Show go fw for thu a paper SENATOR SHE RitAN by frank Q Ow carpenter pouter IM 1896 0 I 1 IAM AM NOT A candidate for the presidency and if all the people of the united cited states a should jom together and oner offer it to me I 1 would not accept the position I 1 am too I 1 aw d lj 0 man anan ol 01 s seventy two has the to undertake the work and res at ng P tat y which come to the chief executive of the united states it is a tion of wear and tear and I 1 it should W have vve a younger man these were the words of senator john as we sat together in a little ummer summer home blowe and feasted our eyes on one of the roost beautiful farming scenes ot of the united states for miles on three sides of if US rising and falling failing in billowy rolls extended the fat far arms rn s of richland county a vast crazy quilt of ciany color 44 crops away off to the right was ahe new ohio reform school looking lwe like a castle with its walls of gray stone pifei nearer still in the valley were the big biff factories which have made mansfield one of the richest towns and bet business points in the states d in pt of us fir far 0 off ff on the borwer horti ho coklay wt Klay lay he county fair wl oi racer were then on and w which senator sherman old ine we collid see trough through his tele COP A if 4 were wece interested in the horses r ranted to get a sight ot of in I 1 was more interested however in the coming race lor for the presidency and I 1 had asked the sena bof mcw point mack the question as s to betl xer he would buld again iye a candidate tot tim was his bis reply it came from no his 11 aps in firm flim sharp and decisive ton tones et abd raould 1 could see from the expression of hw face thethis that his presidential ambitions have passed fo forever ater after making the above remark he copped a moment in seeming aedita ajda and then went on 4 ves the presidency has always been a position ot 01 great wear and tear it him afu broken down many men in the past at t la 11 probably do the same in the future and still i dont see why it be so chave 1 have a different din erent idea of tb the presidency than that which has been stew layman y of our pres presidents iden ts I 1 toe be lieth 61 the thief chief evecuti ve should be of leisure rather than an official habat he should have time to consider and study stud the great reat matters of public policy act j with his office and he houa not WO worry i himself over details these should be left led to his subordinates his cabinet ministers should relieve him from all that dud drudgery they should be his bis assistants assistant sint in the gery e carrying out ot his policy he should rely upon them to do their work and he should not devote his time and brain to examining the pap papers e rs of petty postmasters or of f the tide waiters at every small custom house he should rely upon his cabinet ministers to carry out his bis policy it they do not like his policy alicy and will not accept it lot let him Ti discharge them and take others but he has hai no right to fritter away his vital force on clerical details what presidente 9 i have appreciated this fact senator said 1 I and have saved themselves for the great questions with which they y bad todeal to deal senator eberman thought a moment and then replied abraham lincoln I 1 think did so more than any of the others he chose great men for his cabinet officers and he trusted them he left each man to do his own work and he often laughed at the members ot of his cabinet on account ol of the fuss they made about their trouble with office seekers and their details of official management Lincol ns mind was taken up with the great things of the war he had only one idea and that was to save the union this was the idea that dominated the country and the whole north during his presidency it overshadowed everything else and it absorbed him As for cleveland he be is a busybody and he must know everything 11 1 1 wio who will be bethe the republican candi ia i adi date for the presidency senator I 1 asked 1 I cannat say I 1 have learned leaned not to prophesy much as to the future I 1 can see no furtner into a millstone tone than any other man what you ask as to the past I 1 will W be glad to answer but not as to the future I 1 can valy only say that we do dc not lick lack good candidates there them is reed of maine his ability is is I 1 beyond question tion and ho he would be acceptable tu to the republican party his locality is ii against him however there is mckinley he is an able man and will make a good candidate he will I 1 believe have the support of ohio and I 1 would like to st see e him nominated going f further west goich we find senator allison he e is a sound round man and has bas a good record he would make a good candidate and a good president i think the situation is such that there is little doubt of our electing a president and that a republican will take his scat in the white house in I 1 0 o 1897 what will be the issues they will bt be the tariff and the finan cial question the democrats have so tampered with the tarifa that they cannot raise enough revenue to pay the governments expenses pen ses and this will eave have to be remedied the silver question will come up in some shape or other and this may divide the demo era cratic tic party I 1 dont