The Portland daily press., 1867-12-04

times impracticable duty of becoming a prose-
cutor. The prosecution is to be conducted be-
fore tribunal whose members are not, like
him, responsible to the whole people, but to
separate constituent bodies, and who may hear
his accusation with great disfavor. The SEN
ate is absolutely without any known standard
of decision applicable to such a case. or iudg-
ment cannot be anticipated for it il not GOV
erned by any rule. The law does not define
what shall be deemed good cause for removal.
1t is Impossible, even to conjecture, what may
or may not be SO considered by the Senate.
The nature of the subject forbids clear proof.
II the charge be incapacity what evidence will
support it,
Fidelity to the Constitution may be under
stood IN thousand different ways. and by vio-
lent party men in violent party times unfath-
fulness to the Constitution NAV even come to
be considered meritorious. Ifthe officer be ac-
eused OF dishonesty. how shall it be made out
Will 1t be enforced from acts unconnected with
public duty, from private history, or from gen.
eral reputation or must the President await
the commission of an actual misdemeanor in Of
tce' shall he in the meantime risk the charac
ter and interests OF the nation in the hands of
men TO whom he cannot give his confidence
Must he forbear his complaint until the mis-
chief Is done, and cannot be prevented? Ii his
zeal In the public servee should impel him to
anticipate the overt act, must he move at the
peril OF being tried himself for the offence of
slandering his subordinate. In the present
circumstances of the country, some one must
be held responsible for official delinquency OF
every kind; it is extremely difficult TO say
where that responsibility should be thrown if
II be not left where it has been placed by the
Constitution; but all just men will admit that
the President ought to be entirely relieved from
such responsibility, if he cannot meet it by rea-
son OF restrictions placed by law upon his ac-
ton. -,-- .IF
The unrestricted power of removal from Of
lice Is very great one to be trusted even to
magistrate chosen by the general suffrage of
the whole people and accountable directly to
them Tor his acts. 1t is undoubtedly liable to
ABUSE, and at some periods of our history, per-
haps, has been abused. fit be thought desir-
able and constitutional that it should be so
limited as to make the President only a com
mon informer against other public agents. he
should at least be permitted to act in that ca
pacity before some tribunal independent of par
ty politics. ready to investigate the merits of
every case, furnished with the means of tax.
ing evidence, and bound to decide according to
established rules. This would guarantee the
safety OF the accuser when he acts in good faith
and at the same time secure the rights of the
other party. speak, of course with all pro-
per respect for the present Senate, but it does
not seem to me that any legislative body can
be SO constituted as to insure its fitness for
these functions. 1t is not the theory of this
Government, that public offices are the proper
ty of those who hold them. They are given
merely as trust for the publ, benefit, some
times for fixed period, sometimes during good
behavior hnf pelallx fhav oh 20 10
terminated at the pleasure of the appointing
power, which represents the collective majesty
and speaks the will of the people. The forced
retention OF office of single dishonest per-
son may work great injury to the public in
terests. The danger to the public service comes
not from the power to remove but from tie
power to appoint; therefore it was that the
trainers Of the Constitution left the power of
removal unrestricted, while they gave the SEN
ate right to reject all appointments. which in
its opinion were not fit to be made. A little
reflection on this subject will probably satisfy
all who have the good of the country at heart,
that our best course is to take the Constitution
for our guide, walk in the path marked out by
the founders of the Republic, and obey the
rules made sacred by the observance of our
great predecessors. The present condition of
our finances and circulating medium is one to
which your early consideration is invited The
proportion which the currency of any country
should bear to the whole value of the annual
produce circulated by its means is question
upon which political economists have not
agreed. Nor can it be controlled by legisla-
ton, but must be left to the irrevocable laws
which everywhere reonlate Commerce ond
trade, The circulation medium will oyor ~
resistblv Aou 70 tboso ,,o;.. - :. ::
-notoot - Poi''' "heie Al is Ill
THE NATIONAL FINANCES.
The law OF demand and supply is as unerr-
ing as that which regulates the tides of the
ocean, and, indeed, currency like the tides has
Its Gibbs and flows throughout the commercial
world. AT the beginning OF the rebellion the
oank note circulation OF the country amounted
to not much more than two hundred millions
OF dollars. Now the circulation of National
Bank notes and those known as legal tenders is
nearly seven hundred millions. While it is
urged by some that this amount should be in
creased, others contend that decided reduction
Is absolutely essential to the best interests of
the country. In view OF these diverse opinions
1t may be well to ascertain the real value of our
paper issues when compared with metallic or
convertible currency. For this purpose, let us
inquire how much gold and silver could be
purchased by the seven hundred millions of
paper money now in circulation probably not
more than half the amount of the latter, show
ing that when our paper currency is compared
with gold and silver its commercial value is
compressed into three hundred and fifty mil
lions. These striking facts make it the obvious
duty Of the Government, as early as may be
consistent with the principles of sound political
economy, to take such measures as will enable
the holder of its notes, and those of the Ma
tionai banks, 10 convert them without loss into
specie or IT'S equivalent f,.I
reouctlon Oh our paper circulating medium
need not necessarily follow. This, however,
would depend upon the law OF demand and
supply, though 1t should be borne in mind that
oy making legal tenders and bank notes con-
Vertaoie INTO com or Its equivalent, their pres
ent par value IN the hands OF their holders
Wouio De enhanced one hundred per cent
Legislation Tor the accomplishment OF result
SO desirable is demanded by the highest public
considerations. The Constitution contemplates
that the circulating medium OF the country
shall be uniform in quality and value. At the
time OF the formation OF that instrument the
country mad just emerged from the war of the
neVoiution, and was suffering from the effects
III, reouhoant and worthless paper currency.
ine sases OF that period were anxious to pro-
.ect their posterity from the evils which they
themselves hao experienced. Hence in pro-
yio,ng 9 cireuialag medium they conferred up
on congress the power to com money and reg
uiaee the va'ue thereoi' at tne same Tune pro-
ni1itlhg tne otates IRON making anything but
goid ana SILVER legal tender IN payment OF
oeDss' lt
Inc anomalous condition OF our currency IS
IN striking contrast with that which was orig
ihany oesigned. Our circulation now embraces
-nrst' loans OF National Banks, which are
maze receivable Tor all dues to the Government
eAciadlng imports and by all its creditors ex-