New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-03-10

New-Yorll in connection with other legal gentle
men. Upon the execution of the document it was
delivered in the presence of Judge Davis, who wit
messed it, After this was done Mr. Stewart and
Judge Hilton, by appointment, visited President
Grant, at the Executive Mansion, this afternoon
When the transfer was proposed yesterday by Mr.
Stewart President Grant approx ed of it, provided it
could be done to meet the legal objections and ex
pressed his high appreciation of Mr.. Stewards pur-
pose, but at the same time he said he felt scarcely
warranted in doing so, because Mr.. stewart WouIu
have to make so great sacrifice And not only at
this time, but in the evening ne expressed
himself to the same effect to many members OF Con-
gress who called upon him with reference to the
Secretaryship. In this way publicity was given to
Mr. Stewards purpose The consequence of this has
led to many expressions of opinion, concurring in
the view that although this would meet the letter of
the statute it might possibly be construed into an
evasion of its spirit Under these circumstances Mr.
Stewart was prepared for either emergency and hav-
ing reflected upon the matter he determined to leave
the question to the result of conference with the
President.
MR.. STEWART DECLINES.
In this spirit they met this afternoon, and the
conclusion at which they arrived that it
would be less embarrassing to the administration of
President Grant for Mr. Stewart to place in his hands
formal decnatOn Of the Secretaryship and in this
way avoid any comment by those who considered the
law must be strictly complied with. The interview
was long and marked by the utmost cordiality.
The following Is Mr.. Stewards letter:
WASHINGTON, D. c. March Q, 1862
10 he President.
SIR; Approaching the high honor conferred by your
nomination and the unanimous confirmation by the SEN
ate Of myself to the Office OF Secretary OF tho Treasury
regret that circumstances beyond our control compel
tI,o
provisions Of the act OF 1882 which in organizing tho De-
partment of the Treasury prohibit the Secretary from
being directly indirectly concerned interested in
carrying tho business Of trade commerce. be over
come by any reasonable sacrifice personal to myself,
would willingly make it. would promptly transfer TO
the hands OF gentlemen in whom the public have full con-
hdence every interest in the gains and profits that could
possibly occur TO myself in tho business Of my house
during my official term, to be applied TO such public
charities as their judgments should dictate, and have
proposed and sought by the execution Of appropriate
Instruments 10 accomplish that end. But differ
OF opinion have been expressed TO whether that
course would satisfy the requirements OF tho law.
Although will not hesitate to maketthis appropriation,
provided il would enable 20 accept the Office, and
thus Huite my efforts with your and those OF other
members OF your Cabinet restoring economy honesty,
and strict frugay in the administration OF the Govern
ment, and lift rapidly as practicable from the people
the great burden Of taxation debt and extravaganza rest
ing upon them yet the business relations Of my firm in its
connections with others largely interested in their
tinuance, such that they cannot be severed sum-
mary. nor my interest in 1t DO wholly and abso-
lutey disposed of without producing great embarrass
ment and loss to those with whom 1 have been con-
neeted cannot consent TO enter upon the admnistra
ton Of laws by any that may be construed
INTO disregard or violation OF law and while, there
fore regret that the plan proposed is deemed made
ouae to relieve me from legal and, Il seems 20
T.-t.1 q, 4la haiti fng
Others rather than to be willing to accept posi-
ton in dlsrespect Of law.
In finally renewing the decnation which was rendered
at the outset OF these objections repeat 10 you, Mr.
President my thanks for the honor done me IN Offering
this high position and assure you that you will have
earnest efforts sustain your administration carrying
the and sautary measures indicated by you on
entering upon your Office Sincerely your friend
ALEX. 7. STEWART.
It may be stated that from the very beginning,
the President and Mr.. Stewart were in daily
intercourse consulting as to the by which the
latter could free himself from the disability Of the
law 1t is said that no legal gentlemen who had
been spoken to upon the subject expressed an opinion
that there would be violation Of the terms Of the
act in Mr. Stewards accepting the Office after having
made the transfer but that many others thought it
might be considered disadvantageous to have tho
spirit of the law in the slightest degree invaded.
This view eventually controlled Mr. Stewart and, in
order to remove all objections he declined the APP
pointment
Ever since there have been doubts about
Mr. Stewards taking possession Of the Treasury De-
partment, kilograms from leading merchants have
been received urging him in the strongest terms to
make any sacrifce-even to the extent Of abandon
ing at once all interests in his businessto retain the
office, and advising him under no circumstances to
decline 1t. Some Of the leading members Of the
two houses expressed to him similar views At tho
lowest estimate. by tho Mr.. Stewart proposed,
at least 100000 would have been given to charities
in New-York within the four years official term. Mr..
Stewart will return to New-York tomorrow, before
which he will have an interview with President
Grant
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