New-York tribune., 1873-05-10
A CHAPTER OF WAR HISTORY.

Mr.. CHAsEs GRATITUDE TO MR.. HooPER-THE MA
TIoXAL BANKING LAW AND IT'S FINAL TRIUMPH
To the Edftor OF the Tribune.
SIR: When 1 was preparing sketch of the
Hon. Samuel Hooper for History OF Congress-" the
ChiefJustice was kind enough write long letter de-
failing the connection of the distinguished Boston Rep
resentave with the early financial operations of the
Government In that letter. the great exSecretary Of
the Treasury gives incidentally some autobiography
details Of his abors and struggles which perhaps
nowhere else to be found The following extracts from
the letter will be read with interest:
1 do not now reeollect when personal acduant
ance commenced but it was think not long before the
eth Ap 1861 then advertised for proposals for loan
9O IN money conn in exchange FOR treasury
notes The proposals were 10 be Oehed nVe DAYS IeI-
ward on the llth. This was time OF great anxiety
and depression. Before the day FOR opening the pro.
posas arrived the expeditions for the reinforcement OF
pckens and the prOyslOnment OF sumter had already
sailed and that day. the correspondence between
Beauregard, commanding the Rebels, and Anderson,
commanding the fort going IN reference TO the
surrender OF Sumter The next day the Rebel batteries
No time could be more unpropidous TO the negotiation
OF a loan Yet the advertisement could not be with
drawn without serious injury TO The public credit and
fafTe obtain the amount advertised Tor would have
had perhaps, at that particular Junc'ure sui worse
Mr. Hooper happened to be in Washington, and was
subscriber for 100000 On opening the proposals found
that the oos fell short OF the amount required 10y ABOUT
a million OF cellars. i sent for Mr.. Hooper, then per-
sOnay almost a stranger TO me, aud asked HIM to take
that sum in addition 10 What nc hiu DeIOIe
assuring him that he should be protected IRON loss IN
in Boston He complied with my request without hesF
taOn and disposed OF the whole amount without any
aid the Treasury His readiness to como to tue
aid OF the Government at the critical moment and the
personal confidence he showed in me- made an impress
sion my mind which cannot be oDiterated Tie SUM
does not now seem large ou IL was aIs en an1 @ to
responsibility was assumed when most men would nave
shrunk from il.
Very few months had passed, after took charge OF
the department before became fully satisfied that the
in peace well IN war; demanded complete revOlu
ton In by the substitution OF notes uniform 10
vain
the nation, for notes varying in both respects issued
under State authority, aud suggested to different
financial gentleman the plan of national banking syS
The suggestion was not received with fa'oT' OF
anything like favor
ure both to the successful management OF the finances
during the and TO the prevention OF disastrous con
yusiOns return OF peace strong that de-
teImned to bring tie subject to the attention Vi Con
In my report on the finances submitted on the 9th of
December, 1861 therefore recommended the adoption
of "A national banking system, upon principles aud
der restrictions explained partly IN tine report and more
fully In the bill drawn up under NY direction, ana
either sent 10 the Committee OF WAYS aud Means,
handed TO OF It's memDers-perhaps 10 Mr. Hooper
himself. However the bill may have gone 10 the Com
mittec / am not mstaken think in lying that Mr.
Hooper the only member who gave q my support
pretty tnat the only iaVOr SHOWN II ny the
Committee was a permission to MI Hooper 10 report 1t
without recommendation, on his own responsibility He
took that responsibility, and the bll Wts reported hhd
printed. No action was asked upon D. at That session
III action had been asked It IL not imp ODduiu nat &c
would have been rejected, with very tCw dissenting
banks reluctant were they to accept The now meas
ure and 80 strong was the general sentiment oi the
members of Congress against II.
Before the next session strong public opinion In
favor uniform currency for the whole country, aud
of tho national banking system, means oi accom-
Dlislug that object, mad developed itself, aud MI.
oop.r found himself able 10 carry tue measure through
~ ,isc Of Repr.sentatiyes il sun encountered a
formdblc opposition IN the seuate, aud well remen-
her me personal appeals was OBLIGED 10 make To Scu-
otors had already Representatives, IN order to
o,ergome their objections.
Tbe bin found powerful and tudciOus friend III Mr..
ciarnuu and at length passed by clear vote. IL was
,ttnroVCd by Mr. Lincoln, VINO mad steadily supported
A. irpu the beginning, tne 25-h OF February, ISIS.
The results Of the lGfdsptc during The War iul-
AI,d md since the have jubtned tho expectations
4 f,rined IL received valuable amendments IN both
iss of Cngress before ls enactment, aud has since
been further amended, and s, I1A, sun Capable VI