres
to his foolish and corruptiag system Of per-
mits, favoritisms and endorsements in the
cotton trade.
The Cincinnati Gdzette-a leading organ of
the republican party-says that "in view of the
amount Of corruption which has grown up
under the permit system, and the abuses prac-
tised by persons charged with the execution Of
the rules adopted by the Secretary Of the Trea-
sury, it is frightful to contemplate the great
army of officers provided for;;" and that there
can be no doubt that there will be s'under
these new regulations, a. under the old, the
same sickening mass Of corruption which has
penetrated every nook and corner of the insur-
rectionary DISTRICTS" and that General Grant
will have no reason to change the opinion
formerly expressed that there can be no honest
trade carried on in military districts under any
permit system" General Grant is competent
to Judge, and he is an honest man.
The Gazette goes on to say that "the great
source Of corruption, as we have shown in
former articles, is cotton. We have contended
that the bringing in Of this staple should be
encouraged rather than discouraged, and there
fore there should be no restrictions upon pur-
chases, except such as the Commanding General
Of the department, in strictly military point
Of view, might deem necessary; and if be
should find it best to deny free trade in the
staple then no one should be allowed to 60
through the lines to purchase. There should,
in word, be absolute free trade or absolute
prohibition. There is no middle ground that
will not foster corruption-that will not lead
to the bribery Of all corruptible officers, mill
tary and civil. If, then, there can be free trade
in cotton, without damage to the military in
terests, let there be free trade. It will not
help the rebels to exchange greenbacks for cot
ton. Every bale OF cotton brought out is
equal to three hundred dollars in gold. Heavy
receipts Of cotton, therefore, would help the
national finances, lessen the expenses of the
government and the people, by depreclating
the prices Of goods, and furnish something to
ship to Europe instead Of coin. Anything,
certainly, is better than system which grants
to men who bid highest rowing commissions to
plumber"
These are sensible views, and, coming as
they do from prominent administration or.
gan, they ought to command the attention of
President Lincoln; for we presume that he has
left this business entirely 1t the discretion Of
Mr.. Chase, and that Mr.. Chase has his own
Presidential axes to grind. But what does this
game Of his Of creating 20 great army" Of off,
cial dependents and favorites in his manage
ment Of this cotton trade cost the country?
Millions upon millions Of dollars that might be
saved. Honest men are defrauded, treacherous
are enriched by tens Of thousands Of
dollars in single operation, dishonest officials
are bribed by rogues, and in every possible
way cotton owners and shippers, the govern
ment and the taxpayers of the North are
cheated through the working of these cotton
regulations Of the Secretary Of the Treasury.
How much Of the cotton captured by our
armies and sent forward to market has run
through the gauntlet Of these Treasury agents
as the property Of ths United States! We
have no means Of judging; but, when an intel
ligent Western editor Of the party church Of
Mr.. Chase denounces this business as "a sicken-
ing mass Of corruption" we have reason to fear
that the government is Heeced from New Or
leans to New York.
This matter demands the Intervention of
Congress and the passage Of law providing
for free trade in cotton, payable in greenbacks,
subject only to the simplest regulations Of
trade, and government tax of SO much per
bale. With the opening of the spring cam.
paign our advancing Western armies will.
doubtless open the way to large stores OF cot
ton, and Congress should provide for bringing
it to market as cheaply and rapidly as possible
Why hesitate to invite sales even from rebelss
Our greenbacks, in rebel hands, will operate to
bring on the final collapse Of the paper money
system of Davis as surely as the cotton will
strengthen our Treasury. Let the House OF Rep