The daily gazette., 1878-08-22
General Butler Again Speaks

NEW HAVEN, or, Aug, 20.-Gensral
butier spoke nearly two hours to about
1000 people here tonight. He SAID:
Citizens Of fConnecticnt.-Your appear
auce here ID evidence of your interest in
the subject. l propose to speak on the
questions or finance and industry ,alway s
inseparably connected when a country is
prosperous and always when 1t is in ad-
versity, and first in behalf of our legal
tender notes, which fought our battles in
the war and gave US prosperity in peace
until interfered with by the charlatans OF
nnance; ofthe greenback, which il the
equivalent Of the blood of your sons.
brothers and farthers. | speak for the
currency, which the eountry's universal
voices has said is good enough TO pay
pensions, but not good enough to pay the
6ondholders' and capitalists interest. All
ask in currency and government is an
equality of rights, burdens and privileges
aud powers. When cur country began to
feel the effects of the war, capital hid it.
self, banks suspended specie payment,
and specie was locked up or converted to
exchange on England. When the soldiers
wanted pay the Government issued $16,-
100000 of legal tender notes, receivable
for all debts, public or private, and con-
yertible into bonds. These were never
less than par, though fnanciers who
want to make the rich richer and the
poor poorer, say they can't be kept at
par. But when our credit began to be-
doubted and the struggle was the great
est they were at par, be cause the Govern
mont did not dIshonor them. Time pass
cd on aud more were wanted. In Februa-
ry 1862, the House passed bill issuing
more, but Wall street went to the Senate
and said, No; these must be fundable in
bonds whose interest is payable in gold.
We had half million soldiers the con-
tract with whom it was thus proposed to
violate, That glorious old patriot, Thad-
deus Stevens, fought against this In the
conference committee for weeks, and
against the provision that the greenback
should not be received for duties, and
that portion of the customs revenue
should be pledged to redeem bonds into
which the capitalists should fund green
backs.
When he failed he came out of the
room with tears streaming down his
cheeks saying, "Oh what a curse uuon
my country. ] have agreed for paper
for one class and gold cur
rency for another" He foresaw, as L
did, what would come. The greenbacks
went down until 50 cents in gold would
buy dollar and then they were funded
In be n Is fer VIII. ch six per cent, interest
IN gOlu would be pad upon 30 cents as
fit was one dollar. Continental money
never did us any harm, but did good.
it the battles Of the revolution
would never have been fought. True,it
went down, but SO was the wars cost dis
tributed among the people of all classes.
Our fathers knew enough to let 1t go out
Of sight after it got down to 80, but the
Shylocks of our day, when it got to 80,
put 1t into bonds at par, with interest in
gold, and then, after the war, passed a
law that the bonds should be paid, prin-
cipal and interts st, in gold or silver. Last
year the capitalist refused to take silver
for what For intei est on u $1,000 bond
that cost him only $3.50, and on which he
had already received $40 in interest [al-
plause and then in 1869 the bond was
made worth more than gold, so that he
has $40, $1,000 ON which our children's
children must pay him interest, all of
which cost him only $3.50. These are
the exact result of the law. In 1869 in
Congress l denounced that law which
made the bonds payable IN gold as
swindle. l sad then what | say now,
This crippled and handicapped greenback
has done well. Congress said it must
keep its contract with the bondholders.
I said, keep your contract with your
million of soldiers: but the soldiers had
few Representatives, and the bondholders
many. l introduced resolution seven
years ago that one-third of duties should
be paid in greenbacks, but 1 was beaten
by sixty bank presidents and directors