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Comte de Paris, History of the Civil War in America. Vol. 2. (ed. Henry Coppee , LL.D.), Book VII:—politics. (search)
lear and vigorous intellect, whose financial acts and theories have been warmly discussed, but who certainly displayed great intelligence and determination of purpose in the midst of unheard-of difficulties. He devoted the first few weeks of his administration to the task of reorganizing his department, and succeeded in recovering the confidence of capitalists and of the public in behalf of his government. The passage of the new tariff law of March 2d, which went into operation on the 1st of April, had, to a certain extent, relieved the credit of the Federal treasury; the Secretary took advantage of this to negotiate the loan voted on the 8th of February. On the 2d of April he succeeded in disposing of three millions of the bonds at above ninety-four, but political events, such as the bombardment of Fort Sumter, threw difficulties in the way of this operation, and it was with much trouble that he managed to dispose of five millions more, half of which was taken by the principal b