The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1877-09-03
MR.. SPlNNER'S VIEWS.

TIE EX.TREAsURER's OPINIONS OF THE
PRESIDENTS SOUTHERN PoLICY-HE
FAyoRs NIB. KELLY's INTERCoNvERTI-
BILE CURRENCY BONDS.
WASHINGTON, August 30-Ex.Treas
urer Spinner, who has been visiting
Washington, has been interviewed by a
Sunday Herald reporter. His remarks
ON current political topics are said 10
have been substantially as follows;
civil service has some features to re
commend 1t, but do not like it. told
Nessrs. Mccormick and Mcpherson
happening, to meet them both together,
thai 1t Ii hdmbug. They smiled
and said nothing. The truth OF
the matter 10. | lind myself pretty
much cut OF sympathy with the new
order OF things generally. We are not
IN the midst Vi The millennium and un>
Ill we are, the attempt to divest office
holders Of personal interest in political
Matters-in party machinery generally,
il nonsense. The Southern policy OF
the president Is not hard TO understand
and ii is q task OF less difficulty 10 com
prehend Its results. What have Demo
Gratis a. such. to do with Republican
Standardization? Inviting them to ac'
sept oflloc is about al strange AS II would
he for Methodist to appoint class,lead'
rrs from the ranks Of Cnltarans. a
victorious army voluntarily surrender
ing itself prisoners OF war would very
much resemble the actions OF the presl.
dent.
The financial question is in reality moi
50 difficult as many suppose. i was
brought up bullion Democrat, and am
quite willing there should be metallic
currency for those who wish one; but
think paper Is best. VIM. ID. belly has
the true idea, though it is not original
with him. A metallic currency is want
ing In elasticity. At times an expansion
of the circulating medium is necessary
for the purpose OF crops, transportation.
etc. What we want Ia an issue OF legal
tender note convertible at any time into
an interest bearing stock Of the United
States-a stock for which the holder could
get currency with accrued interest
whenever he should desire. At rate OF
interest no higher than 1865 per cent. the
desired amount OF circulation would be
absorbed when not used for commercial
purposes and the bonds would be
converted when the country required a
large amount OF currency. Such
currency would soon be on par
xx,;th s.oIA o.d xun,,lJ ho ha ,,aranf ~
new prosperity and OF new era of
patriotism. The present plan OF resump.
ton win have no other effect than to OPP
press the people and cripple the energies
Of government. The power to Issue notes
should be taken from banks and vested
10 the government. Without change
in the financial policy the worst IL yet
to be apprehended. The people will
not stand too much oppression. Great
danger Is to be apprehended from,
collapse OF savings banks, which, rs
constituted and conducted, are for the
most part nothing but schemes to rob
the poor of their hard-earned money.
The inter.convertible bond system would
give the poor grand opportunity to
provide for little interest money when
they could, and for ready cash when
wanted. The savings banks are rotten
institutions which all poor people should |
khun. Retrenchment 10 not true re.
trenchment when II means the taking
away Of labor from working people. |
The government. has infinite ways Tor
employing workers. 1t needs and II |
ought to have money to accomplish its
purposes.