believe that it if will greatly injure the re republican publican party will the republican party ever espouse the cause of a double standard senator jeu ator I 1 asked 1 I think not replied senator sherman you cant have two standards ards ot of money yo you U in may ay have gold or you may have silver but b u you yo u cant have both as standards A at t the present value and fluctuation of silver I 1 dont think there is any danger ot of the people choosing it as our standard there is a wide misimpression and misunderstanding concerning cerni the condition of silver in the united unite nl states we have more silver in use now than ever before there is worth of silver in circulation which is represented by silver certificates and there is worth of gold As a reserve fund to redeem the gold we have in the treasury or less than one third As a reserve fund to redeem we silver certificates we have enough bullion and silver dollars to redeem them dollar for dollar in silver in other words there is three times as much silver as gold used and in circulation the silverbow ever is used as a subsidiary coin we will never have anything like bimetallism in this country except to a change of ratio no international agreement will ever be reached for the use of silver and gold at the ratio of 16 to i which is demanded by the free coinage advocates of the united states this tree silver movement is made up of the same elements which composed the greenback m movement ve ent along late in the so seventies seve v enties aties they then said the country would go to ruin ruin if the government did not shovel out greenbacks green backs by the tae buna hundreds reds of millions they prophesied that resumption could never taki take place they always belong to that class who want to contract cn tract debts iq in a adear dear money and then change the laws so they can pay them in a cheaper money they did not succeed in the past they cannot succeed now you were secretary of the treasury senator sherman under president hayes at the time of resumption and you u were author of the resumption act rd did you not find it easier to i esome than vou thought I 1 yes I 1 suppose so replied senator sherman 1 I have always had faith in the business ability of the american people I 1 have always believed in ia their bo honesty nesty I 1 am an optimist rather than a pessimist and I 1 never lost faith in our ability to pay our debts when I 1 be came secretary detary of the treasury I 1 be lieveld the debt could be reduced and that our rate of interest could be lessened though I 1 nad no idea how and bow easily the latter could bedone bedon mrie e I 1 be CAMA S at reu ela at the T tre arp e h a ut ii sot van hu u mil ns bof of ae d a jt b ae ve ail ail s six i r cen bo b t almi abd there er as a contract existing between a syndicate country aind europe europ 1 lor for the sale of three hundred millions ol of bonds at 4 per cent these bonds we re to te for refunding purposes eg and about worth had been sold before I 1 became secretary I 1 thought this could be reduced and d I 1 wrote a letter to the shortly lifter after I 1 became secretary telling them I 1 I 1 proposed to withdraw these bondas soon of their sale reached as I 1 expected to put a four per dent cent bond on the market at this time there seem seem to be much ot of a dem demand 1 and tor for the 4 ya pet cents they were below par in europe europe and only a little a bove above par here the announcement of the prospective active four per cents caused them to rise and within about three months the whole two hundred millions were taken the credit of the country rose and I 1 got par tor for my tour four per cent bonds then congress met and thirteen bills were introduced to repeal the resumption act and a large number of other bills were brought forth to restore theun the unlimited coinage of the silver dollar which was then worth eighty five cents in gold this scared the investors and the subscriptions to the four per cent bonds ceased As congress went on however it was seen that these bills could not pass and during the next session the people saw that resumption was to be a fixed fact and the four per cents again came up I 1 had sold enough to give me a sufficient gold reserve and on the of january 1879 the govern overn ment was ready to give coin for ahl all legal tender notes to our surprise no one seemed to want it one well known financier of new vork york had said only a few months before that he would give kokoo to be at the head of the line on the day ol of resumption tion he could have gotten his place far tor do nothing thing it was late in the day only that a tew few stragglers came in and asked for coin and at the end of the first day of resumption the government really had more coin than ahad in the morning but how about the bonds senator I 1 asked they had been selling steadily was ws the reply land and after resumption the eople were crazy to get oem hem one bundred undred and fifty million dollars worth of the 4 per cents were sold during january and this against the proceeding prece eding month we called in the 6 per cent bond sand still the subscriptions increased along about the ot of april the bonds began to appreciate and there was a great rush to get them one hundred and fifty million dollars worth