The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1864-07-20
WEDSEs ,aY MORNING
secretary Of the Treasury.

Of Mr.. Memminger, and the appointment
Of Mr.. George A. Trenholm, of South
Carolina, as his successor The papers
also published the letter of resignation
Of Mr.. Memminger and the Presidents
reply thereto, from which it appears
that Mr.. NJ. rendered his resignation on
the 10th June, rendering at the same
time his services in the office until his
successor could be appointed. The
Presidents reply, accepting the resigna-
ton and the services Of the resigning
Secretary until his successor could be
appointed, is quite complimentary to
Mr.. Memmnger, and will be universally
approved in what it says about his de
vo,ion to the public interest and welfare.
Mr.. Memminger, We are sure none can
doubt, has applied himself with unfag
ging energy to the duties Of his office
Though learned and able member of the
bar, he was deficient in practical know
ledge applicable to the branch of public
affairs entrusted to him, and blundered
not little. He was distinguished for the
pertinacity of his defence of the interests
OF the Government, as he understood
them. Indeei, he carried his zeal to the
extreme of regarding only one side of
questions between the Government and
Others, and that side was the Govern.
menfs. He stood forth more as the
counsel or advocate than the minister
OF Government, and made no conces-
sions to the rights of other par .ics.-
Hundreds Of cases, arising out of call
loans, and funding money, and interest.
etc, illustrated his inveterate habit i
This popularity of the Secretary to
gether with forbiiding, and often ride,
manner to persons in official intercourse,
were quite enough to make him very un-
popular, Independent Of his misfortune
of being the financial agent of Govern
ment obliged to issue large amount of
paper money to be inevitably deprecia-
ted. Every Minister of Finance of
Government incurring large debt by |
promsory notes to carry on
war, becomes unpopular, and is made the |
of public embarrassments SO
the late Secretary would probably have
been unpopular enough even without his
contracted view Of his relation TO the
and people, and his harsh
and hard demeanor and judgment, and
his granitive presence.
While it is no discredit to Mr.. Mem
minger. that he differed with Congress
about financial policy, and while he need
take no regret to himself from that &C
count, he has certainly, in not a few in
stances, exhibited a want of financial
skill and forecaste quite unfortunate for
one occupying.so important a position.
Nevertheless, Mr.. Memminger is a man
Of strict integrity and spotless private
while no man is mere devoted
10 the South and the State of which he is
a citizen than he. |
His successor, Mr.. Trenholm, from the
same State and city, is member of the
urn OF Frazer, Trenholm Il Co., one OF
The largest, probably the very largest |
and most successful CONNER
,ial houses in the Southern Confederacy. |
He comes before us with a high charac-
,er for talent and sagacity, and the great
success with which the affairs of his
house have been conducted seems to war /
ant the favorable impressions of the y
public. 1t has been objected, that he is
10 politician and has never been con-
lected with any party. So far from this
act being an objection, We are disposed
o regard it as very high recommends
lon' as Tor the routine of the office,
nan of his quick perceptions can master
IN day, and that, we take it, is all
hat the most inveterate politician could
10. lie comes in welded TO no special
heory and pledged to no particular party;
or that We suppose, is what is meant
y his being no party man. A Secretary
If the Treasury ought to belong to no
'arty: for if he do, he will inevitably a
embrace the policy of that party, be it
light or wrong, ruinous or beneficial, and i,
'ress it to the overthrow of the public t
if it lead to that issue. Mr..
Frenholm's education has been precisely
uch as to qualify him for this office
t has been that Of great merchaat,
lot of mere shopkeeper, which every
o-called Yankee merchant is, and which
much too large portion Of our own mer-
hants are. He belongs to that class of
tightly educated men whose extensive
and enlightened views have
'een directed to the study of trade, in {
is widest and most liberal acceptation-
o that class from whom the statesmen
# Great Britain derive all the know :
edge Of finance they ever possess,
hrOuph fha channel oS | Z