ng his official life, and will, in his
retirement, watch with parental solicitude their progress upward
in the noble profession to which they have devoted their lives.

"W. T. Sherman, General.
"Official: R. C. Drum, Adjutant General."

He then rose from his desk, gave his seat to Sheridan, who at once
issued his orders assuming his new duties, and the transfer was
completed. I know that when the bill for the retirement of officers
at a specified age was pending, there was a strong desire in the
Senate to except General Sherman from the operation of the law,
but the general, who was absent on the plains, telegraphed me not
to allow an exception to be made in his favor, insisting that it
would be a discrimination against other officers of high merit.
Thereupon the Senate reluctantly yielded, but with a provision that
he should retain his salary as general, notwithstanding his
retirement.

At this period mention was again made in the newspapers of my name
as the nominee of the Republican party for President in the next
year. I promptly declared that I was not a candidate and had no
purpose or desire to enter into the contest. This discussion of
my name continued until the decision of the national convention,
but I took no part or lot in it, made no requests of anyone to
support my nomination, and took no steps, directly or indirectly,
to promote it.

CHAPTER XLVI.
EFFECT OF THE MARINE NATIONAL BANK AND OTHER FAILURES.
Continued Prosperity of the Nation--Arthur's Report to Congress--
Resolution to Inquire into Election Outrages in Virginia and
Mississippi--Reports of the Investigating Committee--Financial
Questions Discussed During the Session--Duties and Privileges of
Senators--Failure of the Marine National Bank and of Grant and Ward
in New York--Followed By a Panic in Which Other Institutions Are
Wrecked--Timely Assistance from the New York Clearing House--Debate
in the Senate on the National Bank System--Dedication of the John
Marshall Statue at Washington--Defeat of Ingalls' Arrears of Pensions
Amendment to Bill to Grant Pensions to Soldiers and Sailors of the
Mexican War--The Senate Listens to the Reading of the Declaration
of Independence on July 4.

The message of President Arthur, submitted to Congress on the 4th
of December, 1883, presented a condition of remarkable prosperity
in the United States. We were at peace and harmony with all nations.
The surplus revenue for the fiscal year ending Ju