The Portland daily press., 1878-11-19
POSSIBLE GOVERNORS.
The Democratic and Greenback Cxndi.
dates Interviewed.

Reporters Of the Lewiston Journal have IL
terviewed Messrs. Garcelon and Smith, the
Democratic and Greenback candidates for
Governor, with the special object of ascertain
ing their opinions on finance. Both gentlemen
were accommodatingly communicative. DR..
Garcelon's position is substantially defined
thus:
While think it might be we'll for govern
ment to issue currency redeemable in coin OF
full value, am not opposed to National Banks
under certain restrictions. Our National Bank
system is great improvement over the old
State Bark system. Indeed, should rather
prefer National Bank currency to limited
amount. l want no United States Bank. My
objection to the present National Bank system
is that we are giving interest on their banking
capital aud then letting them have interest on
the same amount Of capital. think we have
too much currency now. believe that with
gold and silver again in circulation, the present
greeuback currency will be nearly enough for
the business of the country. Gold and silver
have been articles of merchandise in this coun-
try for years. On resumption they will come
forward as currency, and it seems to me that
it is obvious We now have too much currency.
IL the old specie time we never had anything
like the amount of circulating medium that
we now have. | am in favor of greenback,
gold redemption currency. but think four
hundred millions is enough. think the gov
erument ought to issue paper notes, promise to
redeem on demand in gold and then redeem.
He does not believe Resumption can be main
tanned with the Bland silver dollar. and calls
that dollar freud. Hs says it would be down.
right robbery to pay the bonds 10 deprecated
money, and scouts the idea that making notes
receivable for duties would cause them to be
equal 10 value with gold. The hard times, he
says are not attributable to want of money,
but to too much poor money. He doesn't be-
lieve in extravaganza in state affairs nor being
niggardly, and says "We must support our
public institutions. "sFinally, he doesn't know
what business the Greenback and Democratic
sGate committees have to settle the duties of the
Republican committees entered into such an
arrangement he would have called it ''if not
trading, iockeying.'
Mr.. Joseph L. Smith was Of the opinion that
the volume of the currency has been contracted
too fast. 'But now that we have realized all
the disadvantages of contraction" continued
he, "now that our property has shrunk all il
Can snriuk in value, for. one am.not in favor
of retracing our steps in order to endure all the
misery over again. 1t has all got to come to
the gold value at last; if we now get away from
it-when we have just reached tive shall
have to come ,ck TO it again sooner or later.
l think we had better stay.
Then you do not favor the repeal of the re-
sumption act? was asked
''That amounts to bat little, anyway" said
he. eve can redeem because nobody wants
the coin; they prefer the paper; it is more con-
venient. But if people wanted to exchange for
coin, the government would then have to re-
fose to redeem, because it is practically impos-
sible to accomplish it, and put out coin for the
outstanding notes."
As a man with some property at stake, as
well as the same general interest in the public
welfare which all good citizens have, be was
opposed to any scheme of currency which
could not have gold value somewhere behind
it. But he thought our legislation had been
too much in the interests Of the banks and
money lenders. They had had control of Leg
islation and had used it for tLeir own advan-
tage He thought the government should is.
sue all the notes which the business of the
country needs, and with the proceeds take M
the bonds, the six per cents, and save the in
terest, and not let the banks have the privilege
for the sake Of the miserable pittance of tax
they paid for 1t.
Mr.. Smith had much to say about economy,
and thought desire to break up old rings and
do away with extravaganza was the real cause
of the large Greenback vote. 'A change as to
currency was really only a secondary matter"
AAuSs No Cus uCWu. 1uor6 Is n3rUly
department where considerable saving is not
possible. The salaries of teachers must be cut
down. The State College at Orono is an un-
necessary source of expence and must BE- done
away with. The offices of Bank Examiner and
Insurance Commissioner afford the people a
little protection at great expense; but he
would not pronounce them wholly und. sirable.
Annual sessions of the Legislature should be
done away WITH
He spoke Of the election outrages at the
South and said some means should be devised
by the general government to punish these out
RACES and gross violations of the laws of the
United States-that blood and treasure should
be spent to protect citizsn at home as we'll as
abroad, and if we have not power to punish,
power should be given or taken. 1t is not we'll
to rest easy under such enormties. DR.. Garce-
Ion, on the contrary, thought the election in
South Carolina was generally fair. He has "a
bsttsr opinion of human nature" than to take
any stock in the cipher dispatches"