I've always let our dogs sort it out themselves, under my supervision, and it's always worked itself out. We've introduced three puppies over the last 15 years, and while the early months have sometimes been difficult, we've never had a long-term problem. We've successively had two females, a male and a female, and now two males.
I would say the most important thing is to support the resident (older) dog. The last time we introduced a puppy, our resident dog - a 10 lb. toy poodle with a 75 lb. attitude - was not a happy camper (that is a gross understatement). It was two or three months before they were able to share a space (i.e. be in the same room) without him snarling and growling at the puppy. We made sure they were separated at meal times, and reinforced the poodle's position as the resident dog. The puppy soon learned not to jump on the poodle - the poodle made sure of that! After a month or two, they could play together outside, and occasionally inside. By the time the pup was 6 months old, they were friends. However, it was a very long time before the poodle would allow the puppy into "his" (my daughter's) room - any attempt by the puppy to get in the room would result in an attack. We simply kept the puppy out of that particular room, so the poodle would have his own space.
Fast-forward a year: they are inseparable. They share a cushion under my desk while I'm working. The puppy (now an 18-month-old, 50 lb. golden retriever) is allowed in my daughter's room, and on her bed, at the same time as the poodle. They can even share food from the same bowl. We didn't do much to achieve this, except let them sort things out themselves, and reinforce the poodle's position. I think we only intervened once, in the very early days, for a totally unprovoked attack by the poodle, and even then, it was only a verbal correction ("hey, cut it out!").
It's really hard to give advice on your particular situation without seeing the dogs together. From your description, it sounds like your sheltie is trying to educate your pup not to jump on him, and if that's the case, he's entitled to do that. Your golden is going to be much bigger than the sheltie, so it's important for her to learn respect, otherwise the sheltie is going to get hurt one of these days. If he's not biting the pup, I would tend to let them sort it out between them. He'll teach her not to jump on him: it's his job to do that, not yours.
If you're really worried, however, the best thing would be to call in a trainer who can watch them when they're together and advise you accordingly.
Ruby 13-01-2007 to 18-03-2015.
My dog of a lifetime. I'll miss you forever.