CHAPTER XXIX.

The Temporary-loan System-Its Usefulness-Certificates of Indebtedness-

The Five-twenties-Condition of the National Finances June 30, 1862—

The Public Debt-Consequences of the Suspension of Cash Payments

CHAPTER XXX.

Letters and Extracts from Letters written in 1861-Of Appointments in the

Treasury Department-Emancipation a Probable Result of the War-Na-

tional Loan-Emancipation Proclamations by Commanding Generals—

Duty of Government to provide a National Currency-War Department

Expenditures, 1861-What Mr. Chase thought of Mr. Cameron

CHAPTER XXXI.

Condition of the State Banks in 1861-Character of the State-Bank Circulation

at the Date Brief Account of the State Banks (Note)-Mr. Chase recom-

mends the National Banking System-Extracts from his Report, December,

1861-National Banking Bill introduced in House of Representatives, by

Mr. Hooper, of Massachusetts

PAGE

269

. 274

282

CHAPTER XXXII.

Mr. Chase renews his Recommendation of a National Banking System, Decem-

ber, 1862-Debate upon the Bill in House and Senate-Final Passage of

the Bill, February 25, 1863-Principal Features of that Bill-Organization

of National Currency Bureau-Amendatory Act of 1864-Discussion in

Congress-Bank of Commerce-Abstract of the Amendatory Act-Oper-

ation of the Act-Taxation of State Banks-Present Condition of the Na-
tional Banks

293

CHAPTER XXXIII.

The Morrill Tariff-Tariff Amendments-General Revision of the Tariff of 1861

-Tariff Receipts-Internal Revenue Bureau created-The Direct Tax-In-

come from Internal Revenue-Commerce between Loyal and Insurgent

States-Embarrassment of the Subject-Mr. Chase's Views-Proclamation

of Blockade, and Suspension of Internal Commerce by the President-

Acts of Congress on the Subject-Policy of Mr. Chase "Trade shall fol-

low the Flag"-Advance in the Price of Cotton, and Abuses occasioned

by Eager Desire for Traffic-Necessity of the Internal Commerce-Regu-

lations for its Government-Origin of Freedmen's Bureau-Magnitude of

the Internal Commerce System-Corruption among the Officers-A Painful

Instance of this

CHAPTER XXXIV.

Recommendations of Mr. Chase in Respect of Economy and Taxation-Income

from Taxes during Mr. Buchanan's Administration-Internal Revenue and

812

CONTENTS.

Tariff Acts-Income from those Sources-Extracts from Letters of Mr.

Chase to Mr. Fessenden

xiii

PAGE

.830

CHAPTER XXXV.

Loan Acts of Congress-Fractional Currency-The "Seven-thirty National

Loan" of 1861-The "Five-twenties "-Probable Results of offering them

to Capitalists-Ninety-seven to Ninety-eight Cents for the Dollar-Declines

to submit to such a Loss-Appoints a General Subscription Agent-Brill-

iant Success of the Agency-The "Ten-forties" fail-Some Facts about

the War-Summary.

. 838

CHAPTER XXXVI.

Advance in the Premium on Gold during 1862-Extraordinary Fluctuations in

1863 and 1864-Efforts to control the Premiums by Treasury Sales-Their

Failure-The "Gold Bill" of June 17, 1864-Its Disastrous Effects-Fever

in the Gold Market-Mr. Chase's Resignation-The Highest Figure of the

War, 185 per cent., July 11th-Repeal of the Gold Bill-Government Sales

of Foreign Exchange and Gold Certificates-Failure of all these Measures

-Table showing Average Premium on Gold for Five Years

356

CHAPTER XXXVII.

Letters and Extracts from Letters of Mr. Chase written during the Year 1862. 863

Letters and Extracts of Letters written between January 1, 1864, and June 30,

1864

898

CHAPTER XL.

Summary-Mr. Chase's Financial Objects-To obtain Supplies-To provide a

Permanent Currency-To provide a Funding System and secure Controlla-

bility of the Public Debt-Objections to Long Bonds-To secure Early Re-

sumption-General Effects of his Measures-Letters to Colonel Van Buren

and Secretary Fessenden.

406

CHAPTER XLI.

1861.

Mr. Chase and the War-Extracts from his Letters and Diaries

The Assault upon Mr. Seward in 1862-Resignation of Mr. Chase-Withdraws

it and resumes Office-Is a Candidate for Presidential Nomination in 1864

-Hiram Barney-Republican Party in New York-Quarrel over the Cus-

toms in New York-Congressional Investigation-Arrest of A. M. Palmer

-Frank Blair's Speech in the House of Representatives-Official Patron-

age-How it is dispensed-Assistant Treasurer's Office in New York-Res-

ignation of Mr. Cisco-Difficulty in finding a Successor-Resignation of

Mr. Chase-Death of Chief-Justice Taney-Mr. Lincoln nominates Mr.

Chase to be Chief-Justice.

478

CHAPTER XLVI.

Mr. Lincoln and Mr. Chase-The Presidency and Mr. Chase's resignation.

CHAPTER XLVII.

Mr. Chase and the War-Reconstruction and Restoration

CHAPTER XLVIII.

Capture of Jefferson Davis-Its Embarrassment-Of what he was charged, and

the Punishment that might be inflicted-Why Mr. Chase refused to hold a

Court in Virginia-Relation between Civil and Military Power-The Inde-

pendence of the Judicial Department-The Question of admitting Mr.

Davis to Bail-A Letter of Mr. Chase on the Subject of the Davis Trial-

Holds Court in Raleigh, June, 1867-Sickles's Order No. 10-Proceedings

in Davis's Case at Richmond—Is pardoned

CHAPTER XLIX.

Universal Suffrage a Necessity of the Republican Party-The Excommunication

of the President-General Grant for President-Object of the Impeach-

489

514

533

CONTENTS.

ment-Ashley's Effort to bring it about-The Stanton Matter-Removal of

Mr. Stanton, February 21, 1868—Consequences of-Prompt Impeachment

of the President-Questions touching the Powers of the Chief-Justice in

the Trial-Their Settlement-Excitement-Torrents of Lies and Abuse

Henderson, of Missouri-The President's Acquittal.

CHAPTER L

XV

PAGE

. 546

The "Chase Movement” among the Democrats in 1868-The Fitness of that

Movement-Its Spontaneousness-Letter to Mr. Belmont-Advocacy by the

Herald of Mr. Chase-Friends of Mr. Chase in the New York Convention

-The Platform-A Half-vote for Mr. Chase-Excitement-Nomination of

Governor Seymour-How Mr. Chase received the News-Partisan Misrep-
resentation-Mr. Chase's Views-A Letter of Governor Seymour

CHAPTER LI

Letters of Mr. Chase upon Impeachment and the New York Convention.

CHAPTER LII.

. 560

574

Mr. Chase's Religion-His Simple Habits-Hospitality-His Modesty-Love of

Truth and of Justice-His Vast Labor-Description of the Treasury De-

partment-Organization of New Bureaus-Rule about Women-Personal

Characteristics-His Interest in Military Matters-Financial Beliefs and

Accomplishment-Political Action-As a Member of the Cabinet-As a✔

Lawyer-Personal-His Property

594