The majority of the committee, I among them, believed that the United States should not take advantage of its own wrong, in not redeeming its notes in coin, but should either advance these notes to par in coin, or pay its bonds in coin.
John Sherman
The Public Record
John Sherman was an American politician from Ohio who served in federal office throughout the Civil War and into the late nineteenth century. A member of the Republican Party, he served in both houses of the U.S. Congress. He also served as Secretary of the Treasury and Secretary of State. Sherman sought the Republican presidential nomination three times, coming closest in 1888, but was never chosen by the party. Between 1861 and 1897, John Sherman served in the U.S. Senate for nearly 32 years and holds the record for longest serving senator from the state of Ohio.
But the notes were obligations of the United States, and it was the duty, and then within the power of the United States, to advance these notes to par in coin.
These decisive votes against contraction definitely settled the policy of the government to retain in circulation the then existing volume of United States notes.
It will encourage business men to continue old, and embark in new, enterprises, when they are assured that no change will be made in the measure of value without the open and deliberate consent of their representatives.
This will strongly impress upon Congress the imperative duty of acting wisely upon financial measures, for the responsibility will then rest entirely upon Congress, and will not be shared with them by the Secretary of the Treasury.
If contraction ought to be established as a policy it should be by Congress, not by the Secretary of the Treasury, and it is not wise to confer upon any officer of the government a power of this kind, which can be and may be properly…
This bill will restore to the legislature their power over the currency, a power too important to be delegated to any single officer of the government.
It may be wise, it may be beneficial, but still it has been so rapid as to excite a stringency that is causing complaint, and I think the people have a right to be relieved from that.
Early in the first session of this Congress, the opposition of the people to the policy of contraction, constantly pressed by Secretary McCulloch, became so imperative that both Houses determined to take from him all power to diminish the…
If he had succeeded as he hoped, he could have changed his temporary appointment at pleasure, and thus have defied the authority of the Senate and the mandatory provisions of the constitution and the law.
I cannot resist the conclusion, from the evidence before us, that he was resolved to obtain a vacancy in the department of war in such a way that he might fill the vacancy by an appointment without the consent of the Senate, and in…
I held that the President had the power to remove Secretary Stanton, but that he had not the power to put anyone in his place unless the person appointed was confirmed by the Senate.
I stated the grounds of my conviction that the action of the President, in placing Lorenzo Thomas in charge of the office of Secretary of War, without the advice and consent of the Senate, was a clearly illegal act, committed for the…
Still, to justify the conviction of the President there must be specific allegations of some crime or misdemeanor involving moral turpitude, gross misconduct, or a willful violation of law, and the proof must be such as to satisfy the…
The President, bound as a citizen to obey the law, and specially sworn to execute the law, may properly, in his high office as chief magistrate, be held to a stricter responsibility than if his example was less dangerous to the public…
A judge would be held to higher official purity, and an executive officer to a stricter observance of the letter of the law.
A willful violation of the law, a gross and palpable breach of moral obligations tending to unfit an officer for the proper discharge of his office, or to bring the office into public contempt and derision, is, when charged and proven, an…
And we are not bound to technical definitions of crimes and misdemeanors.
God forbid that any other shall prevail here.
The novelty of this proceeding, the historical character of the trial, and the grave interests involved, only deepen the obligation of the special oath we have taken to do impartial justice according to the constitution and laws.
For the proper application of these principles we ourselves are on trial before the bar of public opinion.
It only demands of the Senate the application to this cause of the principles and safeguards provided for every human being accused of crime.
Justice is blind to the official station of the respondent, and to the attitude of the accusers speaking in the name of all the people of the United States.
This cause must be decided upon the reasons and presumptions which by law apply to all other criminal accusations.
I resolutely made up my mind, so far as human nature would admit, to fairly hear and impartially consider all the evidence produced and all the arguments made.





