The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1864-07-08
Letter from the Federal CAPITAL.
WASHINGTON. July A. 1864

10 the Editor of The Press:
The sudden aud unexpected withdrawal
from the Cabinet OF so eminent minister as
Secretary Chase, produced, it is hardly neces-
sary to say, great sensation in all the circles
of the Capital. The surprise occasioned by
the announcement was followed here, as it
doubtless was throughout the country, by q
feeling of profound regret. In the diacharge
of his momentous responsibilities, he has not
only justified the highest hoses of his friends,
commanded the respect of his most bitter
political enemies, and secured the largest con-
fdence of his country, but he has extorted re-
lunctant admiration and praise from the rebels
themselves.
or his successor, Hon. WILLIAM PIrT FEs-
SENDER, there is no need to speak particular
ly. HE nomination, confirmed by the Senate
in an executive session Of ten minutes length,
was hailed with the greatest and most unani-
nous satisfaction. His great abilities, his
severe integrity, and the confidence reposed
in him by the people Of the whole country,
point him out as man eminently suitable to
MA thC PiaSC. bS sur piioS vas 'SsJ
general that his nomination was made second
to any other. The great fall of gold on the
announcement Of his appointment, and the
immense pressure from both houses of Con-
gress and the great financial centres to pre-
vent his possible declinature, indicate very
plainly the public estimation in which he is
held. Mr.. Sherman, of Ohio, statesman Of
sterling parts and large experience, and an
able tnancier, will succeed to the chair Of the
Finance Committee OF the Senate.
Although the state OF our finances for some
time past has been anything but desirable, yet
we may hope some good results even from
what has seemed most untoward. The coun-
try has been awakened, as never before, to the
true nature of the financial crisis now upon
us. 1t was all in vain that prudent statesmen
urged upon Congress, during the early part OF
the present session, the duty of immediate
aud heavy taxation. Week after week, and
month AFTER month, that body delayed, hesi-
tated, and waited for something to turn up"
that might relieve it from the most ungracious
but most ungracious duty before it. The result
has sorted well with Mr.. Micawber's expert
ence-something has "turned up" as any one
may see by running his eye down the stock
list. What our present Internal Revenue law
will do to avert the financial storm we shall
see; but II the tempest comes upon us in its
fury we must meet it with firm and fearless
front. There is wealth in the land, and if it
is transferred by taxation from private pockets
TO the public treasury, the national credit will
be re-established. Ii this seems hard let us
all remember that it would be far better for US
in our individual interests, that half or three
fourths OF our income should go to the public
cDffer, provided that we can barely subsist OH
the remainder, than that the government
should founder and 90 down forever. Even
upon selfish considerations we should not
merely endure but demand taxation, for the
issue OF enormous quantities of legal tender
paper money without any adequate provision
for its redemption, must prove as utterly ru-
nous TO all private interests as did the insane
attempt of James 1st to carry ON government
in Ireland with brass guincas. This is no time
to pile up imaginary wealth or to angle for
popularity. If when we emerge from this
awful time we may still, though stripped Of
everything else, have lett us our country and
our honor we should be satisfied.
The closing days of the session have been
as such always are, full OF hustle and hurry
and excitement. More or less business of
moment is always allowed to wait until the
time for calm and careful elaboration is past.
Matters which have been long discussed and
would be debated unfortunately were the ses-
sion endless, are quietly adjusted by commit
tees on conference and passed summarily.
Appropriation bills whose sturdy backs seem
to some gentlemen just fitted to carry burdens.
are loaded down on this side and on that like
pack mules, with miscellaneous bundles. Pet
schemes and private interests elbow and jostle
each other in their eager haste to gain atten-
nominated and nominees who want to be con-
flrmed, besiege the Hobbies of the Senate.
Tnns the present session as preceding ones
have done, drew to close. The adjournment
took place at twelve, NJ.
The "4th" has been celebrated here with
much observance and demonstration. Long
before daylight the frequent report of firearms
and the popping of crackers told that the boys
were awake, while the boom OF cannon and
the clang of the city bells have given expies-
sion to the general enthusiasm upon the ma
tons birthday. A Democratic meeting,
making up in noise what it lacked in numbers,
has been held in the West Capitol Park. The
colored schools of the city turned out for
picnic, and unless John Browns soul found
opportunity TO march elsewhere TO better
purpose, it may have been the invisible mar
shall of the humble procession A review of
ten regiments of the Veteran Reserve Corps
takes place this afternoon near the White
House. Fire works are expected this even
ing. And SO though the day close without
bringing TO our ears any such news as glad
dened our hearts year ago, yet will we re-
ioice that through the wild rack of battle the
great truth which has made this day glorious
CLEANS more resplendent than ever.
TSP
Lieut.. Mattson O. Sanborn.