"I say that instead of desiring to strike down silver we will likely build it up; and any measure that could be adopted for an international ratio that will not demonetize gold will meet my approbation and favor. But I would not dissever the financial business of this great country of ours, with its 65,000,000 of people, from the standards that are now recognized by all the Christian nations of Europe. I would not have our measure less valuable than the measure of the proudest and haughtiest country of the world.
"This is not a question of the mere interest of Nevada or Colorado. It is not a question about what Wall street will do. They will always be doing some deviltry or other, it makes no difference who is up or who is down. We take that as a matter of course. The question is what ought to be done for the people of the United States in their length and breadth. If Congress should say that in its opinion it is not now wise, after our experience, to continue the purchase of silver bullion, is any injustice done to Colorado or Nevada? Are we bound to build up the interest of one section or one community at the expense of another or of the whole country?
"No. I heartily and truly believe that the best thing we can now do is to suspend for time, at least, the purchase of silver bullion. We should then turn our attention to measures that are demanded immediately to meet the difficulties of the hour. Let this be done promptly and completely. It involves a trust to your officers and great powers over the public funds. I am willing to trust them. If you are not, it is a strange attitude in political affairs. I would give them power to protect the credit of the government against all enemies at home and abroad.
"If the fight must be for the possession of gold, we will use our cotton and our corn, our wheat and other productions, against all the productions of mankind. We, with our resources, can then enter into a financial competition. We do not want to do it now. We prefer to wait awhile until the skies are clear and see what will be the effect of the Indian policy, and what arrangements may be made for conducting another international conference. In the meantime let the United States stand upon its strength and credit, maintaining its money, different kinds of money, at a parity with each other. If we will do that I think soon all these clouds will be dissipated and we may go home to our families and friends with a conscientiousness that we have done good work for our country at large."
I was frequently interrupted, and this led to the discussion of collateral questions and especially the dropping of the silver dollar by the act of 1873, the history of which I have heretofore stated. This speech was a temperate and nonpartisan presentation of a business question of great importance, and I can say without egotism that it was well received and commended by the public press and by my associates in the Senate. Though I sought to repeal a single clause of a bill of which I was erroneously alleged to be the author, I was charged with inconsistency, and my speech was made the text of the long debate that followed. The "silver Senators," so called, attacked it with violence, and appeals were made to Democratic Senators to stand by those who had defeated the election law, and by the position the Democratic Senators had previously taken in favor of free coinage.
On the 28th of September, and on the 2nd, 13th, 17th and 28th of October, I made speeches in the current debate, which extended to every part of the financial legislation of the United States since the formation of the government. I insert here the description given by the Washington "Post" of the scene on the 17th:
"The climax of the remarkable day was now at hand. There is no man in the Senate for whom a deeper feeling of esteem is felt than John Sherman. He saw the Republican party born, he has been its soldier as well as its sage, he has sat at the council table of Presidents. His hair is white, and his muscles have no longer the elasticity of youth, but age has not dimmed the clearness of his intellectual vision, while it has added to the wisdom of his councils. Upon Mr. Sherman, therefore, as he arose, every eye was turned. Personalities were forgotten, the bitterness of strife was laid aside. In a picture which must live in the memory of him who saw it, the spare and bowed form of Mr. Sherman was the central figure. There was not the slightest trace of feebleness in his impassioned tones. Except once or twice, as he hesitated a moment or two for a word to express his thought, there was not a reminder that the brain at seventy may be inert or the fire be dampened in the veins.
"Mr. Sherman spoke, as he himself said, neither in reproach nor anger. It was the appealing tones that gave his speech its power —its convincing earnestness, its lack of rancor, its sober truth that gave it weight. Elsewhere it is printed in detail. Suffice it to say here that he predicted that the rules would have to be changed since they had been made the instrument of a revolutionary minority. Never before had he seen such obstruction in the Senate, never before the force bill had he known of a measure which failed, after due deliberation, to come to a vote. The Republicans had remained steadfast to the President, although under no obligation to him, and now the time had come when the Democrats must take the responsibility.
"In times past, when the Republicans were in the majority, they never shrank from responsibility. They were Republicans because they believed in Republican principles and Republican men and Republican measures, and whenever a question was to be decided they never pleaded the 'baby act' and said 'we could not agree.' They met together and came to an agreement, and in that way they passed all the great measures which have marked the history of the last thirty years of our country, and it was not done by begging votes on the other side.
"'They say they cannot agree, They must agree,' thundered Mr. Sherman, drawing himself to his full height, and pointing his quivering finger to the Democratic side, 'or else surrender their political power!'