The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1878-03-22
BAYARD On SHERMAN.
Trimming his sails 10 Catch the
silver Breeze.

WAsHINGToH, March 2l.-Senator
Baysrd, speaking to-day of Sherman's sd-
dress TO the Finance Committee yester.
day, SAYS that It was 8 clear and uncon-
tItIOnaI surrender, without sufficient
reason. u have watched, said ne, "the
course OF John Sherman with close inter-
est, and must confess that 1 have never
been able 10 obtain from rim any we'll
defined and positive views upon any
financial measure. He is simply trim
ming MS sails, as ne mas done on every
former occasion within my recollection.
He appears 70 conceds the
whole question TO the silver men be-
fore there mas been an adequate test TO
the merits OF the law that would natur-
ally arise out OF the relative yslaes OF the
two metals. When the Resumption Act
was pending he took very different views.
renem Der very well when that was
before the Senate. f. was not reported
from the Finance Committee, but came
directly from the Republican caucus. I
have always been in favor OF q specie
OASIS, and was not willing TO say any
thing TO antagonizs the measure, a.
though thought that positive views
should be expressed before the bill
passed. They were not gwen 70 my
satisfaction, and hence l did not vote
when the bill came up. l tried then 70
have Sherman state whether ne thought
that a reissue OF legal tenders would De
necessary under the bill. he lodged the
question in such vav that l could have
TO confidence in the bill, aud must say
that his course since then has not raised
him any in nv esteem Of his consistency.
He lett the impression very vcguely that
reissue would not be necessary, but MS
remarks were qualified; and yesterday
he took the ground that reissue of
sS00OU0,000 green backs would be
necessary to keep resumption alive.
he repudisted his former views
against the proposition TO receive legal
tenders IN payment of duties. When
the &C. of February 25, 1862, passed tho
Senate, every body remembers that Sher-
man explained that under the laE gold
must be used TO pay the interest OF the
debt, 20 establish sinking fund, and
meet the principal of the dsbt as escn
Issue OF bonds fell due. There we're
three propositions: First, to collect the
customs in god coin; second, 70 pay the
principle and interest Of the bonds n It;
third. 20 pay frat the sinking fund, and
then the interest on tae debt IN gold coin.
he mas repeatedly coItended that
any attempt to pay duties IN any
thing but gold would be violation
of the organic law. Now ne comes
forward, and by act proposes 70 dispense
with the CCin certificates used IN pay
ment OF duties, and substitute legal ten
ders. There Is, of course, this much 10
be said: That If resumption IS possible
on the drst of next January, or on the
first OF October, as he saws, and legsl
tenders can be made equal 70 gold on de-
mant, there Caa be no valid objection
TO the payment OF duties IN iega! tenders,
gold and gold certificates; but while THIS
matter Is still 81 experiment, It IS clearly !
inconsistent for Sherman - advance the
idea that paper can De used for gold,
when he once opposed any suca idea
so streRuously. It IS, IN my Judgment,
IN absolute surrender.
Cor-e.poudent-Did be give any idea
when ne could make the gold sut silver
dollar slLs n value
Bayard-NO, none That was sa:istacto-
~. A: present the !sw makes them
equal; but in tact and eq lity the ratio IS
eighteen ounces ~ one. he said N an
indefinite way that ae oelleveG It could
pa done on the basls Of Atty millions IN
SILVER. he vas not positive. be never
is. De simply views IL IS possibility.
Now, we can easily coin tnat amount IN
a single year, and ne appears TO think
that IL time the value OF silver will rise
on account OF It's scarcity, aud tnat the
volume Will practically be IaEge enough
70 dismiss gold from further sef7ice. II
seems 20 NE that sll this Is the widest
conjecture. Sherman !s cow anxious -
tri:t With the tide, and. EsyIng 90 clear
" defined opInol, Vi. lake position
tnst Is calculated 70 place lin n synps-
thy with The silver faction. dis conies-
sion that the passage ot the Silver BiiI
viii add speedy resumption san IllustFa-
t5on OF this.