, 1874-05-13
FINANCE.
Views Of President Grant.
What a Farmer Thinks Of Imitation.
THE PRESIDENTS VIEWS.

IdN PRESIDENTS VIEWS.
From The Noston journal, Mat 8.
a gentleman from Boston oalfed upon proBt
don't Grant on Monday laHt, to thank him for
Ills voto message, and tho beneficial ei1oct it hnd
o1erted upon tho finances Of tho coun-
try at homo md abroad, when tho ro-
port Of A1r. Willsm Gray Of hls In
toryisw with tho President Was mado tho subject
Of conversation. Tho President remarked that
Mr. Gray had given a very correct impression Of
tho Interview, although 1t waa not expected that
1t could have been reported In tho precise Ian.
guage+ Ho eaid, as to the original 1ogai-tondor
aoth. thoy wore not now opon for oonsidera-
Non, or
EVEN CRITICISM;
that. when they wore adopted, they were adopt
cd by loyal mon for the salvation Of tho country,
and with them the War had been successfully
carried through; and 1t was only with that suo-
cess, and the results growing out Of 1t, that NO
had any country, or currency either, to regulate.
This, the President said, was the point that he
hilnsolf Lad uppormost In hia mind, and which
ho Intended to lmpross upon Mr.. Gray and those
ho represented.
On the question Of using the reserve for tho
purchase Of long bonds, ho said that what hc
wished particularly to present WAS tho fact that
as the taxation was thon producing a revenue In
excesa Of expenditure, and still the national
credit abroad and at home WAS not diroatly
strengthened by that fact, he had hxod upon tho
policy Of buying, or, In other words,
.,.. PAYING THE LONG noNDB,
Tor the roason that this improved the credit Of
the nation wherever these bonds we're held,
which extended throughout tho financial world;
and tho bonds. moreover, themselves wore then
overdue In oue sonse, as they had then become
payable ut the option Of tho Government and. the
Government having a surnlua of rovonuo thia
on,;on IN n.v hn.ane. Iaa,1 a,,i...,,... '&'1"
opsion nv " pn5 became lega. obigatton.
Inc flosidont further said that ho was in favor
Of going further thnn Mr.. Gray Or bis Commit
o,'t 49, ss's.s ~ f;. ""' u'ol.5 .o"o"1us
~. Ao 0ano AAo =. Po"os' ao 1a'u she 4egal-
tender acts shemselves should now DO repealed !;
they had worked out their whole office taoy
had carried tho country through tho war, and
ne.-" ~ .0o. "esoo1aty ~" ~ nopeu saat
oonsfess' auflnB lts present BOSTON, would
REPEAL ALL THE LEoA1r7ENDEn Ao1a,
Buoh repeal to take effect Jim. l, 1875, mud hat
oo1d .haaa Ha sai1 :. -ron,d sooa' raao .,a W 1
6oa,paae. oe sa1o IL "onia soem that this
couia DO aono "lthoas any disturbance OF the
commercial or financial fntorosts Of the country,
and, once accomplished, all temptation to infa-
E0n WAS ended.
Az to the taking away from Now England tho
excess OF bank-ciroulaton, ho said that IL really
amounted to nothing. The banks from tic
East we're now returning tleir circulation and
Withdrawing their bonds much moro rapidly
than there WAS any demand from tho West and
the South FOR tho circulation. uo thought tho
tiEuros would show, within tho last few months,
that moro than double the amount Of circulation
naa M neon returned a isGm the East tlat was asked
not think tho Currency bill, II ho had signod It,
would have produced imitation in the present