Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-07-08
rades in arms their just deserts; Sherman
was not soldier and therefore seeks to de-
fraud them, for he has no conception of the
sacrifices they endured
FEW QUERIES FOR SHERMAN.

sacrifices they endured.
Il FEW QUERIES FOR SHERMAN.
Mr.. John Sherman, secretary of the treas
ury, is going to Maine and Ohio for the pur-
pose of speaking on behalf of the Republic
can candidates in those States, and paving
the way for his own nomination for the
Presidency. He is a fluent speaker, and
knows well how to make the worse appear
the better cause. There are few things,
however, with which he ought to be familiar,
that the people of the country at large would
like to have explained, and he mny seize the
opportunity afforded him by these speeches
to give us little light upon what are now
regarded as exceedingly dark subjects.
In the first place, no one has ever fully un-
derstood his resumption policy. Why did
he deem 1t necessary to so far contract the
currency as to seriously obstruct business
and ultimately plunge thousands of business
men into bankruptcy and ruin ? While
protesting to believe that gold would not be
wanted-and the result proved that
he was correct-he boarded an immense sum
in the treasury as reserve, and at the same
time withdrew all the greenbacks he could
lay his hands upon from circulation. How
does he reconcile this course with the law
forbidding him from contracting the cur
rency, and how can he hope to secure the
support of men who have been ruined by this
policy?
How can Mr.. Sherman excuse his course
relative to the funding of the public debt
1t is notorious that he sought to make ma
jority of the capitalists of the country be-
lieve that there were four per cent. bonds
enough for all emergencies, while he knew
that few of his pets composing the syndi-
cate were making arrangements to gobble
up the whole lot and compel the national
banks, that are required by law to have the
bonds as security for their circulation, to pay
large premium. Not only that, but
he allowed the syndicate the largest
commission permitted by law, besides Civ
ing them an additional percentage in the
shape of accrued interest. He knew the
national banks needed the bonds, but in
stead of giving them warning in time, he
played into the hands of his pets and al
lowed them to exhaust the whole supply,
amounting to one hundred and fifty millions,
in single day, and reap profit of fifteen
millions.
Another matter that the public would like
to have explained is why Mr.. Sherman allows
the funds of the government to remain in
the hands of few favorite bankers in
amounts in excess of any probable or pos
sible needs of the government in the cities
where such depositaries exist. Not only
are the bankers permitted to use the funds
of the government for their private bust
ness speculations, but they have even used
them to purchase the bonds of the govern
ment, and thus draw double rate of in
terest.
Will Mr.. Sherman also tell US why he has
outraged public decency so often in the ap-
pointment of men to Office under him, who
were notorious for their perjuries during the
electoral contest, in 1876?
And finally, while he is in the explanatory
mood, will Mr.. Sherman say why he persists
in keeping balance of money on hand in
the treasury which is wholly unnecessary,
ard might be used in the purchase of inter-
est-bearing bonds ? His course seems to
have been dictated by desire to increase,
rather than diminish, the public burdens.
He has afflicted the poor that he might favor
the rich, and sacrificed the interests of the
government that his favorites might reap q
profit. He must make these among other
explanations before the people, even of his
own party, will consent to vote for him for
the highest Office in the gift of the nation.