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A Noble Letter From Chief-justice Chase

A Noble Letter From Chief-justice Chase image
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Schucker's Life of Chase gives the following, whioh is part of a letter wiitten by Mr. Chase, the Secretary of the Treasury to Jay Cooke, June 2, 1863. „ You informed me two or three weeks ago that you had purchased 300 shares of Philadelphia and Erie Railroad stock for me. At that time I was expocting ineans of payment from the sale of a farm in Ohio, and would have been glad to hold the stock for income. The sale, howevor,. has not yet been effected, and I have, therefore, not been able to make payment. " This morning I have yours of yesterday, notifying me that you have sold tho stock at an advance wliich gives a profit of $4,200 on the transaction, and you inclose me a check for that aniount. " As I had not paid for the etock, and did not contémplate purchasing witli any view to resalo, I cannot regard the prolit as mine, and, therefore, return the check for $4,200. It is herewith inclosed. " I am much obliged to you for your willingness to regard the money paid for the stock as a temporary loan froiu you to ine. But I cannot accent the favor. "When Congress, at the last session, saw fit to clothe me with very largo powers over currency and financial movements, I determiued to avoid every act which could give occasion to any suspicion on me to affect markets unnecessarily, or at all, with referonce to the private advantage of anybody. To carry out this determination faitüfully, I must decline to receive any advantages from purchases or sales mado with viuws to profits expected froni the rise or i'all of inarket prices. "For these reasons I must decline to receive the check. For, in order to be able to render the most efficiënt service to our country, it is essential for me to be right as well as to seern right, and to seem right as well as to be right." An English blacksinith, being at present without an assistant, has for somo weeks b'jn instructing his eldest daughter in the mysteries of his trade, and she is already an expert at the business. Tho young lady csn shoe a horse in a good woikmanlike fashion.


Old News
Michigan Argus