Autobiography of Seventy Years, Vol. 1-2Hoar, George Frisbie
History
Autobiography of Seventy Years, Vol. 1-2
Hoar, George Frisbie
United States -- History -- 1865-1921; United States -- Politics and government -- 1865-1900
came to an agreement, and adjourned without day soon afterward.
One of the most important acts of President Grant's Administration
was his veto of the Inflation Bill, which provided for a considerable
increase of the large volume of legal tender paper money,
which at that time was not redeemed by the government. This
veto is regarded by most persons as the turning of the corner
by the American people, and setting the face of the Government
toward specie payment and honest money. It was during the
hard times that followed the crisis of 1873. It is said that
President Grant had made up his mind to sign the bill, and
sat down to write out his reasons, but that he found them
so unsatisfactory that he changed his mind and sent in his
veto message. I had not been disposed to believe this until
I was told, a little while ago, by Secretary Boutwell that
he had the statement that that was the fact from the lips
of Grant himself. If that be true, the President must have
changed his mind twice. When the bill was pending in the
House of Representatives, my wife's father, a very simple-
hearted and excellent merchant of Worcester, who spent seventy
years of life in business on the same spot, visited us in
Washington. I took him up to see Grant. The General was
alone and, contrary to his usual custom, in a very talkative
mood. He seemed to like Mr. Miller, who had a huge respect
for him, and evidently saw that we were not there for any
office-seeking or other personal end. He talked with great
freedom about himself and his visit to Worcester. He expressed
his wonder that the town had grown and prospered so without
any advantage of river or harbor or water power, or the neighborhood
of rich mines or rich wheat-fields. He then asked me how
the bill for an increased issue of green-backs was coming
on in the House. I told him it seemed likely to pass. He
then went on to express very earnestly his objection to the
measure and to the whole policy, and his dislike of irredeemable
paper. He said that it was an immense injury to all classes
of the people, but that it bore heavily upon poor and ignorant
men. He said that speculators and bankers and brokers could
foresee the changes which came about from the fluctuations
of paper money and protect themselves from them, but the workingmen
and poor men had no such advantages--that they were the greatest
sufferers. He added a suggestion I never heard before, that
there was in many parts of the country great loss from the
counterfeiting of paper money--a loss which fell almost wholly
upon poor and ignorant men. I never in my life heard Grant
talk so freely on any occasion. I never in my life, but once,
saw him apparently so deeply moved. I said: "Mr. President,
you know the story of old Judge Grier and the Pennsylvania
jury." "No," said he. "Well," said I, "there was once a
jury in Pennsylvania, when Grier was holding court, who brought
in a very unjust verdict. The judge said: 'Mr. Clerk, record
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