Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-09-17
sition to the Republican party must combine
and not fritter away their strength by
divisions. A union which secures such a
victory will be victory for all concerned.
ANOTHER OF sHERMAN,s TRICKS.


Another of Pirate Sherman's tricks to ben
eft the money-speculating sharks of Wall
street has just been played. On the 9th of
the present month he announced that he
would issue standard silver dollars in ex-
change for greenbacks in sums of
ISL 900 or any multiple thereof. The re-
sponses that came from the West and South
were complete refutation of his oft-repeat-
ed allegation that the people did not want
the silver dollar. In five days the orders
amounted to nearly the whole amount now in
the treasury vaults. This didn't suit Sher-
man. It exposed his dishonesty convicted
him of deliberate lying. So the order was
changed and he asserted that he would sell
only to certain designated repositories.
But even with this limitation
the responses were too numerous to suit
him, and he has now found another excuse
for going back on his agreement. He finds
that the resumption act of 1876 gives him
no authority to exchange coin for green
backs before the first of January next, and
he has withdrawn his last offer, but an
nounces that he will pay out silver to claim
ants for pensions and in payment of other
obligations of the government.
Sherman's scheme is too transparent. His
purpose in his first announcement was to
glut the Eastern market with silver and Gre
ate instability and depreciation of its
value. But the orders coming from the West
and South, where such money is needed, Civ
ing promise that the silver would be
equally distributed and absorbed in the legit-
innate channels of trade, he has changed his
mind. His present plan promises to be
more successful in Quitting the market in
one especial section, and perhaps awakening
dislike to it. Then his variableness has
aroused distrust, and has given stimulus
to speculation. This is what his purpose has
been. From beginning to end of his fnan-
cial career it has been his policy to promote
speculation in the money of the government,
and to effect this he has studiously employed
his Office to cast discredit upon one or an
other issue of money or bonds-to build up
one at the expense of another. AS tool of
the bondholders and money spectators he
has been brilliant success; as the friend of
the people and the defender of the national
credit he has been a conspicuous failure.
Had Mr.. Sherman so desired he could have
placed every dollar of the silver coinage in
circulation ere this date on the conditions
prescribed by law. But this did not suit
either him or his Wall street partners, and by
prevarication and evasion of the law, amount
ing almost to downright violation of it, he
has succeeded in piling up a hoard of silver
which, if suddenly thrown upon the market
would inevitably cause inconvenience and
perhaps depreciation. just when he will
liberate the sixteen millions of silver dollars
he now holds it is impossible to tell. He
will not give warning, nor have
we any reason to believe from his
past course that he will exercise
that judgment that is necessary in placing il
where it is most needed, and where it will
cause the least disturbance of the money
market. We have rather cause to fear that
whenever and wherever it will create the
most inconvenience or instability in values
it will be forced upon the people. The
people have reason ITO sigh for financial
secretary possessing both wisdom and hon
esty-qualities that the Pirate Sherman con-
spicuously lacks.