that that was impracticable, and the result was the withdrawal of Mr. Stewart's name and the appointment of Mr. Boutwell a day or two afterward. I have had some serious difficulties with Mr. Boutwell since he left the Democratic Party after his term of service as Governor. They have, I believe, never been differences of political principle. My differences of opinion with him have been mainly upon the question what individuals were fit to be trusted with political office and power, and with the leadership in political parties, and upon the question whether certain men and influences were to be tolerated, or whether the public safety required unsparing warfare upon them. So, while we have agreed in general as to policies, we have always had an entirely different set of friends and companions. Mr. Boutwell has borne an honorable part in our history. His titles to a place in the grateful memory of his countrymen are not likely to be overlooked. One of them deserves special mention. I am but repeating what I said many years ago. As a leading member of the House of Representatives, and as Secretary of the Treasury under President Grant's Administration, he had, of course, a large influence upon our financial history. He saw very early the importance of devoting every resource of the country to the reduction of the National debt. It was not with him, as I understand it, a question whether a little saving could be made in the way of taxes by postponing the payment until the rate of interest should be less or the National resources greater. He saw that it was important that the people should not get accustomed, as the English people are, to consider a National debt as something that was to continue always. He saw that it was important to the character of the people, as to an individual, that they should be impatient and restless under the obligation of debt, and should consider it alike the Nation's first duty and its greatest pride and luxury to get rid of the burden. This has always been the temper of the State of Massachusetts, of her towns, and, in general, of her citizens. Accordingly he insisted that the debt should be reduced so rapidly that the people would take pride in having paid it, and would be relieved from the temptation of listening to the specious and seductive arguments of persons contriving dishonest methods of getting rid of it by issuing fiat money, or any device of direct or indirect repudiation. Many persons can remember in what dangerous forms this temptation came, and how many men, who otherwise deserve to be held in high esteem, yielded to it wholly or partly. Mr. Boutwell's powerful influence was a very important factor in attaining the result in which we all now take so much satisfaction, and keeping the American people in the path of duty and honor.