The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1878-03-08
GREENBACKS VS.. GOLD.
spicy Colloquy I'm Congress between Me ssrs.
Chittenden and Butler.
[Fom tho House Proceedlngs.

Chittenden and Butler.
tFom the House Proceedlngs.l
Before Mr.. Butler had taken his seat,
Mr.. Chittenden rose to ask him some
questions. Chittenden's first question
was, What would become of the poor
men and women who owned $500, 900,
600 of savings-bank deposits when the
United States bonds were returned from
Europe. and when their price fell, as
Butler desired them to fall, to 80 per
cent. of their par valueY
MIR. Butler-Tbis Will be what will
happen them: They will be just where
they are now, with their deposits not III
6-per-cent. bonds, but in tumble-down
real estate in New York that is not worth
10 cents on the dollar when the taxes are
paid.
Mr.. Chittenden-Does the gentleman
mean by that that every savings bank III
Massachusetts and New York will be
bankrupted?
Mr.. Butler-They are, 30 far as the
United States bonds are concerned,
bankrupt to-day. They have not got
them, they sold them
Mr.. Chittenden-That is not an an
swer. Does the gentleman mean that all
the savings banks of New York and
Massachusetts will be and ought to be
bankrupted by the return of these
bonds?
M. Butler-Thov will he, hit oucht
not to be, bankrupt. they will be bank
rupt because the value of their securi-
ties in real estate, in railroads, and in
everything else but Government bonds
has been sunk three times by their in
fernal lust for gold.
Mr.. Chittenden (excitedly)-I wish to
hold the gentleman to the point.
Mr.. Butler-Well, am content.
Mr.. Chittenden with his voice at the
highest pitch)-If you, as an advocate
of the unlimited RECOMMENDATION of sill
yer, force back on this country the many
hundred millions of bonds now held in
Germany, and thereby break down
every savings bank in Massachusetts, and
New York, who will be responsible
Will not you be fairly entitled to be hung
to lamp-post where you desired the
Secretary of the Treasury to be hung?
Mr.. Butlel-I will take my chances
with the rest when the lamp-posts come
round. 1 have no fear ON that subject.
But it will not be the return of bonds
that will break the savings banks, be-
cause they are breaking; they are rot
fen, and are sinking.
Mr.. Chittenden without waiting for
Mr.. Butler to come to stop)-I know
a savings bank that has $4,000, 900 of
Government bonds, and if it shall be
obliged to take 100000 for them it
will be ruined, and its 20, 900 depositors
with 1.-THE poor people for whom you
profess to speak-the laboring men and
women. There are 10000 of them de-
positors in that one bank, and they will
be sent to beggary forever.
Mr.. Butler-And the directors should
be hung to lamp-post and roasted after
ward.
Mr.. Chittenden-I am no joker.
Mr.. Butler-I know that.
Mr.. Chittenden-I believe that the
gentleman from Massachusetts has mo-
ments of seriousness, and now 1 wish to
appeal to his possibly serious temper.
Mr.. Butler-I never was In q better
temper in my life.
Mr.. Chittenden-I wish TO ask the
gentleman if he thinks that there will
be any more prosperity in this country,
prosperity to the laborer, to the farmer,
to the man who works in the blacksmith
shop, i'll the shoe shop, until confidence
is restored to capital? Will your ever
lasting, irredeemable, miserable green
backs restore that confidence?
Mr.. Butler-If the prosperity OF this
country depends upon the 2 per cent.
difference between gold and greenbacks,
God help the country.
Mr.. Chittenden Now come right
down to the work, my friend. If you
have house to build or horse TO buy
you know what practical business is [
ask you to come up to the work. You
have spoken disrespectfully here OF
bankers and brokers. Out of the 900
members of this house $50 are lawyers.
Mr.. Butler (parentL ct ,cally)--I wish
fifty were.
Mr.. Chittenden-Now / ask you to
doff your gown and tell me whether,
without confidence to capital, you can
restore prosperity to this country?
Mr.. Butler-I should q great deal
rather have better basis of prosperity
to this country than the confidence
which has been go fully bestowed on
capitalists that the country is ruined.
Mr.. Chittenden-Then you think that
the basis of eternal miserable green
backs is better?
Mr.. Butler-Yes, but not quite eter-
nal. say again. and want you to un-
derstand, that / look upon greenbacks
Chased on the strength, the power and
wealth of the country as great deal
better basis than any one product of the
country, whether wheat, corn, gold, sill
yer or confidence.
Tight Boots.
L had ON new shoes. They were num-