Recollections of Forty Years in the House, Senate and Cabinet

Recollections of Forty Years in the House, Senate and Cabinet

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Excerpt: ...value, and that four and a half per cent. bonds had fallen off three-fourths per cent. He said: "If, in any legislation which may be enacted regarding silver, provision could be made not only exempting the debt and interest thereon from payment in silver, but declaring that payment of the same shall be made in gold coin, it would aid us immeasurably in placing our bonds." Two days later I received a letter from F. O. French, of New York, as follows: "Our business people are very much alarmed at the rumored strength of the silver people, and, as they apprehend the gravest disasters from the success of the Bland bill, a committee of gentlemen connected with insurance and trust companies, as well as with the banks, go to Washington to-morrow to present their views to the finance committee. "Once dispatch this silver business-and I have faith that it cannot live in the light of full discussion by the Senate-and we shall renew funding, and by attaining resumption put an end to financial discussions as we did to slavery." And on the following day I wrote to August Belmont & Co.: "Your letter of the 9th instant was received, and also a personal letter from Mr. Belmont. "I am watchful of the course of legislation in Congress and of the current of public sentiment, both in our own and foreign countries, on the silver question. I am not prepared at present to give any assurance as to what will be done in Congress, nor of the action of the executive department. It is better to let the matter stand as it is, awaiting events without any committals whatever. I have faith to believe that all will come our right so far as the public credit is affected, and will write you again when anything definite can be said." On the 29th of November Belmont wrote me a long letter containing the following statements: "I need hardly assure you, at this late day, of my earnest solicitude for the success of the funding and resumption operations, and of my personal more

Product details

  • Paperback | 506 pages
  • 189 x 246 x 26mm | 894g
  • United States
  • English
  • black & white illustrations
  • 1236683196
  • 9781236683199