New-York tribune., 1900-10-23


consequently Of the National existence Mr.. sher-
man mar always regarded his speeches on State banks
ana on National banks at that time the most
important that he made in the Senate during the
FINANCE IN THE SENATE
During the recesses OF Congress Mr.. Sherman
made it point visit the Union armies in the
neld He was elected to a second term in the
Senate and when Mr. Fessenden appointed
Secretary of the Treasury Mr.. Sherman became
chairman of the Committee on Finance. But when
Mr. Fessenden returned TO the Senate Mr.. Sherman
voluntarily surrendered that position to him. Mr..
Sherman opposed to the issue of per cent
bonds to fund the floating debt, and always be-
lieved that if the policy he then recommended had
and the floating Indebtedness could have been
chairman Of the Finance e COMMITTEES at the end Of
the the session r and was succeeded by MI Sherman
with the various financial measures of Congress
the Refunding act and to have taken the most
prominent part in the financial measures that be;
came laws. In 1870 the RefUndinC act adopted
Substantially as he had proposed 1t in 1867, but
snsi 1Ur Irg 5j M ma 10 T Si 70 %
the panic of 1873 he had repeatedly introduced meas
bin a9horzing m the % conversion Of United states
notes into bonds passed the Senate. but was de
The Senator supported the tariff of 1851 and was
seVeTa nc IN IeSnue THG ax and
reducing them to a lower rate on whiskey, TOBACCO
ton and sustained biils looking large collections
OF duties on imported goods and 70 JhS eped Us al
cation was set on foot by Congress. Mr.. Sherman
cause, as it was said by them, he had amassed
improperly. These charges he at once mg[ oy S tw2
letters one addressed to The Cincinnati ENQUIRER
letters stated the exact facts and Mr. sherman's
defiant attitude toward all similar accusations con
VinCingly answered the charges
THE MOVEMENT FOR RESUMPTION.
In December. 1874. Senator Sherman initiated the
movement for the resumption Of specie payments
and was chosen 70 the Senate for the third time
Through the long financial discussions that fol-
lowed and paved the way specie payments, he
never wavered or lost courage After the election
of 1876 he of the celebrated visiting com
mittee sent to Louisiana to watch the counting of
votes President Hayes. his inauguration on
March l. 1877 appointed Senator Sherman his Sec
TeaSy e the 5 5uM M s M 81 n = per Te
funding bonds and o MADE @ 9GntraSI con WR bc5 be
+IoG @ Qa nnG oG az ~ ms tSss bonds had been dis
posed of when he became Secretary, before July. !,
1871 500 1000 had been taken. OF which sloVO9Go
drew the balance of the bonds from the bankers.
In less than six months he had so raised me cret
enabled to sell per cent bonds At par and also TO
exact from the bankers who took the loan con
dition that they should be open 10 SAFE TO TIC pun
I1.anvn,Ie he had secured at least S2oooooo for
resumption purposes Books of subscrlptlQ-s 70
this loan were opaned thToufh2u[ IN me more
than S75 600 900 of bonds sold OF which SO
4b0uT The time that this wise and daring trans
action had been completed Congress convened IN
spet.al session, and the Secretary had 10 contend
With an opposition TO his policy that caused much
aePrGIIon I IN me PGP Pp6dced to repea the Resumption
act and one was passed in the House Bills were
Of silver then worth about IS cents in go!d- IN
spite Of the opposition 10 his p9IGy " ~HJeh nc & nad
less effort to convict him of political maversion
in IL and I on JanGary Is 1873 the day xed by law
for resumption he had accgnulated $4,000 20 IN IN
gold in the Treasury, The detained record OF yle
measures by which legal-tcnder notes reached a
par y9s and S Th4h S sB9%ed sBe2s fp2n tha man Gn
whose lead this done as tnancier OF the high
Upon the resumption of specie payments Mr..
sherman put into eXseGton [rsS4 ma SGrTS i0r %
debtedness. and so successful was he that az @the @
making a saving in annual interest Of S501oo'"
\ CANDIDATE AT CHICAGO.
In 1881 Mr. Sherman was a candidate for the
Presidential nomination at the Republican Ma
tonal Convention at Chicago. his name being pre-
sented by James A Garfield. who finally received
the nomination. He again returned 70 the United
States Senate I'm 1851 and retained his seat there
through three successive terms. He received 90
votes on the first ballot Republican Presidential
nominee at the National Convention OF 1855. and 249
In his later Senatorial career he entered new
priatiors Cor,ri+tss - lrLiCh he W. ch,f~r1 q ~
most OF the time. and in which capacity he was
pertaining 10 foreign Affairs while his long service
on the Finance Committee and IN the Treasury
Department kept him prominent also as a leader
in the fght for sound money
Senator sherman again reLnquished his place in
the upper house of Congress on March 4, 1897 TO
accept the Office of Secretary of State under Presi-
dent Mckinley: That office he retained until April
25 1895 when. by reason of his health. which had
become impaired by years Of devotion TO the pub
lie service and his advanced years he resigned
In March. 1888 AIr- Sherman made a trip to the
West Indies the steamship Paris He at
tackled by pneumonia, and report OF his death
United States the cruiser Chicago. sent for that
purpose by President Mckinley After his arrival
then went 70 his home in Mansfield Ohio. where
his wife died last June. He recently removed
to Washington intending TO make that city his
home for the remainder of his life
Mr., Sherman had no children OF his own, His
adopted daughter married TO James Mccall
lum, OF Washington in 1880
Mr. sHERMAN'S WRITINGS.
Those who wish TO study the life of John sher-
man in detail should read his "reminiscences. pub
hshed in 1895. entitled John Sherman's Recolleo-
tons of Forty Years in the House Senate and
Cabinet" Mr.. Sherman also published in 1879 his
Selected Speeches and Reports Finance and
Taxation. 1S55-1S7s." II was announced recently
that he was hard work a supple
ment to his Personal Recolections." The Let
ters Of Two Brothers,, that is OF John Sherman
and General William Tecumseh sherman pub
lished in 1894, should not be neglected, This cor
Paul Thorndike General Shermans daughter and
Is of the greatest interest Among the other books
Poore in 1855 entitled THE Life and Public Ser.
vices of John Sherman and another puohshed
titled John Sherman: What He Has said and
Done
Mr. Sherman's former home. at Mansfield, Ohio
stands in a large park. surrounded by twenty acres
of lawn. He has extensive library which Is espe-
ciaIly strong IN finance. American 6i9graPay bog ana
lngton. where they occupied one OF the most beau
situated in K-st.. and was built in 1898.