The Daily Phoenix

During all the financial excitement, the Secretary of the Treasury has been cool and collected, notwithstanding the continuous receipt at all hours of telegrams from the North and from London and other parts of Europe, overwhelming him with questions and making all kinds of propositions, and volunteering advice, much of the latter of conflicting character. The telegrams were promptly answered, many of them with the emphatic "No!" Assistant Secretary Sawyer, who was present to-day, when the Secretary frequently wrote "No" only with his signature, sportively suggested to the Secretary, that as it seemed necessary to write "No" so often, it would economize time, if a standing order were left at the telegraph office to answer with the word "No" all the telegrams received for the Secretary. A London correspondent wished to know whether the Secretary would buy Pacific Railroad bonds. To this, "No" was responded; and so of numerous inquiries as to other kinds of bonds. The Secretary fully advised the President of all these facts. The course pursued in relation to them received the President's unhesitating approval.