Of the great abilities which Mr. Chase, in his administration of the Treasury, exhibited through the three arduous years of that public service, no question has ever been made. The exactions of the place knew no limits. A people, wholly unaccustomed to the pressure of taxation, and with an absolute horror of a national debt, was to be rapidly subjected to the first without stint, and to be buried under a mountain of the last. Taxes which should support military operations on the largest scale, and yet not break the back of industry which alone could pay them; loans, in every form that financial skill could devise, and to the farthest verge of the public credit; and, finally, the extreme resort of governments under the last stress and necessity, of the subversion of the legal tender, by the substitution of what has been aptly and accurately called the "coined credit" of the Government for its coined money--all these exigencies and all these expedients made up the daily problems of the Secretary's life. We may have some conception of the magnitude of these financial operations, by considering one of the subordinate contrivances required to give to the currency of the country the enormous volume and the ready circulation without which the tides of revenue and expenditure could not have maintained their flow. I refer to the transfer of the paper money of the country from the State to the national banks. This transaction, financially and politically, transcends in magnitude and difficulty, of itself alone, any single measure of administrative government found in our history, yet the conception, the plan, and the execution, under the conduct of Mr. Chase, took less time and raised less disturbance than it is the custom of our politics to accord to a change in our tariff or a modification of a commercial treaty. Another special instance of difficult and complicated administration was that of the renewal of the intercourse of trade, to follow closely the success of our arms, and subdue the interests of the recovered region to the requirements of the Government. But I cannot insist on details, where all was vast and surprising and prosperous. I hazard nothing in saying that the management of the finances of the civil war was the marvel of Europe and the admiration of our own people. For a great part of the wisdom, the courage, and the overwhelming force of will which carried us through the stress of this stormy sea, the country stands under deep obligations to Mr. Chase as its pilot through its fiscal perils and perplexities. Whether the genius of Hamilton, dealing with great difficulties and with small resources, transcended that of Chase, meeting the largest exigencies with great resources, is an unprofitable speculation. They stand together, in the judgment of their countrymen, the great financiers of our history.