The Sun.
London, England, 1867-10-02 00:00:00

GEN. BUILER ON AMERICAN FINANCE.

American statesmen have introduced a custom
unknown elsewhere, though convenient in many
respects. " Stumping" is in comparison a clumsy
expedient; as well as serenades, balcony ora-
tions,. and lectures, or the other means by which
prominent citizens make known their opinions,
and keep themselves before the world. Com-
fortably seated in his literary arm-chair, with
a newspaper reporter at his writing-table, the
aspiring American politician does his work
more effectually than the leader of an English
party hurrying over the provinces, bellowing from
hustings, or making the glasses jingle as he brings
down his fist on the table of a banqueting hall. It
must be allowed that Americans are neat in
their expedients, and are sure to devise the
right scheme. The aspiring statesman, comfort-
ably smoking his cigar, with his legs crossed,
head back and eyes on the ceiling, manufactures
opinions, while the reporter of the Herald, the
Tribune, the Times, or any other of the great oracles
of New York, notes in shorthand the weighty sen-
tences. A drink, a hearty shake of the hand, and
an admonition to put it all tersely into print, not
forgetting to give prominence to this or that point,
and the interview ends. But let us glance at what
is accomplished. In prominent type the next day
the honourable Senator's opinions are literally an-
nounced to the world. They are read by millions
in America—they are read by hundreds of thou-
sands in Europe—newspapers take them as texts
for articles—the telegraph flashes summaries all
over the country, and it is known by those
who hold similar opinions the planks of the plat-
form on which the politician intends to stand.
Yet the statesman is, in truth, committed to nothing.
Suppose his sentiments are denounced by the nation,
as were those uttered by BENJAMIN WADE in his
Kansas speech, all he has to do is to deny them.
He can assert that no such conversation occurred,
or that the reporter misunderstood him, or any one
of the numberless evasions denied to the unfortunate
who, in the face of half a dozen reporters and a
hundred hearers, has given publicity to his opinions.
Thus he occupies the commanding position of hav-
ing said nothing that really commits him, yet of
benefiting to the fullest extent by the publicity he
sought. In this way President JOHNSON has more
than once availed himself of the columns of the
London Times ; and in this way, but the other
day, Senators SUMNER, and WILSON, and General
BUTLER gave expression to their opinions in the
Boston Advertiser. There was nothing important in
the utterances of the Congressmen belonging to
the Senate, but those of the Representative,
coming as they did from a leader of the Republican
party, are of grave interest. In General BUTLER'S
opinion finance is the question of the future. He
holds that the Secretary of the Treasury should re-
commend that a loan be made in lawful currency,
taxable as other property, to redeem with the
proceeds the Five-twenties. The arguments that a
keen lawyer like BUTLER would use to maintain
such a proposition might readily suggest themselves
to most minds. In the first instance, he held to
the strict wording of the bond ; legally, the United
States are not compelled to redeem in gold. The
law authorising the issue enacts that the interest
upon the Bonds shall be paid in gold, and the
principal shall be paid in " lawful money." Mr.
BUTLER argues that this difference in terms was not
resumption
accidental,
exchange for the currency at the time prevailing.
What Mr. CHASE'S intentions were in making this
difference when he drew up the bill, have never been
explained. But the provisions made for redeeming
the debt are conclusive proof that Congress in pass-
ing it understood and intended that the 5-20 Bonds
should be redeemed in gold. This has been the in-
variable practice of the United States ; and, is
reply to numberless questions, the answer given by
Mr. CHASE has always had reference to this prac-
tice, from which he saw no reason why the United
States should depart. It was provided that the
Customs duties should be paid in gold expressly to
enable the Government to pay the interest of its
Bondsiu specie, and it enacted that, after providing
1 per cent. as a sinking fund for the redemption of
the debt, the gold interest of which was to accumu-
late for the same purpose, that the surplus should be
paid into the Treasury. The proceedings of Con-
gress afford abundant evidence of the spirit which
actuated the Legislature. For instance, last year
Mr. RANDALL of Pennsylvannia submitted the fol-
lowing resolution, which was unanimously carried,
if we except the voice of Mr. TRIMBLE :--
"Resolved (as the sense of this House) that the Public
Debt created during the late Rebellion was contracted on
the faith and honour of the nation, that it is sacred and
inviolate, and must and ought to be paid, principal and
interest; and that any attempt to repudiate or in any
manner to impair or to scale the said Debt should be uni-
versally discountenanced by
the people and promptly
rejected by Congress if proposed."
That BUTLER should act SHYLOCK'S part in ad-
hering to the bond will not surprise the English who
associate his name, however unjustly, with the cog-
nomen given him in New Orleans of " the beast."
But the General is not without other arguments in
favour of this iniquitous proposition, as those will
see who read the article in the Nation we have
transferred to our columns. The money, he main-
tains, was not advanced by capitalists from love or
patriotic motives, but with the mercenary object of
i
availing themselves of the State's necessities to in-
crease their piles. The bonds were taken up at a fearful
discount, and already the holders have made from
70 to 80 per cent. on their investment. They are
drifting into the coffers of bloated English capi-
talists, who, like leeches, are sucking the very
life-blood of the nation while they riot in luxury in
their European mansions. All other debts were
paid in greenbacks—why should these bonds be an
exception? All other property is taxed—. by ex-

