The New Orleans Democrat., 1876-08-14
COCK.EYED BEN.



ESPECIAL to the Chicago Times
BosroN, Aug. 9.-The letter Of B. +.
Butler. accepting the honor, as mar
rated in these dispatches on yesterday,
ia published this evening, making about
two columns OF the Times. After Few
ulatitudes ON the tariff question. OF
which he sagely says. "A ludlclous
adjustment IL very important to indus
trial interests he proceeds 10 SNAKE
the bloody shirt thus: while life is so
unsafe in any portion OF the country
that innocent and unoffending men ana
women may be slaughtered by hundreds
on American soil, within period ol q
few months, and oil their mur1erers
% ,,npunished. and the injuries done
Ry them unreQuited and unredressed; ;
while great party, which claims
that no power for the protection or pre-
vention OF such crimes against its clel-
zens can be exercised by the tovern
ment OF the United States, seeks centrol
Of that Government, 1t is my opinion,
and upon that opinion / shall act. that
this question overrules oil others A
single occurrence like the Hamburg
massacre. where it is undisputed that
six titjxegis OF the United States, while
IN the exercise OF lawful right (the
right to bear arms), especially guaran-
teed in the Constitution, were rutnlessiy
slain, and for which crime no sane man
believes that their murderers VIII oe
adenuatelv punished or any redress
made to their berenved and desviate
families for their sufferings, II done In
a foreign country, would call Tor the
exertion. even to making OF war, OF
the whole power or the Government
to punish the offending nation, and
the whole country would rise up
as one man in favor OF the prose-
cution OF such n war until adequate re-
paration snould be made, even 10 the
compensation In money Tor the Injuries
inflicted upon the families, such as the
United States required to be paid by
Spain to the families of those slain from
on board the virginius. What. then,
ought we to do II this massacre
was not single instance but one
of a series Of many hundred
murders? For one, shall not
be content until the laws OF the United
States are 80 framed and executed that
the humblest citizen can effectually ap,,
peal to his Government for redress ana
protection from wrongs done MIN wnen. p.
ever his State or the community In
which he Is found refuses or neglect TO
give him such redress or protection 4
He then proceeds to
THE FINANCIAL QUESTION.
on which he turns himself loose In a
series Of involved arguments to prove
his soft.money heresies not inconsistent
with desire to represent hard money
constituency. He says, alluding TO the
resolution OF March, 1869, pledging pay.
ment of United States notes in coin and
fnyoring contraction. Il opposed In
Congress the passage Of this resolution,
because / believed it changed the terms
OF the contracts between debtor and
creditor. III not, there could surely be
no need of the resolution to make
that law which was law already. The
creditor class are now realizing some oi
the detriment to their interests OF this
legislation, because under 1t the debtor
claims the right to pay bis debts In Sill
yer. So far as could learn. there were
but some 81 500, 100000 OF gold coin In
circulation in the world, and there was
nearly $500, ,OOO. 900 OF these government
obligations due on demand, and l did
not see how any considerable portion ol
ALI the gold coin in the world was to be
brought within the United States, es'
pecially IL the balance OF trade was
against us. I was Of the opinion that
it was better for the country that
it should go on In its then career
OF prosperity, and by the accumula.
tions Of its industries, retrenchment Ia
It's expenditures, and increase Of Its pro.
ductiveness, It should strengthen Its
credit and demonstrate Its ability to pay
It's debts, both public and private. until
the premium or difference between Its
notes and coin should gradually dis
appear, and that any attempt by con
traction of its currency, or 10y. other
means looking to an enforcement by Law
of this growth, was unwlse and unstates
manlike. That q better plan would be
for the government to issue a bond at q
1o.., r.%n - ~ toraof n w Uhiph tho Urppn
back might be invested at the will OF the
holder. and the government, thus becom
Ing borrower ut q low rate OF interest
would tend to relieve the productive
ness OF the country from the burden ol
the enormous rate Of interest, varying
from the bank rate OF Z per cent in the
moneyed centres to "a per cent in the
South and West. Without any actor
on the part Of Congress to func
the .greenback, IN September, 1873
the difference between gold and green
backs was reduced by the natural laws
OF trade to ten per cent. Then came d
financial crash, which was inevitable
when the average interest doubled every
mans debt, often In five, and not to ex
ceed eight years. BY this financial dis
aster- the premium on gold was still
further reduced to six per cent" From
this he draws the conclusion that, as the
country seems TO nave SuHereu all the
evils that we can suffer in attempting
the resumption Of specie by law. the ex
pertinent must be tried. Nothing couid
now be more futile than after all thi!
suffering and loss to change our policy
and not to try this financial measure
which has been favored by almost every
banker and so-called financier In thu
country. II even only the result be tt
convince them Of their mistake" Ii
conclusion he processes faith in Hayes
and Wheeler, saying that the platform.
and letters Of acceptance are so nearl!
identical as to leave only choice 0
men.
Lord Chesterfield 0utdOne.
Chesterfield and Voltaire, born in th'
same year, u69Q, were lifelong friends
Whatever may have been the errati'
Frenchman's vagaries and miffs, for h'
4 R..s- Il III Il x~A