Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1873-10-14
Ex-Prcsident Johnson interviewed.

ter his arrival allowed himself to be Inter
viewed" by a reporter Of the Star, who says:
Mr.. johnson certainly holds his years well.
His face is as fresh as mountain rose and his
complcxiou fair and transparent. He Is cheer
full in his manners and received our reporter
with the utmost courtesy He was clad in
full suit Of conventional black with coat cut tull
in the skirt and pair of roomy pantaloons,
black vest, we'll starched shirt aud standing
collar with black neck-tie. Upon entering the
room our rcporter accosted Mr.. johnson as fol-
lows, after exchanging the clviitles of the day !:
Reporter. Mr.. johnson 1t has been stated
in newspaper ragraphs that the object of
your present visit to Washington is to place
Yourself right, as you said, as to your action in
the Surratt case, again brought prominently TO
the surface by the recent letter OF Judge
Holt
MIR. johnson. Well, came to Washington
as is my custom, at Intervals to attend to a
little private business. don't like to answer
your question. Wait few days, and some.
thing in connection Herewith may develop IL
self
Reporter. Is it true, Mr.. Johnson, that
YOU had $50, 600 on deposit in the First Ma
tonal Bank of this city
Mr.. Johnson Yes, sir; about that amount.
Reporter Was it special deposit ?
Mr.. Johnson Yes, sir, aud at small rate
Of interest, assure you.
Reporter. THAT makes you, of course, one
ofthe preferred creditors, as special depositor
Mr.. johnson. Yes, presume so.
Reporter OF course you heard that Prcsi-
den Grant was deposllor III the bank
Mr. johnson. Yes, and they say his account
is overdrawn. Now, how easy it would have
been-of course don't say | said this-but how
easy it would have been for Mr.. Grant TO have
drawn check for the large amount he had in
the bank the day it suspended aud not know
ing exactly how much he should check for, &c.
cidentally overdraw scvcuty-cigbt dollars Now
understand me, don't say this was done; but
with smie) how easy it would have been for
| him 10 have done this.
Reporter - Did the financial crash strike you
as preciptate or unexpected?
| MIR. Johnson no, | knew it was lnevi.
table, but | did not expect it so soou. | thought
sooner or later it muSt CONE, but did not
look for it for few years.
Reporter. the failure of the Cookies
not surprise you?
Mr. JohDSou.--Well, confess it did, |
did not anticipate that they would be first to
90 under. You see Mr. Cooke has teen dab
bling in District politics, aud | never did be-
leve that banking Interests and politics could
harmonic. The truth is. our whole banking
system is wrong.
Reporter. what respects do you consider
it deficient?
Mr.. johnson. We'll, let's 60 back a little
Before the war We had floating currency Of
S2lO, 900, 900 The war. of course expanded
the volume Now, with the war rover, we have
over 400 millions. Now all countries, whether
Christian or pagan recognize only one basis,
and that is gold. \ uu may have gold 10 coin, in
bars, in ingots, or in .iewelry, aud you offer it
for sale. What is The effect? Why all that is
required is to know how much it wcighs-it
will always bring its value. How about legal
tenders? They call them legal tcnders-l call
them grceDbacks Go with your legal teuders
to buy bill of exchange on LoDdon-what do
you buy it with? Why. gold or its equivalent
in coin. Now, how about national bauk notes?
Let me tell you il it were not for the fact that
| the national bank notes are secured by govern
ment bonds, the present financial crash would
have spread distress 10 every section of the
country The full effect for this reason, is not
war was to be precipitated upon the country
where would be your national banks? Where
would be their notes? Why, deprecated fifty
fold, and why? Because government securi-
ties would decline. Iu old times, when bank
failed its notes went with it. Now, national
bank notes are secured by government prom
Uses to pay, and the full force of the crash is 10
a measure impeded.
Reporter you believe in return to
specie payments?
Mr.. Johnson.-I think gold and silver is the
only true basis. What a ridiculous attitude
the Government is placed in. Tissues its notes
and then goes into the market and buys them
up at deprecated rate. Why, it shaves its
own notes, and such transaction, not many
years ago among honorable busuess men, was
considered dlsreputable.
Reporter. Do you think the action of the
Government in relieving Wall street was wise
measure?
Mr.. johnson. Il don think the Government
had any business to interfere. If the Govern
meut is to go to the relief of Wall street every
time Wall street is pinchcd, it will finally be-
come a part of Wall street. What sad CON-
mentary The crash deprecatcs securities, and
the Government, like note shaver, rushes in
and buys its own obligations at reduced rate.
aud calls it relief: Why the shoe must pinch
somewhere. am Of the opinion that we have
enough gold in this country, and it produces
enough to return to specie basis. All the
gold is boarded somewhere, and when the final
crash comes the wealth of the nation will be
held 10 dozen or two reserved places where
gold is boarded. II we are to have currency let
us have uniform currency, and make it par
with gold. OF course if my greenback is par in
gold | feel better than when carrying the dirty
nasty fractional currency DOW Issued. This sys-
tenn of initiating the currency is all wrong. AS
currency is iuhlted gold recedes. If looked at
in the right light, the laws governing the cir
culaton of money, whether in gold or its equiv
alent in paper, are just as infcxible as natures
law with the ebb and flow of the tides. With
deprecated currency man receives TWO dol
lars, where with Il good sound basis he might
only receive one dollar per day, but if he buys
as much with one dollar Of gold as he does with
two dollars Of deprecated stuff, dom it show
that something is rotten, and that the people
know it. Why tell you young man, there are
lots of young men in the country, plenty in
Tennessee, who have never seen gold coin of
their own country, and would be surprised to
see the same The national bauk system is all
wroug-ali wrong.