New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-09-16
WASHINGTON.


SECRETARY SHERMAN'S NEW ORDER.
GOSSIP IN REGARD 10 THE MOTIVE FOR IT-wHAT
THE SECRETARY SAYS HIMsELF-THE PRESIDENT
AS GOOD HARD MONEY MAN AS EVER.
IBY TELEGRAPH THE TRIBUEEl
WASHINGTON, Sept 15.-Very little if anything
more is positively known tonight than was known
ON Friday night with regard to the reasons which
operated on the mind of Secretary Sherman to
bring about the reversal of his plans for the mme-
date resumption of specie payments in silver
OF course many surmises are rife The fact that
tbe order authorizing the payment of silver dollars
in exchange for greenbacks was issued before the
Maine election, and that the order resembling it
came after that event. gives rise at once to the sup
position that the latter order in some
manner an effect of the unexpected result in
Maine. The order of Friday last was decided
upon at a meeting of Secretaries Sherman,
Evarts and Schurz, and AttOrney-General DeveDs,
held that afternoon. Immediately after the meet
ing telegram sent to the President, the exact
import of which is not known, but urging his early
return to Washington that he might counsel with
regard to the financial policy of the Treasury. To
this the President has replied that his views have
not been modified to the slightest extent, and that
he viii not return before next Saturday, and posi-
bly, not before the 25th instant. AS the Presidents
views are well known to the public through the
speeches which be has made, it may be inferred and
indeed it Is asserted by those to him, that the
change in the Secretarys plan implies no whit Of an
abandonment Of the policy so long and so steadily
pursued in preparation for full resumption on the
LIST of January.
1t said that the change the part of Secretary
Sherman simply resulted from a conviction that
he was pushing ahead too fast. and that
evidences OF this had been presented to
him within three or four days. 1t is
argued that every movement looking to re-
sumption is seized upon by the opponents of that
prnciIle and distorted to suit their views. In this
condition of affairs he wishes to do nothing that
may be represented as stranng the law and forcing
res1inoption in advance of the Will of Congress.
From the character of the Presidents reply 10 the
message sent to him, it is inferred that some OF his
advisers are weakening and are disposed TO trim to
meet the changed condition of the political atmOs-
phere; but if this is the nothing has transp-ed
to indicate whether these views were shared by the
four counselOrs named or only held by one or more
of them.
Secretary Sherman said on Saturday that the order
published on Friday evening contained in substance
his reasons for changing his plans. point has been
raised he said in certain quarters to his author
ity under existing law to pay out silver dollars for
legal-tenders prior to the date fixed by the Resump
tion Act January 1, 1879 For himself he has
ALWAYS held the view that the right to disburse
silver dollars involves the right TO exchange them
for legal-tenders but, as serious doubts have been
raised upon the subject, be has decided to rescind
the order recently issued to the Treasurer. 1t has
been reported that the Secretary has changed his
views on account of the opinion Of Attorney-Gen-
eral Devens. who arrived from his Western trip on
Friday morning: but Secretary Sherman sand that
Judge Devens was not himself entirely clear on the
subject and was not prepared TO say whether the
change of silver for greenbacks could be lawfully
made or not.
Upon being asked what means he should now take
To nut silver dollars into circulation. Secretary
Sherman said that he has full legal authority las the
dollars are complete ega -tcndeTS) to pay them out
for any obligation of the Government, even includ-
ING bOads aud that he shall them ont in regular
disbursements far creditors OF the Government
are willing to receive them He viii not, however,
force pensioners any particular class to receive
them. Secretary Sherman Is CONFIDENT that, under
rms system a very large amount of silver dollars
will be demanded for the payI ne NO 9t GUS Pnt
,neaus get into circulation he does not undertake to
conjecture. banker, no says, VIII be IN better
position to make an estimate than ne.
The Secretary has decided that all orders Ior
silver dollars under former circulars 10 TINS date
will be filed upon their arrival here nOtWithstand-
ing the order OF resembling.
A General Press dispatch says that circular
has been issued by Treasurer Gilhan which takes the
mace of oil circulars heretofore issued concerning the
standard silver dollar II 100 National banks as
desqunfed depOsOres 20 be supplied by the Treasury,
no5 heir application, with standard dollars from the
Mint free expense IL y expected mat TINS coin Wlll
be put 20 l,Sb4enis 10 BANS and BANKERS
and generally where it Is TO be used as current money
me Assistant TreasureFs Of the United Ststes are also
anthorised TO use the standard silver dollars In their
wants. Tor general purposes approved IN the circular
WASHINGTON NOTES.