The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-01-06
STANLEY MATTHEW'S.
VIEWS OF THE PRESIDENTS "CONFg-
DENTAL ADVISOR ON THE SIT
UATION.
The decentralization Of silver Prime
Necessity-He VIII Vote to Pass 1t Over
a Veto.
[CincIanati Enuuirer.l

"Senator Matthews. / believe" This with Il
sort of half interrogation, half exclamation
point after it.
"Wei. Senator. as tho silver question lies
nearest the heart Of the peOpe, suppose we be-
gin our intervieN with that, What do you think
"Well. think that the silver reconciliation
scheme should become % law and will, here
think, ana am satisfied. think the Bland bill
will pass. perhaps in its present form. some
favor the Allison amendment which provides
that over s4.O0D.0oo be coined in a single month ;
but d n think that makes much difference
| AS the capacity of our mints doesn't run so hgn
as that any way; | think there is no doubt OF
ent form"
But won't the President veto it?"
LAS 10 that cannot say | have m opinion
on the subject. but it is not based upon any in
formation from he President himself, but only
upon general informat on and general ideas.
ton of silver, but tunt he will feel that the letter
of the Secretary Of the Treasury relative to the
payment of tpe per cent bonds in gold will re-
auire him in good faith. and as the Executive
OF the government, to veto 1t, although he per-
sonay favors the remonstzaton OF slver.'
But couldn't that point be avoided in some
Yes there might he an amendment to the bill
authorizing the Secretary Of the Treasury to
pay the interest on these particular bonds in
gold. If 1t were at q premium, or there might be
an Independent section added to tbs bill au-
tilorizng the issuance OF new per cent bonds.
amount Of the other higher bonds now out
standing. Perhaps by some such means u veto
might be avoided"
BIT, is this view of Secretary Sherman's let
ter u general one, and will It prevent "a vote for
the liver bin in it's present form?'
NO. l think not The President. you see.
occupies a delicate position as the head OF the
government the chief treasury officer Of which
has written this letter. l don't mys II regard
Shermans letter as binding. and shall y,te for
the bill, and shall vote to pass it over the Veto
III 1t Is vetoed"
And d, You think, it will carry over q veto p
That / can hardly decide. There may be-
strength enough to pass II In this way"
And now as to RESUMPTION p
We'll. there is 2 general belief that resump-
ton in 1879 without reconciliation of silver
would be difficult and would bring financial dis
tress. In fa.t. we see the effect of this proposed
policy now"
You think. then, that the present financial
distress Is attributable to tn Is intended resump-
ton In 1879 and the refusal to remoneize sill
yer2'
Il think Mt least portion of the present dis
tress is caused by this. Th creditor portion of
this community, backed by the Eastern press
are trusting to god, remington in 1879 and 10
laid the golden egg"
But do you think we could resume In 1879 If
silver were remonetized2"
My plan is to make the greenbaek equal
with gold and silver by limiting the issue to
gold or silver on demand. the Secretary of the
Treasury to keep on hand oo.ooo,ooo In coin,
gathered from the, surplus of revenues. and
other sources with which to redeem this in
debtednrss. Should this amount be reduced to
$500 900. then he should issue in exchange for
the greenbacks. instead Of coin. IA per cent
bond, resum ing again when the 100000, 900
were attained This .greenbaeks would mako
receivable for everything except the principal
and interest of the public debt now payable it.
is alleged, in gold This I b lieve would bring
about the end desired by resumptionists, as 1t
would make gold. or its absolute equivalent
plentiful, and would save us from the ruin
which the present state of the finances, coupled
with o her causes, is bringing"
Then you can b. SGT down rs not In accord
with Secretary Sherman's financial policy?"
Yon can draw your own conclusions as to
that. have said"
DO you look for a long session of Congress-
them
Yes. i presume 1t will last until the first Of
August"
How much working Republican majority do
You count on in the Senator"
The Senator laughed. 1T is pretty hard to
tell" he said. II Conover and Patterson are
to be relied on, and | think they are. and Sha-
ron is on hand. there will be almajority of two"
But next year?'
The Senate WILL think, be Democratic, but
the House probably Republican"