Year: 1879

| PHILADELPHIA, July 14,-Secretar


Sherman, in the course of a speech her


to-day said: In regard to the resumptio


experiment my friend has paid me CON
pliments that are entirely exaggerated


A yeer or two ago l thought as grea


deal too much abused by q great many


Now am praised for a great man,


things l don't deserve, so hold prett,
| fair balance. had an idea when l az


sumed the Office l now hold that it woul,


be good thing to get back to the re


sumption of specie payments. They SAY


l am pretty stubborn about the princi
pies hold to, and that will carry out


what ! begin. l never had any doubt


about the ability to resume-none at all


A great many good men, some of these,


no doubt, who hear me, thought it was


not a wise undertaking to attempt to


make the vast volume of paper money
equal to gold, that we did not coin
enough to do i'll was the Judge. had


the law on my side, the power to bring
it about and the determination to do it.
The result has been happy and


beneficial to all classes Of inter-
ests, and all industries, and to
rich and poor, those who labor as


we'll as those who spend money. All are
benefited by currency such as we have
today. Now gentlemen, think have
said all l need. am very hopeful of
the future progress of our country. We
are happily situated, compared with
other countries. We have broad, un-
cultivated area of land that has never
been broken with the plough. We have
mineN compared with the enormous
wealth of which the vaunted mines of
Peru were poor and scant. The Com
stock lode and others are greater than
anything in the history Of the world.
Two years ago labor was suffering in the
principal critics of this country. Men
we're afraid our institutions could not
stand the strain and would break down,
and that period of depression greater
than that in England, France or Ger
many had come. People were suffering
and could not get work, and
discomfort reigned supreme. some
went to the uncultivated lands
in the west. Others went away,
and migration finally equalized
the demand and supply of labor until
now, In two years, l believe there is not
any part of the United States where
honest labor cannot get an honest days
work, and honest money to pay for it.
There are those who held that our cur
rency never could be maintained equally
to coin with q demand on us of eighty or
ninety millions of dollars q year. l can
sav tn Won now that we havo the unoana
50 rarely do they care about gold or
silver for money, that only seven
millions have been drawn for notes and
greenbacks. This is the strangest thing
about it. Now that gold is 80 easy to
get, nobody cares to take the
trouble of carrying it. It is
fact that in every month last year and
year before and tho year before that,
there was more gold paid from the treas.
ury than has now been demanded from
the LIST of January of this year to the
present time, for all purposes, and our
notes, instead of being at 10 or 15 per
cent. below par, now that we have actu.
ally gold and silver to pay them on
are actually at a premium.
The treasury department in San Fran
cisco wanted notes instead of gold, and
We refused to give them greenbacks. In
New York and Philadelphia no one
wants gold. When they couldn't get it
everybody wanted it. When they can,
nobody does. Resumption is now fixed
fact, but we have got to stand by and
not let demagogues and tricksters cheat
US out Of what We have accomplished.