The New York herald., 1869-10-11
GENERAL BENJAMIN r. BUTLER.


Tho Junlketing Tewr Of the Ways aud
Means--A Rod in Pickle for SchcncIS-Isrant
aHd Boutwell, Defouded-Dodge Of the DEM
ocrats.
General Benjamin r. Butler passed through the
city on Saturday on his way TO Boston. He made
brief stay at the Astor House, but long enough to
discover that large number OF people are az all
times anxious TO make renew his acquaintance.
The reporter OF the HERALD paid the General visit
in mis- paror at the Astor House, and found him in
the plentude OF health and spirts ready as ever to
talk on any subject under heaven, ana only
restrained by want OF time and pressure OF engage
ments. In answer TO the question as to whether
Congress would be likely to attempt any legislation
looking to the prevention OF gambling III gold, he
replied-
~ think not. Thad Stevens you remember. brought
In bill of that kind during the war, aud in a speech
of great force and persuasion carried the convIc-
tOns OF o majority OF the House with him on the
point OF regulating the price the sale Of gold by
law, and with very little debate the bill passed. The
fluctuations or gold were then new and startling.
There was much talk Of gold rings and cliques, Of
reckless gambling in Wall street and all that and
people, without due rejection. considered that a
legislative enactment would put stop to the whole
thing. There was the mistake. In place OF giving
regularity 10 the market IL threw 1t into violent
spasms and gold jumped without meaning and
method. Natural causes. produced by the war and
all ITS attendant influences on the markets Of the
country, acted the STANDARD OF values az
has always been the The mcddlng
Of Congress made matters worse, and by
the earnest protest OF the mercantile COM
munity the law was soon after repealed.
similar statute, after such an experience,
Will never be venturea again; for the more laws you
pass the greater will the chances be for such daring
spectators as the men who bulled the market here
some days ago. Congress cannot prevent this specu
lation, and the more you hedge in gold by legis-
lation the higher will become Its speculative value
That Wall street clique had really very little gold to
operate with, though 1t Ia stated contracts were
made for hundreds of millions. You saw how easily
four millions OF government gold brought down
the price returned the market 70 Its normal con-
dtiOn.u
'what remedy would you suggest, General. to pre-
vent the recurrence OF such pa mic as we had 7"
"The remedy lies In making greenoacks the stand
ard OF values and making gold article or mcrchan
disc, the as wheat, corn or cotton. Government
could appreciate the value OF greenbacks and bring
nearer to specie basis by recognizing Its paper
IN the payment Of Custom House duties in this man.
ner to begin with. II the amount Of gold realized from
$40 ooo 900, surplus Of 100000. 900 viii be left.
Now, II government would take say fifteen per cent
OF this amount in greenhacks in place OF gold, IT
would still have ample amount Of specie 10 meet
the interest payments, aud would at the same time
be taking sure and slmpe step towards giving the
currency u stability and measure OF value which 1t
does not hold at present. Gold rs 1t is unsettles
values. We call 1t the standard. but do you Ind
trary prices were arbitrary and capricous.
Take wheat as the standard Of value; VIII IL not be
more reabieS Make merchandise OF gold ana you
place II in sphere where speculation Is disarmed
of It's power to disturb monetary values, A little
such legislation as last WINTER wona
than they are now; not tnat claim particular credit
but 1t Is easy Tor any one to see from past
that the inconsistency ana Illogical practlce Oh the
government recognizing greenbacks Tor one purpose
and not for another has proved OF serious detrlent
''It may be expected that when Congress assem-
bes you will recommend a changer
II can't say that. am not the chairman OF the
WAYS and Means. That committee VIII no doubt
propose some brilliant experiment after It's FESTIVE
summer experience around the country"
"What delightful time they must have mad,
Here the Generals expression OF countenance
changed and gleam Of savage JOY seemed to shoot
from ms eye az the prospect OF oyerhauung In the
House OF Representatives the junketlng tour OF the
Ways and Means, with SchencS, his lmplacaDie Zoe,
at the head OF it,
81 haven't been to California" he observed, 'out
the Ways and Means have. They could tell you
good deal about gold and about very nee wine
called golden wedding They are good judges OF
both It was my luck not 70 De % on tae committee,
their experience down IN Washington. Being gay
party they, must have had much fun"
'But, don't you think the government might well
afford to give the hard worked ways and Means
"a little recreationf" ="
sExacty. am better pleased that their summer
excursion was paid for by the government than that
they should accept an invitation from railroad and
other corporations The railroads would look for
some sort OF kindly return, and everybody that did
them a service would be coming to Washington TO
get SO nc equivalent in exchange 1t is cheaper for
the government In the end. or course they will fur
nish us with very interesting narrative next win
ter, when the days are dull. IL VIII make. splendid
nreslde reading, aud cheap at that"
.You Will listen In humble silence, supposeW
'Well perhaps, but It ia better to wait"
hnt 1n unu
President Grant and Secretary Boutwell, being mixed
up In the late gold speculationW
LAS to MIR. Boutwell,, don't believe word OF 1t.
j have known him for twenty-five years and have
always considered him an honest, straightforward
man. l am not the least inclined to change my
opinion OF him now and In regard to General Grant,
tue story Is Just as false The fact Is the whole Of
this sander was fabricated and set anoat IN the In
terests OF the democratic party 1t has political
significance easy to read. We are on the eve OF
elections in the two great States OF Pennsylvania and
OHIO, and this story IS circulated TO prejudice and
break down the character OF the administration.
They are using it now on every stump IN ono and
Pennsylvania"
'But, General these gold spectators, such as
Fisk and Gould, don't care button for politics."
would find that right behind them and in with the
were democrats OF influence and wealth. who seized
tne OPPORTUNITY Jul 10 @ sarn , 70 @ Ppoa @ account ana
who were prepared to throw out any insnuations
against the governmentfor being banked In their gold
speculation. Wait and you Will lind That am correct.
Make It appear, even so vaguely. that Grant and
Boutwell, were IN with the gold swindlers ana you
StapRer IIe pTOSpcCtS VI Tile parry tudt SuppoTS
Ihem What earthly good could IL do this Fisk or
Gould to labor to that endf II they lost money 1t
would not bring It back If they made any they
ought to be thankful. But Tammany Hall could be
served, and there are men In that concern capable
of any baseness that would help their interests IL
is all party dodge, which IL appears very strange
to me the papers are unable to seen
"what do you think OF Corbin's connection with
the ringr
sI know nothing about him. II he be q brother
in-law of General Grant It does not follow that he
directs the affairs OF the Treasury He no doubt got
entanged with the other spectators and pretended
he had an influence which he hadn't. He suffered,
l suppose and the others are down on him now for
making representations which were not afterwards
sustained A weakminded man, 1t Is to be pre-
sumed, with just enough cunning to extract some
loose information, In roundabout way, from The
President, who was unconscious OF the object, ana
thus he led the ring and himself into loss and mis-
chief. Sucn people deserve to suffer more than the
dis afnrI Ihnu