The San Francisco call., 1895-11-17
The Ohio Statesman Tells How He Lost the
Presidential Nomination in 1888. He
:" Says a Corrupt Bargain Was Made
- Which Transferred the Vote
of New York to Gen.
eral Harrison.

first large issue of notes. As late as 1876
and 1877 tourists from the East arriving
in San Francisco would not get more than
$16 or S17 in gold and silver for $50 green
back. Let Us resume specie payment,
was the cry OF the country. The agitat ion
began shortly after the war closed. Some
prophets said resumption could not take
place in fifty years For many years
Horace Greeley hammered away in the
New York Tribune. declaring that 'the
way to resume was to resume"
John Sherman had unbounded faith in
the intelligence OF the American people,
as well as confidence in the resources of
the country. He did resume. For the
achievement of resumption, accom- plished
during his administration of the treasury,
history will link his name with that OF
Alexander Hamilton.
The subsequent enactment of the Bland
Allison silver law is referred to at great
length in the succeeding chapter. Allison
amended the Bland bill in the Senate, but
the President vetoed it. The bill became
law despite the Presidents objections
In his book Sherman says: II did not
agree with the President in his veto of the
bill, for the radical changes made in its
terms in the Senate had greatly changed
its effects and tenor. He hon
estly believed that it would greatly dis
turb the public credit to make legal ten
der for ali amounts, of q dollar, the
bullion in which was not of equal com
mercial value to the gold dollar"
Several pages of the book are devoted to
review OF the New York Custom house
management and the appointments which
provoked the clash between Hayes and
COnkling. In October, 1877 the President
sent to the Senate the nominations of
Theodore Roosevelt to succeed Arthur as
Collector. Edwin A. Merritt to succeed
George a. Sharpe as Surveyor, and l.. B.
Prince to succeed A. B. Cornell as Naval
Officer. All of these were rejected by the
Senate. OF Conkling's conduct Sherman
says:
mo doubt the Democratic majority in
the Senate might defend themselves with
political reasons, but the motive of Mr..
Conkling was hostility to President HAYES
and his Unborn desire to domineer. The
chief embarrassment fell upon me. I
wished to execute the reforms needed in
the Collectors office, but could not do it
without his consent. The cooperation re-
quired was not given and the office was
held in pronounced contempt of the Presi-
dent"
In 1879 when names again went to the
Senate, Sherman had made up his mind to
resign if the nominations were not con-
firmed. He wrote a letter to Allison, of
which the following is an extract: "Surelv
y
your convictions, should put q stop to this
foolish and unnecessary warfare. Three
or four men who will tell ConKling souarelv
that while you are his friends, you will not
injure our party and our cause, would put
q stop to this business. Arthur will not go
back into the office. The contest will lie
continued, and the only result OF all this
foolish madness will be to compel a Re-
publican administration to appeal to
Democratic Senate for confirmation of
Collector in New York. 1t is most fatal
mistake
Despite the vigorous effort of Conkling to
defeat the nominations confirmation was
secured. Later on, as all know, Conkling
got even by having Arthur nominated for
Vice President. The Garfield tragedy ulti-
mately brought Arthur to the White
House. In subsequent pages Sherman
reviews this ascendency.
Running through all this narrative is the
thread of resumption. The steady ad-
vance to permanent specie basis is noted
at length Obviously Sherman regards
this achievement with profound satisfac-
ton. He quotes many of the predictions
OF failure. He mentions the alleged offer
of Mr. Tappan, New York bank presi-
dent to pay $50, 900 to stand at the head of
the line when the Government began to
pay out gold; and the assertion that he
could put in 100000 United States
bonds, held by the New York banks, break
the Government and take out all the
gold.
On the LIST of January, when the resump-
ton act went into effect, the aggregate
amount of gold coin and bullion in the
treasury exceeded $140,000,000. United
States notes when presented were re-
deemed in gold coin, but instead of the
notes being presented for redemption,
gold coin in exchange for them was de-
posted. thus increasing the gold in the
treasury.
In 1878 an Ohio man wrote to Sherman