New-York tribune., 1880-09-26
Mr.. SHERMAN ANSWERS 3AYARD.

prsuMPTIOX OPPOSED FROM TIE OUTSET BY THE
DEMOCRATIC PARTY-IIs SUCCESS DUE TO TIE
REPUBLICAN PARTY.
lBY TELEGRAPH To THE TRIBUSE.l
WASHINGTON. Sept 25.-The Republicans of
Iyattsville. Maryland and vicinity, held Il meet
ing this afternoon and evening in pleasant grove
near that village to which n number of gentlemen
of prominence from Washington were invited as
s,eakcrs Among them was Secretary Sherman,
whose speech WAS the event of the day, and was
especially interesting inasmuch as 1t contained u
very complete refutation of the claim set up by
Senator Bayard in his recent speeches that to the
Dcmocratc party is due portion of the credit at
taching to the resumption of specie payments.
Upon this subject Mr.. Sherman said:
The first act Of the Republican party during the
Administration of General Grant 1t was The act TO
the public cre0t In that act was hls clause
Aud the United states also pledges its faith to MAKE
;,rov ion earliest practicable period for the re-
Tnis was purely Republican measure IL was adopted
after grayest consideration by te vote OF the great
body of Republicis both houses of Congress- ana was
opposed BY the Democratic uIy Every Dem9erat
yoted against IT,, with Mr.. Bayard at the head
yrlonmSnt @ Of this policy was the act of July H.
1870, Tor he reunding Of the puolic deoi u u IS & uGr n
lie debt has made. by the reduction OF the rate OF
interest on bonds rom TO mr cent in nnS aGs so
means the accumulation OF coin 1t was adoptei
c1ns cy '"e and opposed by nearly every Democrat,
NJ Bavard again heading the olposltlon.
Alter III financial pane OF 1913 pubic epinion III
tins cuntry IN both pontical pares greatly ag-
ta,ed aud schemes were discussed ana pro-
posed The Democratic members OF both houses OF Com
,Tss iaing the lead in of measures OF nfaton
IL waa 10 his lime that Secretary Richardson issuu
G 900 900 in United arcs notes, IA thint In viola
fnn of Jaw but 1t WIS cDnd ned AMI pa,liacd by public
opnlon account OF the pressing ehcrgnces OF tie
fines From tnat time until January, 1870, no
ornn,te policy was or could 1e adopted To bring
about resumption OF specie palIn,,n'- Mr. Bayard
and few Democrats wcic pTOicsscdly IN flYor OF re-
suuuliop whiIo tourfs 0f his arty associates were
bitterly opposed every measure looking to that re-
suit ami am sorry 90 fay that some Republican S'na-
TORS and IN cnbcrs. Influenced by the hardness OF the
times INDUCED IN aud supported schencs oi lnnato'l
Bat ne body oi the Republican party reHnaih'G tfur ana
nm 10 the prdge made IN 1859. In December 1874,
ihe Republican Senators, cens 'his upon them % rested @
the responsibility. ana tEat they eouid not
hone to have any practical aiu rom Dem =
measures (, urnG about resumption Ihoy met IN con,
freucr or please. In caucus, ana tbcre atr fc
dcbcratiOn took their stai 10 favor rrspp inh hC'
directed tle preparation OF the "sump on acs t was
prepared BY commit oi moe sepnbncan SENATOR'S
IL Was submitted to Republican cancns and was there
d ret for resumption but 1t was me bst mat
% ~ ums u ,he n.mnbjcans It WIS known that it
| would meet the united ani determined opposition
of Ihr Democratic party, for although fw men ilAe
Mr. Bayard proiesscd be favor oi resumption. aud
would talk OF It, yet was perfectly weli Known
6@m rom yorng or any measures proposed or sup
p0ited Ivy the Republican party L. wdsfep0t'ei 20 the
senate by the Republican members OF tue committee on
| EnInre OF wn,cn | was CHAIRMAN, ana opposed b.
| every Democratic member. senator Baydrd among
| the ,tncrs It ufDdltu III S'uWt
| not TO any great extent. but Introduced
as the deliberate aud dc,ermined result
of Dcnuphean policy and such 1t passed by Dot
houses oy triumphant majority, and Was approved Dy
| Pres,denJ Grant. - -, =,
| I'm tne senaN not Il single Democrat voted for the
hI buI n WAS voted for by every Republican Senator
who voted Mr. Bayard was present III MS seat Dnt dld
moi vote Mr. Biysrd says he proposed an amendment
10 he destroy Tue Uniied States notes
when presented Tor redemption, or IN other wo ds, u
retire te entire youe and prohibit their reissue lie
,d AXE snch propostion.witn the distinct knowedg'
/ tbat IN adopted it would defeat tho Dlll, aud tn
M doupt he would confess The large body OF the Re
publican Senators, while In favor Of resumption, sul
yw,snsd to mnintan In circulation limited amount o
United states notes They did not boar interest," and