Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-05-06
SECRETARY SHERMAN.
Welcome Home by His NeighbOrs-Self.
Qualification at the Operation of the Re.
sumption Act.


sumption Act.
MANSFIELD, O., May 5.-Secretary Sherman
arrived this morning and took rooms at the St.
James hotel. He was visited largely in the
forenoon by citizens of all parties. In the
afternoon he visited his different properties in
this city and vicinity on tour of inspection.
In the evening he was serenaded at his hotel,
when he appeared and made the following
speech, large crowd being in attendance:
am very happy to be again in your midst,
to see your faces, and to greet You as friends.
The shaking of your hands is more grateful to
me than the music of bands or any parade. I
never felt before like making an
apology for coming before you till
now. I found when arrived in my old home
the papers said came West seeking the nomi-
nation for Governor. l came purely on private
business, to repair ruined fences and look after
impaired property. did not expect to make
a political speech, or refer in any way to polit-
ical questions. However, as you have seren-
AIDED me tonight I shall seize the opportunity
of speaking fully on two of the
GREAT QUESTIONS
now discussed throughout the land. They are
questions of Importance to all the people, Re-
publicans, Democrats and Nationals. You
know, fellow citizens, that two years ago when
public square, portion of my speech was
about the resumption Of specie payments, stat
ing if we could go back to gold, there would be
the beginning of prosperity. Then loss fol-
lowed loss and failure followed failure and
gloom generally prevailed. I believed
of our fathers and start afresh on a gold basis
supported by greenbaoks and national bank
notes, prosperity would again return. It be-
came my duty as the executive officer to carry
out this policy, and one year ago had in front
of this hotel on this same store box, or one very
much like it, to present to you the desirabillty
of the result of resumption. On the LIST day of
January, 1879, this
IMPORTANT MEASURE WAS ACCOMPLISHED.
Every dollar you had in your pockets then be-
came worth dollar in gold. Since that has
been accomplished, come here to ask you the
question, Are you not satisfied with the result?
Do you not think resumption has been bene.
fetal to you all to-day? A man may travel
where he pleases, greenbacks are as good as the
money of any nation on the globe. What has
been the result of the policy Of resumption?
Many thought, as the day of resumption ap-
preached, that dependency and bankruptcy
would follow, whereas there has been
ADVANCING PROSPERITY
throughout our entire land. I am told that
your shops in Mansfield are again in operation,
ana IT Is so everywhere. Inc result Is, labor ID
plentiful, capital finds secure and safe invest
ment. In New York city just the other day
heard of all manner of schemes being origi-
mated by capitalists for the investment of CAPT.
tai that has been idle since the panic. The
public credit IS now better than at any
time in the history of the country, strange to
say. Since the first of January there has been
sold seven hundred and fifty million dollars
of 4 per cent. bonds, they were sold at par in
gold, and the last million and half was sold
at premium of a per cent. We have saved
to the people Of the country in interest
$75, 0OO, 600 since the present administration
has been in power. It has saved the country
fourteen million dollars. This saving has
benefited alike the
RICH AND POOR.
The credit of the nation has also steadily
advanced, and there is no nation in the world
can borrow money at as favorable terms as the
United States of America. To-day the per
cents. of the French empire are worth but "a
cents, less than par. Our bonds are quoted
higher than that of any other nation, except
perhaps, that of Great Britain. This is
SO because this country has kept
its faith with the world. Now, the rich are not
the only bondholders. The man of modest
means can purchase bonds Of any denomina'
tion that he may choose, at any money orde1
postoffice in the country. Both the bonds and
certificates are eagerly sought for. They are
held by every class in the land.