New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-08-27
WASHINGTON.
BfR. SPINNER'S VIEWS.
THE EMBELLISHMENTS OPINION oF TIE PRESIDENTS
SOUTHERN POITCv-HE FAvORs MR. KELLYs
INTERCONvERrIB- Il CURRENCY BONDS.

THE Fx-TGEAsURER's OPINION OF TILE PRESIDENTS
SOUTHERN POLICv-HE FAvORs MIR. KELLYs
DrERcoSvERrB-E CURRENCY BONDS.
my TELEGRAPH TO THE rRmUSE.l
WASHINGTON, Aug. 26-Ex- Treasurer Spin
ner who has been visiting Washington, has been inter
viewed by a Sunday Herald reporter. HIS remarks on
political topics SAID 10 have been substan
italy as follows: "Ciyl Service has features to
recommend 1t, but do like IT, told Messrs McCor-
mick and Mcpherson, happening TO mcet them both
together. that It is a humbug. They smiled and SAID
nothing The truth OF the matter is find myself pretty
Of sympathy With the order OF things gen
orally. We are not in the midst OF the millennium
and until we are. the attempt to dvest oncehoders OF
personal interest In political matersin party machinery
generally Is nonsense Tne Southern policy Of the Pres
ident is not hard understand and Il IS task OF less
difficulty 70 comprehend its results What have Demo-
Gratis such. do with Republican administration
Inviting them to accept Office is about strange 10 1t
would be- the MethOdss to appoint class leaders from
the ranks of theUnitarans. victorious army vonn-
tarly surrenderns itself to prisoners OF war would very
much resemble the actions OF the President
The financial question Ia in reality not 80 difficult as
many suppose. l 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
d. Kelly has the dea though it is not original with
him. A metallic currency is wanting IN elasticity Al
times an expansion OF the circulating medium Is neces
sary for purchase OF transportation etc
What we want is issue Of legal tender notes
convertible at any time into an Understanding
stock OF the United 5tates-a stock for Which
the holder could get currency with accrued
interest whenever should desire At rate OF interest
no CHER than 90 per cent the desired amount OF CHI
cuation would absorbed when not used Tor CONNER
cal purposes and bonds would be converted When
the business OF the country required large amount o
currency such currency would soon be on par Win
gold and it would DO the parent OF new prosperity Anu
Of a new era patriotism. The present plan oil resu
ton will have no other effect than 10 Cypress tue
people and cripple the energies Of Government Inc
power 20 issue notes should be taken from DahAs ah
vested in the Government. without a change III the
financial policy the worst yet TO BIO apprehended Inc
people will not stand much oppression Great dah-
ger is 70 be- apprehended from collapse OF savings DaAs'
which as and conducted. for the most part
nothing rob the poor Of their harucaieu
money Tho nter-c0nvertiblo bond system would give
the poor grand opportunity provide for little inter
est money when they could. and for ready cash wheh
wanted. The savings banks arc rotten INSTITUTIONS
winch all poor people should sAun Retrenchment Is no
true rctrenchmcnt when It means the taking away OF
labor from working people The Government has IN
finite ways for employing workers. IL needs and IL
ought to have money to accomplish It's purposes