Chase

Chase, SALMON PORTLAND, American statesman, born at Cornish, New Hampshire, 13th January 1808, in 1830 settled as a lawyer in Cincinnati, where he acted as counsel for the defence of numerous fugitive slaves. An uncompromising opponent of slavery, his political course was for many years guided by the attitude of the two great parties towards this question. In 1841, foreseeing as little assistance from the Whigs as from the Democrats, he was largely instrumental in founding the Liberty party, which in 1844 brought about Clay's defeat. Chase was returned to the United States senate in 1849 by the Ohio Democrats, but separated from the party in 1852 when it committed itself to slavery. He was twice elected governor of Ohio by the Republicans (1855-59), and in 1861-64 was secretary of the treasury. His management of the country's finances during these trying years has met with nothing but praise: taking office at a time when public credit was low, and the revenue barely adequate for the needs of the government in time of peace, he secured loans on reasonable terms, issued treasury notes ('greenbacks') bearing no interest, and obtained the establishment of national banks. In 1864 he was appointed by Lincoln chief-justice of the United States, in which capacity he presided at the trial of President Johnson (1868). Unsuccessful efforts were made to secure for Chase the Republican presidential nomination in 1860 and 1864, and the Democratic nomination in 1868. He died at New York, 7th May 1873. See his Life by J. W. Schuckers (1874).