Notwithstanding all these enormous expenditures the business interests of the country continued prosperous, and the fact that so large a reduction had been made in internal taxes gave promise that within a comparatively short period the Government would be able to remove all levies that were in any degree oppressive or even vexatious to private interests.
By reason of his official and personal connection with the President, Mr.McCulloch had failed to secure cordial support from Congress, and had moreover given offense by his obvious sympathy with the free-traders, who were already beginning to assault the protective tariff which the necessities of war had led the country to adopt.

The Secretary had also gone far beyond the popular wish and the best business judgment of the country in regard to the rapid contraction of the currency.

But while his politics and his policies were not acceptable to Congress or to the people, he is entitled to high credit for his direct, honest, intelligent administration of the Treasury Department.

In the peculiar embarrassments to the administration of the Government, caused by the course of President Johnson, it was a matter of sincere congratulation that a Secretary of the Treasury, so competent and trustworthy as Mr.McCulloch had approved himself, was firmly in place before the serious political disturbances began--a congratulation in which his most ardent Republican opponents were ready to join, knowing how fatal it might prove if President Johnson had the opportunity to nominate his successor.
Throughout the more difficult period of his administration of the department, Mr.McCulloch was aided by two most intelligent and efficient officers.

Mr.William E.Chandler, though only twenty-nine years of age, was appointed First Assistant Secretary in March, 1865, and exhibited great aptitude, discrimination, and ability in his position.