opinions exert a greater influence. Eight was had in completing the ticket. There years ago his fellow citizens placed him on were many in that convention who were the ticket with Samuel J. Tilden, and those for "the old ticket" of 1876, and had Mr who best know the inward workings of Tilden consented to be a candidate, there that campaign, and its termination before is little doubt that it would have been nothe Electoral Commission, feel assured minated. But when that could not be that the ticket elected by the people was had, there seemed to be a general feeling sacrificed by that arbitration. It is not that the honored name of Hendricks which our purpose to discuss that matter in this graced the old ticket, should again he brief notice, but the law of retributive placed upon the Democratic banner The justice would seem to have demanded his recess that was taken only tended to solipresentation again for the position to dify this sentiment and when the convention which he, and millions of his people, be- again met, it was a foregone conclusion that lieve he was rightfully elected. Thomas A. Hendricks would be the no│minee.

Ex-Senator Wallace of Pennsylvania said that he nominated as a candidate for Vice-President a man conversant with public affairs throughout his whole life, an

citizen, a victim of the grossest fraud ever perpetrated on the American people— Thomas A. Hendricks.

Governor Waller seconded the nomination of Hendricks, and said that the Democratic party would, in defiance of fraud and in accordance with law, place him in the chair of Vice-President.

Thomas A. Hendricks is more than an ordinary statesman. His ability to grasp the issues of the hour and to predict their effects upon the future, is attested by the Congressional records giving his services in the House and in the Senate. Never honored statesman, a pure and upright in the history of our country did political excitement run more high than when he took his place in the upper House of Congress. With a disrupted nation and a bloody war, which had existed for two years, with the North and South arrayed against each other, with millions of men in the field-with a demoniac howl against the Democracy throughout the free states because they strove to be national instead of sectional,-with the bayonets of the Federal army as a support of the Republican party, and with the soldiers as a detective police, to throw into prisons without warrant or indictment any who The announcement that Mr. Hendricks might refuse to sanction the policy of the might not accept the second place, only dominant party-in such a time, and un-increased the enthusiasm, and one by one, der such circumstances, the Democracy of all the names of the other candidates were Indiana chose Mr. Hendricks to represent their State in the Senate. But then as now, there, as in his own state, he stood true to his convictions, and acted as the Senator of a nation, instead of the champion of a faction.

His Nomination as Vice-President.

After Mr. Cleveland had been chosen for the first place on the National ticket, the question as to who was the best man for the second place became the topic of the moment. That the delegations had deliberated as to a Vice-President, prior to the selection of Mr. Cleveland, there can be no doubt from the fact that no delay

The presentation of Mr. Hendricks' name was greeted with enthusiastic cheers, the Convention repeating, in a lesser degree, the scene which took place at the morning session in honor of the same gentleman.

withdrawn, leaving him the sole nominee. Mr. Waller continued his eulogy, and said that neither Connecticut's Governor nor Connecticut had a desire to force on Indiana a candidate against her will, but this was not an Indiana convention [laughter and applause], but one of the Democracy of the country, and the Democrats had the right to take any man that they saw fit for their ticket. If there was any Democrat who said he wonld not, under the circumstances here presented, take the nomination, he would of course withdraw his name, but Mr. Hendricks deserved it for the wrong that had been done in 1876. [Applause.] The party

from the East that it had eight years ago but for his lack of health. Mr Hendricks was, thank God, in good health, and his selection was demanded by the party

would have selected the same statesman | been fully demonstrated by the facts, show that he was in advance of all others in his belief that our bonds could be placed at a lower rate of interest than was then paid. That the reader may fully understand his position on the financial question, and his faith in government securities more than one year before the war had closed, we make the following extract from the Congressional records :

now

Somebody asked that the rule be enforced requiring the call of States to proceed, and ex-Senator Wallace, declaring that Mr Hendricks had once been elected Vice-President, and it was the party's demand now that he occupy his rightful seat again, moved that the rule be suspended and that the nomination be made by ac

clamation.

