Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1895-03-07
Senator Sherman N A Glass House.


A great many wise and patriotic achieve
ments Of President Cleveland have been
condemned by political and personal enc
mics in and nut of his own party. But
probably none of his acts have been more
bitterly denounced than that OF saving the
credit of the government by his recent pur.
chase Of gold to make good the public
promises. lie made the best bargain posi-
bic under existing laws. He could have
saved sic, 900 900 10 the taxpayers II Con-
gross had given him the authority. lie OBJ
tanned ten days in which they could have
passed the bill he wanted in the interest CT
the taxpayers, but Congress refused, and
now the Presidents enemies seek TO hold
him responsible for the neglect of Congress.
OF the presidents bargain and his critics
the New York Post says:
Senator Lodge proved again on Satur-
day the easy superiority OF an educated
man over blatherskites in their own special
ty After the mining camp Senators had
poured out the vituperation on the Presi
dent for saving the public credit, the cul-
tured son of Harvard distanced them all
by saying of the bond contract: II is on
its face the blacklist public contract ever
made by the government of the United
States. Yesterday the cry was taken up
by Senator Sherman. He left the black
ness and the blackguardism TO Lodge, and
cnatentcl himself with calling the contract
faulty and improvidcnt' This suggests
an inquiry IA TO the nature of the contracts
which he himself made as Secretary of the
Treasury. What were they and what was
said cg them at the time? The details are
all set forth in the volumes published BY
the government in 1880 on Special Resump-
ton and Refundng of the National Debt
One has only TO read il TO discover that es-
scntially the same difficulties confronted
the treasury then as embarrass it now, and
that essentially the same measures were
chosen TO surmount them. The arguments
that make out Carlisle's contract black,
make out Sherman's blacker.
The first argument which Lodge and
his fellow blackguards use is that the treas
ury has put itself in the power of foreign.
ers The Jews have us on the hip. But
what are the names of the parties of the
second part in the contracts made by Sec
rctary Morrill, in 1876 and Secretary Sher-
man in 1877 and 1873? Why, they are
the dreadful names at the sound of which
every true American starts in horror, un-
less he is in position where he must get
luan-the names of Rothschild, Seligman,
Raphael, Kuhn, Loeb, Hoffman, and
others as ominous. On April ~, 1878, the
following cable message was received at
the treasury in Washington, than which,
rs the orators say, nothing more damning
ever appeared in government publication:
Very pleased we have entered into re-
lations again with American government.
Shall do our best To make the business sue.
cessiul. RoTHsCHILDs.'
What a splitting of Threats and cracking
OF ear drums there would be over such a
message noS-the Jew firm gloating over
victimzed secretary! The second argU
mcnt to show the exceeding blackness of
the Carlisle contracts is the fact that it
gives the syndicate an option on al bonds
that may be issued up to next October. If
ihis makes the. Carlisle contract black it
matrs the Morrill, and Sherman contracts
blnckcr. Those documents..give the wick
cd foreign syndicate not an option, but an
exclusive right Ia subscribe for further
bonds. AS q matter of fact, on two occa-
sinus Mr.. Sherman had offers for several
millions Of bonds at better figures than the
syndicate would give. He was obliged to
decline them on the ground that the syndi-
cate had monopoly. This makes a mere
option look positively white.
"Finally, say or shrek the blatherskites,
the syndicate is going to make an enor-
nous amount Of money. This Is what
worries MI. Sherman. Selling bond at
l0i which may soon be placed al rs or
100 is too much for him. Senator Gray
forcibly retorts that the great Ohio trimmer
really makes the favorable situation Great
ed by the prompt action of the treasury the
ground for eoademning it. If the action
had not been taken no BONDS could have
been sold at aay price The nation was
only three days away from bankruptcy.
Owing TO that emergency and by surmount-
ing it the bankers were able to make pro-
III ont of their investment. This is
sufrcieut answer on general principles
But a betisr answer To Senator Sherman is
of the ia QHogHe SOFT. If il is faulty and
improyident 20 sell . 81 bond at .04, with
the prospect of seeing il quoted at lis,
what is it to sell at per cent. bond at 100,
only 20 have it quoted in a few years at
1875?
Senator Sherman dwclls in an even
more fragile glasshouse than this. lie ad
mits that the motives and the character of
Secretary Carlisle are beyond suspicion.
Was the same said of him in 1877 -? Has
he forgotten the ugly talk in those years
about For sherman Has he no memory
for congressional inquiries; for demands
for a list of commissions paid, land they
mounted up into the millions for the com.
piaints about iunble interest allowed
favored ban6s. and in particular, for the
charge that he had practically handed oyer