Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1875-08-11
..oul, UNCLE WILLIAM.
Gov. AileM's Belief Of the Cmrren
Question.

/
Gov. Aiien's Belief Of the cmrrcn
| Question.
A correspondents Of The 81. Louis Re
/ publican net aud talked with Gov. ALE.
at Columbus, o., the other day. After
few moments talk on political topics gen
orally, the correspondent inquired:
"Gov. Allen, have you any objections t,
making an explicit statement as to you,
attitude upon the question Of specie pay.
ments and their resumption, immediate o,
remote? None Of your public utterance.
that have seen have been unmist,kabl
explicit on that point
The governor replied that lie was in &C.
cord with the democratic p|aii,rm On tha,
subject.
"But," said !, "Gev. Allen, the demo.
cratic platform is hot what call explicit,
on that point. lam a hard-monsy man
for example, in the general sense of the
term, and yet could vote the ticket run.
ming on that platform without any serioas
sacrifice Of conviction
The governor said he was not hard.
money man in the sense Of believing that
gold aud silver were necessarily the only
true basis Of currency.
swell, governor, did you hear Mr.. Pen.
dleton's speech at Gallipo.is:
mo, sir; | had to come away b, lore Mr..
Pendleton began"
slave you read it?,
"No, SIR"
"Now, let me read to you an extract
from Mr.. Pendieton's speech, touching this
point, and then, il yon please, tell me
whether Mr.. Pendleton's views arc in ac-.
cord with your own" II then read that
portion Of Mr.. Psndleton's speech in which
he says that, speaking for himself, and be.
lieving that he truly intsrprets the Telling
and Views Of the body Of the democratic
party, he believes in bringing paper money
to par with coin and keeping it there. &c. ]
"Does that meet yonr views, governor ?,
"Tha', should say, was rather in the
nature Of a compromise between my views
and those of the bullionists', replied Gov.
Allen.
"You use the term sbulionists' to des-
ciibe the opposition to your views !; do /
understand that you are an anti-bullionist,
that you are Fundamentally opposed to the
doctrine Of resumptions'
"That question: replied Gov. Allen
"opens large field Of discussion. To 20
over it would require too much time. As
yet l have not perfected my public utter
ances on the financial question. I have
made two or three speeches, each embody-
ing some fragmentary treatment Of the sub
Ject; but ! have not yet blended them into
single complete document"
"Perhaps you do not exactly catch the
purport OF my Question, governor. The
point is this: There is q square issue be-
lore the country as to whethere specie pay
ment, shall be resumed, or paper money
made absolute. The people are dividing on
the Question - u ~i,Ssh.s coined metal o..
stamped paper shall be the standard Of
value IN this country for all time to come.
Have you any hesitancy In stating your
exact attitnde with respect to this impor.
tant question:"
At this presentation Of the question our
Uncle William hesitatela a moment and
then said: 81 regard specie payments in
the sense in which that tenn might have
been employed twenty years ago.--as
phyacal impossihility now and for all time
to come. In my Judgment the business of
the world, and the financial needs of man.
kind have outgrown the capacity of the
mines to produce precious metals ..enough
to serve as basis Of currency. The husi.
ness OF the world to-day is transacted, no.
by the transfer of coin as in the days of
Venetian and Spanish commercial supreme
acS, but BY tie interchange of paper bills
representing credit; representing the con-
fidence of men in one another; confidence
which IS the outgrowth OF an intimate &C.
quaintance between communities and ma.
tions rendered possible by modern methods
OF locomotion. In some countries there is
still coin in circulation, and paper money
is eych angeable at par for it. But no
where do specie pay yment exist except BY
snileranca. Nowhere could the shadow of
Of specie payment which does exist be main
tanned for q moment the people who hold
the paper money were to Withdraw their
confidence from the banks which hold what
there is Of gold. In a word, the pretense
OF specie payment which exists In England,
the strongest coin country in the world,
would fall Tomorrow but for the credit Of
the banks based upon the confidence of the
biil-holdefs. Therefore, you, see, the basis
Qf business 10 specie paying as well as nom
apec,e-paying countries is credit, aud moth.
lag but credit, after all. cannot now 90
over the whole subject. can give you my
view Of the matter in few words. re-
gard the accomp mplishment Of resumption in
this country as a physical impossibility.
And regard the whole doctrine OF specie
payments as an ideality, without practical
foundation to rest on. Iregard 1t as id
barren ideality, SIR
Pespe in the Famiiy.
= The following excellent rules for
promoting peace in tho family, have
been given:
/. Remember that our will Ia likely