The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-10-05

\ II, VII IeceiFe tue POSITION.
The yellow fever has appeared in vicksbarg and the
number OF nterments in New Orleans yesterday showed
an increase the day before.
The Cnbiaet-Why Ii Has Not Been Changed
aud Why Ii should BE Changed.
Again we have report from Washing on that
Mr. McCulloch is about to leave the Cabinet.
| For two years we have been hearing rumors
of changes in the Cabinet. 1t has been stock
theme all along Tor Washington correspond
ents, who rung the changes sometimes on one
secretary and sometimes on another, and occa-
slonally on all the Cabinet at once Nor have
these reports been without foundation at times,
so far as the wishes or intentions of the Presi-
| dent went. But mos. of the old Cabinet have
remained, and those members of it especially
who should have been removed long ago. The
President has been vacilating and undeter-
mined, badgered and threitened by his enc
mics, and pulled this way and that by his pro-
fessed friends till he knew not what to do.
The consequence is that Mr.. Seward, Mr..
| McCu!loch and NJ. Wylles have hung on to
their places. Had Mr.. johnson made a COM
plete change at the commencement Of his
| administration he would have saved himself
and the country great deal Of troable. But
that is past. The question now is how far the
evil can be remediei and what course the
President should take hereafter
These old members Of the Cabinet have
neither the confidence Of the people nor OF Con-
gress, except, perhaps, that Mr.. McCulloch is
insidiously supported by The Chase radicals
and the national bank men. Yet this is about
rs strong a reason as the President could find
for dismissing him. Welles is nonentity !;
Seward is trimmer and marplot and
McCulloch is running the country into financial
embarrassment by his incapacity and impracti-
cable theories. They are all positive weak
ness to the administration; but McCulloch is
more than that-he is great ca.am.ty to tie
country.
The Secretary Of the Treasury is simply Tie
creature OF Mr.. Chase and his friends. He
runs the Treasury machine for their benefit.
The complicated system established by Mr..
Chase and perpetua,ei by him provides places
for an army OF that portion Of Tie radical party
aud creates colossal fortunes for the Jay
Cookies and national bank capitalists. Two
objects are reached by tbs Treasury machinery
and inancial policy, ii policy it can be called.
First, Mr.. Chase and his friends and partisans
are made r.ch at the expense of the people,
and, second, powerful combination is estab-
lished for the purpose of controlling political
affairs and placing the Chief justice in tue
White House.
When we look at tho manner in which our
national finances have been managed from the
time Mr.. Chase went into Tho Treasury Depart
ment up to the present time, we are forced 10
the conclusion that the objects have been as
we have stated. 1t has been one system oil
through, system to enrich friends aud parti-
sans and TO create moneycd power In the
republic. Mr.. McCuloch has faithfully carried
out the purpose OF his chief and patron. Bank
ers and politicians from Ohio, Indiana and
other parts have had control Of the Treasury
and the resources of the country. What that
has cost the people it would be hard to guess.
The sum must be stupcndous. In fact our
enormous national debt is tho consequence.
We need not have been burdened with this
debt II any debt had been necessary 1t
would have been comparatively small had Mr..
Chase followed the advice and accepted the Of
fers of the New York bankers at the beginning
OF the war, as IL was understood he agreed to
do. A hundred and fifty millions in gold was
raised for him by the bankers then, and had he
sold his securities for what they would bring
in the market at tho time, as he had been
advised TO do, the capitalists of this city and
other parts Of the country would have fur
nished oil the money he required.
But this would not have made jay Cooke
and other friends rich, nor would 1t have
erected moncysd power in Mr.. Caase's inter-
| est. We should have had no suspension OF
| specie payments aud comparatively small
| debt but Mr.. Chase would not have attained
| tie object he had in view. Mr.. McCulloch Is but
the agent and tool Of Mr.. Chase in perpetustng
the ruinous financial system originally establish
cd. lie ia merely small country banker, has no
idea Of national finance, and only follows his
master. Such is the Secretary Of Treasury with
whom las great country is cursed. We are losing
hundreds OF millions through his incapacity.
| Unless be be removed we shall be plunged
into dreadful financial disasters II the Presi-
dent has not courage or sagacily enough TO re-
move The other old Cabinc. officers he should, al
leas,, request Mr.. McCulloch TO resign, aud ap.
point some able man in his place. We need Q
stat ,sman, and no, small country banker, o.
tee head Of tho Treasury Department.