Recollections of Forty Years in the House, Senate and Cabinet: An Autobiography.Sherman, John
History
Recollections of Forty Years in the House, Senate and Cabinet: An Autobiography.
Sherman, John
Sherman, John, 1823-1900; Statesmen -- United States -- Biography; United States -- Politics and government -- 19th century
CHAPTER XXII.
OUR COINAGE BEFORE AND AFTER THE WAR.
But Little Coin in Circulation in 1869--General Use of Spanish
Pieces--No Mention of the Dollar Piece in the Act of 1853--Free
Circulation of Gold After the 1853 Act--No Truth in the "Demonetization"
Charge--Account of the Bill Revising the Laws Relative to the Mint,
Assay Offices and Coinage of the United States--Why the Dollar was
Dropped from the Coins--Then Known Only as a Coin for the Foreign
Market--Establishment of the "Trade Dollar"--A Legal Tender for
Only Five Dollars--Repeated Attempts to Have Congress Pass a Free
Coinage Act--How It Would Affect Us--Controversy Between Senator
Sumner and Secretary Fish.
CHAPTER XXIII.
SOME EVENTS IN MY PRIVATE LIFE.
Feuds and Jealousies During Grant's Administration--Attack on Me
by the Cincinnati "Enquirer"--Reply and Statement Regarding My
Worldly Possessions--I Am Elected to the Senate for the Third Term
--Trip to the Pacific with Colonel Scott and Party--Visit to the
Yosemite Valley--San Diego in 1872--Return via Carson City and Salt
Lake--We call on Brigham Young--Arrival Home to Enter Into the
Greeley-Grant Canvass--Election of General Grant for the Second
Term.
CHAPTER XXIV.
THE PANIC OF 1873 AND ITS RESULTS.
Failure of Jay Cooke and Co.--Wild Schemes "for the Relief of the
People"--Congress Called Upon for Help--Finance Committee's Report
for the Redemption of United States Notes in Coin--Extracts from
my Speech in Favor of the Report--Bill to Fix the Amount of United
States Notes--Finally Passed by the Senate and House--Vetoed by
President Grant and Failure to Pass Over His Objection--General
Effect Throughout the Country of the Struggle for Resumption--
Imperative Necessity for Providing Some Measure of Relief.
CHAPTER XXV.
BILL FOR THE RESUMPTION OF SPECIE PAYMENTS.
Decline in Value of Paper Money--Meeting of Congress in December,
1874--Senate Committee of Eleven to Formulate a Bill to Advance
United States Notes to Par in Coin--Widely Differing Views of the
Members--Redemption of Fractional Currency Readily Agreed to--Other
Sections Finally Adopted--Means to Prepare for and Maintain Resumption
--Report of the Bill by the Committee on Finance--Its Passage by
the Senate by a Vote of 32 to 14--Full Text of the Measure and an
Explanation of What It Was Expected to Accomplish--Approval by the
House and the President.
CHAPTER XXVI.
RESUMPTION ACT RECEIVED WITH DISFAVOR.
It Is Not Well Received by Those Who Wished Immediate Resumption
of Specie Payments--Letter to "The Financier" in Reply to a Charge
That It Was a "Political Trick," etc.--The Ohio Canvass of 1875--
Finance Resolutions in the Democratic and Republican Platforms--R.
B. Hayes and Myself Talk in Favor of Resumption--My Recommendation
of Him for President--A Democrat Elected as Speaker of the House--
The Senate Still Republican--My Speech in Support of Specie Payments
Made March 6, 1876--What the Financial Policy of the Government
Should Be.
Public-domain text, read in full here on John Shaqi.
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