Recollections of Forty Years in the House, Senate and Cabinet Part 61

VOLUME II.

CHAPTER x.x.xI.

EFFECT OF THE BLAND BILL ON THE COUNTRY.

An Act Pa.s.sed by the House Providing for the Free Coinage of the Silver Dollar--Mr. Ewing Makes an Attack on Resumption--Fear of Capitalists Regarding Our National Credit--Four Per Cents. Sell Below Par--Suspense and Anxiety Continued Throughout the Year--My First Report as Secretary of the Treasury--Recommendations of a Policy to be Pursued "To Strengthen the Public Credit"--Subst.i.tution of $50,000,000 in Silver Coin for Fractional Currency--Silver as a Medium of Circulation--Its Fluctuation in Value--Importance of Gold as a Standard of Value--Changes in the Market Value of Silver Since 1873.

CHAPTER x.x.xII.

ENACTMENT OF THE BLAND-ALLISON SILVER LAW.

Amendments to the Act Reported by the Committee on Finance--Revival of a Letter Written by Me in 1868--Explained in Letter to Justin S. Morrill Ten Years Later--Text of the Bland Silver Bill as Amended by the Senate and Agreed to by the House--Vetoed by President Hayes --Becomes a Law Notwithstanding His Objections--I Decide to Terminate the Existing Contract with the Syndicate--Subscriptions Invited for Four per Cent. Bonds--Preparations for Resumption--Interviews with Committees of Both Houses--Condition of the Bank of England as Compared with the United States Treasury--Mr. Buckner Changes His Views Somewhat.

CHAPTER x.x.xIII.

SALE OF BONDS FOR RESUMPTION PURPOSES.

Arrangements Begun for the Disposal of $50,000,000 for Gold or Bullion--Interviews with Prominent Bankers in New York--Proposition in Behalf of the National Banks--Terms of the Contract Made with the Syndicate--Public Comment at the Close of the Negotiations-- "Gath's" Interview with Me at the Completion of the Sale--Eastern Press Approves the Contract, While the West Was Either Indifferent or Opposed to it--Senate Still Discussing the Expediency of Repealing the Resumption Act--Letter to Senator Ferry--Violent and Bitter Animosity Aroused Against Me--I Am Charged with Corruption--Interview with and Reply to Letter of Peter Cooper--Clarkson N. Potter's Charges.

CHAPTER x.x.xIV.

A SHORT RESPITE FROM OFFICIAL DUTIES.

Visit to Mansfield and Other Points in Ohio--Difficulty of Making a Speech at Toledo--An Attempt to Break up a Meeting that Did Not Succeed--Various Reports of the Gathering--Good Work of the Cincinnati "Enquirer"--Toledo People Wanted "More Money"--Remarks Addressed to the Cincinnati Chamber of Commerce--Visit to Lancaster, the Place of My Birth--My Return to Was.h.i.+ngton--I Begin to Exchange Silver Dollars for United States Notes--My Authority to Do So Before January 1 Questioned--The Order is Withdrawn and Some Criticism Follows--Instructions to the United States Treasurer and Others-- Arrangements with New York Clearing House.

CHAPTER x.x.xV.

INVESTIGATION OF THE NEW YORK CUSTOMHOUSE.

A General Examination of Several Ports Ordered--No Difficulty Except at New York--First Report of the Commission--President Hayes'

Recommendations--Letter of Instructions to Collector C. A. Arthur --Second Report of the Commission--Losses to the Government by Reason of Inefficiency of Employees--Various Measures of Reform Recommended--Four Other Reports Made--The President Decides on the Removal of Arthur, Cornell and Sharpe--Two Letters to R. C. McCormick on the Subject--Arthur et al. Refuse to Resign--The Senate Twice Refuses to Confirm the Men Appointed by the President to Succeed Them--Conkling's Contest Against Civil Service Reform--My Letter to Senator Allison--Final Victory of the President.

CHAPTER x.x.xVI.

PREPARATIONS FOR RESUMPTION OF SPECIE PAYMENTS.

Annual Report to Congress on Dec. 2, 1878--Preparations for Resumption Accompanied with Increased Business and Confidence--Full Explanation of the Powers of the Treasurer Under the Act--How Resumption Was to Be Accomplished--Laws Effecting the Coinage of Gold and Silver --Recommendation to Congress That the Coinage of the Silver Dollar Be Discontinued When the Amount Outstanding Should Exceed $50,000,000 --Funding the Public Debt--United States Notes at Par with Gold-- Instructions to the a.s.sistant Treasurer at New York--Political Situation in Ohio.

