Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-11-03
PIRATE SHERMAN.

Attempted Justification of Ruinous Finan-
cial Policy, With q Plea for Revival of
the Animosities of the War.
HARRISBURG, Nov. 2.-Secretary Sherman
made speech here tonight. He said the re-
bellion had been crushed, but the spirit which
animated it had not been cradicated and today
millions of people in the South were denied
their rights, declaration which would be veri-
fed by the elections Tuesday next. Ku-klux
marauders had roved over communities, driven
negroes before them and committed MANY
murders for opinions sake, and now as effec-
tive, but mllder 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 a 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
toral votes of three votes and the people would
never be satisfied until they got at the bottom
OF the villainy. He hoped Congress would
push the matter and ferret out all the guilty,
and the result would no doubt show ore Dem
ocratic frauds.
Secret Y Sherman discussed the fnan-
cial quee ion. He was in favor of
the lar.;eEt possible amount of paper
money that be maintained at par
with gold and silver coin. The Republicans
were true Greenbackers inasmuch as they be-
heved 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 99M,
and on the 1st 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 greenback made equal with that of gold.
be said this country had more paper money
than any other in the world, gagged by
population. The difference between the Re-
publican party and its opponents was that the
former advocated convertible greenbacks and
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
1t a benihcent 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 Sl4l, 1913 1876 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 panic to which
that of 1878 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 geese that lays the golden
government.
Secretary Sherman closed by referring exult-
ingly to the large increase of exports over i'm
ports, pure indication of returning pros
peritY.