The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1878-03-05
BEN. BUTLER'S BRICKS
Heaved at the Gold Ring.

Heaved at the Gold Ring.
He Would Hang sherman to the
Nearest Lamp Post, and Have
an american System of
Finance"
wAsH1xGroN, Feb. 26.-The House
went into Committee of the Whole on
che State of the Union, with Mr.. Eden
in the Chair, and Mr.. Butler proceeded,
to make his speech.
Mr. Butler declared himself for the re-
storation OF silver to the coinage OF the
country, and every debt Of the United
States nov existing which could be paid
by the silver dollar now proposed was
By the very terms of the law under which
the debt was contracted to be paid by
silver dollars of the same weight and
fneness. In regard to the point of dis.
honesty toward public and private cred.
itors, he asked if it was immoral, dishon-
est or wrong that the debtor shall pay
back all be received, with interest, in the
discharge of money debt The same
money which pays the poor mans debt
should equally cancel the rich mans de
mand Both should stand before the law
alike, and right and justice be done at
the hands of Congress, in spite of Exc
cutive recommendations or Executive
power, whether in the shape Of veto or
otherwise. He denied that S60,000,000
in bonds, or anything like that amount,
had been returned from Europe, but
wished for the financial and business
of the country that it were
true. Hewished that Europe would send
back every bond of ours it holds, and
the lower prices at which they sell here
the better. II he could hear OF our 6
per cent bonds coming back at fifty cents
on the dollar, to be exchanged for our
merchandise, our gold or our silver, he
should look upon 1t as the brightest and
happiest financial fact The country ever
knew. He wanted to see both silver and
wheat sent abroad to pay our debts and
bring the balance Of trade in our favor.
He saw neither wisdom nor statesman.
ship in locking our silver up in vaults
He reprobsted the withdrawal>of paper
fractional currency and the substitution
for 1t Of subsidiary silver coin, saying
the people we're to be taxed an enormous
sum, represented by Eve per cent at COM
pound interest, on $50, ,000, 600 for 30
years, and that il the Secretary of the
Treasury, who framed the measure, chad
ever sat down and calculated, and then
foolishly cast that enormous burden on
the people he should be hanged to the
nearest lamp.post for malice toward all
mankind, and II be had not done SO he
ought to be hanged,a at all events, for ge.-
ting into an office he could not Gil. Mr..
Butler concluded as follows: We want
the greenback for our currency and mean
to have 1t; but / do not desire that a
greenback currency should be made to
serve the country as it has .villified.
insulted, deprecated, by act of the Gov
ernment itself, being refused not only 10
be received for all debts due the Govern
ment, not even paid for all the demands
due from the Government. The "Amer.
ican system Of finance" which will OBJ
tain in the near future. and l hope at
once, is what l desire:
First-A dollar that shall, have at all
times a certaih fixed and stabie salue be,
low which it cannot go.
Seeond-I demand that dollar shall
be issued by the government alone in the
exercise of its high prcrogative and Con-
stitutional power, aDd that that power
not be delegated to aEy corporstion or
Individual any more than Charles IL
ought to have delegated his prerogative
Of stamping gold coin for the benefit OF
his paramours as monopoly.
Third-I want that dollar stamped on
the same convenient and cheap material
Of the least possible intrinsic value, 80
that neither its wear nor its destruction
will be any loss to the government issu.
ing it
FOURTH also desire the dollar to be
made OF such material that it may never
be exported or be desirable to carry out
Of the country. Framing an American
system Of finance, / do not propose to
adapt it to the wants of any other ma,
tion, especially the Chinese, who are one
anarter Of the world.
Fifth desire that the dollar issued
shall never be redeemed. Isee no more
reason why the unit of the measure OF
value shall be redeemed or redeemabIe
than that the yard-stick with which /
measure my cloth should be redeemed.
Sixth For convenience only I propose
that the dollar 80 issued shall be quite
equal or little better than the value of
the average gold dollar of the world, not
to be changed or changeable. II the gold
dollar grows lower in value or grows
higher, it is not obliged to conform it.
self in value in any regard TO the dollar
of any other nation of the world, keep
ing itself always stable and fixed, so that
when all property of the country adjusts
itself to it as a measure Of value, it shall
remain afxed standard ofvalue forever /;
but if it is ever changed it shall change
equally and alike for the creditor and
debtor, not as dollar based upon sup.
posed gold whose changes always have
given the creditor the advantage.