The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-10-19

| Support OF new / OFk anu gave nun TIE
nomination. Continuing, the author
states in fairness to the ex-President:
1T is to the credit Of G2n. Harrison
to say that if the rcputed bl~g in was
made, it was with ut his consent at the
time"
'On the eve of another National cam
pain in which * President harrison is
expected to figure prominently, Mr..
Sherman does not hesitate to state that
in 1899 he did not consider Harrison q
strong candidate. TO his cold and ab-
rupt manner, he attributes hs unpopu-
| larity at that time.
'>Space is devoted by the author to an
| accoun; Of the important events of each
administration. In this connection, M
Sherman lays bare many Of the jealous
les, political chickering's and clash Of am
| bitio1s that disturbed the harmony OF
the party in power. Of Grants admin
| istration. he SAYS it was period of scan
dial and SANDER Perhaps the severest
criticism of Gen Grants statesmanShip
is found in the following extract from
Mr. Sherman's work:
During the entire period OF Grants
administration, | was Chairman Of the
Committee on Finance of the Senate,
aud had to act upon all questions Of tax
ation, debt, bau king or finance, and had
| occasion to talk with the President upon
s1ch measures. But he rarely expressed
any opinion or took any interest in
| them
AT the age of 70 years, Senator Sher
man recalls the affair over the attempt
| TO remove Chester A Arthur from the
Collectorship OF the Port Of New York
with much feeling. The correspondence
| bearing on the controversy, never before
| published, is given in full, and Mr. Sher
man's part as Secretary of the Treasury
| is stated in detail Arthur is shown up
in an unenviable light, and the attitude
of Roscoe Conklipg towards the Presi-
dent is causticaly commented upon.
The formers nomination rs Vice Presi
dent, the Ohio statesman says, was the
whim OF Oonkling to annoy President
Ha,es.
Throughout that part of the work &c
latipg TO President Hayes, Mr.. Sherman
speaks in he highest praise Of the chief
eAecu i've O. the nation.
.As showing the singing criticism of
which he Is capable, the following state
ment made by mr.. Sherman at the time
Cae impeachment proceedings against
President Johnson were instituted, is Of
interest. He said of Mr. Johnson:
1.-The truth is, he is slave TO his
passions and resentm3nts. No man can
condde in him.
Il regard him as foolish and stub
born man, doivg even right things in a
wrong way, ana III a position where tue
evil taat be does is immensely increased
by bis manner of doing it,"
The views OF Mr.. Sherman on the
financial question are SO we'll known that
lt is not necess sary to repeat them. II is
sufficient to say that he is consistent
All Of the legislation on this subject
during the last hall century is carefully
recited aud analyzad. The details con
cerning the passage of the act of 1873 are
fully recorded. In 1875, Mr.. Sherman
prepared and delivered a speech on the
repeal OF the resumption act of 1875,
waicn he says is the best presentation
he has ever been aole TO offer in support
Of the financial policy Of the govern
ment, and especially in support of the
resumption Of specie payments.
These extracts from the address, are
quoted as indicating Mr. Sherman'5 the
y of money:
All intelligent men agree that every
great commercial nation must have both
| a metallic currency and paper curren-
cy; the one as the standard OF value by
which all things are measured, which
daily measures your bonds and notes as
it measures wheat, cotton and land, and
| also paper or credit currency, which,
| from lis convenience OF handling or
| transfer, must be the medium Of ex-
change in the great body of the business
| of life."
Il am one of those who believe that q
| United States note, issued directly by
| the government, and convertible on de-
mand into gold coin, or government
| bond equal in value to gold, is the Dest
currency we can adopt; that 1t Is to be
the currency of the future, not only in
| the United States but in Great Britain as
we'll; and that such currency might
properly continue to TO be q legal tender,
except when coin is specifically stipulat-
| ed for"
Another extract from the utterances
of the author defines in word his posi-
Ll0u Oh lne siIF6r qucotIon' hibeI IcIhl-
ing bis axioms of sound finance, he con-
cludes:
$50 that for all practical purposes we
may regard gold as the only true stand
ard, tue true money OF the world, by
which the value of all property, of all
productions, of all credits, and of every
medium of exchange, and especially of
ali paper money, is tested"
UNION THEOLOGICALS SEMINARY
The Directors Decide In Favor OF Its
Removal 10 Richmond.
| DANvILLE, Va, Oct. 18.-A special
meeting of the Board of Directors OF the
Union Theological Seminary of the Pres
huferian church Was held here today tC