Recollections of Forty Years in the House, Senate and Cabinet An Autobiography.

CHAPTER XXIV.

Chapter 2786 wordsPublic domain

THE PANIC OF 1873 AND ITS RESULTS. Failure of Jay Cooke and Co.--Wild Schemes "for the Relief of the People"--Congress Called Upon for Help--Finance Committee's Report for the Redemption of United States Notes in Coin--Extracts from my Speech in Favor of the Report--Bill to Fix the Amount of United States Notes--Finally Passed by the Senate and House--Vetoed by President Grant and Failure to Pass Over His Objection--General Effect Throughout the Country of the Struggle for Resumption-- Imperative Necessity for Providing Some Measure of Relief.