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Story July 17, 1878

Eureka Daily Sentinel

Eureka, Eureka County, Nevada

What is this article about?

Thurlow Weed's letter in the New York Tribune comments on Senator Blaine's opposition to greenbacks and General Butler's support for national currency, praising Secretary Sherman's wise handling of resumption amid banker resistance, noting parallels to anti-slavery sentiments in labor movements.

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THURLOW WEED ON RESUMPTION.

Thurlow Weed has written a letter which appears in a late issue of the New York Tribune.

The veteran comments with freedom and force on the attitude of Senator Blaine, to whom he credits the planks in the platform of the Maine Republicans, in opposition to greenbacks and of General Butler in favor of a truly national paper currency. This letter shows how thoroughly Mr. Weed has retained his grip on public affairs. He sees that the labor and greenback movements contain possibilities in them of appeals to sentiment similar, but not like those contained in the anti-slavery crusade by the last generation.

There is a great deal of horse sense or political sagacity in his utterances, and indeed it may be doubted if any of the younger politicians have shown a keener appreciation of the forces that go to make up public opinion. Mr. Weed showed this by his course on the remonetization question, and he now backs that up by showing himself thoroughly alive to the new movement. His comments on Secretary Sherman's course will commend themselves to everyone at all familiar with the facts. He says:

"So far, in his discharge of his high and responsible duty, Secretary Sherman has evinced wisdom and courage equal to the occasion. He has found, I am sorry to say, but slight encouragement from bankers, most of whom remain wedded to their single standard idea. That the supply of gold is sufficient, as the specie basis, to transact the business interests of the world, will not be denied, and that the only effect of an arbitrary gold standard would be to make the "rich richer and the poor poorer." But, notwithstanding obstructions and hindrances, I rely confidently upon Secretary Sherman. Whatever his original views about remonetization may have been, when the law passed he promptly and cheerfully "accepted the situation," and finds his way clearer and his work easier by blending silver with gold, and thus doubling the money resources of the Treasury. He will, I doubt not, by liberal and enlightened constructions of law, avail himself of all the support greenbacks can furnish in effecting resumption."

What sub-type of article is it?

Biography Historical Event

What themes does it cover?

Moral Virtue

What keywords are associated?

Thurlow Weed Greenbacks Resumption Secretary Sherman Political Sagacity Currency Policy

What entities or persons were involved?

Thurlow Weed Senator Blaine General Butler Secretary Sherman

Where did it happen?

New York

Story Details

Key Persons

Thurlow Weed Senator Blaine General Butler Secretary Sherman

Location

New York

Story Details

Thurlow Weed's letter critiques political stances on currency, praises Sherman's resumption efforts, and highlights greenback movement's potential akin to anti-slavery appeals.

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