The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-19
GENERAL BUTLER.
The Poor Boy Of Massachusetts,
in New York.
What He Thinks Of Imitation, of Expansion, Of
Capitalists and the Bank Of England
Probable Action of the President
Election Of Washburn.


General Butler, on his way to Boston, stayed at
the Fifth Avenue Hotel yesterday. There O
porter OF the HERALD met him. The General was
IN the very best condition OF temper. Placidiuy
and amlabty appeared to be photographed upon
that remarkable expansion OF brow chat seizes
the first attention OF every beholder OF the familiar
face. The ordeal OF an interview. much dreaded
bv some public men, was the playful pastime of
the great Essex statesman and he assumed to
the reporter familiar and confidential manner
tnat was truly charming. Now and then the
hum0r OF his sayings was evidently enjoyed even
by himself and his recent defeat in Massachusetts,
appeared To be pleasant memory. The following
is the substance of the interview
RErORTKR iafter the usual salutatons had been
exchanged) General, how is nnatonf
General Decentralization? Nobody Is in favor
OF imitation. l don't know anything about infa-
tion The good people OF New York have not yet
learned the true name for the increase which has
been adopted by Congress. Nobody desires to in
date the currency, but what Congress wants is to
expand it. Let me ask you. Why should a green.
back OF today's Issue not be worth as much as one
OF the day before yesterdays issues
RRP0RTER-lf Congress were to issue $500, o0O 900
OF paper money to-day would it still fall to de-
preciate the currency?
General BUTLER with elaboration, and closing
the famous eye)- Congress were to issue
S50O,GO0 900 OF greenbacks,and with them take up
$500, O0o. 900 OF interest bearing bonds
THE INTEREST WOULD BE SAVED
would 1t not Would not the greenback, as part
OF the national debt, be enhanced in value All
the difference would be IN the premium.
REPORTER-Why is 1t that many OF the best
minds OF the country look at the measure as one
fraught with ruin
General BUTLHR-This cry OF rum comes from the
men who hold the bonded debt which amounts to
about one-quarter oil the total values OF the coun-
try. II there could be such contraction OF the cur
rency rs would make Its value equal to that OF
gold all the property OF the country would be de-
preciated about fifteen per cent actually, and
probably thirty per cent, except the debts which
are owned by capitalists. which would in
crease in value. It would add to the capital
lists wealth fifteen or twenty-five per cent, while
cverybOl ~ else IN the country would lose in the
same proportion. When, during the last panic,
everybouy's property IN railway shares, manufac-
lures and every thing else fell thirty per cent in
ten days the bonded debt OF the country did not
fall and mems notes did not grow any less. How
ever, the deprecia ion OF values was so great that
1t could not be compensated Tor even BY the in
crease OF the value OF the debts which the capital
lists owned. Therefore, on the sunday or the panic
the very men were tearing
THE SKIRTS OF THE PRESIDENT
to prevent his going to church, In order to per-
suade him to issue the 49, 900 OF reserve Tor
safety OF the country, who yesterday went TO
Washington to ask MIN If he would not veto the
bill which legaizes that ISSUE The General
RGpoRTER-Do you think that President Grant
will veto the bill, Generals
General BUrLER-l have no means OF knowing
except what you and everybody knows. For my
part must needs think 1t a very impudent, I'M
pertinent proposition 70 ask him to veto bill
when merely legalized what they had previously
asked him TO do. For this anu other reasons do
not see how the President can say by his veto that
1t is not proper tor within the power Of Con-
gress 10 make that legal which he himself had
done.
REPoRrRR--What OF the argument that all the
solid and solvcnts countries OF Europe, England.
France, &C., have specie payment, while only such
nsolvcnt countries as spain. Italy, Austria, &C.,
stick to this incOntrOvertble paper money!
General BUTIER-Eng.and has issued paper
currency convertible into gold at the pleasure OF
Bank OF England Ell DOC. 900 she increases her rate
OF interest third II e. 00c 900 are called from
the bank she doubles 1t: II f5.OOOO00 are called
from her she trebes IL, and If f7,o00oO are called
SHE sUspESDs SPECIE PAYMENT
altogether. since lS43, and alter having ssbrOkcno
all the merchants the bank mas three times sus-
pended specie payment-in 1915. III 1857 and in leo0
The same argument holds good with regard to the
Bank Of France The only relief in times OF dis
tress for the people has been to suspend specie
payment. Why not live under relief all the timer
tAiter pause.) II Our currency has done worse
than the supposed gold currency OF England |
should like to be informed about IT,
REPoRTER-DO you believe in the probability Of
the formation Of new parties ia consequence OF
this financial question:
General BUTLER-I can't tell as to that: that is u
matter OF future development. One thing is GER
tam: that Is that the people Will nave as much
rency us IL necessary TO keep them in the path OF
prosperity where they are now and to enable Dusi-
ness TO be done without paying twelve or fifteen
per cent interest Tor the use OF money whenever
the crops or produce are to be sold.
REPOarER-f0u are the only member of the New
England delegation, General | believe, who is III
iavOr vi expansions
General BUTLER-l am the only man who feels
himself
INDEPENDENT OF THE CAPITALISTS
OF New England, and also OF those VINO would en-
rich themselves AZ the expense OF the interests or
the people and The business OF the country. having
taken this ground when first entered Congress-
and never having swcrved IRON Ii. with dec
sioD) am acting according to my best lights and
Tor the good OF the entire country and without
claiming nallibllit,. must act according TO my
best lights. unawed nv the power OF wealth and
undeterred by SANDER and caumny.
ACKNOWLEDGMENT, what do YOU think OF Gov
ernor NashDurhs election as United States Sena-
tor:
General RrTLER-Ah he has never been elected
TO any Office but as compromise candidate. lie
Is "a very amiable aud respectable gentleman, but
he ls not the choice OF anybody Tor IL took them
month to agree upon lin. He Is the first Governor
Massachusetts VINO has demeaned himself by
being candidate for the Senatorsmp We nave
always held the office OF Governor higher than
rnat OF senator ever SINCE Governor John Hancock
and George Washington waited Two Gays until one
oil them could make mp his mind as TO who
TO PAY THE FIRST CALI.
Governor Washburnis election Is OF the ac-
cidental immaterial facts In politics Il was ey-
dent that the various parties in The Legislature
the senatorial question could agree on nothing
TO break the deadlock and allow the business OF the
state to proceed ana therefore they did as
nothing as they could.
And the General laughnply shook hands with the
reporter ana nodded hun parting adicu
the LONG ISLAND MURDERER.