New-York tribune., 1879-05-08
MIR. SHERMAN IN OHIO.
PUBLIC RECEPTION AT CoLUMBUs-MR. SHERMAN
NOT A CANDIDATE FOR THE GovERSORsHP.

MR.. SHERMAN IN OHIO.
PUBLIC RECEPTION AT CoLUMBUs-MR. SHERMAN
NOT A CANDIDATE FOR THE GOYERNORSHIP.
lBY TELEGRAPH TRIBUNEI
COLUMBUS, Ohio, May 7.-Secretary Sherman ar
rived here this afternoon, and met at the rail
road station by members of the Republican State
Committee and by local delegations of Republicans.
He spent the afternoon receiving friends at the
Mel House. This evening reception was given in
his honor by Ex-Governor William Dennison, which
was largely attended by members of the Eegisa-
ture. State officers and citizens Of all political
views.
When Mr. Sherman was asked if he had anything
to communicate about his becoming candidate
for the Governorshp, he replied: please state
II emphatically that have no desire to be 80 con-
sidercd. | ain not a candidate for the nomination
do desire to have my name used in connec-
ton with the Governorship." When it was init
mated that the Republicans might not consider
his wishes in that respect, but might nominate
him. AS was the case with Mr.. Hayesfour years ago,
he replied that he wished such a thing would be
discouraged as far as possible. The Republican
party he said might ask him to go barefoot to Gin
cinnati, but It would not follow that it would be
his duty to do so.
While Secretary Sherman appreciates the honor
which would be bestowed upon him, lie does not
feel that his labors in the Treasury Department are
completed and his desire is to remain where he now
is during the coming year. He has confidence that
the Republicans viii nominate a man acceptable to
all and that they will elect him by good majority.
Secretary Sherman serenaded at his hotel at
IL o'clock tonight. After brief Introductory re-
marks the Secretary said:
little over two years ago, when assumed the Office
I now hold the people OF the United states were dis
red with very important question For two years
ssuad q by the GoyernmeHt and National banks Three
or years before that time the people OF this coun
try had met with one Of those financial reyusions
which occur IN the history OF all nations. Men then
engaged In employment were suddenly thrown
out o employment capita invested IN Industries was
suddenly ost enterprises OF great moment were suC-
denly stopped by the panic; the poor became poorer
Two years ago, when assumed the office now hold,
the question came Which the best remedy for the
tnat the best policy for Us all was TO come
back to the specie standard, so that every
dollar In money I'm the hands OF the people wOnld be
represented by gold and silver coin. That was the law,
and was required 10 enforce IT. believe, honestly
thn the best policy for all rich and poor capital and Ia
nor was to bring paper money To the standard Of
gold This, believe was the only method to bring
rs mi of the panic believe thar honestly, but IrecOg
nze some among you who believe that not the right
course You believe the right course was to issue more
noper money and initiate currency to bring you reef
but had the advantage of having law ON my side and
was heat for you all lApplause.I Now did
the law, and that is all Che credit am entitled to- My
merits for simply doing my duty.
Now ellow-citizens, what has been the RESULT Your
nancy all equal to gold coin Your silver dollar Is
e"mn 70 gold coin although It's intrinsic value is less
United notes ana National Bank notes are always
at par with each other The result Is that all branches
of industry are improving. say 10 you that but for
travelling through the slough Of despond. LabOrers
were OF emptoymc mt capital was Idle, ana the Key
stone of the wnoe financial problem was TO bring
back to specie payments, was going TO say TO Demo-
cratic basis
to Dondholders in payment OF per cent Donds money
received from the sale OF per cent bonds Before re-
sumption we would have had TO pay IL In gold com.
but since resumption every dollar mas been paid IN
United states notes. Iho Whole trahsacli0n has
been accomplished BY the exchange OF per cent for
q ppr cent bonds. This has been done without dimin
ishng the circulation We have as much United States
notes and bank notes as we ever mad.
Ibceve in the future the aborng man will have
rleuty 10 do and capital will he had for low rates OF
interest This has been long struggle but all share In
The beneft of IL no what thought before the
result was accomplished. Since resumption our reve-
A1hongh the National taxes not higher, yet the
revenues have increased because business has increased
or two We nave exported nearly $3OO,0OO-
900. which is making our country richer and
that over eight hundred millions OF bonds were held
abroad whereas we now prGVG tnat Dr n one @ hundred
ready to pay these IN CON- lApplanseI
resumption our s77 R97c GsSt ssa has hard been
sell some Four per cent bonds, and people thought
was fool for trying it. & Yet | sold i,,"nl some
difficulty sn selling before prsnaEe Es'ump nnG
sS 5Sv the is Of January thus this
YEAR sI5OOOOOOO Of per cent bonds have been dis
"ad or winch means a saving of $l1 100000 in inter-
est every year.
The Secretary then referred TO politics and said
What we want fair election law, having additional
orers which will protect the purity OF the elections
snd not the leueal of those now have.
The Secretary concluded as follows:
Some of my newspaper friends have tried to make me
n candidate for Governor Of Ohio, hut ! hope
none OF YOU will for me IN convention or
before the people. | propose TO stick to
nv present place until the question of resumption
is settied bcyond doubt want 20 convince everybody
that the experiment of resumption success that we
con resume that the United States not bound TO have
ira notes bawked about AZ "a discount, put that
note of tho United Lay travel about the world,
yervyhfre received as equal to gold coin and as good
m any note ever issued by nation either in ancient
ar times.