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The so-called reconstruction
acts, though as plainly unconstitutional as any that can be imagined,
were not believed to be within the class last mentioned. The people were
not wholly disarmed of the power of self-defense. In all the Northern
States they still held in their hands the sacred right of the ballot,
and it was safe to believe that in due time they would come to the
rescue of their own institutions. It gives me pleasure to add that the
appeal to our common constituents was not taken in vain, and that my
confidence in their wisdom and virtue seems not to have been misplaced.
It is well and publicly known that enormous frauds have been perpetrated
on the Treasury and that colossal fortunes have been made at the public
expense. This species of corruption has increased, is increasing, and
if not diminished will soon bring us into total ruin and disgrace. The
public creditors and the taxpayers are alike interested in an honest
administration of the finances, and neither class will long endure the
large-handed robberies of the recent past.


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