Lot #44

James A. Garfield

Description

Preparing a speech on "the Resumption of Specie Payments"

LS signed “J. A. Garfield,” one page, 7.5 x 9.5, House of Representatives letterhead, December 26, 1878. Letter to Dr. John Peter Robison in Cleveland, in part: "I have been detained by the necessity of preparing a speech which I have consented to deliver in Chicago on the 2nd of January in the celebration of the Resumption of Specie Payments. It will be a marked occasion and I shall have a large audience. I cannot afford to make a poor speech. I shall therefore be compelled to stay away from the viaduct celebration at Cleveland but as soon as I finish my preparations for the speech I shall go to Ohio." In very good to fine condition, with two short fold splits at the top, scattered light staining, and toning along the folds on the signed side.

Throughout his congressional career, Garfield was a chief opponent of the greenback and had long advocated for the gradual resumption of specie payments—that is, the government paying out silver and gold, rather than unredeemable paper currency. Congress passed the Specie Payment Resumption Act in 1875, which required the Secretary of the Treasury to redeem greenbacks in specie on demand on or after January 1, 1879. With that day finally in sight, Garfield was happy to celebrate in Chicago by giving a speech before the Honest Money League of the Northwest on January 2nd. A desirable letter related to Garfield's interest in the nation's monetary policy.

Auction Info

• Auction Title: September
• Dates: #535 - Ended September 12, 2018

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