The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-12-30

net. IN fact tDls seems 10 De o standing dish
with the correspondents when other materials
give out Still, there may be something in the
rrmors- Stant0n's removal was spoken Of
every day or two for some time before it took
place The old saying that where there is 80
much smoke there must be fire was verified in
that case, and it may be so again with regard
to rumored changes now. 1t is said Mr..
McCulloch will send in his resignation in few
days, and that our Minister in England, Mr..
Adams, may be his successor. II is added
also that Mr.. McCulloch will take the position
OF Mr.. Adams at the Court Of St. James, so that
twill be a change of places for these two gen.
tlemen. The President moves slowly in such
matters, as we saw in the case Of Stanton, and
it may be that he has come to the sensible con-
clusion at last to make q change in the Trea-
sury Department.
We have no idea that Mr.. McCulloch will
send in his resignation, to use the words of the
correspondent, unless he has received or
should receive a very broad hint from the
President that it is necessary he should
leave the Treasury Department. He Is too
much welded to bis absurd financial theories
and too closely connected with the interests
of Mr.. Chase, Jay Cooke, the bondholders and
national banks, and with all these political
and money spectators, to willingly resign his
post However, the President may see from
the action OF Congress and from public senti-
ment everywhere that few have any confidence
in Mr.. McCulloch's financial policy or ability,
and may have told the Secretary that his resig-
nation is desired. Whatever views Mr.. John
son may have about financial matters he il an
old political campaigner, and we know OF no
public man more likely to adapt his course to
popular sentiment Besides, he cannot help
seeing that Mr.. McCulloch is incompetent to
manage the national finances at this critical
time and is the great obstacle In the way of
reforms which are imperatively demanded.
We think 1t probable, therefore, that this
change in the Cabinet at least will be made.
AS to Mr.. McCulloch's successor, the Wash
ington correspondents may be mistaken in their
conjectures. We cannot see on what grounds
or for what reason Mr.. Adams should be ap-
pointed to the Office. He has very respect
able abilities for the position he occupies and
does very we'll in the couriy sphere Of am
bassador ut London; but we never heard he
was an able man in financial matters. Though
the President might like to do something to
soften the fall Of Mr.. McCulloch in appointing
him to a mission abroad, there is no reason to
believe be would remove Mr.. Adams and make
him Secretary of the Treasury for this purpose
alone. Mr.. Johnson would hardly think SO
little of the most important position in the gov
eminent at the present time as to make mere
of it for the accommodation of in
.
In appointing a new Secretary Of the Trea-
sury the President win be governed, probably,
by two considerations first, the fitness OF the
man for the position, and next, the political
bearing ofthe appointment. Instead OF taking a
Secretary from Boston or some Western country
bank or law Office, he most likely would prefer
taking one from New York, the great financial
and commercial centre Of the country. Such
4 man rs our able Collector OF the Port Mr..
Smythe, would be deemed, probably, the best
selection, in strictly business point Of view,
and looking simply to the efficient manage
mcnt of the Treasury Department But the
President in all probability, may look at the
political consideration also, and that may have
the greatest weight His indirect but palpa-
BILE nomination Of General Hancock for the
Presidency shows great deal OF sagacity.
II he cannot be nominated himself he will do
what he can to defeat the radical republicans.
In his movements to this end he looks chiefly,
no doubt to the great Slate of New York.
The democrats have gained the ascendancy
here through the disgusting negro supremacy
policy Of the republicans, and will most likely
hold IT. Dean Richmond, through the Central
his pocket, but since his death q mightier man
than be has come up. Vanderbilt not only
inhcrits the power OF the Dean, but has become
far more powerful. Dean Richmond only
drove one horse affair, though that was pow
crful; Vanderbilt drives four horse team.
The former had the Central Railroad only the
latter has, besides that road, the Harlem, the
Hudson River, and firm grip on the Erie.
Controlling these roads AMI the democratic
party, the latter, in connection with Peter
Bismarck Sweeny and the Schells, may con-
troll the President in the matter Of . Cabinet
Office. In that case who knows but his fugle-
man, Richard Schell, or the other Schell, might
wake up to find himself transformed into o
Secretary Of the Treasury, If Mr.. Smythe be
in this mighty four-in-hand combination he may
have the best chance, as he Is doubtless well
fitted and holds controlling position but IL
he be altogether an outsider his prospects are
not so good The political consideration will
be an important one, no doubt, with the Presi-
dent At all events, We trust the rumors Of
Mr.. McCulloch's removal may prove true. In
that case his successor should be q thorough
business man from the great financial and COM
mercal centre OF New York.