Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1879-09-10
S0CKD0L0GERS FOR SECRETARY
SHERMAN TO ANSWER.
A SHORT cATEcHISM FOR TIL e
REMARKABLE FINANCrER.
How Widows and Orphans Are Plundered
For The Benefit of the syndicate.
DAMNiHG RECORDS FROM MS OWN DE.
PARTMENT-THE BLUE GOES DOWN
BEFORE THE GRAY, PROVIDED
THE GRAY HURRAHs FOR
MR.. SHERMAN.


MR.. SHERMAN.
A Washington correspondent of the
Cincinnati Enquirer, on the day Secre
tary Sherman left that city to stump
Ohio, said
Secretary Sherman left here on thi:
mornings train, via the Pennsylvania
Railroad, for Ohio. He goes into the
State to make campaign speeches--tc
induce the voters to cast their suffrages
for Charles Foster, his creature. In
view Of this fact that the impending
campaign is one in which Secretary
Sherman is the central figure, and who
will reap all the advantages of q Re.
publican victory, the following cate.
chism, for the guidance of those who
will listen to his speeches and see fit
to ask him some questions, is propar-
ed
Secretary Sherman will tell the
people OF Ohio that he has closed
all sounding operations. This he told
the people of Maine He deceived them,
and will likewise attempt TO deceive the
people OF Ohio. He has, on the con
trary, not yet closed his recent con
tract with the pet Syndicate, which at
one fell swoop got control of oil the four
per cent. bonds. OF the s1S0,00O, 900
subscribed in these bonds by the Syndi.
cate s45,000,00O yet remain unpaid
for; and Secretary Sherman, in that
spirit Of lberality which he has al
ways extended to few Eastern banks,
has extended the time for final settle.
ment until October lst, although the
original contract, which he has violated
at discretion, provided final settle
ment should be made on July 18th
last. The immediate result is that the
banks have the use Of S45,000,00
until October lst which belongs to the
people, and should have been in the
Treasury thirty days ago. With money
worth two per cent at call, it will re-
quire the aid of Lightning calculator
to find how much money the Syndi.
cate will mako out of the s45, 100000
which Secretary Sherman allows them
to use.
This is not the onl v reason, though,
that Secretary Sherman gave the Syn
dicate an indulgence Had a settle.
ment been made according to the
contract, four per cent. bonds would
not now be at premium-they might
be held at par. Sherman fearful Of
this decline, INDUCED the Syndicate
rather than pressed them, because be
wanted to keep the bonds up until after
the Ohio election, SO that he could
point to the negotiation OF the four
per cents with pride and the higher
the premium at which they were held
the more pride would he take in the
transaction. IL may be well, also, for
the people OF Ohio to know, while See
retary Sherman is among them, that
on the day the contract with the Syn
dlcate for the four per cents was made
the United States had on deposit in
the hands OF the NationBanks the sum
Of 5000, 900, 200, and these same banks
still have about $40 900 900 in four per
cent bonds to loan Western farmers at
two per cent per month to enable
them to get their crops into market
The Syndicate have three months to
pay for these bonds, during which
time they collected the interest, which
at four per cent. per annum is one per
cent, aggregating slS0,000 profit be-
fore they were called on for ono cent
This is not ALL The monopoly thus
put in the hands of these bankers
made corner on the bonds, and they
were enabled TO charge two per cent.
premium on the bonds, which makes a
clear profit of $500, 900, or, altogether,
the profits of this transaction between
the National Banks and John Sher-
man was $4,000.
Now, who does this money come
out Off During the extra session OF
Congress widow of Union soldier
wrote to member of Congress that
she had certain United States bonds in
trust for her children the proceeds OF
her deceased husbands pension that
she had applied for the interest on her
bonds, and for the first time ascertain.
ed that her bonds were among those
called in, and the interest had ceased.
She requested the member Of Congress
to 60 TO the Treasury and exchange
her bonds for four per cents. The
matter was presented to the United
States Treasury, and the reply was
that the party could get the face value
of the bonds in money, but the Gov.
ernmcnt had no securities for the sale.
The consequence was that the poor
woman had to pay premium of "a
per cent. (thc small dealers must have
their profit, hence the half cent addi-
tionaD, and the exchange for trans.
mission was half of one per cent. more,
cntaiing loss equal to nine months
interest on her little patrimony. While
the great capitalists Of the country
are lauding Sherman's financial sue.
cess, somehow the poor widows and
orphans are not able to appreciate IL.
Secretary Sherman can also be ask
cd by the loyal soldiers Of Ohio why
he has appointed Conicderates to Office
His friends say he has not. Let us
see. Here Is the roster
General Withers was Confederate
soldier. He served through the war
He is brother Of Senator Withers Of
Virginia. He was appointed first-c class
clerk in the Registers Office of the
Treasury by John sherman, on the
recommendation of General Sherman,
whose classmale he was at West Point.
Colonel Hathaway, editor of the
Norfolk Day-Book, was appointed in
July by Secretary Sherman Inspector