The New York herald., 1868-04-21

ReHyl IOr tne nluru6f OF COuuttSS OhoiiuNJ -
to come off in Vienna, and her accomplice,
Count Chorinsky, will be tried at Munich.
1t is some time since the criminal courts or
Europe have been engaged in murder cases
where members Of the nobility figured as the
chief actors.
Impeachment a Political Nccessity-Ben
wndc's Policy.
The statement that impeachment is neces-
sity to the republican party has more signif-
canoe than many who are in the habit of
making it, or hearing it, may suppose. The
removal of Andrew Johnson and the installa-
tion of Ben Wade in his place are vital to the
existence of republicanism as political organ
ization; for without full possession of the
entire machinery of the government, and un-
restricted power to carry out certain line of
policy, it is doubtful whether the party could
hold together until the next general election.
The secret motive that more than any other
underlies impeachment is the conviction that
the country is on the eve of tremendous re-
vulsion, which, unless averted, is certain to
bring down our financial and commercial
| systems in ruins, and to bury beneath them the
men who are responsible for the existing con-
dition of affairs. The war brought about
an entire change in our habits as COM
mercial people, inducing an eager desire
for the rapid accumulation Of wealth and
recklessness in speculation and expenditure
unknown before, even in this country. Since
the close of the rebellion we have been con-
tinuing on at high pressure speed, increasing
the burden of debt and taxation and keeping
up our military and other governmental ex-
penses on war footing, while the Southern
States remain disorganized and shut out from
the nation as a source Of commercial wealth.
1t is evident that the reaction which is inevi-
table sooner or later, cannot be much longer
postponed, and there are unmistakable signs,
in the recent commissions in railroad and other
stocks, of an approaching panic, which, if not
checked, will bring about a great political
revolution, resulting in the entire overthrow of
the republican party.
| 1t is to meet and avert this danger that
johnson is to be deposed, 80 that, with one OF
| their own number in the Executive Office and
| q
policy may be carried out by the republicans
based upon the principles of the famous speech
of Ben Wade in the West last year. We
should not be surprised if the first
act would be to food the currency by
the immediate issue of one hundred million
dollars through the national banks The
promise of return to specie payments by the
republican party is in the same category with
the promises of the Kingdom of Heaven made
by the missionaries to those converts who are
prompt in the settlement of their tithes. The
| first increase of hundred million of new
paper will only be drop in the bucket, and
will be followed by further imitation as the ne
cessities of the party may require. 1t will,
however, at the start carry with it a specula-
| tive credit of eight hundred millions, under
the influence of which all manner of land
schemes, railroad projects and every con-
ceivable means of investment and profit will
receive tremendous impetus. The age of
| iron, the golden age and the age of brass, will
be followed by the age of national bank rags,
and there will be an expansion Of credit all
over the country such as the world
has never yet witnessed. In Eng
land and France the government banks
hold a check upon financial affairs;
but with us there is no such restraining power,
and with Congress fostering all the most
extravagant schemes and jobs, and with an
Executive whose agrarian principles are well
known, we shall have perfect saturnalia Of
credit and speculation. Stocks will rise to a
fabulous price and the widest projects will find
ready adherents. Thus the financial crisis
which is now nearly upon us will be driven of
to future period, fictitious prosperity will
amuse the people and distract their thoughts
from the political troubles of the times, and the
election will be carried in whirl and tempest
of excitement.
As matter of course the crash will come at
last. The property that has been produced in
the progress of the expansion policy will
remain, but, as we said in 1887, it WILDE "run-
ming about all over the country trying to
find its owners" Prices will fall with fear
full suddenncss and the revulsion will be
tremendous. All the banks, railroads, tele-
graph lirfes, express and other stock COM
panies will break down, and their shares will
be purchased at ten cents on the dollar. The
men who are to be instrumental now in bring
ing upon us the era of imitation and expansion
will have the inside track, and. possessing the
knowledge of the moment when the panic will
fall upon the country, win avail themselves Of
it, escape from the ruins and buy up all the
railroads and other property Of the country for
mere song. So that they will not only sue
coed now in driving off the hour Of their
political downfall for another Presidential
term, but viii eventually get into their own