Year: 1869

so great a sacrifice; and not only at
\ this time. but In the evening express
ed himself to the same effect to many


members of Congress, who called on
4 him with reference to the Secretary
4 ship. In this way publicity was CIV


en- to Stewards purpose.


The consequence of this has led to
| many expressions of opinion concern
| ing the view that although this would
meet the letter of the statute, it
might possibly be construed into an
evasion of its spirit. Under these
| circumstances Stewart was prepared
for either emergency, and having re-
| flccted upon the matter, he determln
| ed TO leave the question to the result
| of a conference with the President.
In this spirit they met this afternoon,
and the conclusion at which they ar
rived was that it would be less en-
barrassing to the Administration of
| President Grant for Mr.. Stewart to
place in his hands a formal declina-
| tion of office, aud In this manner
avoid any comment by those who con
| sidered that the law must be strictly
| complied with. The interview was
long and was marked by the utmost
cordiality. The following is Mr..
| Stewards letter to the President:
DEAR SIR: Approaching the high
| honor conferred by your nomination
aud the unanimous confirmation by
| the Senate of myself to the Office of
Secretary OF the Treasury, / regret
| that circumstances beyond our con-
troll compel me to decline. Could the
difficulties presented by the provisions
of the act of 1889 which, In organiz-
| ing the Department Of the Treasury
prohibits the Secretary Of the Treas
ury from being directly or Indirectly
concerned or interested in carrying
on the business of trade or commerce,
be overcome by any reasonable sacri-
I fee personal TO myself, would will
ingly make it. L would promptly
transfer to the hands of gentle
men in whom the public have
full confidence every interest in the
gain and profits that could possibly
accrue to myself in the business of
nay house during my official term, to
be applied to such public charities as
their judgments should dictate, and
sought by the execution of appropri-
ate instruments to accomplish that
end; but so much differences Of opin-
ion have been expressed as to wheth-
er that course would satisfy the re-
quirements of the law. Although |
will not hesitate to make this appro-
priatiOn provided il would enable me
to accept the office, and thus unite
my efforts with your own and other
members of your Cabinet In restoring
economy and strict frugality in the
administration of the Govern
ment, and lift as rapidly as
practicable from the people the great
burdens of taxation and debt extrava-
gance, vet the business relations of
my firm is, in its connection with 9TH
ers, largely interested in their con-
tinuance, and as such they cannot
be severed summarily, nor can my in
terest in it be wholly and absolutely
disposed of without producing great
embarrassment and loss to those with
whom | have been connected. / can
not consent to enter upon the admin
istration of the laws by any act or
course that can be construed in the
line of a disregard or violation of
the laws; and while, therefore, l re-
gret that the plan proposed is deemed
Inadequate to relieve me from the
legal, and it seems TO me technical,
disabilities, / yield to the better
judgment of others rather than
seem to be inclined to accept
position in disrespect of law.
In finally renewing the declInation
which was rendered at the outset of
these objections, | repeat to you,
Mr.. President, my thanks for the
honor done me in offering me this
high position, and assure you that
you will have my earnest efforts to
sustain your Administration in carry
ing out the wise and salutary measures
indicated by you on entering upon
your office.


Sincerely and truly your friend,
A. Il. STEWART.
The President accepted the declina-
ton, and thus the office becomes va
cant.


1t may be stated that from the very
beginning the President and Stewart
we're In daily intercourse, consulting
upon the means by which the latter
could free himself from the disability
| Of the law. 1t Is said that no legal
| gentleman who has been spoken TO
/ upon the subject expressed the Opin-
ION that it would be a violation Of the
terms OF the act in Mr. Stewart'S ac-
cepting the Office, after having made


the transfer, but that many others


thought 1t might be considered dis


advantageous to have the spirit OF the


law in the slightest degree invaded.


This view eventually controlled Mr..


Stewart; and In order to remove OBJ
iectiOns, he declined.


Ever since there have been doubts
about Stewards taking possession
of the Treasury Department, tele
grams from leading merchants have


been received. urging him in the


strongest terms to make any sacrifice,


even to abandoning at once all inter


est in his business, 10 retain the Office,


and advising him under no circum-


stances to decline. Some of the lead
ing members of the two Houses


expressed similar views. At the low


est estimate, by means of Stewart 5


proposed plan, S6,000,0 900 would have


been given to charities in New York


within his four years official term.


Mr.. Stewart will return to New York
to. morrow, before which be will have


an interview with the President.