The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-07-15
SECRETARY SHERMAN.
Not BaiIding Fences This Time, but In.
speeting Rivers aud Harbors, and
speaking on Resumption aud lis Good
Fruit.

speaking on resumption ana LIS G0Ou
Fruit.
PHlLADELPHIA, July l4,-secretary sher-
man, accompanied bya committee Of the
MARITIME Exchange, Speaker Randall and
other Congressman, the Mayor and sever.
al well known citizens, went on board the
revenue cutter Hamilton to-day and start.
ed on an inspection OF the Delaware river
and harbors.
After the party, which numbered about
sixty, had partaken OF refreshment VIM.
Brockie, President OF the Maratime Ex.
change, called the meeting TO order and In.
troduced Secretary Sherman, who said:
did not expect when received
your kind invitation that would be call.
ed on TO make q speech, and I do not un.
derstand that my friends here desire meto
make one, but ! will commence by re-
turning thanks for tile pleasure that
have enjoyed in inspecting the shores OF
the Delaware and witnessing the immense
progress and growth Of commerce In this
great city oi Philadelphia.
II presents combination OF trade and
commerce that know OF In no other city
In this country, but as these points are
quite familiar to you will not enlarge on
them. In regard 10 the resumption ex-
pertinent my friend has paid me compli.
ments that are entirely exaggerated. lido
not desire any such compliments. A year
or two ago ! thought was a great deal too
much abused by great many. Now,
am praised for great many things / don't
deserve, so hold a pretty fair balance.
had an idea when assumed the Office
l now hold that 1t would be good thing
to get back to resumption Of specie pay.
mepts. They say l am pretty stubborn
about the principles ! hold to, and will
carry out what 1 began. ! meyer had any
doubt about my ability to resume; none
at all. A great many good men, some OF
them no doubt who hear me, thought II
was not wise undertaking TO attempt 10
make vast volume ot our paper money
equal TO gold; that We did not coin |
enough to do It. j was the Judge. l had the
law on my side; the power to bring about
and determination to do 1t, The result
has been happy and beneficial to all classes
of interests aud all industries, and to the
rich and to the poor, those who labor as
well as those who spend money, all are
benefited by currency such as we have |
now.
Gentlemen, / Think / have said all need.
| am very hopeful Of the future Of our
country. We are happily situated, COM
pared with other countries; we have a |
broad uncultivated area Of land that has |
never been broken by the plough we have |
mines compared with the enormous value |
Of which the vaunted mines OF Peru were
poor and sCant. The Comstock lode and |
others are greater than anything in the |
history OF the world. Two years ago labor
was suffering in the principal cities. Men
were afraid our institutions could not |
stand the strain and would break down,
and that period OF depression, greater
than that in England, France or Germany
had come; the people were suffering and
could get no work; discomfort reigned
supreme. Some went to the unoultiVated
lands in the west and others went away.
Migration finally equalized the demand
and supply OF labor, until now now, in
two years, believe there is not any part
Of the United States where honest labor
cannot get an honest days work and
honest money 10 pay for it. There are those
who held that our currency never
could be maintained equal to coin with a |
demand on the United States OF eighty
or ninty million dollars year. can say
TO you now that we have the means, so
rarely do they care about gold or silver
for money that only seven million dollars
have been drawn for notes and green.
backs. This Is the strangest thingahout it |
now that is so easy to get, nobody cares TO |
take the trouble Of carrying. It is fact |
that in every month last year and the |
year before, and the year before |
that, there was more gold paid |
from the Treasury than has now
been demanded from the. first
Of January OF this year to the present
time, for all purposes, and our notes in
stead OF being ten or fifteen per cent be- |
low par, now that we have gold and silver
TO pay them on demand, are actually at |
premium. The Treasury Department in |
San Francisco wanted notes instead OF
gold and We refused 10 give them green.
backs. In New York and Philadelphia no |
one wanted gold. When they couldn't get |
it everybody wanted 1t. When they can, |
nobody does. Resumption is now fixed |
fact, but we have now got to stand by and |
not let demagogues and tricksters cheat
US out OF what we accomplished.