The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-12-11
Chan ne in the Treasury Department and
Cabinet Req uireds t

-f-.Hf Cabinet hequ1reus
FSom the ". Y. Herald
The emphatic condemnation Of Mr.. Mccall
loch's financial policy by the House of Repre-
sentatives calls for the immediate resignation
Of the Secretary. The overwhelming vote of
one hundred and twenty-seven against his
favorite policy of contracting the currency
with only thirty two votes in favor of it-that
is, three-fourths of the House opposed to him
on this very important question-shows the
imperative necessity of change. Indeed, we
cannot believe Mr.. .McCulloch has so little
self-respect and sense as to wish to remain at
the head of the Treasury Department after
such decided condemnation of his policy. If
the question before the House had been one
of an unimportant or less important character,
he might cling to his Office with some excuse
or show of reason; but this of contraction and
forcing specie payments before the country is
prepared for it is broad and vital one. 1t
has been the foundation of his financial
theory and superstructure, and all the opera
tiOns of the Treasury have been built upon it.
The greater part of his wordy, diffase, and
weak report to Congress is an attempted de-
tense of his views and conduct with regard to
this matter. He seems, in fact, to stake his
reputation and position on that. How can he
remain in Office, then, after being thus con-
demned by the representatives of the people
Congress, last year, when less enlightened
than 1t is now, and when 1t had more conf
dence in the untried ability Of Mr.. McCulloch,
left the matter of contraction within certain
limits to his discretion. What has been the
result 1t was never intended that he should
use the power granted to iniure the country
yet he continued to withdraw the legal-tender
currency while every step he was taking para
lyzed trade and suspended industry. The
press and people cried out against this, for
ruin was staring them in the face; stil he was
blind and obstinate. 1t was only when the
effect was felt in the Treasury, and deficient
revenue threatened that he was forced to aban-
den his ruinous course, and then merely for a
short time. He learns nothing either from
experience or the history of other countries
When the House of Representatives passed
the resolution to suspend his operations he
was In full swing of contraction again, not
withstanding failures, suspensions, and fnan-
clal trouble in business we're springing up all
around him. The country and the representa-
tlVes OF the people have lost confidence in
him. Even his former staunch supporters
are abandoning him for we see one of the
writer's Of the lesser radical organ of this city,
the New York Trimmer, sneeringly calls him
the "Indiana banker"
But 1t is not only on account of his ruinous
contraction policy that Mr.. McCulloch should
resign or be removed. The Treasury Depart
ment has been fearfully mismanaged in other
respects while under his control. Over a
hundred million dollars have been lost
through internal revenue frauds, and that in
one OF TWO articles only. In all probability
tne losses to the Treasury from his inoapa.
Olty Sno IT, Encouragement amount TO hundreds
OF millions. This is frightful to Contemplate.
NO OIner government would keep such man
IN once an hour. Besides, he has utterly
1aileo 10 give us any practical plan 10 reduce
taxation, TO improve the finances to him
economy, or to benefit the country In q y1ar5e
Mr.. McCullooh is the greatest failure ss ~, >
finance minister with which any nation was
ever afflicted. "''
In England, France, or any other oraat
country, minister of fnance,would resign in.
stantly If his policy were condemned by the
representatives of the people, as Mr.. McCul
lOoh's has been. Even an absolute monarch
would not venture to retain him in office
Would ii be decent, then-wOuld II not b.
Outrageous-for Mr.. MeCulloch to hold hi
place. II he should not respect the will Of th,
people and the voice of their representatives
If he has no regard for the welfare of the
country or for his own selfrespeot, and viii
not voluntarily resign, the President should
demand his resignation or suspend him. II,
has oOst.the country too much already, and /
cannot anOFd to lot man so incapable and 81