How to make minecraft 1.7.4 run faster?

I recently downloaded the minecraft game from the site, now it won't run fast. I changed java setting to high. Also how to open the inventory, its not opening up even i press one or E.

1. Make sure you have a decent computer.
2. Make sure you have the Official (paid) Minecraft launcher. (https://minecraft.net/download)
3. Lower your (chunk) render distance.
4. Choose Fast graphics (not fancy).
5. Turn off VSync.
That should reduce some lag.
The default for opening the inventory is E, so go to the options and change to E (or whatever). Or it could be you.

Also you can download Optifine, it's a Minecraft mod that can double your fps. I use it whenever I can.Here's a link to the Minecraft Forum page (NOTE: At the time of this post, Optifine is only updated to 1.6.4, and almost updated to 1.7.4): http://www.minecraftforum.net/...much-more/