The New York herald., 1873-05-08
CHIEF JUSTICE CHASE.
CONTINUED FROM THIRD PAGE.

In lS19 the subject OF this sketch was chosen .
Senator Of the United states rom ONO, RECEIVING
or the Legislature. Mr.. Chase identified himself
with the democratic party only on account OF its
anti-slavery position at this time, and when Mr.
Pierce was nominated by the Baltimore Conven-
tSOn OF 1852, with platform approving the compro-
mise acts OF 1850, Mr.. Chase Withdrew nom the
party. lie next favored the organization OF an in
dependent democratic party, and prepared Q plat
form, which was adopted at .ne Conven
Congress against Mr.. Clays Compromise bill, al
though it failed to secure Its immediate object, gave
fresh vitality to the anti-savery movement. In
Ia54 the bill for the repeal OF the Missouri Compro-
mise, pOpularly known as the Kansas-Nebraska
BILL came up, and met with the most determined
opposition from M Chase. Despite his strenuous
s6srts and impassioned appeals the bl passed both
xR. CHASE AS GOVERNOR OF OHIO.
The opponents OF the Kansas Nebraska bill and
the Pierce administration carried Mr.. Chase into
oi ofiice was remarkable for his bold measures Of
reform and hls unwearying vigilance over the in
year Of his administration the National Convention
Of the republican party came near putting HIS
name before the country as Presidential candi-
reelected Governor at the expiration OF his first
term by an overwhelming vote, and some OF the
Ohio Legislature were the fruit OF his busy brain.
~. Mr.. CHASE AS A DEBATER AND ORATOR.
the che o e
Congress he acquired very high reputation as a
debater and orator-no small compliment consid-
He was remarkably sell-p0ssessed and cool and
never descended to personalities.
He was not SO much brilliant as dtgntned, sOld
and logical as political speaker. In 1854 he made
one OF his finest efforts In the Senate in reply TO
severe attack upon himself by MI Douglas ID reler
nian In its elegance and pointedness and Demos.
yhenian in Its scathing rebuke OF the advocates OF
slavery. In the year 1s6o at the expiration OF ms
second term as Governor OF Ohio, Mr.. Chase was
again elected to the United states Senate.
ME- CHASE BECOMES SECRETARY OF THE TREASURY.
Mr.. Chase filed his place in the Senate only one
day during his second term resigning to accept
the CABINET once of Secretary OF the Treasury un-
Cabinet was considered more desirable than any
public position except the Presidency. Now Cabi-
net ministers resign to become Senators. though
portfolio Of the Departments Of State or
Ne Chase came to the head Of the Treasury
the civil war was imminent and great administra-
auired OF the Secretary. Il was incumbent upon
him to furnish the sinews OF war and to suggest
and carry out methods for raising the funds neces-
sary to the prosecution Of the war. How well Mr..
Chase achieved the task committed may long be
subject OF controversy, but one merit will always
be accorded him, namely, that the army was never
paralyzed in Its movements for want OF money.
He was man so broad and comprehensive In his
Ideas and fertile and ready resources that he
had he negotiated his loans that most OF the
national debt was owned at home, giving rise 10
Nj. Lncoln's famous solecism that there was no
debt because the American people owed the money
70 themselves
~
Four months after taking charge OF the
Treasury Department Mr.. Chase made his first re-
70 On m 'he me- o. nG
the war he was all powerful in moulding the
enancial policy OF the government His appeal in
was received and answered by the country with
the patriotic fervor OF 2 call to arms.
hearty response. Al all times he was ready with
plan to I'LL the treasury that was certain to attain
the object he had In view. But he early abandoned
IN 0rat rOtic a
policy OF . bank and taxation for that Of the ma
iortty In Congress. He was directed TO issue
1000 600 In treasury notes, payable on demand,
rs measure OF temporary relief preparatory to
the adoption OF the legal tender or 'greenback''
the country. The effect Of this policy to drive
gold and silver from the marts OF trade and com IN
came necessary under the paper system.
THE LEGAL TENDER ACT.
The legal tender act was adopted as war meas
ure. 1t was vigorously opposed by the press and
great part OF the business men Of the country, but
when It was determined upon, Mr.. Chase set him
self to work to carry out the views OF Congress-
The Bureaus of the Treasury Department were in
creased, and the machinery thoroughly organized
government II had go gone into to the he" business Of
nanaactnring money, ana It a could on only
naud. The duty OF organizing this vast and deli
cate system devolved upon Mr. Chase, and he
Even down to matters OF the minutest detail his
system has not been improved upon by his sue
foresight in the management OF his trust were
alter all, only simple devotion TO his duty and
his country, and when as Judge he was called
upon to decide the constitutonaiity Of his work
IN executive ofcer ne went back to his original
objections 10 the Legal Tender act-an act which
he had executed only as war measure-and pro-
nOunced II unconstitutional.
The organization Of the Internal Revenue Depart
ment was also the work OF Mr.. Chase
THE NATIONAL LOANS
In the manas cement OF the national loans Mr.
Chase also showed great skill. The first OF these
mo WI hicn has ua " az
financial interest was the negotiation of the
famous nye-uwenty bonds 1t was in the negotia-
duced TO an admirng world. Other loans followed in
rapid succession till the crowning glory was reached
In the issue OF $3.50 900 In treasury
notes 1t is not easy to recount all these loans or
the repeated issues OF legal tenders, but II Will
sufce to say that when Secretary Chase found
Congress he gave himself no rest and most people
regard his financial administration as eminently
successful though the currency was inflated enor-
mOusly and gold rose to 2S51s IN the dark hours ol
Mr.. CHASE AND THE PRESIDENCY.
Mr. Chase always looked to the Presidency as the
goal OF mis- ambition He even aspired to succeed
Mr.. Lincoln in 1854 This was not at all satisfac-
tory TO the latter and 1t was generally believed at
the time that while the President would not punish
the temerity Of his subordinate in way that could
mis- magisteriai displeasure by making the secre.
tary Of the Treasury Chief Justice OF the United
being due to Mr. Cnase's great ' dlstincton and
talents, and his prominence as one OF the early
abolition leaders OF the country. AS = judge his
conduct was always OF the high character which
dignined all the actions OF his life. During the I'm
peachment trial Of Andrew Johnson he presided
over the Senate with extreme impartiality,
and gained great honor with the country
for his high spirited course, though Johnson's
bitter enemies were very severe in their de-
nunciati0ns OF the impartial conduct OF the Chief
Justice. The effect OF the trial, however, was to
loosen the ties which held him to the republican
party, and In 1868 he was candidate before the
New York Convention Tor the democratic nomna-
tion for the Presidency. At enc time his prospects
for the nomination were brilliant and 1t was after
wards regretted by many OF the democratic leaders
that he was not made the standard bearer OF the
party.
MR.. CHASE AND THE REPUBLICAN, PARTY.
Though originally one OF the founders OF the re-
publican party Mr. Chase's ideas OF reconstruction
hnd ms views oil many public questions were OF late
years not In harmony with his old associates TACT
shat was owing perhaps, more to journey ne
maae through the south, In 1865, than to his fair