March 3, 1864, when a bill "To provide ways and means to support the government" was before the Senate, Mr. Hendricks said: "It has been expected in the country that a five per cent. loan would be provided for, and I was surprised when the report came from the Committee on Finance providing for a six per cent, loan. The six per cent. bonds are worth in the market above par, which indicates very clearly that the Government could negotiate a loan at less than that rate of interest. It seems to me that the Government should negotiate its loans at the very lowest rate of interest possible. As compared with the debts of other Governments our debt is being contracted at a very high rate of interest, and it thus imposes a very great burden on the people. If we can secure a loan at five per cent. instead of six we ought to do it. It seems to me, if the public credit is maintained as it has been for the last few months, that a loan can be secured at five per cent. With the present depreciation of the currency five per cent. payable in coin, as this bill provides, would be equal to nearly eight per cent. in currency.

He was an Alabamian who now mildly suggested that a roll-call be taken on the honorable names that had been presented. The convention, however was set on having Hendricks, and no attention was paid to him. Judge John T Harris, of Virginia, seconded Mr Wallace s motion. The withdrawal of all names save that of Hendricks now began, amid the applause of the audience. Searles withdrew the name of Rosecrans, and Colorado that of McDonald. Ex-Governor Hubbard of Texas, scronded Hendricks's nomination in a vigorous speech from the platform, in which he declared that the old ticket had been the desire of the Texas delegation when elected, and it still had a longing for it "Gov. Hendricks will surely carry Indiana," said he, and again there was a shout. He deserves it give it to him, for God's sake," Black's name was withdrawn, and Smith M. Weed begged the convention not to give the nomination to Mr Hendricks with a hurrah, but let My proposition is to issue these bonds. the roll be called. Wallace withdrew his at a rate of interest not to exceed five per motion and substituted one that the nomi- cent. If the chairman of the Committee nations be closed, which was adopted with on Finance will say that he is satisfied a hurrah, and State after State recorded such a loan cannot be negotiated, of course in his favor, giving him the entire vote of that would influence my judgment very the convention. much on this proposition but until he says Before proceeding to his biography in so, I am satisfied that such a loan can be detail we propose to give the reader an in-negotiated, and if so it ought to be done. telligent idea of the man as the represen- We ought not to continue to increase our tative of the party which has just nominated him, by quoting from his public record.

His Record. Mr.'Hendricks's broad and sound financial views, the correctness of which has

debt at the enormons rate of interest we now pay unless it be absolutely necessary. If we can secure a five per cent, loan instead of six per cent. or a higher rate, we should do it. I should like to know from the chairman of the Committee on Finance

whether, in his judgment, on an examination of almost all the cities money can be readily had on an interest of six per cent per annum payable in paper As I said before, at the time the answer was made to the Senator by Mr. Hunter, that was not the case; but loans were negotiated at from seven to nine or ten per cent.

In

that it shall be considered a sufficient answer to me that any former Administration was compelled to negotiate a loan at a very high rate of interest. reply to the Senator from Michigan, I do not recollect the circumstance to which he refers. I will not dispute it, but my reply is, that I have no knowledge of the circumstance to which he refers.

Now, sir, the difference between paper and gold is quite thirty-three per cent.; one The chairman of the Committee on dollar in gold being worth $1.59 in the Finance has called attention again to the paper currency of the country, and the fact that this is but a limitation, it fixes ordinary commercial rate of interest the maximum of interest, and the Secrebeing six per cent. payable in paper. tary of the Treasury may possibly negoUnder these circumstances, I want to tiate it at a less rate. I will ask the Senaknow why it is that the Secretary of tor if he knows of any case in which a the Treasury cannot negotiate this loan loan has been negotiated at a less rate of payable in gold at less than six per cent. interest than the maximum fixed in the If the banks of the country can use their bill allowing the loan? capital at six per cent. and no greater rate of interest payable in paper, which is worth so much less than gold, why is it that the Secretary of the Treasury must pay in gold what is equal to more than nine per cent. in paper?