empt these bonds? Mr. BUTLER'S object is simply
to take the wind out of the sails of his Democratic
rivals, who are bidding for popular support. About
character he cares little. He has always stood in
every breach where paper pellets were flying, and
made himself the most conspicuous object of attack.
He was more careful where the pellets were leaden,
for thick as his skin is he knew he could not turn
them aside. Morally he is absolutely without fear.
IVe hold with Senator WILSON, who believes
that any question of repudiation will ruin the
party making it. There are, however, safeguards
independent of the national honour so dear to
many Americans. The vast proportion of the
debt is held in the United States, and mostly
by poor men, though many Congressmen are
heavily involved. The savings banks are involved for
millions, and in these banks are invested the hoardings
of the working c.asses. It will soon be apparent to
tens of thousands of voters that in tampering with
this security they are annihilating their own savings.
They may not directly hold the bonds, but they
have entrusted their money to those who it is well
known rely almost exclusively on them; and such
interests ramify over the country, bringing home to
almost each individual in his own, his relative, or
his friend's ruin the realities involved. It is
vain to talk to such men about " bloated British
capitalists," and moreover a little careful inquiry
would show such statements to be untrue.
The dread of such action as Mr. PENDLETON and
General BUTLER are now taking has effectually de-
terred British capitalists from investing largely in
United States Securities. During the war United
State Bonds were not looked at in England, while
they were readily bought in Germany. It was but
slowly they grew in favour on the English side the
Channel, as the conviction forced itself on the
British that the Germans, more really alive to their
interest, had swallowed the oyster, leaving the shell,
in the Confederate Debt, to the English investor.
If 5-20's had inspired confidence on the London
Stock Exchange the quotations at this moment
would not range between 70 and 74, but rapidly
exceed par. It is deplorable to see leading poli-
ticians of the United States thus damage
the public credit while gaining no object
that can even further their own ends, for the injury
sustained by the nation is not limited to their
Government, Money is accumulating in European
centres, and the capitalists know not how to em-
ploy it. The United States is the finest field open,
where it could be used to the greatest advantage
both to the owner and to the American citizen. Yet
if such an agitation gains head, the United States
will be barred. While such questions are discussed
it is almost ironical in the New York Herald to
write as follows :

"We repeat our advice to European capitalists
to send their money to this country. Here they
can get a high rate of interest, three or four times
over what they get in Europe and with the best
security. Let them send their surplus money to
us. We can absorb it all, and much more."—Anglo-
American 2 rotes.

THOMAS CLARKSON AND WILLIAM
LLOYD GARRISON.

