The Washington herald., 1914-09-08
HISTORY BUILDERS.
Why Secretary John Sherman Imi-
tated the Sphinx.
(writtsn Expressly for The HrAh.)
ByDR. ID. J. EDWARDS.

CTrittsn Expressly for The HGAh)
ByDR. ID. J. EDWARDS.
It would not be possible for any man
TO change his attitude toward those in
public and business life with whom he
was brought into daily contact more
swiftly and more impressively than did
John Sherman after he retired from the
ofice OF Secretary OF the Treasury TO
re-enter the Senate as Senator from Ohio
In the spring Of 1881.
When Secretary OF the Treasury, Sher-
mans constant attitude when away from
his home was that of a man who had no
passions, no sympathies, no social asso-
Citations. He was sometimes spoken OF
as an iceberg. The expression on his face
was as cold and masklike as that OF the
sphinx.
But the moment he re-entered the Sen
ate he became again the John Sherman
with whom the public at Washington and
elsewhere was familiar before he entered
President Hayes Cabinet as Secretary OF
the Treasury. He became voluble instead
OF taciturn, and he at one time explained
to me that while he was Secretary OF the
Treasury he regarded II as OF the utmost
Importance that he should maintain the
attitude Of coldness which he did assume.
He said that he had learned that cunning
men sometimes got hints from the words,
a
Secretary OF the Treasury, which they
utilized in stock market transactions. As
he knew that perhaps the greatest Of the
responsibilities which would be upon him
while serving as Secretary Of the Treas
ury would be such as to make a success
ful resumption Of specie payments GER
tain. he felt that IL was essential that he
should not reveal his purposes in any way
to any man.
lieved. about the year after he returned
to the Senate, would probably never real
ize the enormousness Of the task which
involved the resumption of the specie
payment Probably they will not realize
in the future fully what that action
meant for them.
Il was persuaded, In the latter part OF
President Grants second administration.
that the United States would never be in
a position which would make US funda-
mentally sound. both financially and in
dustrially. until every dollar of our paper
money was based upon coin." said Mr..
Sherman.
1T was for that reason that I urged
the legislation which was adopted provid
ing for the resumption OF specie payment
four years later or on January /. 1879.
felt confident that. whatever the results
OF the Presidential election might be.
whichever party was in power would see
TO II that the resumption OF specie pay
ments could be effected on January l.
1879"
Here Senator Sherman smiled gently.
and. with that quaint and characteristic
movement OF his LIPS with which those
who we're near him were familiar. added:
OF course, could not foretell who would
be the Secretary of the Treasury upon
whom the responsibility for securing re-
sumption OF specie payments would be
placed.
1T was tremendous problem. We
had nearly $50. 900 in paper money.
and. in comparison with specie, IL was
II cents below par. OF course, for that
reason II kept specie out Of circulation.
II was accomplished. however, and after
January, 1879. all forms OF money in the
United States were equivalent to coin.
This served as an object lesson to the
people. and / was then persuaded tina;
never again would the American nation
tolerate the idea OF a paper currency
which did not stand absolutely and per-
fectly upon coin. What followed was the
beginning Of a prosperity which is now in