CHAPTER XX.

THE FORTIETH CONGRESS. Legislation During the Two Years--Further Reduction of the Currency by the Secretary Prohibited--Report of the Committee of Conference --Bill for Refunding the National Debt--Amounted to $2,639,382,572.68 on December 1, 1867--Resumption of Specie Payments Recommended-- Refunding Bill in the Senate--Change in My Views--Debate Participated in by Nearly Every Senator--Why the Bill Failed to Become a Law-- Breach Between Congress and the President Paralyzes Legislation-- Nomination and Election of Grant for President--His Correspondence with General Sherman.