The following letter has been addressed to the
editor of the Anglo-American Times :

Sir,—The names of Clarkson and Garrison will
be ever-memorable in the history of slave emanci-
pation. They were prominent among the leaders
of the anti-slavery forces ; the former in England,
the latter in the United States. By reading the
works of an American, Anthony Benezet, a friend,
on the slave trade, Clarkson's feelings were so
wrought upon that he devoted his life to the cause
of the slave ; and by the sympathy, aid, and co-ope-
ration of English abolitionists, Garrison was cheered
and strengthened in his battle for emancipation.
These reciprocal influences have characterised the
anti-slavery movement. As " Uncle Tom's Cabin"
revived the anti-slavery feeling throughout England,
so did emancipation in the Westlndies. The meet-
ing of the world's anti-slavery convention, and the
Stafford-house address to America, cheered the hearts
and strengthened the zeal of American abolitionists.
Thus was English influence exerted to abolitionise
the public sentiment of America, to change the
character of its highest officials, and to liberate the
slave. Twenty years ago all the American ambas-
sadors, with one exception, were slaveholders ; now
they all abhor slavery, and promote justice without
regard to complexion. Thanks to England for its
share in so good a work.
To liberate the slave was the life purpose of both
Clarkson and Garrison. Both were able writers,
and pleaded for liberty with pen as well as voice.
Both with unflinching will breasted the waves of
opposition, and persevered in energetic and self-
sacrificing labours. Both were trained up religiously
—Clarkson in the Church of England and for the
ministry, Garrison among the Baptists. Clarkson
was a man of property. Garrison won his bread by
labour. Clarkson, when a student at Cambridge
University, preparing a prize essay on the unlaw-
fulness of slavery, was led to consecrate his life to
the work of emancipation. Garrison, when con-
ducting a newspaper, was aroused to consider the
wrongs of the slave by reading Lundy's newspaper,
The Genius of Univertal Emancipation, and having
been visited by Lundy he was led, as the result of
the interview, to consecrate his life also to the
work of emancipation. The labours of Clarkson
commenced English like : a committee was quickly
formed, whose names were not much known, but
who laboured energetically, and as the result the
slave trade and slavery were swept away. Garrison
commenced his labours American like : a public
meeting was convened in Philadelphia of repre-
sentatives of the anti-slavery movement in the dif-
ferent States, a constitution was adopted, the
American Anti-Slavery Society was organised, a
declaration of sentiments was sent forth, resolu-
tions were moved, speeches made, and officers
chosen ; a large staff of lecturing agents was
employed, and numerous anti-slavery papers and
books were sent forth throughout the land.
Clarkson found the English public mind unin-
formed respecting slavery, but willing to receive light ;
Garrison found the American public mind unin-
formed respecting slavery, but so swayed by the
slave party that it bitterly and madly refused to be
enlightened. Clarkson's humane efforts were re-
sisted by the West India slaveholding interest,
which then controlled the British Cabinet, both
Houses of Parliament, and the mercantile classes ;
but the religion of the people had not been cor-
rupted by slavery ; and religious leaders, such as
Wesley, Watson, and Knibb, did excellent service in
marshalling the devout of every name against slavery.
Garrison's humane efforts were resisted by the
Southern slaveholding interest, which not only con-
trolled the Federal President, the Cabinet, Con-
gress, and the Governors and Legislatures of all the
States, and the mercantile classes, but the American
churches also ! They were the bulwarks of slavery.
Their members held 600,000 slaves, and their
presses, pulpits, and benevolent organisations were
auxilistry to the slave party. In each religious body,
however, there was an anti-slavery minority work-
ing for emancipation, some of whom, ministers and
laymen, became martyrs.
Clarkson walked in the light, and was clothed
with the strength of the British Constitution, since
Lord Mansfield had declared that a slave could not
breathe in England. Garrison found that owing
to the construction of the constitution by the judges
throughout the land, it was the most formidable
weapon used to resist his efforts. Hence, he styled
it " a covenant with death and an agreement with
hell." When the Constitution was framed conces-
sions were made to the slave party ; but as slavery
was looked upon as a temporary institution,
which would soon pass away, the word slave
was not allowed to be in the Constitution.
Owing to this there were two parties among the
Abolitionists, one led by Garrison, declaring the
Constitution to be pro-slavery; the other led by
Gerrit Smith, contending that it was an anti-slavery
document.

