The Portland daily press., 1879-08-26
Sherman on Ewing.

Secretary Sherman, in his speech at Steu-
benville Ohio, took up the speech by Gen.
Ewing which the Argus has been circulat-
ing in this State, and gave it a close review,
exposing its fallacies and falsehoods. First
taking up Gen. Ewing's talk Of ''silent mills,
fireless furnaces, scanty wages, want OF
work." etc., he showed by evidence that
cannot be successfully impeached that in
dustry is looking up on every hand, that the
furnaces are in full blast, the mills running,
the laborers employed, and quoted Mr.. Til
denis reported remark concerning the wave
of prosperity that is coming upon us. He
then goes on to the question of coin re-
serve, the utility of which has been ques-
toned, and shows the necessity of it and the
necessity of increasing it if greenbacks are
substituted for bank notes. Further consid-
ering Gen. Ewing's speech he shows the
great saving t. the country made by refund
ing, and proves by official figures that the
reason the interest charge in 1877 was but
S97,O00,0 900 was because it was not all paid
that year but carried to the next years ac
count, thus adding to the interest charge of
1878. He also shows that the actual saving
in the interest charge in 1878 and 1879 was
more than enough to cover all the double in
terest paid in the process of refunding-a
double interest due, it must be remembered,
to Congress. As to the expenses of refund
ing, the Secretary saved million dollars of
the amount appropriated by Congress for
the negotiations of the new loans. He also
convicts Gen. Ewing of suppression of
the truth by representing the bonded debt as
increased $S6,000,000, and suppressing the
fact that there is more than gold enough in
the Treasury to make it good.
AS to Gen. Ewing's claim of Democratic
economy Mr.. Sherman shows that the Re-
pn5licans steadily decreased appropriations,
while the Democrats have increased them;
that Democratic reductions at first were fol-
lowed by large deficiency bills, one reaching
over $15,O00,0 900; that the Democratic appro-
priations for 1879 were over S., ,000, 900 in ex-
cess of the estimates presented by Republic
can heads of Departments, and for 1880
were over S32, 100000; that while increasing
the appropriations the Democrats have re-
duced the revenues $S,000,000 by lowering
the tobacco taxa reduction that has not
reduced the price to the consumer cent
plug; that the Democrats have exhausted
the sinking fund for the payment of the ma
tional debt, SO as to disable the Treasury
from further reduction of the debt, and have
destroyed the fund for the redemption of
fractional currency. On the other hand the
Republican administration has made reduc
tions wherever it could, and has already sue
ceede1 in cutting down the expense of col
lecting customs over million dollars year.
Secretary Sherman goes on to consider the
national banking and the Southern ques-
tions, and the notification of the election
laws by the Democracy. These portions of
his speech we have neither time nor space to
consider now. But in this part as in all
other parts of his address he squarely meets
and oyerthrows Gen. Ewing clearly expos
ing the fallacies and ftleeilJJIs and half
truths uttered by that speaker.