The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1879-07-24
SHERMAN AND RESUMPTION.

SHERMAN AND RESUMPTION.
The Prime Minister'S Speech 10 the Mem
bers of the Philadelphia Maritime Ex-
change.
GENTLEMEN: / did not expect, when
received your kind invitation, that I
would be called upon to make speech,
and l do not understand thatmy friends
here desire me to make speech, but r
will commence by returning thanks for
the pleasure that I have enjoyed in in
speeding the shores of the Delaware
and witnessing the immense growth of
this great city of Philadelphia. It pre-
sents combination of trade and COM
MERGE that know is in no other CITY IN
this country, but, as these points are
quite familiar to you, I will not enlarge
upon them.
In regard to the resumption expert
ment, my friend has paid me compli-
ments that are entirely exaggerated. I
do not desire any such compliments. A
year or two ago I thought I was a great
deal too much abused by great many,
now l am praised for a great many
things don't deserve. So I hold q
pretty fair balance. I had an idea when
assumed the Office I now hold that it
would be a good thing to get back to
the resumption of specie payments.
They say I am pretty stubborn about
principles hold to, and that will carry
out what [ begin. never had any
doubt about our ability to resume
none at all. A great many good men,
some of these, no doubt, who hear me.
thought it was not wise undertaking
to attempt to make the vast volume of
our paper money equal to gold; that
we did not coin enough to do it. [ was
the judge, and had the law on my side,
the power to bring it about, and the de-
termination to do it. The result has
been happy and beneficial to all classes
of interests and all industries, and the
rich and poor-those who labor as well
as those who spend money-al all are bene-
flied by a currency such as we have to-
day.
Now, gentlemen, I think I have said
all [ need. [ am very hopeful of the
future progress of our country. We
are happily situated compared with
other countries. We have broad, I'M
cultivated area of land that has never
been broken with the pillow; we have
mines, compared with the enormous
wealth of which the vaunted mines of
Peru were poor and scant. The Com
c4~ aIx 1oI al,
anything in the history of the world.
Two years ago labor was suffering In
the principal cities of this country.
Men were afraid our institutions could
not stand the strain, and would break
down, and that period of depression
greater than that in England, France
and Germany had come. People were
suffering and could not get work, and
discomfort reigned supreme. Some
went to the uncultivated lands in the
West, others went away, and migration
finally equalized the demand and sup
ply of labor, until now, in two years, I
believe there is not any part of the
United States where honest labor can
not get an honest days work, and honest
money to pay for it. There are those
who held that our currency never
could be maintained equal to
coin with demand on us of $80,00O.-
600 or 9O,0OO,OOO year. I can say to
you now that we have means; so rarely
do they care about gold or silver for
money that only 100000 have been
drawn for notes and greenbacks. This
is the strongest thing about it. Now
that gold is so easy to get nobody cares
to take the trouble of carrying it. It is
q fact that in every month last year and
the year before and the year before
that, there was more gold paid from the
treasury than has now been demanded
from the LIST of January of this year to
the present time for all purposes, and
our notes, instead of being at 10 or Is
per cent. below par, now that we have
gold and silver to pay them on demand,
are actually at premium. The Treas
ury Department in San Francisco
wanted notes instead of gold, and we
refused to give them greenbacks. In
New York and Philadelphia no one
wants gold. When they couldn't get it,
everybody wanted it. When they can,
nobody does. Resumption is now a
fixed fact, but we have got to stand by
and not let demagogues and tricksters
cheat us out of what we have accom-
plished.