On the 1st of July I started from Baltimore, by boat, for Boston, for the recreation and air of a short sea voyage. I arrived on the 3rd, and met, as usual, a reporter who asked many questions, among others as to the condition of the silver bill and whether Harrison would approve it if it should pass. I answered, I believed Harrison would veto it, and also believed that if Cleveland was in the chair he would do the same.
Pending this presidential nomination, my mind was fully occupied by my duties in the Senate. I made my two days' speech on the silver question, already referred to, when the active politicians were absorbed in what was to happen in the convention at Minneapolis. I quote what was said in papers of different politics, not only as their estimates of the speech, but also of the state of my mind when it was made:
"The two days' speech of Senator Sherman on the Stewart silver bill is undoubtedly the greatest speech he has ever made. More than that, it is probably the greatest speech that ever was made in the Senate on any financial question. It is interesting to note that Mr. Sherman, after speaking two hours and a half on Tuesday, said that he was not at all tired, and was ready to go on and finish then. This was said in reply to a suggestion that the Senate should adjourn. For one who has passed his sixty-ninth year, this is surely a remarkable exhibition of mental and physical powers.
"Such a speech, covering not only the silver question, but the whole range of national finance, cannot be reviewed in detail within the limits of a newspaper article. All that can be said about details is that Mr. Sherman has not merely a well furnished mind on the whole range of topics embraced in his discourse, but so well furnished that there is no point too small to have escaped his attention or his memory.
"Give him a clear field, such as the statesmen and financiers of
Europe have, where there are no wrongheaded and befooled constituencies
to be reckoned with, and he would be facile princeps among them."
—New York "Evening Post," June 2, 1892.
"In his latest great speech on free coinage, Senator Sherman, after depicting the inevitable disaster which the silver standard would bring upon the United States—drawing an impressive lesson from the experience of countries having a depreciated silver currency— deals with the subject of bimetallism in his usual lucid way. He has been called a 'gold bug,' and is no doubt willing to accept the epithet if it signifies a belief in the gold standard under present conditions. But he declares himself to be a bimetallist in the true sense of the term.
"What the Senator means by bimetallism is the use of gold and silver and paper money maintained at par with each other; more definitely, the different forms of money of different temporary values must be combined together by the law in some way to make them circulate as equal with each other. This is accomplished now by our laws and the pledge of the government to keep all forms of money at a parity with that form having the greatest intrinsic value. Whether, under the law requiring the purchase of 54,000,000 ounces of silver a year, silver and gold could permanently be maintained at the same value as money, at the existing ratio of sixteen to one, is a matter concerning which the Senator expresses doubt. He would repeal or materially amend the law of 1890. Furthermore, he would change the ratio. The increased production of silver and the consequent decline in price warrant this course, and it is a financial and business necessity if silver is to enter more largely into circulation or into use as the basis of paper."—Cincinnati "Times Star," June 4, 1892.
"In a conspicuous degree Senator Sherman, of Ohio, represents the noblest principles and traditions of the Republican party. He is an astute politician; but, much better than that, he is a wise, public-spirited, broad-minded statesman.
"With regard to the financial and economic principles, which are vital ones, and which must be made the dominating ones of the Republican campaign, Mr. Sherman's opinions and convictions are known to be in harmony with those of shrewdest judgment and wisest, safest counsel. Mr. Sherman is the strongest, most effective defender of the principle of honest money now in public life, and a consistent supporter of the policy of protection.
"Within the last few days Mr. Sherman, in one of the most masterly and cogent arguments ever made in the Senate, has indisputably proved the length, depth and breadth of his perception of true, just, safe financial principles and his unconquerable loyalty to them. At a time when the enemies of an honest, stable currency are seeking to destroy it and to set up in its place a debased, unstable, dishonest currency, the country would accept this exponent of sound, wise finance and a reliable, steadfast currency with extraordinary satisfaction."—Philadelphia "Ledger and Transcript," June 8, 1892.