Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1877-08-31
NJ. RnInner,a Views.

WI EHa4AGEa uAeN9s
M Y. ~rREAsURER's OPINION CT TIE
PREsIDERT's SOUTHERN PoLICY-RE
FAYORs Nh. EILLY's ISTBRCoNvERTI.
BILE CURRENCY BONDS.
WAsuIHaroN, August 30-Ex-Treas-
ureF Spinner, who has been visiting
Washington, has been interviewed BY .
Sunday Herald reporter. HIS remarks
on current political topics are said 10
have been substantially as follows:
"Civil Service has some features 10
recommend II, bat | do not like it. /
.c.l Messrs. Mccormick and McPher-
son, happening 10 meet them both to-
gother, that Il is q humbug. They
smiled and said nothing. The truth
OF The matter IL, | find myaelf pretty
much out OF sympathy with the new
order Of things generally. We are not
in lbe midst Of lhe millennium and IN.
iii we are, the attempt TO diysst Office,
holders Of personal interest In political
matters-in party machinery generally,
10 nonsense. The Southern policy Of
the President. 10 not hard TO understand,
aud Il is Q task of less difficulty to com.
prehend lie results. What have Dem
o:rats S. such, 10 do with q Republi.
:an Administration Inviting them
TO accept office is about ss strange as
Il would be for the Methodists 10 ap.
poin! class.leaders from the ranks Of
Uuiia:iauF. \ victorious army v0lan.
tarily surTsnderiDg itself prisoners Of
wa- would very much resemble the
actions Of the President.
The financial question Is in reality
no. 50 difficult SIS many suppose.
was brought up q bullion Democrat
and AN quite willing there should be &
metallic currency for those who wish
one; hot l think paper 10 best. VIM
D. Kelly has the true Idea, though II IL
not original with him. A metallic cur.
rency Is wanting in elasticity. A
times IN expansion Of the circulating
medium is necessary for the purpose o
crops, transportation, etc. What We
want is an issue Of legal tender notes
convertible a. any lime into an inter
est-bearing stock OF the United Slatel
"A stock for which the holder could
get currency with accrued in'eres
whenever he should desire. At q rate
OF !nteres. no higher than 365 pei
cent. the desired amount Of circulation
would be absorbed when not used fol
Commercial. purposes, and the bonds
would ba converted when the business
Of the country required a large amour
Of currency. Such currency would sooI
be On q par with gold, ANA it would BE-
the parent Of a new prosperity and o
Ia new era Of patriotism. Tht
present plan OF resumption will have
no other effect than 10 Cypress lhC
people and cripple The energies Of Gov,
eminent The power TO issue note.
should be taken from banks aud vostei
10 the Government. Without q change
10 the financial policy the worst is vel
10 be apprehended, The people viii
no! stand TOO much oppression. Grea
danger is 10 be apprehended from
collapse Of savings banks, which, q
constituted aud conducted, are for lhl
mos; part nothing but schemes 10 rol
the poor Of their Aard.earned money
The nler-converti5le bond system
would give The poor o grand OppOrtu
nifty TO provide for G lille intcrcs
money when they could, and for read.
cash when wanted. The savings bank
are rotten institutions which all poo
people should shun. Rclrenchment /
not true retrenchmCnt when Il mean
the taking away Of labor from work,
ing people. The Government has In
finite ways for employing workers. l
needs aud it ought 10 have money t.
accomplish its purposes.