The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1879-07-22
SECRETARY SHERMAN.
Arrival Of the Great Finance Minister
nj Philadelphia.
A short speech to the Members OF
the Maritime Exchange ON the
Henefits OF ResumptioB.

PHILADELPHIA, Pa, July l4-Secre-
tary Sherman, accompanied by COM
mittee Of the Maritime Exchange, the
Mayor, Speaker Randall, and other
Congressmen and well-known citizens,
went on board the revenue cutter Ham
ilton to-day, and started on the inspec-
ton OF the Delaware river and harbor.
This completed. the Hamilton will take
the Secretary along the eastern coast
on official visits.
After the party, which numbered
about sixty. had partaken Gf refresh
ment, VIM. Brockle, president OF the
Maratime Exchange, called the meet
ing and introduced Secretary Sherman,
who said:
GENTLEMEN: / did not expect, when
received your kind invitation, that i
would be called upon TO make speech,
and 1 do not understand that my
friends here desire me 10 make speech,
but / will commence by returning
thanks for the pleasure that have en-
ioyed in inspecting the shores of the
Delaware and witnessing the immense
growth Of this great city of Philadel-
phia, il presents "a combination of trade
or city IN this country, but, as those
points are quite familiar to you l will
not enlarge upon them.
In regard to the resumption expert
ment, my friend has paid me compli-
ments that are entirely exaggerated. j
do not desire any such compliments
a year or two ago I thought | was a
great deal too much abused 10y great
many, now / am praised for a great
many things | don't deserve. So i
hold pretty fair balance. j had an
idea when / assumed the Office / now
hold that il would be a good thing to
get back TO the resumption OF specie
payments. They say / am pretty stub
born about principles / hold to, and
that i will carry out what i begin. j
never had any doubt about our ability
TO resuine--none at oil. A great many
good men, some OF these no doubt.
who hear me, thought ii was not wise
undertaking TO attempt TO make the
vast volume Of paper money equal
to gold; that we did not coin enough
to do it. was the Judge and had the
law on my side, the power to bring it
about. and the determination to do 1t.
The result has been happy and benef.
cial TO all classes OF interests and all
industries, and the rich and poor
those who labor as well as those who
spend money--all are benefited by
currency such as we have to-day.
Now, gentlemen. / think / have said
oil need am very hopeful of the fu-
ture progress Of our country. We are
happily situated compared with other
countries. We have broad, upcult-
waited area of land that has never been
broken with the plow; we have mines.
compared with the enormous wealth
in which the vaunted mines Of Peru
were poor and scant. The Comstock
Lode and Others are greater than any
thing in the history of the world.
Two years ago labor was suffering in
the principle cities OF this country
Men were afraid our institutions could
not stand the strain, and would break
down, and that q period of depression
greater than that IN England, France
and Germany had come. People were
suffering aud could not get work, and
discomfort reigned supreme. Some
went TO the uncultivated lands in the
West, others went away, and migration
finally equalized the demand and sup
ply of labor, until now in two years, l
believe there is not any part OF the
United States where honest labor cam
not get an honest days work, and hon
est money TO pay for il. There are
those who held that our currency new.
or could 90 maintained equal TO coin
with n demand on ms OF $50, 900, 900 or
n To
now that we have the means; so rarely
do they care about gold or silver for
money that only $1,000, 900 have been
drawn for notes and greenbacks. This
is the strongest thing about it. Now
that gold is so easy 20 get nobody cares
TO take the trouble of carrying IL. II
is fact that in every month last year
and the year before and the year before
that there was more gold paid from the
Treasury than has now been demanded
from the first Of January of this year
to the present time for ali purposes,
and our notes, instead OF being at ten
| or fifteen per cent. below par now that
we have gold and silver 10 pay them on
demand, are actually at a premium.
The Treasury department in San Fran
cisco wanted notes instead Of gold, and
We refused to give them greenbacks.
In New York and Philadelphia no one
wants gold. When they couldn't get
1t, everybody wanted u When they
! can, nobody does. Resumption rs now
| a fixed fact, but we have got to stand
| by and not let demagognes and trick
sters cheat us ont OF what We have nc
complished.