The daily gazette., 1879-07-31
From the N. Y. World.
what Manner of Mon Ii Mr.. Dher.
mRuf


Congress upon the condition Of the ma
tonal fnauces,or to express bis own opin
ion respecting the best financial policy for
the nation to pursue in the future, there
would have been no provcsation In the
step to personal criticism. But when he
abuses his position a. Finance Minister
ofthe United States to impute dishcnor-
able motives and purposes to the Con-
gress Of the United States, reasonable
intentions to the people who dwell In 30
large q part Of the territory Of the UNI.
ted States a. Is covered by the Southern
which Il largo enough to embrace quite
One-half OF the voters Of the United
States, 1t really becomes necesSary to In
quire what manner Of maa he Is who
thus arraigns the characters Of . prob
able majority Of his cOuntrymsu and in.
diets one-half = nation. Good may come
out Of these uttsrancss Of Mr.. Sherman
ia Maine IL the eye, OF the South shall
be opened BY them to see y hat its fate
will be II Mr.. Sherman or any Republican
like him IL made President 10 1851. Good
will come out OF these uttsrauces II the
South, IN order to avert such calamity,
will but carefully look about to see what
interests in the Democratic party of the
North II hadlbest strengthen and build
up to the front In 1880.
What Is the man who thus described
at Portland the intentions of the Demo.
cratic party?-
"The evident purpose of those now do.
minating In th. Democratic party is to
behttle aud degrade the National Gov
ernment, to elevate provincialism above
nationalism, to weaken the tie that bi nds
this vast country into nation, 80 that
tho winds aud the waves Of faction may
beat upon 1t and sbatter it. A few Dem.
Ocrats from the North, elected upon any
false issue or artifice whatever, give
them, with the solid South, the control
ate and House. Through the caucus,
| conducted In secret and controlled al
| ways by the most violent men, in which
the solid South has the majority, they
tOpe to rule this whole country aud sap
and mine all the strong foundations Of
the power hnd au hOrity upon which the
| National Government rests"
What Is the man who said In the same
place that the Democratic party propose
to violate the conditions of the obliga-
ton OF our national debt "and place the
Omitted States of America In q far worse
position of dishonor and repudiation
ethan Mississippi or Louisiana, or Egypt
or Turkey? Ia none of Mr.. Sherman's 3
speeches In Maine have we seen single
| sentence even of manly and honest allu-
sion to the great body Of Eastern and
Atlantic Democrats who have stood hrm
and foremost for the last fourteen year.
in the battle for honest money. What
manner Of men, we. repeat, As he who
from the beginning to the ending Of his
Maine speeches stigma,ized in evasive
phrases but yet with a clear intent the
entire Democratic party IS entertainiAQ n
deliberate purpose to emit more ire.
Jesmable paper currency and to pay of
Shefmsn entered the Senate in 1851
after having previously served eight
years in the House. He was reelected
to the Senate in 1867 and again in 1873.
In 1867 Mr.. Pendleton oinulged in the
State campaign of Ohio project to pay
off the five-twenty bonds in deprecated
paper currency, which project Eastern
Republicans later on came to call "the
after the idea was emitted it had intoxi-
Gated nearly the whole State Of Ohio
During December Of that year Mr..
Sherman made q report from the Senate
Finance Committee respecting the re-
funding of the bonds at lower rate Of
interest,in which he approvingly repeat
ed all the arguments Of Mr.. Perdleton.
He distinctly held up to the holders of
those bonds the threat that If they did
Congress would adopt the "grsenback
swindle." The Senate at that time re-
jectsd Mr.. Sherman y bill and the SWIM
die. But in tho next February he again
boldly committed himself to both. Here
is a specimen of the language which he
then used to the holders of the five>
twenties:
"we will give each of you at your
option this form Of security in exchange
for that which you now have. IfyOu
accept this offer by the 1st Of November
tiOns; II not, you stand upon your exist
ing right, and all questions affecting it
shall be postponed until the next session
of Congress.
Near the close of this same speech he
further said:
The bill does not provide for rejec-
ton of this offer; but repeat, II 1t Is re-
jectod will not hesitate to vote to re-
deem maturing bonds In the currency
in existence when they were issued and
with which they we're purchased"
Upon this, gold rose from 1873 to 184,
and two Republican Journals in this city
commented on the attitude Of Mr.. Sher-
man. The EUening Post said:
ave may safely assert that no action
yet taken BY politician, either Demo-
cratic or Republican, has inflicted such
serious injury upon the credit of the
United s. ates, or rendered moro certain
and necessary . reorganization of pOiti> :
| cal parties as soon as the exlgencies OF
reconstruction shall render such changes
possible"
The New York Times OF January 30,
1868, used this language:
"The moment 1t became known that
the committee intended to present such
Q report there was q general apprehen-
sion in financial circles that 1t would de.
press the value of government securities
It was day of general rejoicing among
the BEARS"
Mr. Chittenden, who was Treasury
Register, when the bonds we're issue,ii
wrote to the New York Times over the
signature Of "Adir0ndack:"
"lf any body but the Senate Finance
Committee had grouped together such .
mass of wrong assertions, SO ingeniOusly
deceptive, and withai by the assumption
of these flase premises putting such Z
powerful argument into the mouths oi
repudiators, should be warranted In
character zIng 1t as a wicked attempt to
misiead the country by the statement Of
facts knO wn to be untrue"
This was the patriotism, this was the
Integrity, this was the craftsmanship
this was the financial sagacity in 1857
six years before the panic, Of the man
who now deuounces the Democrat {
party as hostile to the national credit
Fortunately he could not carry the
country with him. The "idea of OHIO
began to flicker in the air, and Mr.. Sher
man, seeing from that quarter the wind