The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1877-08-03
We've OF aeneraI G,araeId.

OlANIS ~ ALL OFlOs - vi 1Os-L ne
Gazette will publish tomorrow an
extended report of an interview
with Gcn.Garfield. He wss found at
his farm in Lake county. where he
has lived in retirement since the
adjournment of Congress, and talk
ed freely upon topics that are en-
gaging the attention of Ohio Re-
publicans.
"The paper money fsllacy, said
he, "re-appears with perfect regu-
laritY under all forms of govern
ment, and nearly always follows
the process of development. In
Ohio we have fought through the
first stages ard must go on. Ten
years ago we started in this State
with PendletonisD, to pay the
bonds in greenbscks. The idea
took and the Initiation wave swept
the State. The Republicans got
frightened and let down their plat
form a little. They got beat, OF
course they ALWAYS do when they
lower their standard. FThe next
year we got down to basis princi-
Piles, put sound financial plank in
the platform, and beat them. That
settled Pendietonism but we drove
the nail through to the Coin act of
1869, and clinched it. But nothing
is settled in this country as long as
we haye iFredeemabie paper. The
Democracy without a blush turned
back on their record of several
years, and instead of Pendletonism,
we had Bill Allen1sm. But as an
educator the campaign of 1875 was
the best we ever had. Before il
was over everybody understood
just what we meant, and with that
understanding the people sustained
US. Now, cannot believe that all
that education was thrown away.
1 do insist that the people are sound
on the subject, and there should be
no letting down on our part. l am
not strenuous for q specific day.
Let US move on as fast as possible
toward a specie basis, and if when
the day draws near we are not pre-
pared, we can DO as other debtors
do-take short 8xtensions-but lei
there be no step backward. Put the
plain facts before the people and
the popular common sense will de-
eide for us.
Csrrespondent-There is, how
ever, great dread of contraction.
Gen. Garfield-It is because the
people think an early settlement
of the question would derange pri-
ces; but that evil. came long ago.
Prices fell to q coin basis as the pam
ic took effect. Resumption would
bring certainty into business trans
actions, which would more than
counterbalance all possible dissd-
vantages resulting from coin basis
at an early day. 1t is uncertainty
that kills. There will be no GER
tainty till the question is settled
right.
Gen. Garfield reviewed the histo-
ry of other panics, and arrived at
the conclusion that the worst of the
present trouble is past. Said he
" The four years are drawing near
q close, and / see abundant evidence
that the upbuilding has commenced.
The agricultural interest is very
prosperous; farmers all through
our section are better fixed than ev-
er before. It's the same every where.
Farmers pay up their taxes and eY-
erything else more promptly than
ever before in Ohio. l am surpris-
ed at the reports l get from manu-
facturers that deal in agricul tural
implements. They have sold out
their entire stock on hand for cash,
and do a bigger cash business than
ever before. But when you come
to railroads and iron, that interest
will necessarily lag behind others.
Farmers are first out. and all others
must follow in due time. Now, it
strikes me that, with the great ag-
ricultural population of Ohio al
ready on better ground, and with
the positive certainty that resump-
ton will not injure tie farmers an
iota, it is poor time to lower our
standard and scare the weak breth-
rem by promising them a long peri
cd of uncertainty. AS to silver
money, Gen. Garfield said he had
no objection to Judge Vests prop
osItion to have S50,000,0O0 issued,
and take more time to consider it..
"This," said he, sis the French sys-
tenn. / am inclined to think with
Mr.. Halstead. that if the CONNER
cial nations retained silver it would
maintain its relation to gold. But
as matter of fact, they don't re-
tain it, and if we adopt unlimited
coinage, we simply agree to take all
the silver which all the rest of the
world is throwing out. There is
no help for it as things now stand.
If the silver dollar were tender
equal with gold, the surplus from
France, Italy, Switzerland, and Bel
GUM, and all that of Germany and
England, not needed tor subsidiary
coinage, would be marketed here.
1t seems to me impossible to main
tain its ratio to gold under such
circumstances.