tates Treasurer Thomas Hillhouse and E. J. Babcock, as witnesses."

The importance of this contract and the open publicity of the
negotiation, created quite a sensation in the newspaper press,
which presented a medley of praise and censure. All varieties of
opinion from extravagant flattery to extreme denunciation were
visited upon me by the editors of papers according to their
preconceived opinions. I made no effort at secrecy, and no answer
to either praise or blame, but freely contributed any information
in respect to the matter to anyone, whether friendly or otherwise,
who applied to me. Perhaps as accurate a statement as any, of my
opinions, was made by George Alfred Townsend, over his _nom de
plume_ of "Gath," in the New York "Graphic" of April 12, 1878. He
said:

"At four o'clock yesterday afternoon John Sherman, the Secretary
of the Treasury, was sitting in Parlor No. 1, the ante-room of the
late Republican national committee, when I followed my card into
his presence. 'Ah!' he said, rising from an easy chair where he
was resting, like one recently wearied but now relieved. 'Come
in; it's all over now, and I don't mind telling you about it.'

'Yes, it's all over Wall street, and I think opinion was more
favorable to the syndicate getting the bonds than the bank
presidents.'

'The representatives of the banks were very polite and well-meaning,'
said the secretary. 'I sent word that I was coming to the city
and asked the national banks, as intimately related to the treasury
department, to select persons to meet me. I also notified the
members of the old syndicate that I had some propositions to suggest
to them.'

'This is your third visit on the general object of resumption? A
very eventful visit, isn't it, in the story of our finances?'

'Well, both my previous visits were important--in May, 1877, when
$200,000,000 of four and a half per cent. bonds were disposed of,
and again last June, when $75,000,000 of the four per cent. bonds
were subscribed for. The present visit is probably the last with
such an object. I feel glad and relieved.'

'You failed to get the bank philosophers to get you the $50,000,000
of gold?'

'I thought I could see that they did not mean to enter into the
subscription. They all said they wanted to see resumption achieved,
and would like to aid it, but spoke of their obligations to their
commercial customers. They said too, that they would have to rely
on brokers to