Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1869-09-03
a Talk with Mr.. Pendleton

"PoAueut VI the New YOrL I,
recently mad al interview with Mr. 6Sur
a!eton' at his residence near Cincinn.Irel
Mr.. Pend!eton's views on most ono uail-,
OF pubilc interest are so we'll KNOW VSI' 81
would De useless to reproduce them olstl
The following extracts from the ra, gan
the conversation, however, are wo nPtEHn d
note at the present time: "'''Iy O
THE ISSUES OF THE CAMPAIGN
Reporter-What are the princin,I
OF the coming canvass in your Stat" ISSUE;
MIR. Pendleton-The finances H.,
and the fifteenth amendment are tho @fIf,
important questions. The Rad;n uI most
take the opposite side on these on5 will
also try to reopen old sores, nv c "uu will
ing our course during the war o4 oni
bringing up charges of extrayapantt "uo by
ditures of the public moneys bv a. IL1pel'
Democratic Legislature. WIG as,
THE DEMOCRACY TO SWEEP OHIO
Reporter-And what will be tho 49,.
of the campaign a? result
Mr.. Pendleton (emphaticalIv)--Or.
cess. We will win the fight. We Will sue.
our utmost to secure the vote of evo will Try
in Ohio next fall by all the honest y y man
in our power. The clans are oIroo Ile'ls
work, and will fight the enemy 70 t5S IA al
ter end. 'No ut
MIR. PENDLEToN ON BoUTwELI's p1v,,.
MEASURES.
Reporter-What is your opinion of n,
Boutwells financial policy ? All
Mr.. Pendleton-As far as urdAr.,.,,
MIR. Boutwell's policy, it consists il I I',.
ing bonds at their market price a,J
contracting the currency. | think g. IL
the bonds should be redeemed ot r i',,.
par-value. This would save the * nrg'
per cent. premium which Mr.. Boutwell,
paying, and would enable him inst
much the more rapidly to pay the debt
L object also to this system Of cOutrart;,,,
1t is having most disastrous effect nn&,.
all the industrial interests OF tho countrr
business is almost paralyzed. }ust ln6l
down the streets of Cincinnati. and y.n
can see for yourself. Then, again. W.
have great diminution of arriculIn,.,
labor. Wheat and corn are now scITH"
for much less than they wore wear non
With an enormous debt created upon IL,
high prices of an expanded currency. AMI
the enormous taxation consequent upon if
the contraction OF currency necessary
brings distress everywhere. l saw in tIn
newspapers week or two ago that none,
commanded 100 per cent, in New York
All the commercial men of Cincinnati and
the manufacturers are cramped today l,r
want!of currency. Tho'pressnro upon nr
banks of Cincinnati by merchants OF In,
highest standing in the city is without
parallel, and the brokers on the street
could tell story rs to the interest Do
handed which would astonish You Mr.
Boutwell, has great power. in the man
agement of the Treasury he can expand Or
contract the currency. He can max,
hard times or easy times | think lie
ought to nse his power for the benefit and
interest OF the laboring men Of the coun
try, whether they labor by their hands q
in the employ of their capital in CONNER
cial or manufacturing pursuits, and not
for the interest of tho bondholder and
bankers.
PAY THE NATIONAL DEBT IN GREENBACES
Reporter suppose you are still in
favor of paying off the national debt in
groenbacks =?
Mr.. Pendleton- Certainly. And desire
to be distinctly understood upon this
question, so that there may not be any
misunderstanding. am no repudiator as
some people have called me. ] want
to see the contract entered into between
the Government and its creditors fulfilled
to the very letter, nothing more. $,
much Of the debt as was contracted before
the Legal Tender act, and which W
promised to pay in gold, should be 50
paid, but the rest ought to be paid III
greenbacks. It was so contracted, and are
we TO pay any more? And here desire
to correct an error. Some OF the news,
papers have stated that / was in favor
of the issue of three hundred millions il
greenbacks. [ have never so stated OF
desired.
WHERE To GET THE GREENBACK3.
Reporter-But where would You get tie
greenbaeks with which to pay this large
debt?
Mr.. Pendleton-In the first place, from
economy and retrenchment. Secondly
Justice to all concerned requires that I'll,
volume of currency should stand at tie
amount at which it was when the debt wa
contracted. With greenbacks colectel
from these two sources, and without any
undue expansion, the debt can be pal.
within very reasonable time.
THE VOLUME OF THE CURRENCY.
Reporter-Why keep the volume of cur
rency at what it was when the debt va
contracted /?
Mr.. Pendleton-It is honest to pay bach
to the creditor of the United States tn
value of the principal borrowed and tL
interest. If the currency is kept at tl,
amount at which it was when tho debt va
contracted tho InOo1 fnn6ar nail 70 th(
creditors will be of exactly the same vaIu
as the greenbacks which were recelyel
from them. This, l think, is honest O.
the part of the Government, and just L
the creditor. / cannot say from memoT
whether the amount of legal tender eH
ceeded the amount provided by law
HOW TO RETURN TO SPECIE PAYMENT
Reporter-And how can we return (
specie payments ?
Mr.. Pendleton-We can never return t
specie payments except by vast contra
ton of the currency, aid L saw that Gin
cinnati journal the other day, concunln
in this idea, asked in very emphatic term
Who dares to propose that now p ~
til the debt was paid, and the interla
taxes are reduced and cqualized, and Tx
duties on imports fairly adjusted, contrac
ton can only increase the hard times wheel
now exist, and bring final ruin upon tA'
debtors of to-day.
MIR. PENDLEToN's VIEWS on THE TARIFF.
Heporter-And what is your opinion
concerning the tariff
Mr.. Pendleton-I would reduce the tarD
to the lowest possible limit consistent WIN
the collection Of a sufficient amount u