The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1888-11-03
NO PROMISE KEPT.
John Sherman ON Demo
cratic Finaneiering.
now To SPEND THE SURPLUS.
Enormous Deposits In Favored
National BAnks-Proud Record OF
the Republican Party-Loss OF
National Prestise-The Fat Mans
Giee In Pension yetoes.

HrSTrSoToS, Ind, Nov. a-Seuator John
sherman made his second speech OF this
campaign in Indiana at this place this
afternoon A steady rain, beginning in the
early morning, made the prospect Of a
good meeting rather dismal. but people
came through rain and mud until the
crowd numbered in the neighborhood OF
10000 people. the parade In the rain taking
about an hour TO pass the rink.
senator sherman was enthusiastically
eheered when he arose 70 speak He said:
when was travelling over the state OF
|Ohio recently l was occasionally asked,
what about Indiana and now since have
been In Indiana viii be able TO answer
more accurately than | could have done.
although believed the people OF Indiana
were loyal aud brave and true aud would
never turn their backs upon their most
eminent citizen when he had been
designated by the Republican party as
Uuion. But have no longer any doubt
about Indians.
WHY CLEVELAND WAS ELEcrED.
s.what are the topics OF the day. The Re
publican party for "A years so administered
the affairs of this government, under the
leadership of such men as Lincoln and
Grant, that our nation was held higher
than any empire or kingdom in the world
lcheers-l Why was il, then. that four
years ago the people turned their backs
upon the Republican party? First of all,
accusations made four years ago that the
Republican party was accommodating vast
sums of money in the treasury. that it was
boarding there and keeping out OF chan
nels of circulation. They said IL they
1T
this money among the people TO distribute
to your comfort and success. That had
more influence in Indiana than anything
else. They promised civil service reform
an economical administration and reduc-
tion OF taxes. Has anybody in Indiana re-
ceived any portion OF the money that was
to be distributed? Laughter On the
contrary, have the last official report by
the treasury department signed by the
Democratic treasurer of the United States -
PANPERISG NATIONAL BANKs.
Elaborating on the condition of the treas
ury aud the reason OF the surplus, Senator
sherman west on 10 say that the surplus
could have been avoided had the Demo
cratic administration utilized the money
for the redemption of bonds But they
failed to do so until both houses of con-
gress gave IL power it already possessed.
He then said: "rhey did another thing.
and IL there Is any hard headed, hard
listed Democrat here / want him TO take
this home with him. They took ste, 900, 600
of your money out OF the treasury of the
United States and scattered il around
and with the promise that IL would not be
drawn against. What excuse did they
give They said the Republicans did II
too; that John sherman did it: and they
made me a kind of devil with horns.
Laughter. l never did that thing at all
do 1t. IApplause.
VERY DIFFERENT CASE.
.'what we did do was that when the
national banks were organized. we said
we would make them public repositories
or commercial agents OF the people to col
lect the internal revenue tax. aud aid the
government in sales of bonds. Whenever
a citizen of Indiana wanted TO pay tax
on whisky or beer or any other tax i'm
posed under the internal revenue law, or
when q citizen desired TO purchase bonds,
he might go to any national bank and get
a certificate of deposit and send IL to the
treasury department and the government
would accept that as money and leave the
money In the hands OF the banks that was
deposited by individuals until il was
wanted In the public treasury. For many
years there was in this way from seven TO
Is million dollars deposited, net by the
secretary OF the treasury, but by private
citizens as a matter of convenience. This
deposit never exceeded sl5.00o.000.
FUNDING OF THE DEBT.
.'They say. too, that John sherman had
at one time $l6l 900 900 in the national
banks. Let us see about that. When we
were refunding the public debt: when
was called upon as secretary of the treas
ury TO sell 500 600 600 of 4 per cent bonds
with which 10 pay 500. 900 goo of per cent.
bonds; when we made those banks depos-
iTaries, We said ii any citizen wanted TO
buy any of our per cent he might de
posit the money with the banks. Then we
left the money in the banks for 90 days,
and why Because under the law we
could not apply that money to the payment
of the 6 per cent. bonds until we had given
20 days notice to the holders, and TO pre-
vent withdrawal of the money from circu-
lation we left il with the banks for that
time During that time we sold 500. .0o0, 900
OF 8 per cent. bonds, thus saving you <i2,-
100000 Of interest per annum. While this
was going on the money was left with the
banks so that II would nor be withdrawn
from circulation, but the very moment the
20 days were out that mol.ey was with
drawn from those banks to pay for per
cent. bonds and the transaction was ended.
when any Democratic friends say Republi-
cans did these things ] most respectfully
and in the politest language say they are
greatly mistaken.
GLADSTONE AND BISMARCK AARyKLED.
II have shown you that this pretense of
the Democracy was absolutely unf0unded,
while, on the other hand, many matters
were conducted with such marvellous sue
cess in the Republican administration as
10 excite the wonder and surprise of Glad
stone and Bismarck, aud the promise of
the United states TO pay 5000 is worth
more in the market than the promise of
the emperor of Germany, or the car of
Russia, or the government of Great Britain
itself. Applause.
40 FAscALs TO TORN ou-.
.sIn regard 10 the charge OF raseality, ii
you can tell me OF a single Republican
Is no was turned out of ofIlce for that cause
/ viii give np the ghost. Applause. II
is one OF our proudest boast that when the
passed from our hands there
was not single man In ONCE, from the
smallest postmaster TO the secretary Of the
treasury. that was charged with pccula;ion
or defaleation. Applause. Is IL likely
that when Gen. Harrison comes In on the
ath OF next March that ss good showing
viii be made by the Democratic party
Have you gained anything in your for
eign relations by Democratic admiDixtra-
ton iCries of mo" "No."B when Gen.
Grant was president all the powers OF the
world respected the United States. -ap-
pose Cleveland had been president when
land paid the United states si5Too.ooo In
gold. would we have got dollar or a
niekelf He has shown his ability by his
treatment OF the fisheries question.
THE FAT PENSION vEToEg.
what have the soldiers gained By cleve
land'z eiecfioas A voice, "Nefoes-
Think Of the big. fat man sitting there ia
his luxurious upholstered chair aud going
into the details OF ti2, or s., C. s. pension
bill which congress passed, 20 see u De
could not find AAw. II i enough TO
sieken me, and don't want 10 dwell upon
IL Applause You people, Democrats
and Republicans alike. fought hravely for
ike aag. and you have no sympathy FOR
sueh poppy-coek work. Laughter and ap
plause.
TliZ MILLS BILL
senator sherman next spoke OF the CEN
,aittse which framed the Mills bill. saying
n was appointed by an open ffce-trader.
-peaker Carllslc. and contained six south
crn srigadiers. whc. with tso Democrats