The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-03-10

public have full confidence every interest in the
gains and profits that could possibly accrue to my
self in the business of my house during my official
term to be applied 10 such public charities as their
Judgment should dictate, and have proposed and
ments, to- accomplish that end; but serious differ
ences of opinion have been expressed as to whether
that course would satisfy the requirements of the
law. Although I will not hesitate to make this
appropriation provided 1t would enable me TO ac-
cept the Office and thus unite my efforts with your
own and those of the other members of your Cabi-
net in restoring economy, honesty and strict fru-
gaity in the administration of the government, and
lift as rapidly possible from the people the great
burdens of taxation, debt and extravaganza resting
upon them, yet the business relations of my firm
in its connections with others largely interested in
their continuance are such that they cannot be
severed summarly, nor can my interest be wholly
and absolutely disposed of without producing great
embarrassment and loss to others with whom have
been connected. L cannot consent to enter upon
the administration of laws by any act or course
that can be construed into disregard or violation
of law; and while, therefore, regret that the plan
proposed is deemed inadequate to relieve me from
the legal, and, as its seems to me, technical disa
billties. yield to the better Judgment of Others
rather than seem to be willing to accept position
clnation which was rendered at the outset Of these
objections, l repeat to you, Mr.. President, my
POSITION, and assure you that you will have my ear
nest EFFORTS to sustain your administration in car
rying out the wise and salutary measures indicated
by you in entering upon your office.
Sincerely your friend,
The President accepted the declinatlon, and
thus the Office of Secretary of the Treasury became
vacant. 1t may be stated that from the beginning
the President and Mr.. Stewart were in daily inter-
course, consulting as to the means by which the
latter could free himself from the disability of the
law. 1t Is said that no legal gentleman who had
been spoken to upon the subject expressed any
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 disad-
vantageous to have the 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 appointment.
Ever since there have been doubts about Mr..
Stewart taking possession of the Treasury Depart
ment, kilograms from leading merchants have been
received, urging him In the strongest terms to
make any sacrifice, even to the extent of abandon
ing at once all interest in his bushes to retain the
office, and advising him under no circumstances to
decline it, Some of the leading members of the
two Houses expressed to him similar views. The
lowest estimate Is that by the means proposed by
Mr.. Stewart, at least 900 would have been
given to charities in New York within his four
years official term.
Mr.. Stewart will return to New York Tomorrow
before which he will have an interview with the
President.