The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-11-03
The Former Gives the Hooz.
ierS Taffy.
THE PLUMED KNIGHT RANrING
Attaching the Administration, of
Course-How eve" Manipulated
the Finances.

= speech OF this campaign in Indiana at
this place this afternoon. A steady
rain began to fall il the early morning
and made the prospect of q good meet.
ing rather dull, but the people came
through the rain and mud until the
crsWd numbered in the neighborhood
of 10000. The parade took az hour to
pass the rink. Sherman said: When
was travelling through the State OF
Ohio recently was occasionally asked,
"What about Indiana" And now,
since have been in Indiana 1 will be
able to answer more accurately than
1 could have done, although
believed the people OF Indiana were
LOYAL AND BRAVE AND TRUE,
and would never turn their backs upon
their most eminent citizen, when he had
been designated by the Republican
Party as their candidate for the chief
magistracy. / have no longer any
doubt about Indiana. What are the
topics of the day? The Republican
PIrty for twenty four years so admin
istered the affairs of this government,
under the leadership of such men as
Lincoln and Grant, that our nation was
held higher than any other empire or
kingdom in the world. Why was it..
then, that the people four years ago
turned their backs upon the Republi-
can Party? First OF all, the accuss-
tons made four years ago that the Re
publican Party was
ACCUMULATING VAST SUMS OF MONEY
in the Treasury; that it was boarding
it there and keeping it out of the chan
nels of circulation. They said if they
came into power they would distribute
this money among the people to con-
tribute TO your comfort and success.
That had more influence in Indiana
than anything else. They promised
civil service reform, economical admin
istration and reduction of taxes. Has
anybody in Indiana received any por-
ton of the money that was to be dis
tributed? (Laughter.) On the con-
Urary, have the last official report of
the Treasury Department, signed by
the Democratic Treasurer of the United
States. celebrating on the condition of
the Treasury and
Senator Sherman went on to say that
E'the surplus could have been avoided
had the Democratic administration
utilized the money for the redemption
of bonds, but they failed to do so until
both houses of Congress gave the
power it already possessed" He then
said. They did another thing, and if
&c 6ofa
Democrat here, l want him to take this
home. They took $60,00O,0O0 of your
money out of the Treasury of the United
States, and scattered it around among
various banks, without interest, and
with promise that it should not be
drawn against.
WHAT EXCUSE DID THEY GIVE? .
They said the Republicans did it, too;
that John Sherman did it, and they
made me a kind of devil with horns
never did that thing at all. Never!
Nor did cDy Republican Treasurer
do it! (Applause). What We did do
was this: When the national banks
were organized, we said we would make
them public repositories or the COM
mercisl agents OF the people, to collect
the internal revenue tax and aid the
governmental the sale OF bonds. When
ever the citizens of Indiana wanted to
pay tax on whisky or beer, or any
other tax imposed under the internal
revenue laws. or when the citizen de-
sired to purchase bonds, he might go to
a national bank and get a certificate of
deposit and send it to the Treasury De-
partmenL, and the government would
accept that as money and leave the
money in the hands of the bank until it
was wanted in the public treasury.
For many years there was In this way
from 81 600 600 to SIS 100000 deposited,
not by the Secretary of the Treasury,
bat by private citizens
AS A MATTER OF CONVENIENCE.
This deposit never exceeded SIS ,OOO,-
600. They say, too, that John Sher-
man had at one time $500 .0OO, 900 in the
national banks. Let US see about that.
When we we're refunding the public
debt, when | was called Upon as Secre-
tary to sell 5000 900 600 worth OF 4 per
cent. bonds with which to pay for
$500 900 600 of per cent. bonds, then
we made those banks depositors and
we said if any citizen wanted to buy
the money with the banks. Then we
left the money in the bank for ninety
days. And why? Because under the
law We could not apply that money to
the payment of per cent. bonds. We
had given notice to holders, and to pre-
vent the withdrawal of the money from
circulation, we left it withIthe banks for
that time. During that time we sold
600 goo 600 of per cent bonds, and
paid for 5000 900 900 of 6 per cent
bonds, thus saving you $12,O00,O00 of
interest per annum.
After further remarks in regard to
national banks, Sherman closed as fol-
lows:
Indiana has been greatly honored by
the nomination of its most eminent
citizen for President of the United |
States. III high honor to every one
of the thirty eight sister States. 1 ap-
peal to you, then, not only as Republi-
cans, but as Democrats, not merely as
belonging to party, but as men be-