Year: 1868

Seuntef Ssorguu Oh new


The people Of this great State have viewed
with some surprise the course pursued by
Senator Morgan since the impeachment trial
begar Difficult as it is to reconcile his votes
with strict impartiality from partisan consider
ations, the high character of the Senator has
shielded him to great extent from cens,ire.
Mr. Morgan is merchant Of this city he is
well known for personal integrity and purity of
purpose, and hitherto even his bitterest enc
mics have given him credit for acting from
conviction. But Mr.. Morgan cannot now so
far deceive himself as to believe that the con-
viction and removal of President Johnson will
cool down political asperities, resuscitate our
dropping commerce, rectify the financial mis-
management of his party, or in any respect
benefit the country at large. He must perceive
gross an outrage upon our institutions and
upon fair play cannot fail to have most disas-
trous effect. How, then, will Mr.. Morgan vote
when he is called upon to answer whether Mr..
Johnson is guilty or innocent of the puerile
charges which have been brought against him
The Senator is certainly fully aware of the
position of New York on this question. He
must know that by majority Of City thousand
the people of this State last November con-
demned the revolutionary course of Congress,
aud that since the impeachment trial com
menced at nearly every local election the radi-
Gals have met with most disastrous defeats.
viii he, a servant of the people, bend to the
will VI those who elevated him to the high po-
sition he occupies, or will he yield to the
clamors of party? This is a question which he
win probably have TO answer during the pre-
sent week. How will it be answered? viii he
defy his constituency and vote for conviction,
in violation Of every principle of law and
justice, or will he perform his duty to his State
and vote for. acquiital! The political future
of himself and his colleague rests upon this
issue viii Mr.. Morgan rise above partisan
considerations and sympathies. and, by per-
forming plain and imperative duty. insure
| the success of that future?


Loose Management Of the National hanks.
! The national banks are beginning to show
their contempt Of law and to display q
| high-handed. independent conduct. IL ap-
pears that the Comptroller of the Cur
rency has been compelled TO call upon
the bank officers to perform their duty
according to the twenty-ffth section OF
the National Bank act. which requires an ex-
animation Of their securities in the hands OF
the United States Treasurer. Hundreds of the
banks have neglected this duty, and II appears
they had some cause for the neglect in the in
sufficiency OF their securities They begin to
| fear close scrutiny or supervision. These are
! some Of the first symptoms OF rottenness which
| indicate n general smash whenever a financial
| crisis comes or whenever they may be called
| upon for specie payments. Like all great mo
nopolies with vast privileges and profits, these
banks become extravagant, speculative and
reckless. They win soon demand an expansion
Of their currency, and, considering their i'm
mense power, will no doubt obtain IL. This
may float them along on the high tide Of inHe-
ton for time. but The bubble will burst in y
few years at farthest. The sooner Congress
rcpeals the law creating these infamous mono
poles the better for the country. Knock the
props Of Treasury support from under them


which they have no right to receive. aud they
win fall by their own rottepoess