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JOHN SHERMAN (x823-1900)

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Originally appearing in Volume V24, Page 851 of the 1911 Encyclopedia Britannica.
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JOHN See also:SHERMAN (x823-1900)  , See also:American financier and statesman, a younger See also:brother of See also:General W . T . See also:Sherman, was See also:born at See also:Lancaster, See also:Ohio, on the See also:roth of May 1823 . He began the study of See also:law at See also:Mansfield, Ohio, and was admitted to the See also:bar in 1844 . For ten years he practised his profession with success, and with only casual See also:interest in politics .. His associations and predilections were with the Whigs, and he was a delegate to the See also:National See also:Convention that nominated General Zachary See also:Taylor in 1848 . Upon the See also:repeal of the See also:Missouri See also:Compromise by the See also:Kansas-See also:Nebraska See also:Bill in 1854, he joined the See also:great popular See also:movement in Ohio against the policy represented by this bill, and was elected to See also:Congress in the autumn of that See also:year as an " See also:Anti-Nebraska See also:man . In the summer of the next year he took an active See also:part in the formal organization of the Republican party in the See also:state, and at the opening of Congress in See also:December began a See also:long career of public service . As a member of the See also:House (1855-1861); he quickly manifested the qualities which characterized his whole See also:political See also:life . Though a thorough and avowed See also:partisan, he was within the party the counsellor of moderate rather than extreme See also:measures, and thus gained on the whole a position of great See also:influence . He was a member of the See also:committee sent by the House in 1856 to investigate the troubles in Kansas, and drafted the See also:report of the See also:majority . In 1859 he was the Republican See also:candidate for See also:Speaker of the House, but was obliged, after a contest that lasted two months, to withdraw, largely because of the recommendation he had inadvertently given to an anti-See also:slavery See also:book, The Impending Crisis of the See also:South (1857), by See also:Hinton Rowan Helper (1829-19o9) .

He became, however, chairman of the Committee on Ways and Means, and was instrumental in the enactment of the See also:

Morrill . See also:Tariff See also:Act of r86o . In See also:March 1861 he took his seat in the See also:Senate, to which he had been elected to succeed See also:Salmon P . See also:Chase, when the latter became secretary of the See also:treasury . As senator he sat continuously until he became secretary of the treasury in 1877 . His interest and efficiency in See also:financial legislation in the House led to his See also:appointment on the Senate Committee of See also:Finance, and after 1867 he was chairman of this influential committee . He thus became associated with the enactment of all the great fiscal See also:laws through which the See also:strain of See also:war and of reconstruction was sustained . He gave See also:earnest support to the Legal See also:Tender Act, and the substitution of the national for the state banking See also:system . When after the end of the war the question of financial readjustment came up, he vigorously opposed Secretary See also:Hugh McCulloch's policy of retiring the legal tenders, and urged a different See also:plan for effecting the resumption of specie payments . On the questions See also:relating to political reconstruction and the policy of See also:President See also:Johnson, he supported his party, though opposed to its See also:Radical leaders . He warmly advocated the insertion in the Reconstruction Acts of a See also:provision ensuring the See also:early termination of military See also:government; and he opposed the See also:impeachment of President Johnson, though he voted for conviction on the trial . During the administrations of President See also:Grant his leadership in shaping financial policy became generally recognized .

The Resumption Act of 1875, which provided for the return of specie payments four years later, was largely his See also:

work both in inception and in formulation, and his appointment to the See also:head of the Treasury See also:Department by President See also:Hayes in 1877 enabled him to carry the policy embodied in the law to successful See also:execution . His See also:administration of the department, in circumstances of great difficulty arising out of the " greenback" agitation and the adverse political complexion of Congress, won him high distinction as a financier . At the end of the Hayes administration he was again elected to the Senate from Ohio and held his seat until 1897 . During this See also:period he was largely concerned in the enactment of the Anti-See also:Trust Law of 189o, and of the so-called Sherman Act of the same year, providing for the See also:purchase of See also:silver and the issuing of Treasury notes based upon it . This latter Act he approved only as a means of escaping the See also:free coinage of silver, and he supported its repeal in 1893 . In 188o and 1888 he aspired actively to the Republican nomination for the See also:presidency, but failed to obtain the requisite support in the Convention . During the last years of his senatorial career he was chairman of the Senate Committee on See also:Foreign Affairs . Upon the See also:accession of President See also:McKinley in 1897, he resigned from the Senate and became secretary of state; but under the tension of the war with See also:Spain the duties of the See also:office became too exacting for his strength at his See also:age, and in See also:April 1898 he resigned and withdrew into private life . Infirmities multiplied upon him, until his See also:death at See also:Washington on the 22nd of See also:October 'coo . A selection from the See also:correspondence of See also:John Sherman and his brother Gen . W . T .

Sherman was published as The Sherman Letters in 1894 . Sherman published Recollections of See also:

Forty Years in the House, Senate and See also:Cabinet: an Autobiography (See also:Chicago and New See also:York, 1895) . A See also:volume of Selected Speeches was published in 1879 . See Life, by T . E . See also:Burton (1906) . (W . A .

End of Article: JOHN SHERMAN (x823-1900)
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