In his early labours Clarkson placed more depen-
dence on the labours of Wilberforce and other noble-
minded men in Parliament than on popular agita-
tion ; Garrison from the first regarded popular
agitation as the great weapon of warfare. Owing
to his religious and political views Clarkson could
unite with all parties who were working for eman-

cipation ; but the views of Garrison, political and
religious, restrained him to a certain line of anti-
slavery effort. For instance he held that as the
Constitution was pro-slavery, he could not vote under

it. The work, therefore, of forming a political
Anti-slavery party devolved on those who could
vote under it—among whom were Birney, who had
set his slaves free ; Gerrit Smith, who purchased
and emancipated some slaves belonging to his wife's
relations ; Chase, now Chief Justice ; Lovejoy,
brother to the martyr ; Senator Morris, and Cod-
ding, one of the most eloquent of men. Garrison,
from his views of the constitution of the church,
was restrained from battling in the religious assem-
blies with ecclesiastical slaveholders. This work
was done by those whose views of church organisa-
tion allowed them to enter the conferences, assein-
blies, associations, and benevolent organisations, and
in them condemn a slaveholding religion as spurious
Christianity. Worthies in these conflicts were
Lewis Tappan, Abram Stewart, Cyrus P. Grosvenor,
Albert L. Post, Abel Brown, Luther Lee, Orange
Scott, Mortlock, Rankin, Cheever, Fee, and a host
of others. Clarkson in his labours was exposed
to danger, and there were instances when his
life was imperilled ; but Garrison was for
years in peril of his life. The Legislature
of Georgia offered 5,000 dollars for his head ; he
was imprisoned 49 days in a Baltimore prison ; in
Boston a violent mob attacked him, dragged him
through the streets with a rope, and he was thrust into
prison. One morning he found that a short gallows
had been erected before his door in Boston, from
the beam of which were suspended two halters, one
for himself, the other for George Thompson, the
eloquent advocate of emancipation, who was then
staying with him. Over the gallows were the words
" By order of Judge Lynch."
Clarkson began his movement as a peace measure,
and saw a moral agitation result in a bloodless vic-
tory ; Garrison began his movement as a peace
measure, but saw a moral agitation, owing to the
madness of the slaveholders, end in one of the
greatest wars ever known. His own son entered
Charleston leading the coloured troops. Victory
was come, but not in the way anticipated.
Clarkson never visited America, but he was in con-
stant correspondence with the Americans. I called
on Mr. Dodge, a Virginian, the Governor of
Wisconsin, and he told me he had received a com-
munication from Mr. Clarkson urging to see to it
that Wisconsin should not become a slave state. In
Kentucky I called on Mr. Clay, the present Ame-
rican Ambassador to Russia. He had emancipated
his slaves, and told me that he had been honoured
with two letters from Clarkson.

Garrison, to promote emancipation, visited Eng-
land three times, and now at his fourth visit he
finds that the truth of his own poetry, written on
the walls of the prison in Baltimore, is realised :
" Though beaten, imprison'd, put to open shame,
Time shall embalm and magnify thy name."

He is rejoicing over his labours, and greeted with
honour for his life-long devotion to the cause of the
outraged slaves. •

The Pan-Anglican Conference.