CHAPTER x.x.xVII.

REFUNDING THE NATIONAL DEBT.

Over $140,000,000 of Gold Coin and Bullion in the Treasury January 1, 1879--Diversity of Opinion as to the Meaning of Resumption-- Effect of the Act to Advance Public Credit--Funding Redeemable Bonds Into Four per Cents.--Letters to Levi P. Morton and Others-- Six per Cent. Bonds Aggregating $120,000,000 Called During January, 1879--The Sale in London--Charges of Favoritism--Further Enactments to Facilitate the Funding--Difficulty of Making Sales of Four per Cent. Bonds to English Bankers--Large Amounts Taken in the United States--One Subscription of $190,000,000--Rothschild's Odd Claim-- Complimentary Resolution of the New York Chamber of Commerce.

CHAPTER x.x.xVIII.

GENERAL DESIRE TO NOMINATE ME FOR GOVERNOR OF OHIO.

Death of My Brother Charles--The 46th Congress Convened in Special Session--"Mending Fences" at My Home in Mansfield--Efforts to Put Me Forward as a Candidate for the Governors.h.i.+p of Ohio--Letter to Murat Halstead on the Question of the Presidency, etc.--Result of My Letter to John B. Haskin--Reasons of My Refusal of the Nomination for Governor--Invitation from James G. Blaine to Speak in Maine-- My Speech at Portland--Victory of the Republican Party--My Speech at Steubenville, Ohio--Evidences of Prosperity on Every Hand--Visit to Cincinnati and Return to Was.h.i.+ngton--Results in Ohio.

CHAPTER x.x.xIX.

LAST DAYS OF THE HAYES ADMINISTRATION.

Invitation From General Arthur to Speak in New York--Letter to Hon.

John Jay on the Subject--Mr. Evarts' Refined Specimen of Egotism-- An Anecdote of the Hayes Cabinet--Duty of the Government to Protect the Election of All Federal Officers--My Speech in Cooper Inst.i.tute --Offers of Support to Elect Me as a Successor of Senator Thurman --My Replies--Republican Victory in New York--President Hayes'

Message to Congress--My Report as Secretary of the Treasury-- Modification of My Financial Views Since that Time--Bank Notes as Currency--Necessity for Paper Money--Mr. Bayard's Resolution Concerning the Legal Tender Quality of United States Notes--Questions Asked Me by the Finance Committee of the Senate.

CHAPTER XL.

THE PRESIDENTIAL NOMINATION IN 1880.

Talk of Grant for President for a Third Term--His Triumphal Return from a Trip Around the World--The Candidacy of Mr. Blaine and Myself --Many of My Opponents Those Who Disagreed with Me on Financial Questions--Accused of Being a Catholic and of Using Patronage to Aid in My Nomination--My Replies--Delay in Holding the Ohio State Convention--My Interview with Garfield--Resolution of the State Convention in My Favor--National Convention at Chicago, on June 2, 1880--Fatal Move of Nine Ohio Delegates for Blaine--Final Nomination of Garfield--Congratulations--Letter to Governor Foster and to Garfield--Wade Hampton and the "Ku-Klux Klan."

CHAPTER XLI.

MY LAST YEAR IN THE TREASURY DEPARTMENT.

Opening of the 1880 Campaign in Cincinnati--My First Speech Arraigned as "Bitterly Partisan"--Letter from Garfield Regarding the Maine Election--Ohio Thought to Be in Doubt--Many Requests for Speeches --Republican Ticket Elected in Ohio and Indiana--A Strange Warning from Detroit Threatening Garfield with a.s.sa.s.sination--The Latter's Reply--My Doubts About Remaining in the Treasury Department or Making an Effort for the Senate--Letter to Dalzell--Last Annual Report to Congress in December, 1880--Recommendations Regarding Surplus Revenue, Compulsory Coinage of the Silver Dollar, the Tariff, etc.--Bills Acted Upon by Congress.

CHAPTER XLII.

ELECTED TO THE SENATE FOR THE FOURTH TIME.

Blaine Appointed Secretary of State--Withdrawal of Governor Foster as a Senatorial Candidate--I Am Again Elected to My Old Position to Succeed Allen G. Thurman--My Visit to Columbus to Return Thanks to the Legislature--Address to Boston Merchants on Finances--Windom Recommended to Succeed Me as Secretary of the Treasury--Personal Characteristics of Garfield--How He Differed from President Hayes --The Latter's Successful Administration--My One Day out of Office in Over Forty Years--Long Animosity of Don Piatt and His Change of Opinion in 1881--Mahone's Power in the Senate--Windom's Success in the Treasury--The Conkling-Platt Controversy with the President Over New York Appointments.

