The daily gazette., 1877-12-24
General Buffers Bricks.
The Long Reserved Missiles in the
fir at Last.
SHES AT EVERYTHING AND
EVERYBODY.
Beneficial Effects to Follop the Remoneti-
zation Of SiiUer-The Tariff
BosroN, Dec. %.

General Butler has at length emptied
his hat of those bricks which he has
been holding back so long. The occa-
sion which furnished him the opportu-
nifty of hurting the missiles was the regu-
lar weekly dinner of the Middlesex Club
at the Parker House, where were pres
ent ex>Secretary Boutwell,, Collector
Simmons and other politicians of less
renown. Upon being introduced the
distinguished Essex statesman did not
dwell for an instant on the social plea>
sures OF the occasion, but proceeded at
once TO discuss the Tariff and Silver
Bills; then in turn the policy of Presi
dent Hayes, which he considers an entire
failure unless he embraces either the re-
publicans or democrats and reorganizes
his Cabinet before 1st of February.
TARIFF AND FINANCES.
The Tariff bill he did not speak on at
length. simply remarking that it was a
very important question to Massachu-
setts, and he thought that the legislation
which would amount to expansion. He
said he believed the Silver bill would
become law of the land in sixty days
expressing the opinion that if the Prisi-
dent vetoed it-and he did not think he
\ would-it would be passed over his
veto.
Hayes Objections to the Bland Bill
The President, he says, objects to the
Bland bill on account of the free coinage
clause, the unlimited legal tender char
acteristics, and because it is violation
of the public faith to pay creditors of the
government, either the principal or inter-
est of their bonds, in silver. In regard
to unlimited coinage and the danger OF
flooding the country with silver we need
not fear that, because we cannot issue
more that $2,000,000 per month, or about
$25, ,000, 900 year, and that would be a
mere drop in the bucket. 1t is claimed
to be legislation in favor of the silver
industry of Lhe country, but do not
know why we should object to it because
1t benefits the silver or any other special
1 industry, if it also benefits the whole
country at the same time. If as legal
tender silver was limited to 800, it
would be discrimination in favor of the
capitalist, because the poor man in the
! payment of his small debts might be
obliged to receive the deprecated cur
rency, silver, while the rich man in the
payment of his debts could claim gold,
which is worth considerable percentage
over silver. l claim that what is good
enough for the poor man is good enough
for the rich man, and what is enjoyed by
| The rich man in this respect should be
enjoyed by the poor man.
EFFECT OF PASSING THE SILVER BILL,
Passing the Silver bill will be only to
bring the government back to the stand
ard which had always been known from
the beginning of the government up to
1873. Silver, as a standard, was not de-
monetized until 1873, and in 1867 and 1868
1, as a lawyer, found that the statutes of
the United States permitted payments of
the bonds in greenba0ks. and 1 may say
er lawyers who examined the question.
oBLIGATl oNs OF TnB GOVERNMENT.
The General said that in regard to the
moral obligation of the government to
pay gold (since otherwise all bonds would
be depfeciated) the other property of the
country, except bonds and evidences of
indebtedness, has deprecated on the
average about thlrty,three per cent.
lower If you owned house worth
$100, 900, and it was mortgaged for $780,
600, 1t is now worth 500, 900 or $4,000, but
the mortgage is still $4,000. The bonds
have not deprecated at all, and since
the other property has deprecated why
should not the bondholders and creditors
come in and bear a small part of the gen.
eral depreciation If your property has
decreased thirty-three per cent. why can
not the creditors stand a depreciation of
less than ten per cent? / don't believe
that this depreciation will take place.
almost wish IL might in order that we
could get at something like an average
of these losses. believe that a. soon as
silver becomes legal tender three per
cent. of the difference will at once disap-
pear, and in three months time am con-
fident the other five per cent. will dis
appear, and silver will be as good as
and both be equalized to
gold in value.