were taken in une day and I 1 received a telegram one morning at a cabinet meeting at the white house askin asking g fo for r worth of bonds I 1 opened it leisurely and when I 1 looked at it 1 I thought there was a mistake I 1 supposed it must be I 1 telegraphed at once to the matt man to repeat his bis telegram it came bark back within an hour and there was no mistake about it tor the words were written out the man wanted and he wanted to know biow ahter whether he could have them I 1 replied that he could this telegram came from the national bank of cornce roce oi of new york soon after another ne byork york bank telegraphed for land and ow 1 9 ims ms bac bacu it as aska k 0 f 1 0 ther other as f or 30 ad t refuse ao 60 w tb that day because the requests came too late day if was t alfis that I 1 concluded to raise the price of the put them at a p premium premium st one half of i per cent above par pae I 1 wanted to redeem the ten forty bonds that were then outstanding and I 1 offered to sell of 4 per cent bonds at this premi premium tim most of the financiers bf the united this was too low I 1 asked a number ot of them what they thought of the plan and they all told me I 1 would never sell 4 per oer cent bonds at a premium thi the day the loan was ocene opened I 1 had blid another surprise the bonds bonas were offered at noon on april 16 1879 and before the close of banking hours I 1 received a subscription for worth the next afternoon the telegrams began to come coine one was for and just before the close of business that day the first national bank of new york telegram telegraphed ed that they would take the entire and of re refunding fundin certificates in addition we refused refuse to give hem the refunding lunding re certificates and they got I 1 think I 1 worth of the bonds the remainder of the loan having been taken before their telegram came there were more subscriptions to that loan that day than we c could cold supply and we closed out the whole of the bonds and were able to call in the entire outstanding ten forty loan the amount of the subscription and the rapidity with which they came in that day staggered me and I 1 remember I 1 telegraphed the new york bankers that I 1 would like to know if they were not all crazy you are asking about the senator sherman went on A curious curios incident happened in connection with the head bead of the london house in regard to one of these low bond issues he had bad had the refusal of worth of the 4 per cent bonds in case they were not subscribed for foi in america he was written to and asked if he would take them he replied that he thought he would take a million dollars but that he would like a week to decide as to whether he would do so or not in the meantime the great rush tor the bonds bond occurred and abd hildi then wanted his worth at time however the bonds had been idl all sold and I 1 had to tell him that he could not have them he made such a tuss fuss about it that august belmont and others ot of a new york syndicate syndi date who were dealing with him took worth of the bonds from their own purl purchases hases and sent them over to him he was too proud to accept the bonds in in this way and he sent them back at least this is the story that was told me I 1 tried to keep the bonds as far as possible in the united states and to favor out own purchasers over those of europe what was the difference in them in terest paid by the government through these refunding operations it was enormous replied senator sherman you am see the amount of the p agov public ii c debt which was refunded in the above e way was nearly and the savings in interest amounted to nearly a year I 1 am dexy fortunate it in my visit to senator be at the present I 1 c canetto cafa eSio 0 mansfield ma la ai I 1 field 15 tec di u go I 1 him d U ere Z li t h was aril n m 0 aad and n new e w at his c ae io iliyof of p private ate M ers rs reatar a th taftt t 0 ot any other r man in in public life during aring my talk with him he told me that he was working among his papers but he had bad not nol t Is as s yet decided whether he would publish a book of or n no af nd and cirit he not allow me to state that he proposed doing so kenegan Ke began the wo k he said with the idea ot of making a collection of his ais speeches but he finds his material so vast and of af such a varied and interesting nature that he be is still at sea as to what he will ill do with it his letters are numbered by the tens of thousands and they embrace the names of every man who has been in the united statis states during the last forty years and of the greatest thinkers of all parts of a the world john sherman hat baft been a pait ot of every public movement it in the united i State sand there is scarcely a millionaire a scientist or a statesman who has not consulted with mm him me he nas bar fifteen volumes of autograph letters each ot or which is as big as a dictionary which he has kept chiefly for I 1 the sake of toe names appended to them and his private correspondence car embraces a large part ot 01 the unwritten history of the past pa qt generation james G blaine was a man maim rather ot of speeches than ot of deeds john joba sherman has been a man of action and still he has made more speeches than blaine his public work began when frank |