The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1877-06-21
THE YELLS FROM THE ENGLISH
BONDHOLDERS--SIL YER a PLAN
TO- ROB THE CREDITOR. ~

Now comes from Washington the state
meht that the Secretary Of the Treasury
is favorable to the restoration Of the sill
yer dollar. The same rumor, in
credible as it seemed, was some days ago
put into circulation respecting the PrePi-
dent, and to this hour there has been no
denial. The spectacle would in
deed be strange if Mr.. Hayes, after val
iantly fighting the greenback heresy in
his own State, were to use the large intiu-
ence of his present position to strength
en- movement which, morally and eco
nomically, is quite as bad as the one
which Mr.. Pendleton was for time the
leader. Asregards Mr.. Sherman's
alleged surrender, it is significant only
because of the official power he wields,
and the sense Of responsibility which
should be evident in his course. His
views upon financial questions have var,
led with the exigencies which called
them forth; and though himself the au-
thor of the Resumption Act his reported
Interpretation of its method differs fun
damentally from the exposition he gave
to the Senate, and from prior declara-
tions when the policy of contraction was
under consideration. AS the President
preceded the Secretary in his adhesion
to this scheme, we accept the opinions
now attributed to the latter as proof that
the weight of the Administration is to be
exerted in behalf of measure which
has nothing to recommend IT save the
possibility of partisan use in the fall cleo
tions. Had Mr.. Sherman, in the
Senate or elsewhere, proclaimed his read
mess to help the demagogues who long
ago conceived the idea of giving to the
United States a coinage which lacks the
essential quality of fixedness in value, il
is probable that his promotion to the
headship of the Treasury would not have
passed unopposed. In Ohio, Re-
publican leaders confessed that their sole
hope of carrying the State rests upon 9
prompt and hearty identification with
the movement of which the Democrats
claim to have been the originators.
Old associates of the President journeyed
r from Ohio to beg of him to take this steT
with the view of saving his party in his
own State. Then, and not till then, his
love of the old silver dollar became the
subject of telegraphic dispatches, and
sympathetic western newspapers exulted
over the story. Similar influences were
at the same time brought to bear upon
Mr.. Sherman, who is as keenly alive as
the President to party considerations in
his own State. < Close your eyes
when talking to an apostle Of silver from
Ohio or Illinois, and you might fancy
yourself listening to Cary or Allen,
There, in Indiana and in Ohio, disguise
is no longer attempted in relation to the
outstanding fve-twenties and the three
classes of funded loan. It lis insisted no
only that under a strict construction o
the two acts, the bonds may be redeemed
with silver, but that all of them shall bt
so redeemed, however great the depreci
alton in silver. X x In reality, there
fore, the demand for reconciliation is {
covert scheme for beneftting the debtor
at the expense of the creditor, and fol
breaking down the public credit by vi
olation of the conditions on which thu
Government sold and the bondholder
bought the bonds.-M Y. Times, Rep.