 As Hayes prepared to leave office, several delegations of reform-minded Republicans urged him to run against the incumbent Republican, John Sherman, for United States Senate. Hayes declined the offers, preferring to preserve party unity and retire to private life. Hayes especially looked forward to spending time with his children, two of whom (daughter Fanny and son Scott) had been born in the past five years. Initially, Hayes tried to promote railway extensions to his hometown, Fremont. He also managed some real estate he had acquired in Duluth, Minnesota. Not entirely removed from politics, Hayes held out some hope of a cabinet appointment, but was disappointed to receive only an appointment as assistant U.S. treasurer at Cincinnati, which he turned down. He agreed to be nominated for his old House seat in 1872 but was not disappointed when he lost the election to Henry B. Banning, a fellow Kenyon College alumnus. In 1873, Lucy gave birth to another son, Manning Force Hayes. That same year, the Panic of 1873 hurt business prospects across the nation, including Hayes's. Sardis Birchard died that year and the Hayes family moved into Spiegel Grove, the grand house Birchard had built with them in mind.