CHAPTER XLIII.

a.s.sa.s.sINATION OF GARFIELD AND EVENTS FOLLOWING.

I Return to Mansfield for a Brief Period of Rest--Selected as Presiding Officer of the Ohio State Convention--My Address to the Delegates Indorsing Garfield and Governor Foster--Kenyon College Confers on Me the Degree of Doctor of Laws--News of the a.s.sa.s.sination of the President--How He Differed from Blaine--Visit of General Sherman--Reception by Old Soldiers--My Trip to Yellowstone Park-- Speechmaking at Salt Lake City--Visit to Virginia City--Placer Mining in Montana--The Western Hunter Who Was Lost in a "St. Louis Canon"--Sunday in Yellowstone Park--Geysers in the Upper Basin-- Rolling Stones Down the Valley--Return Home--Opening of the Ohio Campaign--Death of Garfield.

CHAPTER XLIV.

BEGINNING OF ARTHUR'S ADMINISTRATION.

Special Session of the Senate Convened by the President--Abuse of Me by Newspapers and Discharged Employees--Charges Concerning Disburs.e.m.e.nt of the Contingent Fund--My Resolution in the Senate-- Secretary Windom's Letter Accompanying the Meline Report--Investigation and Complete Exoneration--Arthur's Message to Congress in December --Joint Resolutions on the Death of Garfield--Blaine's Tribute to His Former Chief--Credit of the United States at "High Water Mark"

--Bill Introduced Providing for the Issuing of Three per Cent.

Bonds--Corporate Existence of National Banks Extended--Bill to Reduce Internal Revenue Taxes--Tax on Playing Cards--Democratic Victory in Ohio.

CHAPTER XLV.

STEPS TOWARDS MUCH NEEDED TARIFF LEGISLATION.

Necessity of Relief from Unnecessary Taxation--Views of the President as Presented to Congress in December, 1882--Views of the Tariff Commission Appointed by the President--Great Changes Made by the Senate--Regret That I Did Not Defeat the Bill--Wherein Many Sections Were Defective or Unjust--Bill to Regulate and Improve the Civil Service--A Mandatory Provision That Should be Added to the Existing Law--Further Talk of Nominating Me for Governor of Ohio--Reasons Why I Could Not Accept--Selected as Chairman of the State Convention --Refusal to Be Nominated--J. B. Foraker Nominated by Acclamation --His Career--Issues of the Campaign--My Trip to Montana--Resuming the Canva.s.s--Hoadley Elected Governor--Retirement of Gen. Sherman.

CHAPTER XLVI.

EFFECT OF THE MARINE NATIONAL BANK AND OTHER FAILURES.

Continued Prosperity of the Nation--Arthur's Report to Congress-- Resolution to Inquire into Election Outrages in Virginia and Mississippi--Reports of the Investigating Committee--Financial Questions Discussed During the Session--Duties and Privileges of Senators--Failure of the Marine National Bank and of Grant and Ward in New York--Followed By a Panic in Which Other Inst.i.tutions Are Wrecked--Timely a.s.sistance from the New York Clearing House--Debate in the Senate on the National Bank System--Dedication of the John Marshall Statue at Was.h.i.+ngton--Defeat of Ingalls' Arrears of Pensions Amendment to Bill to Grant Pensions to Soldiers and Sailors of the Mexican War--The Senate Listens to the Reading of the Declaration of Independence on July 4.

CHAPTER XLVII.

MY PARTIc.i.p.aTION IN THE CAMPAIGN OF 1884.

Again Talked of as a Republican Candidate for the Presidency--I Have No Desire for the Nomination--Blaine the Natural Candidate of the Party--My Belief that Arthur Would be Defeated if Nominated-- Speech at Was.h.i.+ngton, D. C., for Blaine and Logan--Opening of the Ohio Campaign at Ashland--Success of the Republican State Ticket in October--Speeches in Boston, Springfield, Ma.s.s., New York and Brooklyn--Address to Business Men in Faneuil Hall--Success of the National Democratic Ticket--Arthur's Annual Message to Congress-- Secretary McCulloch's Recommendations Concerning the Further Coinage of Silver Dollars--Statement of My Views at This Time--Statue to the Memory of General Lafayette--Controversy Between General Sherman and Jefferson Davis.

CHAPTER XLVIII.

DEDICATION OF THE WAs.h.i.+NGTON MONUMENT.

