The Superior times. [volume] (Superior, Wis.) 1870-1912, 1892-10-15
Senator sherman Recounts Republican
Afll lip,, larlfs

RACES ia, 10, lsZ0
Senator sherman Recounts Republican
achievements.
From Senator John Sherman's Article in the
Independent september 99.l
The career of the Republican party was
begun, continued, and has not yet ended,
as one of unprecedented legislative indus
try. 1t has never been anything but a
working party devoted TO the highest well
fare of the nation.
1t is distinguishing characteristic of
the policies OF the Republican party That
while they We're undertaken III the heat Of
the civil war they were designed to pro
mote the pacific development of the indus
trial energies ami resources of the c0un-
try. one OF the first landmarks of Rcpub-
llcah legislation was the homestead act.
his law had been pending III Congress
Tor many years while the Democratic par
| ty was in power. 1t had heen vetoed by
two Democratic presidents. Il had been
stTcnuously supported by leading North
EN- DrmGcratS. but had been opposed by
the South IN the interest of slavery. \
kennbflcan Congress enacted ii in Nav,
iSb2. and converted it into a great national
policy. as benciicent as ii was progressive.
Tor creating a prosperous class Of indie
pendent treeholdcrs in the Western
reaches Of the Union. The homestead act.
supplemented by Pacific railway lcgisla-
ton, attracted settlers. stimulated imml-
grafton and transferred the center OF in
uuStrlal power from the East to the West
Even IN war time the foundations were
laid for that marvellous material prosper
ity Of which the first fruits were 10 be the
resumption OF specie payments and the
cancellation during single generation OF
twO-thirdS Of the national debt.
In like manner the tariff has miniStCred
to the highest interests OF the nation.
Al the opening Of the war tie Democratic
party, under the direction of Southern
slave owners, was committed to the policy
of revenue tariff tending in the direction
of absolute free trade. The cotton, sugar,
tobacco and rice planters of the south.
having what they considered the cheapest
of all labor iii their slaves. were the
natural allies OF free trade England.
one OF the economic curses of slavery
wherever il has existed mas been its IN
eyitabe effect in developing two or three
great agricultural interests and in pre-
venting the GivcrSlticatiOn of industries.
Southern planting interests and economic
policy blocked national development of
Industries. The policy of a low tariff,
which had always been Southern rather
than Northern, was abandoned when the
Republican party was confronted with the
necessity of obtaining an income adequate
for meeting the cost of great war.
MASTERPIECES OF FINANCE.
The financial legislation of the Repub-
llcan party constitutes a series OF land
marks OF American progress. Tie great
measures OF the war period were those
providing Tor the issue and ultimate re-
| dempti0n of the legal-tender greenbackS,
| and for the establishment of the national
| bank system. Those were followed, after
| the war, by the refunding and redemption
acts. The general principle upon which
| this legislation was grounded assumed
| that public debt was to be regarded always
| as a temporary burden, to be paid as
| rapidly as possible. and that every prom
| Use made to creditors must he fully re
deemed. Although debt was contracted
SO vast in volume that one year interest
| upon it exceeded the financial obligations
! incurred during the war OF the revolution,
| provision was made for its rapid conver-
sion into securities bearing low rates OF
| interest, and for the payment Of two
| thirds of it during the life of single gen
Grafton. The taxpayers OF the period OF
! the civil war We're compelled to do their
! duty as well as the soldiers were doing
| theirs in the field. Taxation was kept at
the highest aggregate which industry
| would bear and the burden of the debt
| was virtually carried by the generation
which incurred It. The success of the re-
| funding acts was largely dependent upon
| the resumption OF specific payments. That
| was supreme act of good faith which eS-
tabliShed public credit on so hlSh plane
that refunding operations We're conducted
with extraordinary facility.
| In consequence Of thirty years expert
| ence with Republican financial legislation
| the American people have the proud dis
| tinctiOn of beng the only great nation
| that pays its debts. They have also cur
| rency which was brought by latorious
processes to par with gold. They have
! also a national bank system which has
| steadily grown IN popular faNor. ana uii-
| der which not a dollar has ever been lost
to a note-holdcI, and only the smallest
traction to depositors.
rHE PARTY OF OBSTRUCTION.
All these great policies have been accom-
| plished without the aid OF the Democratic
! party. The funding act OF 1870. by which
! the rates of interest on the debt were
| changed by the conversion OF all classes OF
| national securities. was passed without a
! single Democratic vote III either House.
! The resumption act OF 1873 was opposed
| by every Democrat in both Houses The
| national banking act was denounced rs
| unconstitutional by the Democratic party
| during the war, and It's hostility To the syS-
TEN has not ceased to tins day. when the
| repeal OF the tax on state bank ISSUES is
| deliberately proposed in its national plat
/ form. That party thirty years ago de
| tended these state issues although they
were not secured. had no uniform value
| throughout the country. were easily couu-
/ tcrfeited and displaced greenbackS- 1t adj
yocateS return To the same system now
| and apparently from a deliberate prefer
! ence for an inferior currency. In Ike
| manner majority Of the same party. IN
stead Of cooperating with the Republican
! party III adjusting the relations between
| gold aud silver SO that both metals viii
| circulate at par with each other. favor un.
| limited free coinage. by which gold VIII be
/ drained out Of the treasury and the coun-
| try plunged headlong into monometallisn
on the lowest plane.
| THE TWO PARTIES N CoTRASTN.
The Republican party throughout IL
| history has been fighting the battle OF free
| labor In the beginning II was popu-
lar agitation To prevent the extension o1
| slavery to the territories, and subsequently
! il was a terrible battle with a Slave-own
eTs rebellion: but III the end IL has been 4
| prolonged campaign N the interest ol
| American labor menaced with destructive
| and degrading competition from the labor
of less prosperous and enlightened Euro
pean states Since the first election OF
| Lincoln I0.09u, 900 aliens have found homes
and workshops in America: yet notWlth
| standing this immense addition 10 the
| working force Of the nation. there has
! heen gain of nearly 80 per cent, IN the
| average late Of wages. That result coulo
never have been accomplished without Re
nuhllean legislation for Internal improve
itt.uts ana ire operation Of the Homestead
law. and above all without systematic pro
faefion OF \ American labor employed II
home industries. For this comprehensive