Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1879-08-07
SPEECH
HON. JOHN SHERMAN
OF OHIO.
On the Financial and other Issues OF the Tines.

Deifrercd az Portland. Ne, July q 1873
FlLow CITIZENS:
| accepted the invitation OF your di~,in-
| guished Senator tn speak In the State OF
| Maine duting nv brief vacation from Of
/ iictal duties, mainly that | might present to
you the mode by which. In spite OF much
| opposition. United States notes have been
/ adv anced 10 par In coin, and some reasons
| why these notes ought Hereafter TO be re-
deemed In coln a, the demand OF the holder.
| instead of being. az formerly. irTedeema-
| bie, deprecated, and dishonored. You
! Will naturally expect me. as a public OF
ncer, To speak mainly on this aud Kindred
financial topics connected with my official
I duties.
Bu, before doing 80. permit me to say
thA, there are questions involved Ia our
political contes, thi, fall more important
than those Of hard money or son money.
greenbacks or bank notes.
REVIVAL or OLD ISSUES
II felt at liberty to choose the theme
most important to you and 10 the whole
people oi the United States. | would pre-
sent the recent revival by the Democratic
party of the Southern doctrine Of States
rishls- Ihis doctrine has been the evil
genius Of American politics. II was born
wsrN OF American slavery. II poisoned
and estTanged a large section OF the coun-
Try. ndcr the name OF secession, IL led
to the late rebellion, and aimed TO destroy
The I Hion by an opcu armed conflict with
the National Government. Every life that
was sacrificed. and the treasure that va.
wasted in that war, were the bitter fruits
OF this doctrine.
Now II takes the form of nulliiIcaiion-
not notification by State officers a. when
General Jackson throitied Il. bot nulildcs-
ton by members OF Congress. the sworn
agents and officers OF the General Govern
meHi- These officers would surrender cs-
sen;ial powers OF the National Govern
tnent. Euliify lis Law. cripple Il In sxecni-
Ing It's conceded powers, and make il a
Confederate iustead Of Naiional Govern
ment. 10 the arrogance OF th..r power
one Of their leaders declared that It va.
their liked purpose TO wipe out every YES
ucc OF war legislation.
Their chief effort 10 the last two sessions
of Congress has been 10 nulliiy a law uf
Congress proSldln. Tor an honest election
OF members Of Congress- law passed in
pursuance OF plain provision Of the Con
stiiuiion declared by Mr. Madison 10 De as
senIlAl 10 the prcservaiiou OF the Govern
meui, law which has been sanctioned hy
eight years OF practical execution, which
has been appealed 10 By both parties.
whose conslltaiiouailiy has never been de.
puled in the courts and which ! the only
guard provided by Congress to protect cit
izeus If the United States tn the elective
franchise The movement for uG.iiyins
this Ian was made possible by 'uuiied
south, united by terror. violence. aud
iTand. and by crimes that disgrace onr
civilization. over the white men Of the
South, who we're wiilng to acqule-ce IN
The results OF the war. the united >ouih~
praciiced social osiracism and violence
over the poor blacks. whose rights were
granted, aud "a We foollshiy thoo Sbt saf.
noiehtly secured by the Constitution. Il
trafDpied with midnight murder acd mas
querade, aud last year Il capped the climax
by election frauds more shamefu than The
ballot-oox siuiilng snd repeating of Tweed
and lis Infamous ring In isfiS.
Several members OF Congress who were
contessedly elected by ae-bal.o.- box
s,nf'ing. the meAnest form OF crime against
the elective franchise, participated 10 re
fnsins the necessary appropriations for the
support OF the Government, unless the
President would approve the repeal Of the
election laws. When, lby the frmuess OF
the President, they failed 10 their main OBJ
Ject. they sought by conditions In appro-
prlatlon bills 20 compel him 20 agree TO
nullify laws In violation OF his oath Of office.
When the President again defeated this
scheme by his veto they refused 10 sppro-
pirate money 20 enforce the judicial man
dates Of the Government. and the United
States courts are now powerless to enforce
their DEGREES or 10 serve process, or TO
keep the peace, unless the marshals serve
without the pay fixed By law. In this
way msjority OF either House may nUlll-
iy any law and destroy the Government.
We thought all sach dogmas were over
thrown BY the amendments 10 the constl-
tuition. such policy, II sanctioned. will
nullify the amendments. and i more dan
gerous than secession or State nulincaton.
Ii Is revolution and anarchy.
The evident purpose OF those now dom
mating la the Democratic party Is 20 beiit-
tie aud degrade the National Government,
TO elevate proviDcialism above natlonalism,
To weaken the tic that binds this vast coan-
Try Into q nation, so that the winds aud the
waves OF faction may beat npon IL aud shat
ter it. Gen. Wade Hampton is reported to
have said that he does not care whether
the candidates are hard-money OF soft
money, so they are Democrats. few
Democrats from the North, elected upon
any false issue or artince whatever, give
them, with the solid South. the control OF
the Electoral College and of the Senate
and House. Through the caucus, conduct
In secret, and controlled always By the
most violent men, In which the solid South
has the majority, they hope to rule this
whole country, and sap and mine all the
strong foundations Of the power and au-
thority upon which the National Govern
ment rests.
This Is the issue before which questions
nfV lah su sis inf nast
parative insignihcance. While intend In
the remainder OF my remarks TO confne
myself 10 financial questions, beg you 10
remember that the battle for national au
thority, for the right OF the United States
10 enforce its laws and protect its citizens
on every foot Of land or water within lis
limits, though once won, is In danger Of
being lost. Remember that the national
debt, two-thirds OF the national taxes, the
destruction OF our commerce on the high
seas. all the sacrifices which accompanied
and followed the war, were caused by the
very party and the very men who now
seek TO divide US on questions Of political
economy. SO that through our divisions
they may, with unchanged principle. seize
upon the government that was defended
against their arms by millions of our coun-
trymen. trust TO the well known patri-
otism OF the people of Maine that they will
not be diverted by divisions IN our camp
about money matters while our old enemy
is reyiving the lost cause and is sappiDg
and mining the National Government.
FINANCIAL CONDITION In 1873.
In the fall OF 1873 there happened q nnan-
cisl panic, out OF which most OF the econo-
mic questions upon which We are now d.
vided naturally sprErg. We must under
stand the actual condition of things when
this occurred in order to discuss with In
teliigenee the measures that have been
proposed aud executed, and the questions
that still remain open for decision. Our
money then was paper money. irredeens-
bic in coin. and worth about 81 cents on
the dollar. The amount outstanding was
81. A.