The daily gazette., 1879-10-30
THURSDAY. OCTOBER 80, 1879.


man has been running over the county
during the whole fall Dragging over the
condition of the 6nancfs and what lie
calls resumption, which he seems to
claim as q consequence OF his manage
ment of the Treasury. In speech at
Patterson, on Saturday evening he is re-
ported to have stated that the Treasury
has now 3l7O,0O0,0 900 of gold and S5o,-
OO0, 900 of silver, and SAID:
"What was this resumption act? II
had three propositions. First that We
would replace the fra, onal currency
with silver; second, that we would nave
free banking as freely ss in farming or
in making silk goods; third, that on the
1st Of January, 1879, we would pay IN
gold and silver any notes OF the United
States that might be presented. We
said We would do it and we did it,"
This is just what might have been ex-
pected of this politician. For that is all
Mr.. Sherman is. lie is not statesman
No statesman would have suffered his
reputation to have been tarnished- as
Mr.. Sherman's was in forcing through
the Senate bill to demonetiz, silver, in
90 silent manner that even President
Grant did not know its contents, or that
silver was demouetized until two years
afterwards. Nor would a statesman
have purchased $50,000,000 of gold with
;,,t, at hnp,is ff tho IN nttpI
States, at a premium all considered of
about one per cent. when gold had been
at par with greenbacks several weeks;
aud would have been uly at par had
not the bankers and brokers been made
Interested to keep it above par on pur-
pose to secure the purchase of this very
$4,000, 900 of gold by Sherman and the
sale of S50,000,00O U. 5. bonds. THIS
was one of the most rascally acts we
ever heard of; and it was pointed out at
the time in the GAZETTE; aud many
other papers took exception to it. Even
Republican papers said that Mr.. SAer-
man was running the government in
debt for $50000,000 Of gol when the
Treasury was already ovrrrun with
specie--there being come eighty or ninety
millions Of goli ID thirty millions
of silver in the Treasury. Yet
Mr.. Sherman pushed back resumption
by going into the market and announc-
ing thai he wanted to buy fifty millions
of gold for U. :. interest paying bonds
specie, and millions OF gold slowed
around in Ills pet banks who were using
it to do business upon. Tie fifty mil
liots Of gold he bought was left in tie
viults Of the very banks that furnished
1t. This is known, and fifty million
dollars of the peoples bonds were
given awav usel ssly. The god va,
not wanted, and is not wanted nos
MIR. Sherman does not know what to d,
with it.
Resumption which he talks sbou
would have been here year sooner la,
he not gone into the market a,l pGr
nted the rise Of greenbacks by plopos
In, Ito buy gold. Mir. Sherman was t.,
chief of great government and sacri
feed the Interests Of tie people thcre'
to few low priced bankers. But
was TO ill his own purse or the purs,
of his friends engaged in banking. Ha
Al.
silver resumption would have take
place two or three years ago. In la
resumption has come in spite OF the e
forts of Sherman, who it is plain h'
been more than year managing to r
tard it and keep it back until Jan
uary, 1870, to try to delude the peoI
into a belief that the Republican po
ticians, of which he was to be the Chi,
had accomplished it. Any man of int
ligence and sagacity must have seen II
the recoinage OF silver was bound
produce it. Aud Mr.. Sherman did
he could to prevent this also.
No act of Congress was so efJcctl
in the elevation Of the greenbacks
par and bringing about resumption
the acts which remonetized silver a
forced Mr.. Sherman to give an order
the mints to recon silver and circul
it in. competition with gold. This
Sherman must have known and of tn
acts he was the most arbitrary oppone
But 1t is supremacy ridiculous in Sec
tary Sherman to use the language of
braggart which he does, in the face of
fact that gold, owing in part to Del
cratic legislation of Congress, is i
flowing into the country in a per
stream. Suppose we had not had sill
and now had demand for it does
one suppose that gold and not sill
would have formed the chief bulk of
great sums we are now receiving
wheat, corn and other produce? '
The industrious, energetic agriculture
who raised a surplus of hundred bl
els of wheat is entitled to more credit
resumption than this peregrinatine |
Ncian notwithstanding all he says in
MS postprandial orations to the
trary.
ine surplus revenue of the presen
nnt.,,, n.sau sum after defraying the CO