Wilmington daily commercial., 1875-10-04

| EXTRACTS FROM AN INTERVIEW WITH FRED, HAS
sAUaEK-THE LINE ON WHICH THE GREAT FIGHT
| WILL BE MADE-rHg GREAT POINT WHICH MR
| scHuRz FAILED TO MEET.
| From The Cincinnati Commercial, Oct. 9.
| Ono of our reporters. yesterday, in IL conver
sation with Mr.. Hassaurek on the issuos of til,
campaign, alluded to the criticisms appearing il
the PoMsbtaH on the speech of Carl Schurz
Mr.. l1assaurek replied 1 can say this-that il
| the first place, although tho speech OF Mr.
Schurz i5 admirable as far az it goes do moi
think it is as philosophical and radical presen-
tation OF the question as that OF Judge Taft, be-
cause Judge Taft has presented the issue whicl
| to me seems TO DO of vital Importance whether
the Government shall furnish the paper curren
cy or not. On that line believe the great fight
will have to be made. do not betieve in paper
currency issued directly by the Government.
AS long as the Government Issues paper
money, the business OF tho country will
never be at rest. One Congress- will
Will want to expand, another will want to con-
tract 1t, and there will be no end TO agitation.
We can never reach n specie basia
gradually, because the danger is that before
coming to that Congress will undo what has been
partly done. If we ever want to return to specie
basis, it must be done by one act--a c5,tp d.
main, If may no express it, by measures ad-
mitting of the quickest possible execution.
Iwould have the Government issue new
bonds for gold and apply the proceeds to the re-
uelnpuOn Hlu cnncellhUlOn OF Une BreenDaCkh.
Let the world understand that tho proceeds of
these bonds arc to be applied to that purpose.
Then the greenbacks can be withdrawn as fast
as the bonds are sold, 1t will be objected to
this that it will be the conversion Of a non-in-
terest-bearing into an interest bearing debt
But we must apply the same rule OF fairness and
morality that governs private Affairs to the af-
fairs of Government.
The odious feature in it (the National Bank
system) of a monopoly having been abolished
Il.
wanted, redeemabie, OF course, i'll gold and sll-
ver do not 800 why the National Bank sys-
tenn, under proper restraints and guarantees
might not be made as safe as the Bank of Eng
land. These are 10y views, but Of course l can
not now go into an argument to sustain them.
The great point which Mr.. Schurz has failed to
meet, aside from the question whether it il
proper that the Government shall issue the pa
per currency of the country, is made by the
moro moderate Inflatonists of both parties.
They say that substitution of greenbanks for
the outstanding National bank notes would not
be an imitation of the currency, as no more
greenbacka would be issued than there arc Ma
tional bank notes in circulation. This point, to my
positive knowledge, has carried away a
great many voters who wonld otherwise be
sound on the question of imitation. Yet for ma
ny reasons this would be but tho entering
wedge. IL We cannot return to specie payments
with circulation of a little less than four hun
dred millions Of greenbacks, how much less
WOUiu Wo De hDle 10 uO 30 Will Volulno Ol uedT-
ly eight hundred millions 1t would be notice
to all the world that instead of moving towards
specie payment we intend to move away from it.
liza gold and silver basis is such good
thing, there must be a way of returning to
it ; aud il those that advocate such basis
do not show us the way will not the people
DO led to believe that Governor Allen il right
when he says it is a nero barren ideaty. /
have heard many men express the opinion that
it WAS altogether impossible to return to u gold
and silver basis This is dangerous mistake,
which should not be permitted to spread. But
the first thing to show is in what manner such
return can be effected. L know this may give
rise to differences of opinion for awhile, even
among tho opponents of initiation, but the sooner
these differences are reconciled by thorough
discussion the bettor it will be, for otherwise we
would carry the same difficulty into the Presi-
Dental election, where it's effect might be still
more injurious.