The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-09-17
ccrcra, Butler upan the Fiunnccs.

IL
General Is. +. Butler addresses the fol-
loving letter to the editor of the Ereninq
Post:
4 correspondent in the Eveninq Post Of
Scptcmhcr 5, signing himself "a Hard
Moucy Radical Republican," has coupled
the views upon finance which l cursorily
ovnrcsscd with those set forth in the
sntcc,ics o. Mr.. Pcndlcton, of Ohio.
ST the time Of my reported converse
,;oa had no. seen Mr.. Pcndleton's views,
AID only a resume Of them since. The
difference between Mr.. Pendleton and my
sn,r is radical, and cannot well be over
looked without intellectual blindness.
rr pcn6lc;on desires the Government, BY
n, exercise of its supreme power, to issue
an amount Of its promises TO pay on de-
,,.DA without interest Chat is, icgalten-
arr>) and force It's creditors, by interest
I,4r:ur bonds, 20 take such issue in pay
w.rt. OF course such issue would at once
5,rr.ciatc the currency, and would be
yiy,ual reputation, which / have not
tsynrcd. and do not favor, either directly
or Indirectly.
W. proposition is that the Government
>n.. rti-r TO the country new loan, Sc
r4,rG by interest in currency bonds pay
aa!r n, Long date, to which all future is
..,.., ot Government loans shall be assim-
lated. 50 As 10 make one class of Govern
meat securities only, instead Of the nine
teen different classes We have now, and
with the proceeds OF such loan pay off our
highest class OF interest-gold- bearing
bond, as they become due; not to increase
and thereby drpreciate the currency, but
-arrndrr the currency and credit OF the
Government more stable, and, therefore,
au the more valuable, by reducing the debt
IVA reduction OF interest and increase Of
taxable property, causing our loans to be
taken ny in our own country, SO that we
NAV not be obliged to pay tribute TO
foreign capital as we now do, at a rate Of
interest exceeding three times what they
charge their own Governments.
TO the assertion OF your correspondent
thu, ga dollar i dollar, containing 243I
grains Of gold,' | answer that the value OF
that dollar, both in silver and gold, has
been three times changed by the Govern
rent, and that dollar in silver or dol
lar in gold now is not worth SO much as the
early coinage, to say nothing Of legal-ten-
der dollars.
To The assertion that by this course the
public creditor by tirc-t twenty bonds is in
iurcd, reply that propose to pay him
wien his obligation falls due in precisely
the same currency or money which the
Government has provided for every other
creditor, public Or private, to be paid IN,
and that which it is declared upon the back
Of every lcgal-tcndcr note he may be paid
in, the best and most valuable money which
the credit of the country can sustain,
bearing relation to-day to gold as l43 to
l00-whilc the money that these five
twenty creditors lent the Government
lbcng the best which the then credit Of
the Government could altOrd) stood in re-
lation 10 gold as 200 and 2S5 TO 100. 1.-THE
Government pays Them in currency from
30 10 100 per cent. better than they lent
the Government, Of What have they to
complain, save that the Government will
not tax the people to pay them Il usurious
Share or, in other words, will not tax the
people To enable the capitalist to make
speculation cut Of the war necessities of
the Government
History tells Of no Government which
has yet paid its creditors all they loaned
~ il. and thus made them whole; and !
doubt whether good faith, good conscience,
or equity, require this Government 10 pay
its creditors three times what It received
from them, with interest at six per cent.
on the treble amount. OF course, if any
contract to do that be shown, the Jew
Shall have his bond, but not one drop OF
Christian blood"
Il is not true that I have SCALED for
the issue Of any more legal-teHder notes."
save 10 take the place OF bank notes with
drawn from circulation, and thus save the
people the interest thereon. do not IN
tend TO argue these Qucstious-only to
correct misrepresentation. beg leave, IN
closing, to repeat that do not propose to
drpcecia,c, but to enhance the value of
the currency; not to do injustice to the
public creditor, but TO pay him according
to the letter and spirit OF his obligation,
and to secure him from the danger OF re-
rudiation, which will surely follow au at
tempt 1T enforcement upon the people by
their own votes Of an M ust and uncon-
scionable transaction under the guiSc of
contract. BENJAMIN F. BUTLER.
Washington, September II, 1867.