The New York herald., 1869-01-19

BondhsIdcrs.
We SOC In the speech Of General Butler on
the currency and national finances the OK
preston Of opinions which arc widespread
among tho mass Of the people. The same
conflict between the bullionists and the bond
holding capitalists on one hand, and the indus
trious classes on the other, which existed in
England few years after the wars with Ma
poleon ended is being developed here. The
former clamored for specie payments In order
that their bonds and capital might be increased
in value and that money might be made dear
through contraction, % our bondholders ana
on-to-specie-payment theorists do now. BY .
scarcity Of money the great capitalists are en-
abled to get higher rate Of interest and to
increase their profits enormously at the ex-
pense Of the industrious classes. Hence we
see the selfish motive which prompts the
clamor for restricted currency and forced
specie payments. In England, at the period
referred to, the people wanted an ample
currency and cheap money. The sub
ject was widely discussed and efforts
were made to secure these. The subject
occupied the attention of Parliament, and we
believe it was Mr.. Atwood who proposed .
measure in that body, similar to that Of Gem
eral Butler, for an inconvertible currency and
for utilizing the public debt. But the measure
was defeated; the bondholders and large capi-
talists were more powerful than Its advocates.
1t remains to be seen if the people. who want
cheap and an ample currency, will prove
stronger than the resumption bullionists under
our popular form of government.
There is an extended organization, though
not noisy one, throughout the country, par
ticularly in the Western States, in favor Of
General Buffers monetary system, or similar
one. We refer to the labor unions. There
are, probably, more than half million en-
rolled members in this organization, besides the
vast numbers affliating with it. Mr.. Cary, of
Cincinnati, it win be remembered, was elected
to Congress by that. 1t has already exercised
considerable influence in the elections else
where, and it is spreading to such an extent
that our public men are constrained to respect
its power. General Butler seems to have
made himself the representative man of
this organization and its views, and,
probably, he looks forward to using it as an
important auxiliary in the coming reorganiza-
ton of parties. At all events the conflict has
commenced here as it did in England after
the wars with Napoleon terminated, between
the resumptionists and bondholding capitalists
and the masses Of the people who want cheap
money. II General Butler, Mr.. Cary, the
labor unions and others hold extreme views
with regard to an abundant and inconvertible
currency the bondholders and the rest who
clamor for resumption of specie payments may
thank themselves for it. They are the Shy
locks who have overreached themselves by un-
reasonable demands. The attempt to force re-
sumption by Mr.. McCulloch through contraction
of the currency, in behalf of the bondholders
and capitalists, alarmed the people and Gre
ated powerful reaction both in and out Of
Congress-. If the resumption theorists and the
government would let the currency alone, and
thereby pacify the public mind, agitation
would cease, business be undisturbed, and the
country would grow up to specie payments, il
that he desirable, in healthy and almost i'm
perceptible manner.
THE CONVENIENT AND THE TELEeRApH. -
We copy an article from the Boston Tr0oel-
Ter, journal well informed and influential,
on the subject of the advantages to accrue
to the community generally by the government
assuming control Of line Of postal telegraph
throughout the country. The views expressed
in this article should be endorsed by every
commercial man and private citizen in the land.
Its reasonings are clear and jndicious, and at
the hearing on the subject which occurs to-day
TUESDAY before the Committee on Post Oflices
and Post Roads OF the United States Senate II
should, with other substantial views presented
in the same relation, command attention at
Washington.
No TAX ON GRERNBAcRs.-The Supreme
Court has decided that the States cannot tax
greenbacks Now let Uncle Sam 20 farther
and pass law exempting these same green
backs from national taxation. In other words,
let Congress repeal the law imposing tax on
incomes. The measure is not only q very
odious one to the people in general, but II is
almost failure as source Of revenue to the
government, the receipts last year from this
branch Of taxation amounting to the picayune
sum Of thirty-two millions OF dollars. 1.-The
game isn't worth the candle"
BAD FOR THE OTHER TnEATREs--Fisks
move against the deadheads. Crowded out
OF all the theatres under Fisk's control, these
terrible fellows will so throng all other estab-