New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-01-20


x his gang Your friend,
Though his appointment as Chief Justice of the
Supreme Court transferred him to another branch
Of government. his interest in financial problems
continued. and was The constant subject Of his
correspondence with Greeley:
My dear Mr.. Greeley
Reid showed me a letter from you the other day
you OF my wish to do all | can TO benefit paper
was glad t0.see your article on resumption. II
ax years e lay them in order before you. was
Sem aG Gus OF expansion 90 but never went
By aiding the
the latter took place after left the Dept SIe'
Would ( y9" like to see the list Of r5s
large & increasing wish you wd. advise Congress
to repeal the clause putting the nomination in me 60
Hon. II. Greeley. S. P CHASE.
Washington May Il. 1856
have had your letter Of the 9th & Mondays but
am that you. Of the Econc nsts School Of States
men, should favor the wretched extravagance--as
seriously consider !t-of the new loan or rather
funding project. | am sure you have not had time
to consider the matter thoroughly.
I agree with you to 81 agree with you as TO
Specie payments agree with you as to the FIX
points The best Fnancers of France & the Con-
inent are the other way & have some good argu-
ments their side.
But I don't agree as to the Expediency of 30
years or 20 yrs. loan. When was Secretary my IN,
ention was to consolidate into the 10 4 40 b and
was glad 10 see in the Tribune of yesterday an ex-
preston your belief hat the negotiation Of 1910
WIN then take new piano The 1O-iOs ris-
ing With a little care OF the Department they
Why out the dept beyond control for 80 yrs? 1t
never done in this country ana Is not zone oy
any other first class government, nor so far as
know by any other government OF our CLASS. we
have done 50 for 20 yrs consder II 3ne cor or INV INV
country break up that System II System IL couid
What need has the Treasury of money? Taxes
supply more than is spent q much more thah heed
be spent 1t can pay old debt ,,, ., g. a. cort,e.
There are now temporary loans at % certli,
Gates of indebtedness at S. compound d oec
Thirty year IS bonds at will be worth tnink
from the day the funding IL completed at least as
from q to 81 more than the average OF the seeuf
tiles they will exchange for except the DO p,
bonds They will Of course De ,ske f sesc nygis
amounting to oco9o The profit s5 to these Ha n Wbr
should we nav ANYBODY p or l. for making such a
present chiefly to bankers and brokers?
The only thing which could at all reconcile me To
such a monstrosity would lead to resumption: but
instead Of aiding 1t will very possibly nave me OPP
who receive gold instead of currency items: Now
every recipient of currency Items Is a reuemptloh
The only way to resumption Is 10 rssu tha,
This might have been done year ago better imam
to-day K easier
But ! wander a llttle. -.
You seem to suppose that We shall pay me dept
easier through the new loan ] -hink eXactiy v tne
other way Suppoe redemp9n fGnd h or o ph
loan. Then premium, must be paid How low nue. u,nb
nremum 1' on !. Ravins only 10 years to runn
fact less We also paid 2@OOOo 20 France tor
receiving pay in advance OF $1,000 Gi ner Yoy
called opposed Il Jones advoSater 1t, , ,Tu
can see his reasons in the Globe 1851 page is'a.
They are insEncye especaHy S,y ~ or ~
premium on a s. loan having 10 years to run than
to wait for the maturing OF tne 'oan, ~ , nay in
some other security & practically We may be sure
that this Will never be done. for one never want
" have written in great haste. am not apt TO
boast but know that understand me nnan itb
ont having given you this hurried exposition OF my
veNsthe correctness OF whiS youy WIN faiihfnv 0
'"''' - 5. =. CHASE.
The reorganization Of the United States courts
in tho southern States was another subject to which
he turned his attention 49, - H., ee
The anxious" man can have trial before Judge
Underwood That's one way inc our WI, w c,r
cumstances. but no question can De mdue Oh the
regularity OF the trial .,-. -, ,,,.,,,,
law is abrogated Il the Iabeas corpus Is restotsa
IN al cases win the JursGesoh oS T That done
Civil Courts OF the United states are no IonSeI
cci|iI Gourts That done | should hold the Courts
In Virginia 4 North Carolina a Try whateyer cases
| should ind on the docket. That's another way
or states may accede TO such terms OF retention
as NAV be- proposed by Congress, u thus or otner,
Use order 4 peace may be clearly re-estabshed
as IN Justify the Courts IN declaring the Habeas
corpus restored * the Martial Law abrogatoi' ana
~lyilians are unwarranted and null In such crcum-
& enforce the supremacy Of civil on military au-
IN" shortest easiest q in my poor Judgment. the
wscs, way to the proper trial of important causes
bV M. National Courts IN the rebel states - that
through a proper proclamation Of the PRESIDENT x
yet nope that such proclamation may De lssuy si
/ am glad 10 read what you say about nnancml
matters The on.y way 70 iesume IS fesnnmp'lon.
stned wear ago X let contraction take care or it.
snT contraction a policy preliminary to resump-
ton was a mistake. OF course the Fort WAYNE
snnrch was A mistake. The Secretary meant right
then bur the banks " circumstances were 700 many
Tor him y ne went on expanding in me worst way.
not only by actual Increase Of circulation put by
allowing large deposits to accumulate IN BANKS ana
inc ''s'''''''9 Faithfully yours
;. =. CHASE.
Though falling to receive the Presidential nomi-
nation in lS64 the hope never quite left Chase OF
eventually obtaining IT, and early in 1865 he made
his wish evident in this correspondence:
Washington. Jany Il. 1865
kmong nv hest treasures prize your esteem and
among my best sources of qualification place your
confidence: and thank you mos gratefully or me
confess OF the weakness of wish 10 see II IN the
Tribune
/ agree with you most fully that no man has any
claim upon the Presidency or any other Office When
"A man has done all he can for his country II ne
need not confess himself AN Improbable servant,
ne must admit that he has only done that which 1t
was his duty 10 do" And can say honestly that
| would rather be thought worthy of high position
& not have H. than TO have Il " not be thought
worthy And my fears that shall not prove equal
to the great trust such that shall find no great
difficulty In accepting popular decision adverse
TO the wishes YOU - kindly express.
As an argument your article seems To- me the best
presentation OF the case" II Is capable of: except
perhaps that the provision of the means for paying
the army and navy might be put more on a ground
Of accnntabilitv TO the soldiers and sailors, and in
This way the argument Of availability might be met.
Nv own conviction Is that party which mas Ideas
and principles which makes ii really strong is al
WAYS strongest when Ii trusts them fully Il that ne
is most available as It's candidate who most fully
represents them But | know that this Is not
equally the view of politicians | mean the pro-
fessional sortand see that the present set OF the
current runs AS they would have II. ! have some
faith. however yet In arguments addressed 10
common sense and earnest ftith. But such argu-