There are some blunders in the finding of the court in
Scofield's case that I do not like. I telegraphed to Wilson, Judge-Advocate, to
come here for consultation and explanation, but a telegram just received says
he is unable from indisposition.
The Treasury management is terrible, ruinous. Navy requisitions
are wantonly withheld for weeks, to the ruin of the contractor. In the end the
government will suffer greatly, for persons will not under these ruinous delays
deal with the government at ordinary current rates. The pay of the sailors and
workmen is delayed until they are almost mutinous and riotous. There is no
justifiable excuse for this neglect. But Mr. Chase, having committed blunders
in his issues, is now desirous of retiring certain paper, and avails himself of
funds of creditors on naval account to accomplish this. It is most unjust. The
money honestly due to government creditors should not be withheld for Treasury
schemes, or to retrieve its mistakes.
I am daily more dissatisfied with the Treasury management.
Everything is growing worse. Chase, though a man of mark, has not the sagacity,
knowledge, taste, or ability of a financier. Has expedients, and will break
down the government. There is no one to check him. The President has
surrendered the finances to his management entirely. Other members of the
Cabinet are not consulted. Any dissent from, or doubts even, of his measures is
considered as a declaration of hostility and an embarrassment of his
administration. I believe I am the only one who has expressed opinions that
questioned his policy, and that expression was mild and kindly uttered. Blair
said about as much and both [he and I] were lectured by Chase. But he knew not
then, nor does he know now, the elementary principles of finance and currency.
Congress surrenders to his capricious and superficial qualities as pliantly as
the President and the Cabinet. If they do not legalize his projects, the
Treasury is to be closed, and under a threat, or something approaching a
threat, his schemes are sanctioned, and laws are made to carry them into effect;
but woe awaits the country in consequence.
SOURCE: Gideon
Welles, Diary of Gideon Welles, Secretary of the Navy Under Lincoln and
Johnson, Vol. 2: April 1, 1864 — December 31, 1866, p. 58-9
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