The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1879-08-20
WENDELL PHLLIPs.

"a Nation of ACKNOWLEDGEMENTS a
Sherman Northumberland of La
bor-spicy sfalk.
BosToN, Aug. 12-Wendell Phillips has
just written letter to Scion Chase explain
ing his views on the present financial condi-
reply to Secretary Sherman's great speech IN
Portland, which has been SO widely circu-
lated. He arraigns the entire conduct of
the Republican leaders for the past 10 years,
and especially their neglect of the negro in
the South. He thinks that his prophecies
in regard to President Hayes Southern pol
icy" have been fulfilled, and that the party
is now in Its decadence, which he attributes
to the breaking of all its most sacred prom
ises. mo party in our history" says he,
'has ever fallen from such a height or to
such depth of disgrace"
finances of the Government since the war, he
continues:
THE NATION BANKRUPT.
What Is its result? In 1866 the property
of the Nation was estimated at $25, 900 000,-
600. In the opinion of the best judges the
Nation is bankrupt to day. That is, if called
upon to-day to pay its National, State, city,
county, town and corporation debts, and for
that purpose its property sold at present
values, there would not be realized from
such sale enough to pay those debts 1t the
property could be sold at Its real worth,
amply would it pay our debts. But, if sold
at the prices to which Republican folly has
reduced it, we are bankrupt. Prices
the world over were never SO low as now.
Yet our producing classes are so unable to
buy what they produce, and there wages are
SO low, that we are forced TO export to find
Market and our exports exceed our imports,
a very rare thing in our history. Were it to be
so when fair prices ruled in the worlds
markets there would be great reason to
rejoice. But when Nation only keeps its
spindles moving by selling goods to foreign
Nations at cost, or even below cost, or senSs
its products abroad because its people are TOO
poor to buy or use them-as Ireland has
done for a century-such fact means loss,
not prosperity.
For the first time in our history Legisla-
lures and conventions have spent weeks in
discussing "Tramps." So many thousands
of unemployed men, and SO many more on
the verge of want, that in the United States
the masses are dangerous, as in Mexico,
Italy and SpaIn What wickedness and
folly have called this element-so disgrace
full to the Government that creates it-into
our streets? The administration which takes
busy and prosperous country and turns it
into land of bankrupts; its streets full of
men begging in vain for work or driven at
the point of the bayonet, as in Pennsylvania
to work at starvation wages; with 200, 600
men in America rotting into criminals; our
highways and country towns, for the first
time IN our history, shrinking from the sight
of stranger, and our courts constituting every
stroller into ruffian-such an administra'
ton provokes only contempt and indigna-
ton when it comes before the people and
expects anything but the gravest condemna-
ton.
We have been ruled by conceited and
shallow demagogues, made willing or 1gno-
rant tools by grasping capital, ruled by
Rothschild and Belmont, Gould and the gold
room, cajoling Congress and using our funds
as speculative kites to serve their selfish
ends; ruled by what Chatham called the
''cannibals of Wall street," merciless Shy
locks laughing at the ease with which they
have cheated our bank presidents and Boards
of Trade: cooliy killing the goose that was
laying the golden eggs. and leaving gulled
presidents and boards astonished at the Jug
glers who left them table of empty cups
while their own pockets were full of gold.
But Mr.. Secretary Sherman says that we
are not ruined. Business is still alive and
seems reviving" But, my friend,
1t is as impossible to answer John Sherman
as to find fault with a weathercock. That
can always claim that it points the way the
wind blows, aud so can he. There is no doc
trine in finance that he has not advocated,
and none that he has not denied; no princi-
pie on either side that he has not asserted,
none that he has not secuted. His record
carries the day or we Greenbackers succeed.
''HAvE WE RESUMED"
Another bold-faced Munchausen liz Sher-
mans assertion that we have resumed. He
knows perfectly well that in this matter the
administration has "kept Its promise to the
ear and broken it to the hope" He knows
that in the sense in which Congress ordered
resumption and hard money men threatened
and expected resumption, and as what they
are fully resolved to finally make resump-
ton, it his never come, and that no Govern
meut would have dared to attempt it. The
Greenbsckers claimed and proved that at
any time during the last five years Govern
ment might have resumed If 1T would let
the greenback live and be receivable at the
Custom House. The hard money men scout
ed both conditions, and proudly proclaimed
they would resume on the grave OF the
greenback. When the time came they sub
mitted gladly, like coy maideDs, only
too glad to be conquered,
to re-issuing the greenback, and
Sherman himself violates the law every day
in ordering them to be received for duties.
He knows that he is obliged to do this; that
without it resumption would be q failure.
Only by submitting to the superior wisdom
of their opponents, and also by violating
their own absurd and wicked legislation. are
they able to-day to play this farce of re-
sumption. Hypocrisy has been well-defined
as 1.-The homage vice pays to virtue" So
this cunning trick of the bankrupt Republi-
cans is stealing the livery of Heaven to
serve the devil in. I do not ask men to be
lieve in this strange theft on my assertion.
The Philadelphia Ledger, whose money arti-
cles are known to be inspired by one of the
strongest, ablest and most successful of our
banking houses, roundly and distinctly tells
Sherman that he has not resumed.
In Portland, with cool impertinence, II II
were not, rather, heartless cruelty, Mr.
Sherman wishes you to forget that by this
delay of resumptions in: the vain effort to
crafty their caprice-a caprice the stern ex
pertinent of reality obliged them at last &c
surrender-when by receiving greenbacks at
| the Custom House il might have come
equally well in 1875, thousands of merchants
have been made bankrupt, business ha:
been ruined, property destroyed, the Nation
made bankrupt. and thousands left idle te
| rot into criminals.
| OPPRESSION OF LABOR
This tyranny of the money. which breaks