Year: 1868

more or less lively, that has gone on
in Congress these many years, cover
ing one part of the wall there was an
ample collection Of the great story OF
the war on another part, and between
these and the window, looking out to
the orchard in which the apples grew
for the fine, clear cider, and beyond
the orchard into the valley quietly
hushed with the snow, and beyond
valley 60 the rich eXpanse Of agricul-
tural country stretching toward the
Ohio river.


John Sherman was there qefOre me,
the effect ofhis tall figure relinquished
for the nonce in the lOunging ease
with which he lay in his great chair,
but his face making him a man that
any one would know by its striking
resemblance to the familiar pictures OF
the great soldier, his brother. The
beautiful blue-eyed baby played about
the floor with the dainty vivacity OF
baby fun, keeping aeertain chrOnicler
in mortal fear for its little head against
the sharp corners ofthe big books that
lay loose-learning is so hard and baby
heads are so tender-and coming in
through the open door from an even
quieteT part of the home was the gen
tie maternal voice, calling the baby to
other delights.


Altogether it was a scene of such do
mestic purity and quiet as people do
not associate with the life of a public
man, but which should be accepted
as indicating the moral tone and sim
plieity Ofcharacter in one man holding
high place in national councils.


"Sir," John Sherman, 81 have no
opinions on public matters that you
may not print no reasons to be reti-
cent. At the same time there is nOth-
ing that at this moment / especially
wish to communicate, If you will in
dicate any points on which you wish
my thoughts 1 will give them."


"Well," I said, lit is part of the
story to know what you would touch.
In getting at the mind Of the country
it is first of all important to know to
what subjects leading minds attach
Importance. If all men went to Wash
ington with their heads full of recon
stFuctiOn, the country might again be
torn on the rack of extreme legisla-
ton; while if they went regarding re-
construction as now of less cOnse-
quence than some other topic it would
be very different. Perhaps can ask
you no question more to the purpose
than the one that thus comes up
what subject in our present eircum-
stances do you regard as most impera-
lively requiring the national atten-
ton 81


mot reconstruction. That is settled
bV the election of Grant, which secures
the honest, firm, but kind enforcement
of existing laws. The laws already
made are enough. They cover all the
points sufficiently. The necessity was
that they should be carried out in their
proper spirit and not administered by
an Executive intent on defeating the
purpose T which they were made. 1t
was the national will that there should
be no more chaffering over the laws,
but that they should be put in force.
Grants election was an expression of
this will, and secures the desired re-
suit. In any further discussion of re-
construction, [ would myself favor the
utmost liberality toward the South,
would relieve it of all forms of disabil-
ity, provided only, it gives protection
to the people within its limits; but if
murder for political opinion is to go on
as it has, if the spirit of disaffection to
laws properly made is to prevail there,
the only safety is in the other course.
But as have said, the subject is not
likely to be brought up. Grants cleo
ton is a resting place."


"And in the state of the nation, as
viewed from this resting place, some
other subject is of more importance 2"


81 think so; but the particular sub
ject to which any man would attach
Importance would be determined by
the peculiar direction of his studies. /
regard the national finances as most
important of all"


THE FINANCES-SPECIE PAYMENT.


"And you favor the speediest pos
sible return to specie payment?"


with certain qualifications and re-
strictiOns would answer yes. Specie
payment is the thought Of all others
in our financial feature. By this I do
not mean that we should rush heed
lessly toward it, without regard to the
cost, for such a cOuse would precipi-
tate upon the country greater evils
than any it suffers from paper money.
[ mean that specie payment should be
the first objective point of all financial
maneyres-tO beapproached with due
consideration Ofthe means and ofevery
step taken, bnt still to be held in view,
with deliberate persistency, for this
reason-that once to reach it-Once to
occupy that grounds to solve all our
financial prOblems-the currency, the
bank system and the debt. All that
we can do with these in the meantime
is to palliate the evils they cause; for
our financial difficulties are not due to
material poverty nor to defective sys-
tenn, but to the fact that we have pa
per where it was expected when the
laws were made that we would by this
time have gold"


"How would you restore specie pay
ments?"


"Not by contraction. It can be done
in that way; but to do it would be to
ruin the debtor class, to arrest the
hand of enterprise and to destroy any
party that tried it. Resumption must
be reached by quite other ways. They
are mainly these: We must satisfy
the people that in no events viii there
be any Increase in the currency, This
will be the first step in the appreeia-
ton of the paper, and will accomplish
all that an increase in the currency
could do, because it Will increase its
representative value. If we make
greenbacks worth ten cents more on
a dollar it has the same effect on the
money market as if we added a tenth
to the volume of the currency. Next
we must adopt every other means Of
giving to the outstanding currency a
higher value. Thus, if the gold re-
ceipts of the Government are in excess
of the gold interest il has to pay there
must be no accumulatiOns and subse-
quent speculative. Treasury sales; but
instead of this the Government must
receive a portion Of the customs in
currency. Beside this we must allow
the notes to be converted into bonds
say the ten-forty bonds. The green
back is the nations note already due.
The bond is the nations note not vet
due. It is not quite fair dealing for q
Government to let its note that is ae-
tually due fall in value below its note
not due, The only excuse that could
be made is present inability to pay the
note that is past due, and the nation on
the individual in this position must
simply ask an eXtensiOn-that is. it
must give for the note actually due