The election of 1872 prompted Belmont to resign as chairman of the Democratic National Committee , but he stayed interested in politics as a champion of US Senator Thomas F. Bayard of Delaware for the presidency , and as a fierce critic of the process granting Rutherford B. Hayes the presidency in 1877 , and as an advocate of â hard money . â Although the election of 1872 prompted Belmont to resign his chairmanship of the Democratic National Committee , he nevertheless continued to dabble in politics as a champion of US Senator Thomas F. Bayard of Delaware for the presidency , as a fierce critic of the process granting Rutherford B. Hayes the presidency in 1877 , and as an advocate of â hard money .