, 1875-11-27
He Believes in the Policy Tending to
Gradual Contraction,
But Doubts the rracticabilIty Of Fixing q
Day for Resumption.
Many Clerical Heads In tho interior d.
partmcnt Marked for the Basket,
Displaced Revonuo oAacsra Cry Alouh
for Relief.
THE CURRENCY.
SENATOR FEHRY'a ylEws.

Spte7at D'tDakh 10 Ths Chieaqo T$f6uns,
WA8Tlsd7oS. D. C., Nov, 28.-ecpstor FetrT,
Of Michigan. has submitted to Al interview on
tho currency question. In siew Of the fact that
Mr. Ferry is now c1-of}clo tho vice-presideut Of
Tho United stltes, hts vicws aro Of special i'm.
poftance. Sir. Ferry, in tho consno Of this in.
tesvio~. II lie has boon correctly reported
said
y. 7inw' mt Whit they In the frat session
of tue Eos'y.th!F1 consscs1. sid II you MI look up
ny ny, 'p:., @ he., NJ .nd ny work In somn!t.se. ,ou
Of N imitation Of tbs currency, I waa In
favor Of limiting .nd t.tus The circulation Let ms
explain. Nhru tic lii to authorize increase Of
ass 'noo Of sroennack. was uuler a',cn.,on, nd
VOTED !nAkln3 thu paper currency nf The conutry
nnorm IL It's n3sur: an1eaa M 1f 4 nf'trseuoe cur nau:
wantei to abo'fsh tho National D,pk carr.acy and
substitute Eresnbaek. but winuo st TIC *an'o tme
sn 70 'ess ao, p.;ns y, .ee"T$ t.,
depression Of raea and The staHuaton of trade. The
country las snce su1erei. Il II 'y theory, but
sili do notanz to .ttss ths present st.tns Of the
shanfs. Iao ls.amp,io1 iii the hest thins u.
der tho circumstances. It was, tn certain seatu5cA
triumph fur INF cwn opinion. / s'i.ocased lImsa-
ton Of th+ crrenry watch would fix tao maximum Of
Riren the peopia would h.ve had tia qnal.tY Of ~
ceIsahsy by the Government well by tho peop1a.
II woul hssr legal tender to tLo United 8,s.es
Tfea.ury ~ well 4. anpuR the roote Al large sd ths
Govrrrncnl refused 10 tiscrrat its own paper, il
PAPER wonl not have errcciated. IIa. we dons ~
FEapre di1-:skcn or ai~f 1t The cnbto1n-IIouae,
md fnr MI tletts sal payments to tho 9orernment.-
vt should have tcsn n,lr Errcnhscts Kooe. ths
MT notes , os .lc h,nk of franse Ssre ~ th.onxa
when the Question VAS NJ N Committee,
ad.ocs,cd giving Rreenbarkn tie quality Of nlvera'
receivahIItt! hut WAS mct by tbs obeciou that tht
exception ~ ra4e o ctston. iutie', and tho Hike VA
fsng the foftign tut,srr'hcfa 10 oanR.-that
hrd definite source IT sud firm which tn supply tbs
lGterea1 on our boA'; hut now nur honds al ras
or ct premium III. gold. s.d the n-oeas't3
t referred to has ras1ei. tbs Resumption blu
Ct la.t IT., year "as romrtom'eC usss,ro 10
.pro'nicd chsrm.n of the spec!.i COMMITTEES Of ths
| Senate. whIh empowered 10 fran,0 It'll elnhrsc
lug tile virws Of The Itcpultcan ia;eTty Of tbs Be
ate. AMI the ltc.unpton bill. tha rehnt Of dollb
rr.tinns. thr cnrrsomso rnfaense which passed
ls'tb Nou'e. OF ConRrcrs. In that Hill thcre Is pro-
vision allowing fseo In nkin9 NJ which Wis an orig.
grscnhacks d'wn to : minimum Of sM.0oov Tht
] contraction ia dependent uron the demand fnT mar
national currency, ~ th't contraction of green
! hacke nn,y :o',rus npnu IN tntrcahe o! SatinnA
Hank nnte:. suue of the members Of thu COMMITTEES
wanted to III dnnnit, au1o,nt OF contraction psi
month or year hut "as opros:a to doing 10. a. ths
aw stands, the responsibility Of contracting tht
Rfcentacks ,es With tue z,eurIe thrEsrlyla ~as In
faror Of putting M hae.-n fact opposed aug data
nt Ill. Iheeved resumption wonid ho arrived 1t ~
the nat',r,s growth nf trade. and by o,,couEa9ns tha
rrtepertt. Of t,e country. nrnoac1 tbs dAtc 1915
Itscnnoualy. and oniI acteptcd l-1a compromise
to fArlltat+ Iecteat'"n and quut tho atstau ni ths
country. " lrAe In larnpnlz4' tho nsaEv conflicting
| ontnluas Of thr Cnmtaitlse WAS its Chatgnnn. |
cdcl potuts, md Eatnc'a o,aets eonesith
conditional ernsraetsou, and R.inct denn!tc dI,san,
period for resumption iahnretl to defer ue date
far ~ was ttidcfot In MT view Of wh1t no could do
IN Jscordent Committee. fearoa for the result
upon business Of G1inr hnF dcflnte period for rn-
| 'nnptlol. pro1hestrd that Eola would Aasance
Tho premium then 10Y. It hna ste idly adranced
atucn, and will psoTc whethef h1ing daso waa wss-