The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1867-09-20
THE FINANCES.

Cen. Butter on tho National Finances.
In letter to the New York Ereaino Post
General Butler alludes as follows to bis
views upon finance, "cursorily expressed
aud recently published, as compared with
those Get forth in the speeches OF Mr.. Pen.
dleton, of Ohio
" - WAsHis0roN, Sept II,
At he anne of my reported conversation
had no. seen Mr.. Pendleton's views. and
only = ,es,itae OF them since. The difference
between Mr.. Pendieion and my self is radical
and c. upot well be overlooked without intel.
lectuAl bLndiiess Mr.. Peudleton desires the
tiUserutnent, by an exercise Of it's supreme
power, 70 issue an amount Of its promises to
pay on demand without interest. THAT is la-
eai tenders, and force its creditors BY inter.
eat bearing bonds to take such issue in paw
ment VI course such issue would at once
depreciate the currency, and would be vir,u,
al reputation, which | have not favored and
do not favor, either directly Or Indirectly.
My proposition is that the Government
shaii offer to the country a new loan, secured
BY interest in currency bonds PAYABLE at long
date, to which all future issues of Govern
ment loans shall be assimilated, 90 as 10 make
one class OF Government securities only, in
| stead OF the hineteen different classes wa
loan pay off our highest class of interest gold
bearing bonds as they become due, not to
increase. and thereby depreciate the curren.
cy, bat render the currency and credit of the
Government more stable, and, therefore, all
the most valuable by reducing the debt bv a
reduction OF interest and increase of taxable
PROPERTY, causing our loans to be taken up in
our own country, SO that we NAV not be
Obliged to pay tribute to foreign capital n,
we now do. NJ A rats of interest cxce.ding
three times what they charge their own Gov
eru ments.
10 the assertion of your Correspondent
that :. q dollar is dollar containp twenty.
four and ',hree>quarter grains OF gold, II
answer that the value Of that dollar, both in
silver and gotd, has BEEN three times changed
ny the Government, and that q dollar in sill
yer or dollar IN gold now Is not worth SO
| the Legal tender dolIsrs.
10 tie assertion that by this course the
I public creditor hy :. 6He.txenty bonds i in.
jured, reply that propose 10 nav him. when
us obligation falls due, in recisely the sama
currency or money which the Governnesr,
has provided for every other creditor nnhl;c
! or private, to be paid in, and that which i ia
declared, upon the back of every legal ten.
der nor ne may be paid ia, the best and
most Valuable money which the credit of tba
| country can aaatAins bearing relation q. dsv
| TO gold ~ 148 to 100-while the monev ,h.,
| theas Five. Twenty creditors lent the Goy.rn-
ment, being The benz vhichsthe thep cred;,
Of the Governments could aford.) stood N
relation 70 gold ~ $50 and 2s5 to 100. If
the Government psys then IL acurrepcv from
% to 100 per cent batter than they lent the
| dovernment, Of what have they to complain.
save that the Government will not tax The
fpeople to pay them asurious share: or. II
other words, will not tax the people to ena.
bic the capitalist to make speculation ont Of
| the.w w. necessities OF the Government.
Histofy tsiis of no Government which b..
| Jet pad h. creditors all they loaned 10 i.
and AAsssmade them vhuie, and dooht
whether good faith, good conscience q eoui.
| y require this Government to pay ias credis
tors three times What it resolves from them.
With interest It six per G Mt on The treble
amoent Of course, II any coaosacs 10 do
EtAse b shown, .'tbe Jew shall have his bond,
Bat net ono drop " Christisu Blood
= y not true that have acalied iar IL.
49, Of a.y nero leonl aeeaess noaes.n save
e - sss Pases 6 4 - :! pofss vitlarsss