. Jay Cooke : financier of the Civil War . hern Pacific Railroad swarmed thicklyabout him. The offer led to his grateful acknowledg-ments and devout prayers for long life and continuedprosperity. 1 Blaine in Washington was pressing an-other demand upon Henry D. Cooke, who wrote to hisbrother: Blaine is so persistent in this matter that I feel it is importantthat he should be conciliated. We are not yet through all ourfights in Congress. We have interests ramifying in many direc-tions and hosts of enemies to hit us a blow whenever oppor-tunity offers. He is a formidable power for good or evil,
. Jay Cooke : financier of the Civil War . hern Pacific Railroad swarmed thicklyabout him. The offer led to his grateful acknowledg-ments and devout prayers for long life and continuedprosperity. 1 Blaine in Washington was pressing an-other demand upon Henry D. Cooke, who wrote to hisbrother: Blaine is so persistent in this matter that I feel it is importantthat he should be conciliated. We are not yet through all ourfights in Congress. We have interests ramifying in many direc-tions and hosts of enemies to hit us a blow whenever oppor-tunity offers. He is a formidable power for good or evil, andhe has a wide future before him. However unreasonable inhis demands he may appear to you to be, my conviction is irre-sistible that he should in some manner be appeased. I urge youto consider this view of the case and act upon it with yourusual A critical point in the Grant campaign was reached inSeptember, when the bottom .again fell out of prices in 1 Garfielde to J. C, April 30, D. C. to J. C, February 3, FINANCIER OF THE CIVIL WAR 355 Wall Street, and the financial situation which for longhad been so unwholesome, and would not and could notbe improved until the country returned to some rationalmonetary standard, threatened the total defeat of Re-publican hopes. The entire strength of the administra-tion, supported by Jay Cooke, was exerted to stem thecurrent which might lead to ruin. Henry Cooke wroteto his brother on September 17, 1872: I have talked with Judge Richardson as to the vital importanceof keeping the money market easy until after the election. Anyserious disturbance might prove fatal to Grants success. I gotGarland to write me a strong letter, giving me the position ofthings in Wall Street, which I sent to Porter at Long Branch, to-gether with my comments. The President is fully impressedwith the importance of this point, and I want you to talk toRichardson and get him committed to the policy. He has areserve of about forty-five
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