If the Secretary of the Treasury were to say to the Senate that he could not negotiate a loan for less than nine per cent., when the ordinary interest of the country is but six per cent., payable in depreciated currency, I would say the opinion of the Secretary of the Treasury was not entitled to the respect of the Senate. That would be my response to that proposition. But I want to ask the chairman of the Committee on Finance if the Secretary of the Treasury were to say to us that in view of the present state of the rate of interest in the country he could not probably negotiate for less than nine per cent., whether he would insert in this bill "nine" instead of "six per cent.," contrary to his own convictions.

does not. I As soon as

Mr. FESSENDEN. No, I do not. Mr. HENDRICKS. The senator says he does not. Of course he knew that would be his reply it is fixed in the bill, it becomes the opinion of the country, and the rule in the Department, too, that that shall be the rate, and when we say that it shall not exceed six per cent. it is the same as saying that the loan shall be negotiated at six per cent. That becomes both the maximum and the minimum.

There has been a desire to obtain the Government securities within the last few months. We have an illustration of it here in this bill. A six per cent. loan was sought after with such avidity that $11,000,000 were subscribed for beyond the amount allowed by law, and this bill provides for that excess. There was an earnest desire to secure the loan, and that Government security is now worth in the market three or four per cent. above par.

With this prominent, striking fact beMr President, I have not designed to fore us, it seems to me remarkable that the discuss this question as a party man, nor chairman of the Committee on Finance do I intend to be led off into a party dis- should say to us we cannot negotiate a cussion. We are now considering a ques-loan at less than six per cent. This loan tion that goes to the pockets of the tax- is now worth at six per cent., payable in payers of the country. If we can negotiate coin, nine per cent. in currency. Money a loan at five per cent., instead of six is loaned in the banks and in all comper cent., it is our duty to do it. Our debt mercial transactions at six per cent., but is being contracted at a higher rate of the Government pays what is equivalent interest than perhaps the debt of any to nine per cent. I say we ought not to do country in the world. I do not intend it. If we make a loan at five per cent.,

payable in coin, it is equal to seven or eight per cent. in the ordinary currency of the country

I have made this proposition in good faith, not as a party man. I disclaim party considerations and influence upon a question like this. Our debt is going up to an enormous amount, and we should consider well at every step where we add one hundred or two hundred or three hundred million dollars to our already enormous debt, whether we can secure the loan at a less rate than that heretofore provided

the Government securities went up, very naturally. And now as the Senator claims that the rebellion is upon its last legs, why is it that he says the confidence in the public securities is not greater to-day than it was even at that hour? As the hour approaches, in the opinion of the Senator, at which at which the rebellion will cease to have power to resist the authority of the Government, the confidence in the Government securities is to go down, at least not to increase. Sir, the success of our armies has given this confidence, and no efforts of political parties in the country. I believe if we put a six per cent. loan I am very sorry that upon a question in this bill, the Secretary of the Treasury that affects only the tax-payers of the cannot negotiate it at less than six per cent., | country, the Senator should have deemed because that then becomes the rate in the public opinion, and the men who have money to loan will say to the Secretary, "We will let you have it at the amount of interest which the bill allows, but we will

for

not let you have it at less." If the bill were to say five per cent., I believe the Secretary could secure it at that rate.

it necessary to go into any political discussion. I do not intend to be led into it even by the chairman of the Committee on Finance.

His Early History.

Thomas Andrews Hendricks, was born on a little farm in the vicinity of ZanesI should not have indulged in another ville, Muskingum County, Ohio, on the word in this debate, for I have expressed 9th of September, 1819, so that he is now my views on the amendment which I have approaching his sixty-sixth year, His offered in good faith, were it not for father, the late Major John Hendricks, was the last suggestion of the Senator from a native of Pennsylvania, and was Maine. He has said to the Senate that the amongst the first settlers of Ligonier Vallast loan was taken and public confidence ley, in the county of Westmoreland. He grew up in respect to it notwithstanding was an enterprising, thrifty man, and a the efforts of the men in the country with fine specimen of those early squatters who whom I act politically to beat down public filled the primeval forests and tilled the confidence in regard to that loan. Sir, I virgin soil. His father was noted for his have not sad anything in this debate to social graces and hospitality, and was concall for any such suggestion froin the spicuous in the Presbyterian Church; and Senator and with great respect to him these circumstances left an impress on the personally, I think that part of his argu- young man's character. He took an acment is not worthy the position he holds tive part in public affairs, held several in the Senate. I know of no effort on my positions in the county, and was elected to own part and of no effort on the part of the State Legislature. His wife, the the public men with whom I act as a party mother of the nominee, was Jane Thomman to destroy the confidence of the peo-son, of Scotch descent, her grandfather, ple in the Government securities. Public John Thomson, having emigrated to this confidence in those securities depends country before the Revolutionary war, in very much on our military operations, and which he bore an honorable and conspicuthe confidence in that loan was insipred ous part. In 1820, six months after the more by the successes of our army upon birth of his son Thomas, he sold his prothe Mississippi and the Cumberland than perty in Westmoreland county, and reby any political speeches, and the Senator moved to Madison on the Ohio river, in ought to know it. After the victories of the State of Indiana, where his brother, July last, the confidence of the public in William Hendricks, also resided, the sec

