The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1868-01-11
Train ON the Currency.


In our report of the Democratic
pow-wow, at indianapolis, we gave
the financial views at length of Nh
HENDRICKS, the Democratic Bank
stock candidate for Governor, which
was read with avidity by the Democ-
racy, and with some interest by all
business readers. IF we can cumber
our columns with his specious views,
there is no reason why we should deny
a hearing to the Wild Irishman, y
GEORGE FRANCES TRAIN, who claims
to al fit on finances. He attended
the Stock Board. in New York, on
Tuesday, and being called out, in
duIged in rambling speech on va
riety of subjects. Here are his views
of the currency and business:
What next, gentlemen? Mr.. Ken
nedy-Tell us about the currency ]
What we want is stability; something
certain and that is greenbacks APP
plause. 1t requires ten per cent. at
least margin to move stocks; Fl teen
at least to move merchandise, cotton,
rice, tobacco, and twenty per cent to
move real estate. That's So We
haveTan aggregate OF $25, 900, 900, 900
of property in this countrg, and not
$500, 900, 900 of currency to move it
hence stagnation, ruin. We want ten
per cent. margin ten per cent. on $25,
00,000,000 Is So, 100000. 000 of green
backs. Loud applause and cheer
ing. Once we had $1,500.000 900
currency, In notes, three, six,
nine and twelve months, mercantile
and banking paper-now that is wiped
out sensation What else have
we? National Banks? Yes. they ad-
vance only arguments The COVER a.
ments eat up the greenbacks, aud the
greenbacks eat up the National Bank
notes, SO we really have no currency
at all. Sensation and applause I
stated in the World, and paralysis
everywhere. That's SOL All rich
men have to do Is to sell out, shut up
shop. buy governments. aud collect II
per cent. interest out Of the losses of
the peopie-out OF the poor. Shane I
My old friend, VIM. p. Furnas, over
the way, IS the only man in Wall
street who grasps the question. See
his letter in to-day's ReUolutioa.
Mr.. Hale, (Hale & Burr)-Teil US
how the market is going to turn.
Train Everything is going up.
Greenbacks will prevail McCul-
Ioca must expand or lose his place.
{ Applause All stocks will rise.
When | spoke last Spring, [ told you
in the gold room, there would be ru-
mors of war. There was. Gold
would go up. It did Stocks must
go down. They fell. Applause. ]
DO you remember my predictions?
Yes. Well, | predict again. Every
thing viii go up ten or twenty per
cent. We are on the eve Of great
prosperity. No panic; no crash;
complete change at Washington. [
am going out Wednesday on the SEQ
tia, to listen to our citizens in Jail.
[ Loud applause And when [ come
back, in a few weeks, [ shall find
that stocks have gone up some twenty
per cent. in my absence. Loud
cheers Specie payments mean re-
pudiation. GreenDacks save the ma
tIonal debt
A voics-How do you make that
out
Mr.. Train-Simply because specie
payments means contraction; coatrac-
tion means panic; pan c means bank
ruptcy; bankruptcy means no money
to pay taxes; and no taxes means re
pudiation. Applause aud that's so ]
While reenbacks means expansion;
expansion means confidence; conf
dence means speculation and the pay