The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1878-03-21
GREENBACKS VS.. GOLD.
Spicy Colloquy in Congress Between Messr
Chittenden and Butler.

Tom the House Proceedings.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, 0OO,-
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 so per
cent. of their par value?
Mr.. Butler-This will be what will
happen them: They Will be just where
they are now, with their deposits not in
6-per-cent. bonds, but in tumble-down
real estate in New York that is not worth
Is cents on the dollar when the taxes are
paid.
Mr.. Chittenden-Does the gentleman
mean by that that every saving oank in
Massachusetts, and New York will be
bankrupted?
Mr.. Butler-They are, SO tar 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
Mr.. Butler-They will be, but ought
not 20 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. Cbittenden with his voice at the
highest pitch)-If you, as an advocate
If the unlimited reconciliation 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 2
VIII 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. I 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
savings bank that has 100000 600 OF
Government bonds, and if it shall be
obliged to take 100000 for them it
will be ruined, and it's 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.. ButIer-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 his mo-
ments of seriousness, and now I wish to
appeal to his possibly serious temper.
Mr.. Butler-I never was in a 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-f the prosperity of this
country de ponds 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 a house to build or horse to buy
you know what practical business is ]
ask you to come up to the work. You
have spoken unexpectedly here Of
bankers and brokers. Out of the 29(
members of this house $50 are lawyers.
Mr.. Butler parenthetically)-I wish
fifty were.
Mr.. Chittenden-Now I ask you tc
| doff your gown and tell me whether,
without confidence to capital, you can
restore prosperity to this country?
Mr.. Butler-I should a 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-Theny you think that
the basis of eternal miserable green.
backs is better?
Mr.. BUTTERFLIES, but not quite eter.
nal. / say again. and want you to I'm.
derstand, that I 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.