Chapter 32

I BEGIN MY DUTIES AS SECRETARY OF THE TREASURY. Legislative Training of Great Advantage to Me in My New Position-- Loan Contract in Force When I Took the Portfolio--Appointment of Charles F. Conant as Funding Agent of the Treasury Department in London--Redeeming Called Bonds--Sale of Four Per Cent. Bonds Instead of Four and a Half Per Cents.--Popularity of the New Loan--Great Saving in Interest--On a Tour of Inspection Along the Northern Atlantic Coast--Value of Information Received on This Trip--Effect of the Baltimore and Pittsburg Railroad Strikes in 1877 Upon Our Public Credit.