Evening star. [volume] (Washington, D.C.) 1854-1972, 1877-08-18
In his speech at Mansfield. Ohio. last nigh,


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In his speech at Mansfield, Ohio, last night,
Secretary Sherman pretty clearly demon
strated that the way has been paved for a
much more economical administration of
the affairs OF the government than formerly.
The saving TO the government from the
reduction of the expenses of the larger GUS
tom houses he puts down Al sT2I $50 a year.
Since March last the government has also
made a reduction In rents by which 1t will
save s5s so year; while the contract for the
erection OF the state, War and Navy depart
ment building has been changed so as to
reduce its cost over 500 900. The Secretary
likewise asserts that in the management of
the finances OF the government and the dis
position of the bonds since the LIST OF March
last, the aggregate saving will be no less
than s3,5s1 900 year in coin, and that this
process of saving has just commenced.
In regard TO specie payments Mr.. Sherman
explains hts views by saying: What j
mean by specie payments is simply that
paper money ought TO be made equal to
coin, so that when you receive it 1t will buy
as much beef, corn or clothing as coin. A
deprecated paper money cheats and robs
every man who receives 10 of a portion of the
reward OF his labor or production, and in all
times Ii has been treated by statesmen as
one of the greatest evils that can bafall a
people" Believing that specie payment, OF
a specie standard, is pressed by the great
body of intelligent men who have made the
subject study, the Secretary says the ques-
ton is as to the time and mode by which this
may be brought about, and on this subject
no man should be dogmatic or stand without
yielding upon plan of his own. but should
bewilling TO give and take, securing the best
expedient that public opinion will allow to
be adopted.
As to the resumption act the Secretary
says Congress makes IL his duty to prepare
for resumption in 1879. There are two ways
of doing this-either to diminish the amount
ofnotes TO be redeemed, which is commonly
called a contraction OF the currency, or by
the accumulation OF coin in the treasury to
enable the Secretary to maintain resump-
ton. Since last March, currency and gold
and silver coin and bullion have accumu-
lated to the amount OF 81 $40 1872. From the
FIRST Of March to this time there has been
added to our coin reserve 1000 900 by the
sale of bonds without disturbing the money
market, and with gold steadily on the decline
the public debt has been reduced since the LIST
ofMarch the sum'of SO, n, s2i. In Mr.. Sher-
mans opinion the same progress that has
been made since the 1st of March, if contin-
ued twelve months longer, will certainly
bring us TO specie standard. He further
says he feels confident in saying that IL I'M
disturbed, with or without change of the law,
every dollar of United States notes will be-
fore the time fixed for resumption bring as
mucn as an equal amount In either gold or
silver.
The Secretary, 1t will be seen, tenacieusly
adheres TO his financial theories. 1t now re-
mains to be seen what effect his speech will
nave on the coming election. Many repub-
ncans who differ from the Secretary depre-
Gated the idea of his speaking in Ohio at all
during the campaign, contending that his
hard money theories are unpalatable to a
large body OF the republicans OF that state.
A dispatch from Bloomington, illinois,
contradicting the reports in regard to III
health of Senator David Davis says, ssthe
fact is, that Senator Davis was never in a
better condition than at present his weight
being 90 pounds" This would seem to De
equivalent TO saying that a per :on's health
necessarily improves a. he increases in adj
pose matter.
There are some indications that the work
ingmen's party in New York is growing into
q formidable organization which will play
an important part in the fall election in that
state. Its members are quite encouraged by
the success Of the workingmens party in
Louisville, Kentucky, the other day in
electing five out of seven members of the
legislature, and Of late frequent meetings
have been held TO perfect a plan OF opera
lions for the approaching fall elections
Opinion is divided On the point whether to
have candidates and platform OF their own,
or whether they should merely limit their
influence to the endorsement of candidates
who will accept the workingmen's platform
and give written pledge TO carry out the
measures which the latter will recommend.
The feeling preponderates in favor of indie
pendent action, on the assumption that the
professional politicians are not to be trusted
Meanwhile the republicans and democrats
lust for the suffrsges OF the workingmen.
and are trying TO devise some way of captur.
ing them The cardinal points the working
men " ill insist upon are said to be a state
labor bureau. a state board of arbitration,
me maintenance OF the eight hour law, and
further restrictions upon the privileges
granted 10 railroad corporations.
-S~~-
Friends OF the Texas Pacific railroad claim
that the recent excellent showing made by
mat company will be certain to clear the
way for the desired subsidy at the hands of |
he next Congress. Possibly. But suppose |
some unreasonable fellow should rise in his |
seat and make the point that concern which |
can do so well on its own account, according
to Its own showing, doesn't need any gov |
eminent aid. How would that sort OF rea- |
soning strike the boys?
The American Minister to Greece, in a dis |
patch 10 the Department of State, asserts tina, |
The United States can now and henceforth |
control the grain markets of Europe. Russia |
he says, has been our only competitor in this |
trade, but We have the advantage, for the !
reason that our machinery, railroad system, |
&C., enable us TO place our grain on ship |
board fifteen per cent less than IL could be |
done in the ports OF Russia. This recalls the |
fact that leading grain merchants and ship
pers In New York express the bel ief that liza
proper effort were made IL would be quite
possible 20 send grain enough from this coun-
Try 10 arrest the famine In India. IL is be-
heved that vessels could be dispatched from
San Francisco, and also by way OF the Suez
canal, and be al their destination al q time
far in advance of the period when the famine |