The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1878-03-07
GREENBACKS VS.. GOLD.
Spicy CoIloquy in Congress Between Messrs.
Chittenden and Butler.

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 $500,000
600 Of savings-bank deposits when the
United States bonds were returned from
Europe, aud when their price fell, as
Butler desired them to fall, to so pei
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
rool estate in New York that is not worth
Is cents on the dollar when the taxes are
paid.
Mr.. Chittenden-Doest the gentleman
mean by that that every savings bank in
Massachusetts, aud New York will be
bankrupted?
Mr.. Butler They are, SO far 80 the
United States bonds are concerned,
bankrupt to-day. They have not got
them, they sold them.
Mr.. Chittenden-Th 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 to be, bankrupt. They will be bank
rupt because the value of their s@cufi
ties ia Av,tl estate, i'll TAIL 0Gve, aL,, IA
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.. Chittenden with his voice at the
highest pitch)-If you, as on advocate
of 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?
Will not you be fairly entitled to be hung
to lamp post where you desired the
Secretary of the Treasury to be hung?
Mr.. Butle1-I will take my chances
with the rest when the mp-posts come
round. [ 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
ten, and are sinking.
Mr.. Chittenden without waiting for
Mr.. Butler to come to a stop)-I know
a savings bank that has $10,0O0,000 of
Government bonds, and if it shall be
obliged to take 100000 for them it
will be ruined, and It's 10000 depositors
with 1.-THE poor people for whom you
profess to speak-the laboripg men and
women. There are 0,000 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 q lamp-post and roasted after
ward.
Mr.. Chittenden-I am no joker.
Mr.. Butler-T know that.
Mr.. Chittenden-I believe that the
gentleman from Massachusetts has mo-
ments of seriousness, and now / 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, in the shoe-shop, until confidence
is restored to capital? Will your ever
lasting, irredeemable, miserable green
backs restore that confidence?
Mr.. Butler-If the prosperity OF this
country depends 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. I
ask you to come up to the work. You
have spoken disrespectfully here of
bankers and brokers. Out Of the 900
members of this house $50 are lawyers
Mr.. Butler Internationally II wish
fifty we're.
Mr.. ChitteDden-Now ! ask you to
dof 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 so fully bestowed on
capitalists that the country is ruined.
Mr.. Chittenden-Then you think that
the basis of eternal miserable green
backs is better?
Mr.. Butler-Yes, but not quite eter-
nal. I say again. and L want you to I'M
derstand, that look upon greenbacks
(based 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.
Tight Boots.