ond Governor of Indiana, the first Repre- | make the law his profession and he at sentative to Congress from that State, and once commenced the study of law with afterwards the predecessor of his nephew Judge Major, one of the most prominent Thomas, in the Senate of the United members of the Bar of Central Indiana, States. Shortly after the father, John, re- then and still residing at Shelbyville. moved to Indiana he was appointed by the Here for about a year he diligently purgovernment at Washington, Surveyor of sued his legal studies, giving promise that Public Lands, a positon which he filled to he had selected a profession for which he the satisfaction of the administration. In was peculiarly fitted, and in 1842, he went the year 1822, when Thomas was only three to Chambersburg, Pennsylvania, at the years of age, his father concluded to go request of his uncle, Judge Thomson, of further west, and accordingly removed that place, where he completed his studies into the interior of the State and pur- under his direction and was admitted to chased a home in Shelby County,near Shel- practice. Shortly after graduating in the byville, the present site of the County seat, law he left the home of his uncle, returned which was then, and still is, one of the to Indiana, and hung out his shingle as a most delightful and productive spots in the lawyer in Shelbyville. But clients came State of Indiana. Here John Hendricks slowly and at long intervals, and the built him a substantial brick house, which bright and pleasant dreams of the visionis still standing, in which his family was ary student faded away before the stern reared, amid the best influences that could realties of actual business. His success be enjoyed in those pioneer days. Indi- was not rapid, and at one time the young anapolis had just been laid out and estab- lawyer depairing of success, almost relished as the future capital of the State, solved to strike out in another field of and Mr. Hendricks' house was one of the labor. His friends dissuaded him from so principal centres of education and Chris- doing, so he continued at his calling, and tian refinement in the central part of Indi- his close attention to the interests of those ana. He was the father and founder of who patronized him, his correct habits the Presbyterian Church in Indianapolis, and his pleasant and engaging address, of the good Scotch type, and in that faith all conspired to give him popularity, so the boy Thomas was reared and nurtured. that gradually his practice increased and his reputation spread, until in the end he had a lucrative practice and a high position in his profession.

His Early Days.

Young Hendricks attended the village school where he exhausted the local educational opportunities, and as soon as he reached the required age he entered the college at South Hanover, near Madison, one of the pioneer educational institutions of the West, from which he graduated in 1841, at the age of twenty-two years. During his collegiate term he was noted amongst his preceptors and students for the ease with which he prepared himself in his several studies, which was due to his analytical mind and retentive memory He always had time to join in games for recreation, as well as to read many books in no way appertaining to his college studies. He excelled in mathematics and logic, and gave promise of high literary talent.

The Student and Lawyer.

By hard work at his profession and habits of strict economy, he accumulated a moderate fortune. About the same time

he commenced to practice law, he entered the political field and being a good debater and an oratorical speaker, he soon became a prominent factor in the politics of his state. It is quite probable that his political speeches and his commingling with the public men of the day, added very largely to the number of his clients and augmented the receipts from his profession.

In Mr. Hendricks' profession-the lawall acknowledge him to be great. This is the vocation to which nature particularly adapted him, and it is his favorite one. He has, since first entering public life, returned to the practice of his profession with facility and zeal immediately upon.

Prior to leaving college he decided to the termination or intermission of official