John Sherman

On the contrary I feel a very deep interest in your efforts, so far eminently successful in carrying the country to a successful resumption.

I said: "If, within a month or so, we are able to reduce our stock of silver to five or six millions, I should not hesitate a moment to offer it then freely in New York and elsewhere, and run the risk of doing without gold revenue for…

I believe that we are through with this one; a ray of hope has dawned on us, and we are certainly entering upon a career of prosperity.

I am glad, fellow- citizens, that you are doing something to contribute to the relief of their sufferings, because business men, above all others, are to be humane and generous to those who are in distress.

The people wanted more money, and I was doing all I could, not only to increase the volume of money by adding coin to our circulation, but to give it value and stability.

I know of nothing that can prevent the United States from taking its place among the specie-paying nations at this time, except the possible repeal by Congress of the resumption act, and this I do not anticipate.

Considering that the United States notes are scattered over a vast country, are in great favor and demand, and extremely popular, I feel entire confidence in the ability of the treasury to resume on the 1st of January next, and the leading…

Our revenue, both in coin and currency, is more than sufficient to pay all current expenses covered by the appropriations of Congress.

I recommended the passage of this law, as I believed that the retirement of the greenbacks pending the preparation for resumption, by reducing the volume of the currency, really increased the difficulties of resumption.

The majority, with great unfairness, instead of frankly stating that they were deceived by a forgery, treated it as a matter in doubt.

During the investigation I specifically denied, under oath, that I had ever written or signed such a letter.

To my personal conduct during this examination I invite your fair and candid scrutiny, with entire confidence that not only myself, but my associates of both political parties, acted honestly and properly, from a sense of public duty.

When the treasury is actually unable to redeem its notes in coin, suspension comes necessarily, but resumption would come again from the absolute necessity of currency for our daily wants, and Congress could provide better in view of the…

The depreciation of paper money is not necessarily caused solely by its excess, but by the uncertainty of its value and confidence in its redemption.

The actual amount of currency in circulation, I think, will be as large in specie times as now, and its equality and convertibility will rather increase than prevent the circulation of either.

If resumption is desirable, it cannot be maintained by a repeal of the law, which requires resumption and grants the necessary powers to prepare for it and to maintain it.

The currency would rest upon the presumption that all paper money rests upon, that its use and convenience and convertibility will always keep it at par with coin.

One- half of this circulation is not redeemable in coin at all, but in legal tenders; nor does the law fix a premium on coin as against legal tenders, but simply requires an equality.

Can 'resumption' be maintained after the law has placed a premium on coin, and virtually demonetized the paper, by rendering its convertibility compulsory?

So far from being true the contract itself was printed in all the papers and the utmost publicity was given to every step taken.

While I was congratulating myself upon accomplishing an important work for the people, I had aroused an animosity more bitter and violent than any I ever encountered before or since.

Because we have been so fortunate this far in the progress towards resumption is no reason why we should assume an additional burden.

I have thought so much about this, and am so much troubled about it, that I would feel almost like giving up the ship rather than to undertake the additional task which the bill as now reported would impose upon me.

To throw upon the treasury the possibility of the necessity of buying coin to pay the interest of the public debt, in addition to buying that which is necessary to maintain resumption on United States notes, is simply to overload the wagon…

This provision may defeat the whole of our policy for which we have been struggling so long and to which our party is so firmly committed.