Fayette County herald. [volume] (Washington [Washington Court House], Fayette County, O. [Ohio]) 1860-1???, 1879-01-23
LE1TER FROM SECRETARY s8ERA
MAN.
He Discusses lhe Resumption Question
The SILVER Dollar.

CHICAGO, Jan. 13.-The following let
ter has been received here:
Thomas II. NtchoI, Esq, Secretary Honest
Money Leagne, Chicago:
DEAR SIR: have to acknowledge the
receipt of your letter of the 4th inst, en-
closing copy of the kindly resolutions
adopted at the meeting of the Honest
Money League of the I'd instant, for
which return my grateful thanks. Re-
sumption, so long struggled for and so
emfnently beneficial to all interests and
all classes, is now secured. There are
but two points incident to resumption
about which notice complaint: First.
the non-payment of Interest on the pub
lie debt in gold coin at cities other than
New York Second, criticisms of the
distribution Of the silver dollar by this
Department To maintain specie pay-
lnents the coin must be keptin some CEN
tral, convenient depository, always acces-
sfbTe. The law fixes New York as this
place. It is not reasonable, while we
promptly redeem our notes and pay the
interest on the public debt In New York,
that complaint should be made because
the coin is not scattered by being trans
ported at the will of creditors at eonsid-
cradle cost to other parts of the United
States. We must make no distinction
between the payment of interest and the
redemption of notes; but both should be
paid at the same place and in the
same way, or we again make
the Discrimination so much COM
planned of between the note holder and
the bondholder. hope after some prep
aration and lapse of time it may be con-
venient to exchange coins for notes and
pay interest at all the repositories in the
United States, and will seek to bring
about that result, not as matter of legal
duty, but for the convenience of citizens.
AS to the other matter, have clear con-
viction that the forced payment of the sill
yer dollar to public creditors would de-
preciate it and cause it at once to be sold
in the market at less than par. NOfriend
ofthe silver dollar should desire it to be
forced into circulation under such cir
cumstances. This would open gap be-
tween the Silver dollar and United States
notes that would tend to bring it into dis
credit among our people, while it is plain
ly the policy of the law that it should be
maintained at par with United States
notes.
The department is now issuing the sill
yer dollars, transporting them free of
charge wherever needed, to all who wish
them, in exchange for United States notes,
| or in payment for services. And It is
hoped that the whole coinage may thus
be put in circulation. While it is the duty
of the Government to coin different kinds
of money as public policy dictates, it
should be within the power of the citizen
at his option to demand either form of
lawful money. 1t is hoped that the friends
of resumption will be.satisfled with the
benifcent results already accomplished,
and will give to the department reasona-
BILE forbearance in the practical execution
of its plans. Ifso, those who have hith-
| erto disagreed with us about resumption
may join with us in applauding the poll
cy now be ing maintained.
Very respectfully yours,
| JOHN SHERMAN.