The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-09-14
The National Finances.
LETTER FROM GENERAL BUTLER,

TO the Editor OF the NJ y. Evening POST
A correspondent in the EUGptng Post Of September
can" has coupl, the views upon hnanee which
of Mr. Pendieton, OF Ohio.
At the time of my reported con versation had not
since. The difference between Mr.; Penueton and
without nte lectual blindness. Mr. Pendleton desires
the Government, by exercise Of its supreme power
to issue amount of its promises to pay ON demand
without interest that is legal tenders) and force lts
In payment. or course such issue would at once de-
precate the currency, ahd would De virtual Fepudla-
either directly or indirectly. .,..,, -.
to the country new loan, secured by interest ~
currency bonds payable at long date, 70 which all
lated, so as 10 make one class of Goyernment secur,
eS only stsa9 Gt the me sgch loan pey
our highest class of interest collaborating bonds as
ciaie the currency but TO render the currency aud
credit of the Government more stable and therefore
duction of interest and increase of taxable property
SO hat we may not nc p be % Obliged to T pay tribute
foreign capital, as we now 40 at rate OF interest
Governments i'0 '---'' "D"' my
To the assertion of your correspondent that "a dol
lar is a dollar containing twenty -four and three,
quarters grains Of gold" answer that the value of
that dollar both in silver and gold, has been three
times changed by the Government, and that dollar
as the early coinage to say nothing OF legatender
10 the assertion that by this course the public credl
tor by hyetwenty bonds i Injured reply ply that that IL
precisely the same currency or money which the
Government has provided for every otner creditor,
public or private to be paid In, and that which 1t is
declared the back of every legal ender note he
may be paid in, the best and most valuable money
which the credit of the country sust ain, bearing
relation to-day golu l43 to l00 while the money
that these lvetwenty creditors lent the Government
(being the best which the then credit OF the country
could aOrd) stood IN relation to gold as 200 and 2S5
to l00 If the Government pays them in a currency
from fifty TO one hundred per cent better than they
lent the Government, of what have they TO com
plain, save that the Government will not tax the
people to pay them usurious share, or, In other
words, VIII not tax the people to enable the capt
taliss to make speculation out of war necessities
of the Government?
History tells of no government which has yet
paid Its creditors all they loaned TO IT, and thus made
them whole; and doubt whether good faith, good
conscience equity require this Government To pay
It's creditors three times what 1T received from them
with interest six per cent. 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"
II is not true that have "ca ed for the issue of
any legal tender notes." to take the
place of bank notes Withdrawn from circulation and
thus save the people the interest thereon do not
intend to argue these questons-only to correct mis-
beg leave In closing to repeat that
value of currency-not 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 reputation, which will surely follow an
attempt at enforcement upon the people by their own
votes of an unjust and unconsclonable transaction
under the guise of CONTRACT. ~ - ,r
Washington, Ceptember 70, 1867.