"The month of August must necessarily be a languid one, and I do not advise any unusual efforts to force sales.
"Your supplemental cipher was received after your telegram, but was soon found and dispatch made out."
I no doubt was mistaken in the effect of the strikes upon our public credit. From that time forward for many months there was scarcely any sale of government bonds at any price. The contracting parties informed me that no bonds were then selling in the market and that in New York they were a trifle below par. Practically, for the remainder of the year, government securities were greatly affected in price and value.
CHAPTER XXX. POLICY OF THE HAYES ADMINISTRATION. Reception at my Home in Mansfield—Given by Friends Irrespective of Party—Introduced by My Old Friend and Partner, Henry C. Hedges —I Reply by Giving a Résumé of the Contests in South Carolina and Louisiana to Decide Who Was Governor—Positions Taken by Presidents Grant and Hayes in These Contests—My Plans to Secure the Resumption of Specie Payments—Effects of a Depreciated Currency—Duties of the Secretary of the Treasury—Two Modes of Resuming—My Mansfield Speech Printed Throughout the Country and in England—Letters to Stanley Matthews and General Robinson—Our Defeat in Ohio—An Extra Session of Congress—Bills Introduced to Repeal the Act Providing for the Resumption of Specie Payments—They All Fail of Passage— Popular Subscription of Bonds All Paid For.
About the 10th of August I made my usual visit to my home at Mansfield. Soon after my arrival I received the following invitation, signed by a great number of my neighbors and friends, without respect to party, expressing a desire to tender me a reception:
"Hon. John Sherman.
"Dear Sir:—The undersigned, your townsmen, and fellow-citizens of Richland county, desire to give you some manifestation of the very high regard in which we hold your public services. We are glad to know that you are permitted to again be at your own home, and for a week or two mingle with us in all the unrestrained freedom of friends and townsmen.
"Financial and other public questions are, however, of importance to us always, and especially now. We recognize your great ability and long experience, and cannot but think that an expression of your views on these questions will be very highly prized by the people of Ohio, irrespective of party. We therefore desire, with your sanction, on some day during the next week, to give you a hearty welcome to your old home, and shall be glad to have you, on the occasion, give your views on the public questions, now of such vast importance to all. With our kindest regards, we are,
"Your friends, etc., etc."
I replied as follows: