, 1879-08-21
The Wisdom Of Adheri1g to
specie.Payments Clearly
Pointed Out.
Secretary Sherman Elalles His
First Appearance Mt
stcubcnyillc.
Able Exposition Of tho state-Rights
Question by Judge Taft
nt Cleveland.
Charley Foster Speaks for
Himself to the People
of Akron.

VI kAxA1 oA4t
CARL SCllURZ.
guu srcnErAHr or THE INTERIOR At orfc1H-
NATI.
Special Dfepuich to TAs Tribune
CINCINNATI, o., Aug. 2o.-An audience qf
fullr 1000 people rrerled the Hon. Curl Scliurz,
Secretary Of the Interior, upon Ills t1rst appear-
.nce In The Ohio campaign at the Lookout
House this evening, and his speech mas listened
10 With that close attention which tits superb
oyator invariably securcp. 1t was as follows:
Mn. sc1luHz's SPEECH.
F1LLow.C1TIzENs: It seems to be the nriv-
ilege Of thc people Of Ohio to stanl foremost In
tcuaucs Of a. sound financial policy. Twice you
harc beaten back the onset Of The paper-monry
mnpIa; ami now. for tho third time, the Amer
icap peoulo look 10 you to be TRUE to your hon
orah!c record, aud to hold thu fort.
When had the honor OF addressing you last
year, the prospective results Of thr resumption
policy .nauguratcd bY the law OF 1876 were still
q matter Of dispute. Its opponents ettll In
uulGe1. as thcY had done for years past, II,
gloomy and MOST positive predictions Of failure
and disaster. What were those predictions7 1t
ls not Improper to rccnll them. They were TINT
the sess,mpt!on OF specto payments OF, Tho 1st Of
Jnnuary, 1871 would prove utterly Impossible;
that the necessary reserves Of con In the Treas
reo1lS werc ctI tlIr rnst M rrcnnacIfs
nrcscntcd for redemptton would speedily exhaust
them, AMI thus breRk down thu rcsnfnpt!on of
vmIr ncmncrnI,e rnHIIilntr fnr thr fioycrnnr.
sltp. was particutar|y sure Of this, This SOL
emn warning, uttered on the floor Of Com
grcss, though often quoted before, mav+ for the
lin. ha onotrl npnin. IIo anId: uIf We vcra
winI)y o,,t nf drht to Eltrouc: If 0ur foreign
cnn,tneres fnated under our own fnu: II there
wrro RI avstcrn III nt,sentpc,sr amnnr mr.
wealthy c,osses. cxOeudlns illclr wealth ajroud.
-ycpulnntIon III gold, or even tn cold a,ul srcr.
would b. Impoesible o. our prcscu, yol,mc of
paper currency for mlnifv years to come. 1le
Nntionpi banks, tlr importers, The Gold Rings
iu New York, the dcspcrniloea Of Wall street.
The Money Kings OF EhroDc to whom we nre
fnanrIoiiv cntlnvcd. they viii nrrsent lila
grcenbaeks for redemption aml destruction as
fast n, u1r EultI can Uc pa oycr the counters u{
The Trcasury,n Accostltur TO him, then, rs-
sumption was utterly jnpospihIc; ani Il jis
pJyicn Ind been followed Il would hoyc hccn
given up.
But according to him md his followers. there
wers still greater horrors In storc for us. Tie
mere attempt at resumption would 10 fraurht
with tiIc ,nost Distressing consrouerccs. THE
currency would pe Violently roTiractcJ, Money
would be utterly tlcst,oyed, Values would
shrink to nothing; The last remnant OF nl,r H.
dustrics woul,l break t]uwu. Futures wnud sill
multiply. 'ri,e country would swarm more than
ever With unemployed and hungry worl;inrueu.
EvcrythIllg would be overwhelmed will ut,lrcc-
mcato ed oi s ssS uto aud e
issue of more irrctleemablo papcr money. That
n'q1s would T. M sasc us from ntter aestrclon =;
longer with Mrre THEORIES, blt with facts, Wbut
has become OF those rortcntous predictions III
thu light OF experienced The accumulntion uf
the nccessary coin reserve 10 tile Treasury, far
without difficulty bY tie simple process pre-
scrybrd by l0w. There hns been nd RIM on lila
Treasury. Gen. EwLng'a rloomy array Of Gold
Rmrs, JespcraJoea Of Wall street. tmrortcrs,
National hanlsa, Money Kings ui Europe, who
Wera 10 empty the Treasury III lny. sllonc by
their conspicuous absence. Not only were ule
coln.rescrves not promptly exhausted hut tito
coln.reeerve Is now even largcr than 1t wns On
the 1rst dav OF resumption, Illrss predictions,
then, appear now l[ko morbid hailucInations.
But has the currency bceu yio!ently con-
tractcd1 No; We have now as mary green.
baeks aud five millions more bank-no,cs In cir
etiation than six months before resumption; III
addition, many ,nore millions Of fractional sl-
yer currency alul many millions Of gold 10 thr
hands Of the people, not to speak Of the coin
hala q. reserves;
Hns cre,}it her,, 1t,erIv f1rst rovcd, r>ur nrt.
lie credit las uoycr tce,, a. GOOD M now. It
has l,ccutnc so rnotl. in,ired. M In onaHin ,f,s
Secretary o. the Ireauurry within m inrrcaibly
and nor rent bonds iuI :, non5s hrnrl,,,s on,y
4 pcr cent m Interest. thus suyint. 10 lis ucon],.
II iatoiesi fol,rtecn millions annually,
,1ojl oua nr.,n,,,m; pst ee"i ,,n" o" r,s', sn
would haye apncarcd uitsrly im,sssi6le oniy n
Jew Years s'o eeu i In iust, ,o s' not know w Of
siugie nstsocc in ii. On nnnals of any nation OF
on Terms ~ udvants1,o,a Nd y, e "n T., Wv ehnrt
lime. i, !. nus If t ,',aa, ~" M-,tort ,i"oc;a;
ocitcvcment eu =, u t.t @ "1s & m n',.h 1,nn
viii pretend shat Il M, h Inv. ~ hrr, nussi'te
had nnt d.. a. mwu 'ase ueem 'm,;,.', Mns,u
no1,cv ~ H.. nno" noeo ~ hma ~ ,usl.'
with conftdsnc IL H.. nn,,nr ,..i, tho ,.is.
dom Of thc Ao,.ria ~ alc s, ns we'll na '1' "'s'
~. asa" ,.,,..,,.ss. .sepao'ts
+,a, sa !act wen Known to every businessman
-. a. Mun u'otsey ls lar fnGrc et8lIy obtainnbtc
~ P.HpSF security, anu at lower tutes of inttr-
C0Lt knAH 0G1QFf fEEUtnntl0tI. mil DnG nj tho