Evening journal., 1915-06-04
New News Of Yesterday
Some Nineteenth Century
Financial DoingS
By Holland.

James A. Scryrser is one OF the
few men who we're associated with
very great affairs in the last half of
the past century who we're faithful
to a promise made TO themselves to
write and publish accounts of events
of great national Importance with
which they we're associated. Some
men who could have told not only in
teresting narratives, but also those
which would have been of historic
importance, proscrastinated and died
without writing and publishing per-
sonal memoirs. The late General
Eckert. long president of the Western
Union Telegraph Company, from time
to time undertook 10 set down for
preservation many of the incidents
in the history of the telegraph. and
especially in civil war days. of which
he had knowledge. but he proscrastin-
ated. The late George S. Coe. who
had intimate knowledge of much Of
the financing wiick was performed by
Lincoln's Secretary OF the Treasury,
Salmon p. Chase, was always talking
about writing his "reminiscences of
those important days. but he put il off
TOO long. so that with his death in
formation which would have been of
value to future generations was lost.
On the other hand, General Gren-
Vile M. Dodge. the final survivor of
those who we're corps commanders in
the civil war and who constructed the
Union Pacific Railroad. has fulfilled
a promise made to himself and others.
although his recollections are printed
for private circulation only lie
Grand b. Cannon. a man of great in
huence at the time OF the civil war;
wrote and caused to be published
for private circulation his recollec-
tions of many interesting events of
civil war days. James A. Scrymser
has recently contributed for private
circulation volume of recollections
which are not only of interest at the
present time. but also will be valuable
to the historians who write, by and
by. the history of the United States in
the last half of the nineteenth CEN
tury.
One of Mr.. Scrymser's anecdotes
contains the first authoritative state
ment by the late J. r. Morgan of the
conversation which took place be-
tween him and President Cleveland
just before Mr. Morgan delivered to
the Federal Treasury some sixty mil
lion in gold and pledged himself TO
keep that gold in the Federal Treas
ury.
There had been many and varied
accounts OF this incident. Both Mr..
Morgan and President Cleveland we're
severely criticised for this transac-
tiOn. Neither ever made public COM
plant of the criticism. although after
Cleveland retired from the Presidency
he occasionally spoke Of IL as unjust
because IL was unfounded.
MIR. Scrymscr says that Mr.. Morgan
told him that when he first called at
the White House to see President
Cleveland the President received him
civilly. but very coldly. He told the
President that unless something we're
done to stop the drain of gold from
the Federal Treasury a very danger
Gus panic was certain to come.
Mr. Morgan told Cleveland that il
would be good plan to get the ad-
vice of Richard Olney, then Secre-
tary of State. MIR. Olney went to the
White House and he told the Presi-
dent that there was in law authority
for the President to buy gold. There
upon, Mr.. Morgan said that he had
not come to urge the President to sell
bonds. but instead had come to offer
TO sell to the government as much as
one hundred millions in gold. Upon
Mr.. Olney's statement OF what was
the law. the President accepted the
offer.
The late Frederick d. Tappsn. in
1900. said to me: THE only time
when ]. p Morgan had his back 10
the wall fighting was in the six