The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-08-16

East is growing at a pace which demands all
the protection that can be afforded to 1t. The
cost will not be trile. But it must be borne,
or we must be content to step back and take
a second commercial position. Gradually, as
regular intercourse is opened up by our great
Pacific mail line, we shall be able to measure
the nature of the risks to which our commerce
may be subjected. We shall know whether
the enforcement of treaty obligations will in
volve us in any other than the ordinary ex-
penditures Of maintaining conventions else
where. There seems to be fair chance for a
fair commercial reciprocity with both japan
and China. With the Japanese authorities we
have already made as much progress, con-
jointly with England France, and the Govern
ment of the Netherlands, as we could have
reasonably anticipated. But we have to be
prepared for an occasional warlike demonstra-
tion like that reported from Formosa.
Irregularities in the Treasury Depart
ments .....
From the ~ Y. Herald. an
We have had in our hands for several days
to use the mildest term, in the Treasury De-
partment, as well as various extracts from
evidence confrmatory of these, which has been
suppressed. These statements and extracts
are of such character that we have hesitated
to publish them, though we fear there is too
much reason to believe they are true in whole
or part. 1t appears that some of these irregu-
larities and believed deficiencies in the Trea-
sury have existed for some time. 1t is re-
ported that Mr.. Chase left the Department in
very unsatisfactory condition.; that Mr.. Fes-
senden, his successor, made investigations and
took testimony as to the reported deficiencies
and frauds, and that investigations have been
made since. All this evidence has been sup
pressed. What has become of it? Why was
it covered up so silently and mysteriously2 1t
is asserted, and documents before us go to
show, that the amount involved in these
Irregularities swells up to the enormous sum
of several hundred millions.
One portion of the evidence shows between
two and three hundred millions, and another
over fifty millions; and it is believed these
sums fall far short of the total amount. This
is part of the secret history of the Treasury
Department during the last few years; but it
has been made known lately that the frauds
upon the Government in whisky, petroleum,
and tobacco fall little short of a hundred mil
lions. This is an alarming state of things.
Why does not the President look into these
matters and bring out the evidence ? Why
does not Mr.. McCulloch, who is member of
the Church, saint, great fnancier, and in
favor of resuming specie payment, probe these
frauds to the bottom, and spread the facts
before the public We fear there is too much
truth in the startling extracts of suppressed
evidence to which we have referred. Let us
have more light. The bondholders will be
nervous and the people will not be satisfied
until we know the facts.
Tbs Issue Of the Day-Are we to be Cow
erned by Negro Balance OF Power.
From The ~ Y. Herald.
The improbable conflict between the Presi-
dent and Congress has at last brought before
the American people one of the most extraor-
dinary and momentous issues ever presented
as a governmental measure in any country
since the Goddess of Reason was set up in
Paris in the place of the Christian religion.
This issue is presented in the radical pro
gramme of Southern reconstruction, and it is
simply this-shall the country be governed
hereafter at Washington through negro
political balance of power For seventy years
with lucid interval here and there, we were
governed by an impiOus and insolent Southern
oigarchy of three hundred thousand negro
Shareholders. Finding, at length, that their
balance of power had slipped through their
fingers, those three hundred thousand slave
holders plunged the late so-caled Confederate
States headlOng into a bloody rebellion, from
which they emerged after four years Of tena-
cious and desperate fighting, utterly shorn of
slavery and all its political advantages. This
old Southern oligarchy has thus ceased to
exist, and the places which knew it shall
know 1t no more forever. But here the ques-
tion arises, Is the great North prepared for
another Southern balance of power, which 1t
IS proposed shall be given to five hundred
thousand negro voters, just released from the
moral darkness and degradations of Southern
slaveryl
This is the great issue of the day; and how
are we to meet 1t After General Grant, at
the head of eleven hundred and fifty thousand
Union soldiers in the field had given the deci-
sive blow to the Slaveholders' Rebellion at APP
pomattox Court House, the work of Southern
reconstruction might have been satisfactorily
accomplished within six months had our Fede-
raj authorities, President and Congress, been
governed by purely patriotic considerations
But with the collapse of the Rebellion Andrew
Johnson, OF Tennessee, through Abraham Lin
coins assassination, became President of the
United States; and unfortunately, from the
very first day of his promotion, Mr.. Johnson
proved himself unequal and fearfully incom-
petent to grasp the duties and the advantages
OF his position. Otherwise, his first act after
taking his oath of Office would have been a
proclamation calling Congress together. This
Gone, an agreement between President and
Congress, with the meeting of the two Houses,
upon plan of Southern reconstruction and
restoration, including a qualified negro sur
irage, would have been easy and 1T would nave
| been conclusive. ..r
But, unduly inflated with foolish notions OF
mis- own wisdom and capabilities, Mr.. Johnson
! began by assuming the functions of the law
making power, and SO with the first regular
meeting OF Congress after his promotion to