nue for the purpose.

In practice, while keeping a book account with the sinking fund,
we have reduced the debt by the application of surplus revenue more
rapidly than if the requirements of the sinking fund had been
literally complied with. At several periods we, in fact, did not
reduce the debt, but actually increased it, and especially within
the last two years, but in other years of prosperity, when the
revenues exceeded our expenditures, we were able to pay a much
larger amount of the debt than the sinking fund required by law.

Mr. Beck said: "I propose to inquire pretty carefully, before we
get through with this interview, concerning the immense reduction
of the public debt which has been made, of over $700,000,000, from
the highest point down to the present, so that we may be governed
in the future taxation by actual requirements of the public service."
He expressed his wish, after he had carefully examined the interview
thus far, to continue it at a future day, but I was not again called
upon.

CHAPTER XL.
THE PRESIDENTIAL NOMINATION IN 1880.
Talk of Grant for President for a Third Term--His Triumphal Return
from a Trip Around the World--The Candidacy of Mr. Blaine and Myself
--Many of My Opponents Those Who Disagreed with Me on Financial
Questions--Accused of Being a Catholic and of Using Patronage to
Aid in My Nomination--My Replies--Delay in Holding the Ohio State
Convention--My Interview with Garfield--Resolution of the State
Convention in My Favor--National Convention at Chicago, on June 2,
1880--Fatal Move of Nine Ohio Delegates for Blaine--Final Nomination
of Garfield--Congratulations--Letter to Governor Foster and to
Garfield--Wade Hampton and the "Ku-Klux Klan."

During the entire period of this session of Congress the nomination
for President by the Republican national convention was naturally
the chief subject of interest in political circles. General Grant
returned from his voyage around the world arriving in San Francisco
in December, 1879, and from that time until he reached Washington
his progress was a grand popular ovation. He had been received in
every country through which he passed, especially in China and
Japan, with all the honors that could be conferred upon a monarch.
He made no open declaration of his candidacy, but it was understood
that he was very willing to again accept the office of President.
His friends openly avowed their intention to support him, and
answered the p