The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1874-05-01
Ben. Butler on the Finances.
IFrom ihl sunday, (New YORK; Herald

Iday There reporter Of the Herald
met hiin. The General was in the very
pest condition of temper. .lacidity ant
amiability appeared 10 be phonograph
J,ed upon that remarkable expansion o
b brow that seizes the first attention o.
every beholder Of the familiar face Tn,
ordeal of AN interview. so much dread
; led by some public man was tie playful
pastime OF the great Essex statesman
lanG he assumed to the reporter fami-
liar and confidential tone that was truly
. charming. Now and then the humor o
his sayings was evidently enjoyed even
-lby hipseli, and his recent dcieat in Mas
-achusctt, appeared TO be a pleasant
: memory. The following is the substance
.lOf the interview:
Reporter cater the usual salutation.
bad been exchanged General, how i.
Imitation?
I General Butler Imitation Nobody
lis in favor OF imitation. don't know
anything about imitation. The good pco-
.lplc OF New \ ork have not vet learned
the true name for the increase which ha-
been adopted by Congress. Nobody de-
sires To initiate the currency, but what
{ cngress wants is to expand it. Let
me ask YOU: Why should green back
oi 10 days issue not be worth a. mucA
las one OF the day before Yesterday, is
sue?
Reporter : If Congress were TO issue
lS5OOOOO,UOO of paper money to-day
would il sin fail to dcpreciate tie cur
remcy!
Gcn'l Butler (witb dclibcraton. and
lclo~ing the famous cyc) If Congres~
were TO issue $500 OU0OOC OF .rcen-
backs and with them ak up $5GlOJJ.-
900 of Understanding bonds
InE INTEREST N0yLp BE SAVED.
Would il not? Would not the grecn-
back. as part of the National debt. bcI
ENHANCED in value: All the difference
would be in the premium.
Reporter Why i il that so many OF
the best minds Of the country look al
the measure as one iraught with ruin?
Gen'l Butler This cry of ruin comes
from the men who hold the bonded
debt, which amounts TO about one quar-
tea OF the .otai values OF the country.
II there could be such contraction of
the currency ~ would make its value
equal TO that OF gold all the property OF
the country would be deprecated about
fifteen per cent. actually. aud perhaps
thirty per cent, except ,he debts which
are owned 10y capitalists. which would
in rease III value. II would add 10 the
capitalists wealth fifteen or twenty-five.
per cent, while every body else in the.
country would lose IN the same proper
ton. Wien during the last panic. everv-I
.if
ulacturcs and everything else fell thirty
per cent. in ten days, the bonded debt OF
the country did not fall. and mems notes
did not grow any les. However, the.
depreciation Of values was 50 great that.
% could not be compensated for then byl
The increase of the value of the debts
which the capitalists owned. There
fore, on tie SUNDAY of the panic, the
very men were tearing
THE SKIRTS OF THE PRESIDENT
To prevent his going TO church. in orr
der 20 persuade him 10 issue the $i4.-
UOO.UpO Of reserve for the safety of thei
country. who Yesterday went 10 WASH
ihgion TO ask him il he would not veto
the bill which lcgalizes that issue. THE
General laughed.
Reporter = DO YOU think that Presi-
dent Grant will veto the bill. General? |
General butler = have no means of
knowing except what you and evcrv-;
body knows. For my part must needs (
think il q very impudent impertinenii
proposition TO ask bin 10 veto bin
which merely lcgalizcd what they had
previously asked him 10 do. For this
and other reasons do not see how thei
President can say by his veto that il is
not proper for or within the power Oft
Congress 10 make that legal which he
himself had done.
Reporrer-W lat Of the argument that
all tie solid and solvent countries OF Eu-
rope. England. France, etc, have spe-t
cic payment. while only such insoivent
countries as Spain Italy. Austria, etc,
stick TO this inconirovertible paper MOI
ney!
General Butler England has issued Al,
paper currency convertible into gold at'
the pleasure OF the holder howcvcr.N
when ANY man calls from the Bank OF
England ElOOOOt0 she increases her
rate OF interest onc-third. if f2.OOOOlOI
are called from the bank she doubles il !,
il E5OOO 600 are called from her She
irclles i, aud il E70Oo0OO are called
Tor
sHr sUsrENns srrcTr PAYMENT
Altogether. Since 1913, ana aaar hav-f
ing broken an the merchants tie
bank has three times suspended specie
payment - ia 1sis. in 1895 and In 1866
The same argument holir good with re-
gard to tile Bank Of Franc. lhe opl,
relief in times of distress for tle pco.
pt9 has bppu IA st~ppnl Snrri. M Vutnns