The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1876-06-15
GOVERNOR ALLEN !
His Views on the Finances.
Interview with Gen. Morgan


has mind rs comprehensive Is Jeffer
sons and ss analytical a. John Adams
He would offer no tnsn cial views 10 Con
gress that the people did not approve. DE-
would administer the Government as Il
had never been administered OF late
wears, for he would know no section and
BE- ne tool Of no party. And now, what
are lis chances compared with the other
Candidates nsmed2 He is stronger than
Thurman, and is the only Democrat 10
dav who can carry Ohio II October. DE-
could have carried i last tall, only for the
religious element in the canvass. de l.
STRONGER THAN HENDRICKS
In Indiana, and could carry it when
there are strong doubts /. Hendricks
can. Now VIVA; Is the Democratic party
going to do if ii be besten iu those two
States? Why, it may ~ well surrender
the struggle. for the East will follow Is
Ohio and Indiana lead. Whist chance
nas Tflden or Bsyard or Hancock? None
wnstey er. | tell you the man who car
ries Ohio and lncisns will carry the
l AlOI. ut uplE ADtAL- hAlN NS-S-- " 80
- ould go for Bill Allen because they
know ne Is statesman with the nerve
ef Andrew Jackson. Allen was the first
TO turn the tide against the Republicans
in this State. ana the result Was that New
York went Democratic by big majority
the same fall. he made al excellent
Governor of Ohio and al his messages
were always brief and TO the point. The
.act Is, the man Is not properly known.
He l. no infationist u they CAL him. l.
those people VINO cal him 30 could only
come within reach Of his arguments ne
would soon show them their mistake.
THE GREESBACK QUESTION.
Correspondent-Would you just ex-
plain where you- party Stands OF this
green osck question. that We may proper
iy appreciate i.
General Mo-gsn-The mistake ~ the
close Of the war was II medd,lng with
the currency. Congress, by l system OF
contraction and expansion, which was
lot founded Oh any sound principles o:
political economy, destroyed public con-
ddence and disturbed al. values. At the
close uf the war the nation was suffering Z
under The burden OF 30 enormous debt, aD =
me p. pie were more heavily t.Xed than
nose IF snv other country. Ten States
we're brought back 70 the Union winch
were destitute of currency OF any KIND
and only could be supplied by u With ,
medium, and while that was
Ire case Congress unwiseiy adopted the
ro!icy of contraction During the year.
] 500 and 1867 more thsT
S6oO.0O0. 600 Of paper, which performed
All the functions Of money. were With
drawn from circulation and converted
INTO interest bearing bonds. This Wa
the bagrnning OF our troubles, which
have been intensified b7 the vscilLsting
financial policy OF Congress.
NOT ISFLATIoNIsTs.
Correspondent-As Infstionisss, Gen
era. AN afraid you can never con-
nsns the confidence OF more than IA mer"
fraction OF the people.
Genera! Morgsn-We are nothing a;
L5e kind " bat We want is 20 Appre-
,Iste the greenback 70 the par value O;
cold and " hen that IL done al the ben
eft will be attained which could result
rom specie resumption, were such Il
,iing pgssihie The Wes; Is H. much IN
Leres,ed a. the East in having stable
rurrc CIV, but the difference between the
TWO sections i that the ksst hss large
Humbe- Of parsons whose business Is 10
samSie upon the financial condition oi
The country. and these gentlemen IN n
great degree influence the tone q! the
public press OF both parties. while the
people OF the West acquire property only
A. the resui, Of labor.
OBJECTION TO THE NATIONAL BANKS
Correspondeni-Whst objection have
you 10 the National BANKING Laws!
General Morgs. As system, the
National Banking Laws are unjust, and
.nsble he hsu ker 10 draw interest upon
v hat ne owes ss well as upon what be
owns. For instance, half dozen gen
.lemen owning 10000 in bonds deposit
hem with the Federal Government a.
security and receive IN exchange s9o,-
o0 in bank notes The bonds they paid
or and rightfuIly draw interest on. but
he bank notes they get for nothing, ana
SO draw interest on them. These SIX
,,en who owu $4,000 in bonds
and establish National bank
i-aw interest. no; upon thai amount
.;mply. but on $4,000. while SIX other
,ersons having q private bank ors savings
bank with 500 600 Can only draw inter
- on that amount. The consequence
: mat an inducement is held out 20 the
.svings bank 10 charge higher rates o.
interest in order that their income on
-iysn amount may equal thsi OF the
\ stional Bank. Another reason why the
y stionsl Bank currency should De taken
,ut and he bond and mortgage debt psld
,tr ss soon as NAV Be Is, tnat The people
would thereby save about s2o,oeoVVV =
yesr for the interest paid upon the oonos'
nd thst much Of the interest snd mort
-sse deb, would be discharged and the
;olume of the currency be no greater
han il Is st present
The GAIN To BIZ SECURED.
Correspondeut-WhAi do you hope 70
,sin ey sbolishIng the National ban & :
General Morgsn-1 believe BY disen-
,un bering the legal-tender notes O, 'he
BURDENS imposed upon them BY lAv, 'ney
"a be brought very nes-ly to the par
vslue Of gold To sitsin this END l, Is
ooly necessary &c allow the iegsl-senaet
notes to perform al the functions Oh
eIcep; in csses where II L other
v ise drovided by law or BY contract
Our si3e tsvors the payment o, SLOW
ooa00o OF customs dues in geld, silver OF
LEGAL tender notes q; the option OF toe
importer. The moment this Is done ihere
will be sn annual demand IN Europe
Tor sl50,OOO 600 OF legal tender money
With which 70 pay the customs oa,s
This result would 81 once appreciate tne
value Of the legal senoer money near!
to the par value OF gold, and enable 'oe
10 ob,xin gold IN karope
for the purpose Of meeting rs ooilgstlonss
.