The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1878-09-19
SHERMAN WEAKENING.

SECRETARY SHERMAN is beginning to
pursue wavering policy, which indicates
that he is by no means master OF the sit
uation or that he is proceeding solely for
the benefit of The republican party. Sher-
man has undoubtedly trimmed his sail
to meet the breeze which blows from
Maine. He was at first very much OPP
posed to the reconciliation OF silver. The
bill went through both houses OF Con-
gress with rapidity which showed
contempt for the veto. and just then
Sherman discovered that it was q blessing
in disguise. In that he trimmed to meet
popular opinion. The Secretary then
sought to keep the silver dollar from
circulation, in fact was boarding silver
as a breastwork for gold. The repubh-
can party was in danger of stirring up
strife by this proceeding, and Sherman
again trimmed. He now strains every
effort to get the silver dollar into circul-
alton. First he endeavored to meet the
popular demand that as silver Was legal
tender it should be allowed to circulate,
by redsensing in silver, thus anticipating
the resumption law and complying with
the clamor that silver should not be
boarded. Greenback mutterin gs grew
into roar and Maine spoke with loud
voice. Again Sherman found that the
interests of the republican party required
further concessions to the greenbackers.
The circular authorizing the exchange of
silver for greenbaclls and national bank
notes is rescinded and another issued
naming 100 National Banks as deposi-
tories of the United States, to be furnish
ed with standard dollars on application,
the government to Pay the transporta-
ton. The secretary has also decided to
pay ont silver for the expenses of the
government. Here is complete change
of policy from an earnest effort to with
hold silver from circulation TO ali intense
anxiety to get it into circulation.
Almost simultaneous with this an
nouncement comes the disquieting news
that the Secretary, through fear that If
| the greenbackers are not conciiated the
republican party will suffer, has about
! concluded to ask that the time for re-
sumption be postponed for short time.
In view of the trimming already done by
Sherman we can not entirely refuse Gre
! dence to this report. 1t Is not IN the
interest of the country that this is really
asked but in the interests of the party
whose head Sherman is. Pie very dan
| gers which are now offered as an excuse
/ for this abandonment, were foreseen by
Sherman one year ago and he was pre-
pared to meet them. 1t is now said that
resumption may not be maintained on
account Of the want of confidence III the
next congress. If the greenbackers views
will prevail in legislation, gold will ad-
vance III price, and with this prospect the
national banks viii present every green
back they have for redemption and thus
drain the treasury Of gold. Wei, one
year ago Sherman would have presented
every dollar issued by the national banks
to them for redemption and thus bring
the gold back to the treasury if that game
~,-~s attempted Nov lie sooa danger in
it and he trims.
What will republicans say if this proves
true, as there is every probability that it
wiIR When it was popular to favor re-
sumption the republican party was
staunch. When the greenbackers show
unexpected strength the republican party
after loud protestations, shows q DISPOSE
ton to weaken and go to the opposite
extreme; at least, such DO the waverings
of Sherman indicate and Sherman shapes
the financial policy Of his party.