Last Saturday morning the Bishop of New Zea-
land preached in the church of St. Lawrence,
Gresham-street, taking for his text the 32d verse of
the 19th chapter of the Acts of the Apostles—
" Some therefore cried one thing and some another,
for the assembly was confused, and the more part
knew not wherefore they had come together." The
drift of Dr. SELWYN'S sermon was that the minds
of men being unsettled, it was necessary by some
extraordinary measures to establish if possible
peace and concord where now a war of opinion and
discord prevailed. Men ran together in a tumult,
some crying one thing, some another—themselves
confused, and confusing others. This had its origin
in the shallow fountain of human conceit, ignorance,
and vanity. An outcry was raised at such trivial
innovations as robes and forms, while men upheld
errors that struck at the very root of the faith on
the plea of the free use of reason and of speech. To
illustrate the evil influence of this discord, the
Bishop quoted the answer of a New Zealand chief
to his question—Why was he not a Christian? "I
have come," said the old and influential Maori, "to
the cross, and I now see three roads branching off
thus (stretching out three fingers as he spoke), the
one is the Church of England, the other is the
Church of Rome, the third the Vtresleyan, and here
I sit on the confines of Christianity until I know
which road it is right to take." And there he sat,
continued the Bishop, " till he and his family
were overwhelmed by an avalanche," alluding,
we presume, to the New Zealand war. "It
was to dissipate these discords and that con-
fusion, to promote peace, and to affirm the faith
with no uncertain voice that the bishops of the
Church were about to meet together from all parts
of the world." For this reason 75 prelates opened
a Conference on Tuesday last at Lambeth Palace.
It is interesting to inquire what is likely to be the
result of this great gathering. Dr. SELWYN applied
his text to the outside public, but is it not a two-
edged sword, cutting back as well as forward ? In
no spirit of detraction we remark that the verse
may be singularly applicable to the gathering at
Lambeth Palace. The objects of the Synod, as
enunciated by the Archbishop, are not the objects
as announced from the pulpit by Dr. SELWYN.
Even in making his statement he was giving an
example of the truth of his text, that " some cried
one thing and some another." If the most part know
not wherefore they are come together, the assembly
will in all probability be confused. Men holding
strong opinions on matters of doctrine are little in-
clined to concession, yet it is by concession only
that such an assembly can be made to agree. We
have the greatest respect for the Bishop of NEW
ZEALAND. We believe him to be one of the most
noble and pure-minded missionaries ever sent forth
by the Church of England. He has done his work
at the Antipodes in a spirit that will for ever asso-
ciate his name with New Zealand. With his wallet
on his back, his Bible in his pocket, and his staff
in his hand, he had traversed the length and breadth
of these islands ere cannibalism had ceased to be a
custom of the natives. In a small craft for months
together he navigated those stormy and almost
unknown seas; he has swam torrents, whose danger
is shown by every mail from New Zealand, record-
ing more than one settler drowned ; he has crossed
vast chains of mountains, through tracts of primeval
forest, in which no living thing stirred, with scarcely
a sign to mark that a human being had ever crossed
before him, and where those who are lost, perish from
starvation. Knowing all this, we would ask the
Bishop if there were not those in that secret con-
clave who were ready to cry and to adhere to their
declaration that " Great is Diana of the Ephesians ?"
Is the Bishop certain that he was not among that
number? A man may believe strongly, even unto
death, and yet be in error. The Bishop may
so believe, but as the Bishop is not infallible he
also may be wrong; and if the conference had been
held publicly there can be little doubt that it would
have shown a considerable divergence of opinion
among the assembled prelates. But Dr. SELWYN
says, that there can be no faith where some say one
thing and some another. Let each bishop freely
state his opinion, and it is scarcely possible that
some will not say one thing and some another ; yet,
according to so good an authority, there can be no
faith where this occurs, and if it has occurred,
as undoubtedly it has, at Lambeth, there
cannot be faith in that very conference which
is to settle the faith of others. Dr. SELWYN
repudiates the free exercise of reason in such mat-
• ters, but reason cannot be banished in this all-im-

portant subject. Doubtless our shallowness and
vanity lead us into grave errors, and those who rely

on what they consider superior intellect for arriving
at the truth, or in their egregious vanity set up
their reason as a guide, may find that the truth
"has been hidden from the wise and prudent, and
revealed unto babes." Theology is not a progres-
sive nor an exact science. Nothing more is known
now than 1800 years ago, or can be known in the
future. And during all this period the world is
revolving in cycles of errors. Church dignitaries
may meet, great conferences may mark epochs, and
perhaps tend to remove the prevailing error of the
period, but nothing can be more certain than that
new errors will spring up or old ones be revived.
The more intellect and reason aro brought into play,

II•••••
the more likely is this to be the case, for it is the
characteristic of ignorance to be guided, and know-
ledge to run alone. Therefore in ignorance some
are less likely to cry one thing and some another ;
whereas reason will surely lead its votaries into this.
Yet whether for good or for evil, a great portion of
Christendom has brought reason into play in the
discussion of religious topics, and it would be wise
in the bishops not to ignore this fact, but first
agreeing amongst themselves, to lay down the re-
sults they arrive at, backed not only by so great a
weight of authority, but also with as great a weight
of reason and argument, when they will have ac-
complished all that man can, which is, that most
men will cry one thing, and be regardless of those
who cry another. —Anglo- A inerica I hues.