The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1879-07-15
Tuesday, July Is, 1879.
Sherman And His Policy.

John Sherman, than whom there is no
stronger competitor for the nomination
which Grant hopes to secure, has been
discussing finances in Philadelphia. lie
made some statements yesterday which |
are 50 palpably at variance with facts, as
20 impel the conclusion that he delibera.
tely misstated financial matters for politi |
cal effect. Such a speech as John Sher-
man delivered yesterday before the Phila-
delphia board of trade, would have diff
erent result politically if given before a
audience Of western farmers. The audi
ence John Sherman addressed yesterday,
belong to the extreme hard money ele.
ment Of the east and of course the secre
tary was extreme in his advocacy of gold
standard. He made statement however
which is worthy Of attention not only from
the people, but should receive invcstiga-
ton from congress. He said:
In New York and Philadelphia no one
wants gold, When they could not get it
everybody wanted it, When they can
nobody does. Resumption is now fixed
fact. but we have got to stand by and not
let demagogues and tricksters cheat us
out of what we have accomplished.
If nobody wants gold, why docs John
Sherman continue to hoard it 10 the treas
ury vaults? So then anybody who opposes
resumption is "demagogue and trick
ster." The people will not forget the say
ings of this financial tyrant, who has done
more to bring distress on the poorer
classes, by his unholy contraction policy
than all other causes combined, AS for
resumption being fixed fact, it is not the
case, Cor if resumption is assured, why
does not specie flow more equally with
paper money. This talk about the people
not wanting gold is all bosh, it is mere
buucombe and none know this better than
John Sherman. That resumption is not
fact, that is practical resumption, is
demonstrated by the utter inability Of
Sherman to redeem in gold. Congress
by law enacted, instructed this gold
basis autocrat, to redeem greenbacks il
gold or silver as desired. Does he do it
Has he attempted to do it? No, hi
has boldly defed congress and the
people and instead of paying out this gold
pays silver instead. And right here it il
proper to inquire why he does this2 1t Il
because practical resumption is not assur
ed that he knows it is not assured; ant
further, aud the main reason, because The
gold is boarded in the treasury for tn
purpose OF aiding him aud his part
friends in measures Of speculation. Re
sumption of specie payments, full an
entire, not the mere announcement OF a
intention to resume, or that we" have re
sumed, would greatly benefit business
But right here is the difficulty, for tn
very good reason that specie resumptlo
is not fact and until there is more silvt
aud that silver is on par basis with golC
resumption will not be, cannot be an e
tabished fact. John Sherman and h
horde of Wall street agents and note sha
ers may issue pamphlets assuring Il
people that resumption is
established fact, but the G
deal OF proof is lackin
What we need and what the peor
demand and must have, is more silver al
a more liberal financial policy to iusu
full resumption of specie payments. N
the Inauguration Of the wild and imprs
able measures of some financial extrel
lists, but a policy based on more ev
distribution of gold and silver and gree
backs, a freer interchange, and an cd
from congress to cease this boarding
gold in the treasury. John Sherm
should be compelled to obey the acts
congress and not defy congressional auth
ity to serve himself and party friends, a
for the sake of sending abroad an impr
sion that he is the fnancier Of the count
and to him is due all the praise. So
AS the present outlook is concerned. 10
Sherman should be accorded full me-
ure OF responsibility for our fnanc
condition, for he has done more
paralyzo industries, cripple bu
ness and bring on hard tim
than all other agencies combined. Gi
him the measure of praise to which he
rghuully entitled, and let him be he
responsible for the suffering among t
people to day, for all of which John Sh,
man is to blame. His Shylock policy
boarding gll instead OF paying it out a
thereby keeping the money in circulate
IS what causes peCunlary distress, and
John Shermans policy is the policy of t
republican party, and he the chosen
etrumeDt to carry out that policy, let t
people remember it, and see that the
publican party and John Sherman a
held to their record A few more su
speeches as that by Sherman will do mo
to convince the people of the viciousness
the republican party and its fnanc
heresies, than anything that could occr
--
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