Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-11-04
PIRATE SHERMAN.
Attempted Justification of Ruinous Finan-
cial Policy, With q Plea for . Revival Of
the Aninosities OF the War.

cial Policy, With Plea for Revival of
the Animosities OF the War.
/ HARRISBURG. Nov. 2.-6ecretary Sherman
made speech here tonight. He said the re-
bellion had been crushed, but the spirit which
animated it had not been eradicated and to-day
millions of people in the South were denied
4 their rights, a declaration which would be yeri-
fed by the elections Tuesday next. Ku-klux
i marauders had royed over comm unities driven
negroes before EN- and committed many
| murders for opinions sake, and now as effec-
tive. but m,lder sort of intimidations pre-
| vailed for three weeks in several States. The
Democrats had been terrorizing negroes to pre-
vent them voting their opinions.
! Reference was made to the Anderson-Sher-
man letter, which was pronounced forgery,
/ known to prominent Democrats, who had sup
pressed the fact to his injury. According to
the cipher dispatches, the secretary said the
Democrats had endeavored to obtain the cleo
torai votes of three votes. and the people would
never be satisfied until they got at the bottom
of the vilininy. BE hoped Congress would
| push the matter and ferret out ell the guilty.
and the result would no doubt show more Dem
Ocratie frauds.
| Secretary Sherman discussed the fnan-
cial question. He was in favor of
the largest possible amount Of paper
money that can be maintained at par
with gold and silver coin. The Republicans
l
lieved the greenback should be made as good
as gold. He rocked the greenback in its
| cradle and witnessed its growth into great
giant, and he had great respect for it and it
| had increased in value from 40 cents to $685.
and on the LIST of January it would be worth
as much any gold dollar since the panic of
1873, and the passage of the resumption act
| business had gradually improved. 1t was to
the interest of the laborer, the mechanic, farm
er and merchant to have the purchasing power
| OF the creenback made equal with that of gold.
He said this country had more paper money
than any other IN the world, gauged by
population. The difference between the Re
publican party and its opponents was that the
former advocated convertible greenbacks und
the latter unconvertible. He thought the
masses of greenbackers were honest in their
views, but they had disregarded the lessons of
| nature. He had been abused for his connec-
ton with the resumption act, but he believed
it a benifcent measure. Every promise made
when it passed has been fulfilled. Fractional
currency had all been retired, and now larger
amounts of silver coin had taken their place.
Although there had been gradual retirement
Of United States treasury notes there had been
| an actual increase of currency. No one had
been injured by the resumption act, but much
good accomplished. There were now in the
treasury $14l 1888, 1856 with which to carry out
| the provisions of the resumption act, and he
had no doubt the process would work smoothly.
The good sense of the people would
not wipe the National banks out Their
sudden abolition would cause a panic to which
that of 1873 would be no comparison. The ma
tonal banking system was the best ever devised.
To compare the State banks with the national
banks would be like comparing the wigwam to
| the handsome mansion. To wipe them out
would be killing the goose that lays the golden
eggs, az they furnish millions of revenue to the
government.
Secretary Sherman closed by referring exult-
ingly to the large increase of exports over i'm
ports, pure indication of returning pros
neritv