Resolution of Senator Morrill Providing for Appropriate Dedicatory Ceremonies--I Am Made Chairman of the Commission--Robert C. Winthrop's Letter Stating His Inability to Attend the Exercises--Letters of Regret from General Grant and John G. Whittier--Unfavorable Weather for the Dedication--My Address as Presiding Officer--The President's Acceptance of the Monument for the Nation--Mr. Winthrop's Address Read in the House by John D. Long--Inauguration of the First Democratic President Since Buchanan's Time--Visit to Cincinnati and Address on the Election Frauds--Respects to the Ohio Legislature --A Trip to the West and Southwest--Address on American Independence.

CHAPTER XLIX.

REUNION OF THE "SHERMAN BRIGADE."

Patriotic Address Delivered at Woodstock, Conn., On My Return from the Pacific Coast--Meeting of the Surviving Members of the Sherman Family at Mansfield--We Attend the Reunion of the "Sherman Brigade"

at Odell's Lake--Addresses of General Sherman and Myself to the Old Soldiers and Others Present--Apathy of the Republican Party During the Summer of 1885--Contest Between Foraker and Hoadley for the Governors.h.i.+p--My Speech at Mt. Gilead Denounced as "Bitterly Partisan"--Governor Hoadley Accuses Me of "Waving the b.l.o.o.d.y s.h.i.+rt"

--My Reply at Lebanon--Election of Foraker--Frauds in Cincinnati and Columbus--Speeches Made in Virginia.

CHAPTER L.

ELECTED PRESIDENT PRO TEMPORE OF THE SENATE.

Death of Vice President Hendricks--I Am Chosen to Preside Over the United States Senate--Letter of Congratulation from S. S. c.o.x-- Cleveland's First Annual Message to Congress--His Views on the Tariff and Condition of Our Currency--Secretary Manning's Report-- Garfield's Statue Presented to the Nation by the State of Ohio--I Am Elected a Senator from Ohio for the Fifth Time--I Go to Columbus to Return Thanks to the Legislature for the Honor--Business of this Session of Congress--Attempt to Inquire Into the Methods of Electing Mr. Payne to the Senate from Ohio--My Address on "Grant and the New South"--Address Before the Ohio Society of New York.

CHAPTER LI.

A PERIOD OF POLITICAL SPEECH MAKING.

Organization of the "Sherman Club" at Mansfield, Ohio--My Experiences with Newspaper Reporters--Address at the State Fair in Columbus on Agricultural Implements--Other Speeches Made in the Campaign of that Year--Address at Louisville, Ky.--Courteous Treatment by Henry Watterson, of the "Courier Journal"--Hon. John Q. Smith's Change of Heart--Answering Questions Propounded by Him at a Gathering in Wilmington, Ohio--Success of the Republican Party--Second Session of the 49th Congress--But Little Legislation Accomplished--Death of Senator John A. Logan--Tributes to His Memory--His Strong Characteristics--My Reason for Resigning the Presidency of the Senate--Succeeded by John J. Ingalls.

CHAPTER LII.

VISIT TO CUBA AND THE SOUTHERN STATES.

Departure for Florida and Havana--A Walk Through Jacksonville-- Impressions of the Country--Visit to Cigar Factories and Other Places of Interest--Impressions of Cuba--Experience with Colored Men at a Birmingham Hotel--The Proprietor Refuses to Allow a Delegation to Visit Me in My Rooms--Sudden Change of Quarters-- Journey to Nashville and the Hearty Reception Which Followed--Visit to the Widow of President Polk--My Address to Nashville Citizens-- Comment from the Press That Followed It--An Audience of Workingmen at Cincinnati--Return Home--Trip to Woodbury, Conn., the Home of My Ancestors--Invitation to Speak in the Hall of the House of Representatives at Springfield, Ill.--Again Charged with "Waving the b.l.o.o.d.y s.h.i.+rt."

CHAPTER LIII.

INDORSED FOR PRESIDENT BY THE OHIO STATE CONVENTION.

I Am Talked of as a Presidential Possibility--Public Statement of My Position--Unanimous Resolution Adopted by the State Convention at Toledo on July 28, 1887--Text of the Indors.e.m.e.nt--Trip Across the Country with a Party of Friends--Visit to the Copper and Nickel Mining Regions--Stop at Winnipeg--A Day at Banff--Vast Snowsheds Along the Canadian Pacific Railroad--Meeting with Carter H. Harrison on Puget Sound--Rivalry Between Seattle and Tacoma--Trying to Locate "Mount Tacoma"--Return Home After a Month's Absence--Letter to General Sherman--Visit to the State Fair--I Attend a Soldiers'