The New York herald., 1864-07-01
Ressgnation OF Secretary Chase.

| Old Abe has commenced to yield to the uni
versal demand Of the country. The finances oi
the nation, nearly ruined by Mr.. Chase, have
been taken ont Of his hands The intelIi-
gence dashed over the wires at an early hour
yesterday morning that Secretary Chase had
thrown UP his portfolio, and that the Presi.
dent bad appointed Ex-Governor Tod, of Ohio,
az his successor. Mr.. Tod, however. declined
the appointment. The announcement OF tie
resignation of Mr. Chase took the pub.
| lie by surprise. Notwithstanding there be-,
been for some time past . universal de-
mand by the people for Mr.. Lincoln to remodel
his Cabinet and remove the rotten and worth
| less timber in it-a demand which the Balti
more Convention recognized and acted upon
| by adopting resolution giving the President
| a significant hint-ye! but few persons, If
| any, anticipated change. A commencement
| has been made at last-and better late than
| never Mr.. Lincoln long since had suffi-
cent evidence of the incapacity of Secretary
Chase to manage the finances Of the country
| IN crsis like this. He has been for three
| years committing blunders upon bunders kept
| the monetary affairs of the nation in an excited
| and unsettled condition, until the premium on
| gold has run up to fabulous price and the
| financial credit of the nation has been brought
| to the verge of ruin. He has managed to en-
| rich few fsyorite brokers' while the masses
have been groaning under the enormous prices
Of the necessaries Of life. In short, Secretary
Chase for some time past has, to all appear
ances, been trying to outdo JEFF Davis finan-
cial minister, Mr.. Memmingcr, and reduce the
| value Of our currency, if possible, below that
| Of the waste paper of the confederacy. With
| the unmistakable evidence Of his mismanage-
| ment and its deleterious effects staring him in
| the face everywhere, no one but Abraham
| Lincoln would have retained him at the head
OF the Treasury as long as he has been retained.
| The change has not been brought about one
! day too soou for the good of the country.
The retirement Of Mr.. Cbase-or, as we sus-
pect, resignation to prevent Temoval-gives
us hope for the future. Tn order, however, to
insure its beneficial results, it must be
speedily and promptly followed up, or else
t will be Of no avail. Now that the President
has commenced to remodel his Cabinet he must
not stop there, but continueit until he is re-
lieved Of his incompetent advisers, who now
hang like an incubus upon hin. Mr.. Chase
commenced the quarrel in She Cabinet by his
attack upon Mr.. Cameron, ard in securing his
removal that he might place Mr.. Stanton at
the head Of the War Department to aid him
| in killing off Mcclellan. Now that Chase.
the prop, has been removed, Secretary Stanton
should be given notice to pack up also, and
General Mcclellan be Immediately placed in
charge Of the War Department The necessary
steps should also be taken to drive from Gideon
| Welles the effects Of the chloroform which he
has filed himself with, and arouse him TO con-
sciousness long enough for him to be informed
that Secretary Chase lbs left the Cabinet, and
t1at ne must initiate the example and make
room for some live man, like Admiral Dupont.
All this accomplished, tue people will then
believe that the President means to profit by
The rolliea and experiences Of the past, and en-
deavor to retrieve the disasters brought about
by the blunders and mismanageme of his
administration. With Mcclellan in the War
Office, Dix in the Treasury Department,
and Dupont in tie Navy Department, the
nation would arise to a new life. Conf
dence would be again restored, and the peo-
ple would feel assured that all their sacri-
fees for the country are not for naught, and
that our armies in the field would not be LEFT
without being fully and amply supported when
contcndng with the rebels. They would then
renew their faith in tho navy. That branch Of
the service would shake of the lethargy which /
has sunken into, and we should soon be called
} upon TO chronicle brilliant deeds, like those o
: Farrarut at New Orleans, and those which char
acterizcd the Mississippi feet during the frs
two and half years Of the war. II Presiden
Lincoln has the nerve and the determinatio
4 TO turn bis back upon the politicians and fol
a low this course be can redeem himself, bis ad
|. ministration and The nation. But If, now tha
!, he Las commenced applying the pruning hoos
l. lie looks back and hesitates, be Is gone. II
$ must now choose between the politicians an
= tho people. The time has arrived when
!. can no longer delay making choice, On tn
d his fate and the fate of the country rest.
The EMIGRATION PROM EURoPE ASD TIE
N GRAFTON TO the WEsr.--An unprecedented en-
v. grafton from Europe 10 this country has take
. place during The past year. II is obseivab
also that the migration to our great Tcrrit
= rics-Neyada, Nebraska. Colorado &c.--h.
"a immensely increased, the highways TO tbc'
N countries being filed with people on the
H. way TO locate there. Tho resnts durif
the next year will be enormous. While o.
" !, armies are developing the Ggbting qualiti
a Of this great nation, the thousands wi
10. have settled iu THO West will the great r
th sources Of those regions to an extent whi'
% will immensely increase our revenues and pr
~ dnnn a nnnsennant state of prosperity VI