The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-11-13
NOVEMBER 13 1s67.-TRIPLE SHEET


Ano ingenious ana lnvenuve washington
correspondents Of the press put out every day
or two rumors Of changes about to be made
in the Cabinet 1t is a fruitful subject and az
fords abundant materials for speculation. The
wavering views and purposes of the President
often mislead the industrious correspondents,
who run their legs Off by day and lay awake
at nights to cook up food for public always
hungry for news. In fact, this Cabinet BUSH
meas has been continual muddle, first. be-
cause Mr.. Johnson himself did not know what
to do, and next because there are always nu-
merous cliques and agents of Cabinet aspi-
rants manufacturing news for effect
One of the last rumors is that the efficient
Collector Of the Port of New York, Mr..
Smythe, is to be made Secretary Of the Trea-
sury in place of Mr.. McCulloch. This, like
many others, may have little foundation, but
it has greater show Of probability from the
fact that Mr. Smythe has no clique or agents in
terested in putting forth such rumor. The
Collector is an honest and practical business
man, above the arts and tricks OF pipe-laying
and scheming politicians. He makes no effort
to manufacture news for public effect or to in
fuence the President, and, therefore, it is
probable he has not been mentioned for Sec
rotary of the Treasury without authority.
Presuming this to be the case, and that the
President is really contemplating such a
change in his Cabinet, we have no hesitation in
saying the appointment Of Mr.. Smythe would
be an excellent one. In the trying situation
Of Collector he has shown great ability and in
flexible honesty. These are qualities Of all
others which are 50 much needed now in the
Treasury Department. He Is New York mer-
chant and banker, has had lifelong expert
ence in financial matters, and has won the
esteem Of the business community for ability
uniformly displayed in the various positions
which he has occupied. He was one of those
prominent bankers and capitalists whose coun-
sci and assistance Mr.. Chase sought in the
early part Of the war, but afterwards rejected.
Had the advice Of Mr.. Smythe and
those other gentlemen been followed
to raise the money needed by direct
loans-we should not have been burdened
with the enormous debt that now presses
upon Us, nor would our finances and currency
have been in such confusion. Specie payments
might never have been suspended, or II sus-
pended temporarily, we might by this time
have returned to them again. Such man, who
has been connected all his life with the large
financial and commercial affairs of this great
metropolis, is certainly more fitted for Secre-
tary of the Treasury than the small village
banker now occupying that position.
II is proper, too, that the finance minister Of
our country should be taken from its great
financial and commercial centre. We do not
say that ifa man of very superior ability for this
Office could be found elsewhere he should not
be appointed, but we do say, other things
being equal, the Secretary Of the Treasury
should be from New York Besides. the chances
are that . gentleman connected with the large
business operations of this city would from that
circumstance alone be most fitted for the Office.
But at present there seems to be an obstacle
in the way Of appointing Mr.. Smythe or any
other gentleman from New York. One men,
Der Of the Cabinet-Mr. Seward-is from this
State, and 1t would be contrary to practice to
take another at the same time. Though there
be no constitutional objection to taking two
members Of the same Cabinet from one State,
1t would not be proper to do so. In order TO
make Mr.. Smythe Secretary Of the Treasury Il
would be necessary that Mr. Seward should
resign. To him personally this would be very
painful, doubtless but he ought to have sufi-
cient regard for public sentiment the embar-
raising situation Of the President, and the good
Of the country, to voluntarily get out of the
way. His public honors and usefulness have
reached their limit We shall want to purchase
no more territory as long as he lives, and our
foreign relations would be better conducted BY
a man not given 80 much to tedious circumlo-
cution and toadyism to foreign governments.
His peculiar statecraft Is unsuitable to our
republic, and not at all needed now. A clerk
in the State Department accustomed to is rou-
tine could do all that is necessary. A premier
here is fiction. The financial affairs Of the
country are paramount to everything else in
the administration. Mr.. McCulloch is totally
unfit TO manage them. He is leading us rapidly
into serious complications. We want some one
in his place who will extricate the country
from q frightful system Of taxation and save
us from the evils that threaten us. II the
President has any comprehension Of our Hnan-
cial situation, If he has any decision Of charac-
ter and moral courage, he win by some means
or other get rid OF Mr.. McCulloch and Mr.
Seward, aud appoint Mr.. smythe or some such
capable man from this great commercial me-
tropolis 70 the Treasury Department.
The Railroads and the stnte Laws.
The recent decision Of Judge Barnard, Of
the Supreme Court refusing . mandamus to
compel the admission Of the Pennsylvania
Central Railroad to- Castle Garden, is based