The Washington herald., 1914-05-19
HISTORY BUILDERS
Why salmon P. chass Reiped from
he Ireasury.

Why Salmon P. chass Reaped from
the Treasury.
written exprsssiy for rhs Hsraid)
Sy DR. =. ). EDWARDs.
One summer afternoon In 1850. spent
an hour or two with the late Thomas c.
Acton on the veranda Of his country
place near the mouth Of the Connecticut
River. From that point there was q
beautiful vista Of Long Island sound and
OF the purple hills Of Long Island itself.
fifteen miles distant. Mr.. Acton. IN lses.
gained q national reputation, for he was
the superintendent Of the New York City
police force at the time OF the draft
riots and succeeded In ct last quelling the
disturbance.
Through the influence of Gov. Z. d.
Morgan. who was the chairman of the
Republican National Committee in 1850.
which carried on the campaign for the
election OF Abraham Lincoln, who ap-
pointed Mr.. Acton superintendent OF the
New. York police force, Mr.. Acton be.
came the manager Of the United States
assay ONCE of New York. and q few
years later was appointed Assistant
6S
of the subtreasury at New York. In
this way. Mr.. Acton became familiar
with the achievements and character of
some of his predecessors. and particu-
larly John J. Cisco.
I asked Mr.. Acton to tell me something
about Mr.. Cisco. saying that his name
was a very familiar one at the time of
the civil war, and that recalled the
Identification Of Mr.. Cisco with the nota-
tion of large amounts Of government
bonds.
''C:sco was a very able man." Mr.. Ac-
ton replied. He was too able a man for
the government to employ In such ill-paid
service as that OF subtreas surer of the
United States at New York. That is as
responsible q financial post as is any to
be found anywhere in the world. The
bond exacted from the subtreasurer Is
enormous. and yet for many years he
was paid only 5000 a year
Il have good reason for knowing that
1t was Mr.. Cisco's determination to re-
tire from the office of subtreasurer at
New York. which led to a complication
Of circumstances that resulted In the
resignation of Salmon p. Chase as Secre-
tary of the Treasury. Some OF the facts
obtained from Mr.. Cisco himself.
Cisco was very ANXIOUS to get out Of
the subtreasury, for he saw abundant
opportunity for making large amounts
Of money in a highly honorable way. and
In the service Of the United States. prin-
cipally in the fotation of government
bonds.
and Secretary Chase imme-
diately asked for the appointment of as
charming a man as ever lived. Maunsell
b. Field, as subtreasurer At New York
1T wasn't a fortunate choice. Field
did not possess the qualifications for thet
very responsible service. He had held a
place in the Treasury Department under
Mr.. Chase at Washington. but his duties
there were chiefly perfunctory.
Mr.. Cisco and others Thought that
Chase had been Influenced by
the personal charm and very high culti-
vation of Mr.. Field. He was a man of
fine literary a.tainments, and, 1 believe.
wrote several books. / never shall for
get seeing him at the opera in New York
one evening. although that was long
after the resignation Of Secretary Chase.
He stood up to take OF his overcoat. The
opera house was packed with the wealth
md culture Of New York. and to almost
all the leaders of society Mr.. Field was
well known. In stripping of his over
coat, his dress coat went with II. and
here he stood before that great and bril-
liant audience for moment or two in
his shirt sleeves. But il was with infinite
grace and without any embarrassment
that he. extricated himself from this pre-
iicament.
well. to 60 on with my story. Presi-
ient Lincoln would not listen to the ap-
pointment of Mr.. Field as Assistant
Treasurer OF the United States In charge
II the subtreasury at New York. He
put his foot down firmly. Secretary
Chase was greatly annoyed at the -e-
fusal Of Lincoln to appoint Mr.. Field.
and On the impulse of the moment sent In
mis- resignation. Lincoln instantly ac-
,epted IL. and offered the piece to Gov.
rod. OF Ohio. He declined II. Then he
offered II to Senator William Pitt Fcs-
senden of Maine. who accepted II. Mr..
Cisco told me that Secretary Chase was
greatly annoyed that President Lincoln
lad so speedily accepted his resignation.
nor was he comforted until Lincoln nom-
mated him as Chief Justice of the United
States Supreme Court
asked Mr.. Acton how the matter vas
inally settled.
II am glad you asked me that he
'aid. Mr.. Cisco was persuaded to with
raw his resignation. with the under
that he should not be called
Ipon to serve longer than one year more
He afterward became one of the leading
private bankers of the United States
Copyright, 1884, By 1T. p. J; Edwards All rights
rcssrEed)
Tomorrow DR.. Edwards will tell of
Party"