The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-01-22
FROM OUR REGULAR CORRESPONDENT.

THE SENTIMENTS AND BEST INTERESTS OF
THE SOUTHERN PEOPLE.
The silver men have counted Senator Butler OF
South Carolina, among their number but the follow
ing statements. made In an interview which he
granted to tho HERALD correspo ndent. show that
they are mistaken and that General Butler sound
on this question. His views practical and
sibe and based upon comprehension Of the needs
Of his own people Senator Butler was .asked:-
@ II is understood that you OF the opinion that
the passage OF the Bland Silver bill Mould be dis
astrous TO the real interests OF the South, and as
illustrative OF this would have the Immediate effect OF
raising tho price Of the prime life with
YOU
A. Yes, thnt's my apprehension. It is a fact that
the price OF bacon and other articles Sspry for
subsistence cheaper when | left home few
weeks ago than have known them, and could
buy bacon for The tenants 90 my plantation In
tho city OF Augusta, Ga, at SIX and three.
quarter cents and SO Of oner prime articles.
Now this may be considered Z small circum-
stance, but u is suggestive OF the tines The low price
of these articles must have been the result to
extent o. the present financial CIRCUMSTANCES OF tho
country, ami my fear that II tho Silver bill should
be passed. and legislation germane to it, and spec
ula;vc condition Of business be crcatsd thereby that
every crossroads store In tho country will mako
In bacon, and the and producer will DO
the losers and the spectators the gamers. Now,
this appears to be small matter. but II rs illus
tratvo OF the whole question. Tho advocates OF the
Silver bill insist that The silver dollar is tho dollar OF
tho people, but unfortunately they do not Say how
the people get Il. Tho people do own Nlvcr
mines, al Of them, and II they get silver they
work for II, just thOy do for other money. The
trouble IN the couutry Is not so much scarcity Of
money u scarcity Of confidence; does the pres
eat strngency OF tho times result from
ar er.0On I'M nj linn I'm war IF
hdcnce. Will mention one other circumstance to
provo that the present financial mama ment OF tho
government and the prospective resump on Of specie
payments with the demonstration OF silver, Is the
best for The legitimate business interests OF coun-
try. Last fall, whom the merchants from my lt,le
town OF Edge6old won't 10 Now York to
purchase goods they all came back in good
spirits at the improved prospects Of business
by the restoration Of confidence, brought about no
doubt, by the stable and permanent financial policy
and tho conservative course adopted by the present
national administration, together with tho improve
ment In State government. They all felt hopeful
and Buoyant about the future and appeared be
deavoring TO rebuild their business upon the faith of
the then condition OF finances. Now, think 1t
would DO wrong to disturb condition things by
this legislation, which am would be the result
OF it Tho 1sborinR and consuming classes OF the
country. and also tho producing classes require for
stable, Notwithstanding. permanent unit OF value,
which only DO found in q single standard. This
regard as absolutely necessary to q healthtul cond
lion OF our finances.
O. From the best Information you have been ablo to
ge,, what Is the feeling Of your people this sub.
Ject?
A. Tho feeling among tho masses is comparatively
OF inderence-that Ia say, the matter has not
been discussed very generally among them. They
havc been engrossed by the Ills which have been
put upon them by bad and corrupt local governments
until the Inauguration Of tho present administrator
that they havo had ncithcr tho time the inclina
ten 70 consider national questions am quito we'll
satisfied, however froWths expression OF opinion by
leading business sd financial men from different
parts OF the State that tney are opposed revving
the difficulties OF our past financial experience, as
am this bill Would do.
In this connection allow to say that the people
Of tho South have disposition sustain any move.
mcnt which even appears TO impair Tho national
credit. They regard this common government
whose good faith aud justice to themselves and to
tho common credit they repose confidence, and can
not SEQ tho force Of tho argument. either In law or
morals OF Tho advocates OF the Silver bill when they
say that tho holders Of the government securities
should. because they purchased thcm at discount
mt o time whom tho exigcncics of the govern
ment required them 10 DO pus upon the
market, DO called upon to receive less than
their lace value any moro than could the forco
OF claim that private individual whose exigen-
cies required him TO put out his ''promise to pay"
Tor gwen which he receives should then ask an
innocent holder for valuable consideration to sur
render that promise TO pay At less than It's face
value because that innocent holder may have. pro.
cured 1t at q discount.
q. What do you regard as tho best way Of solving
the financial difficulties and relieving tho country
from it's present strngcncy?
A. l think that one thing to be done is to repeal
that provision Of the National Bank &C. which I'm.
poses tax Of ten per State and thereby
practically drives them Of business The country
Is not suffering much from q scarcity
Of money as from ap improper dstribu.
ton of tho money. Tho national banks were
established war measure IN order to
enable government to place It's bonds and control
tho money OF tho country. That necessity longer
exists and the re-ostabshment OF State banks under
proper restrictions BY the State governmon would
furnish currency TO the people which would supply
their wants Tho trouble now that tho money Of
the country is confined to commercial contres aud
cannot DO procured by the body Of the people
except upon collaterals which they do not own Tho
monsy moves In certain currents commercial con.
tros aud increase OF tho volume Of the currency
under the pressnr system would only swell those
currents without distributing It ovor tho country
Q. great many Of tho fallacics concerning the
Silver bill come from the West and u is sought TO
make the South believe that is for their interest
accept them and DO Of tho Same opinion in order to
show q strong front In unison with the West. How
docs this strike your
A. or course am 10 familiar with the wants OF
the West It's dIflcultics. and IL might Ike pre-
sumption me express opinion In reference to
IT, But in my Judgment tho West does not SO much
need money she docs cheap transportation to
the coast: she Is burning corn for fuel, while
thousanls Of people suffering for food tho same
continent. Cheap lines of transportation will solve
the grea,est OF her difficulties
z. As southern man what is your idca OF tho re-
mouetization OF silver-not making II payable for |
debt interest, or customs duesY
A 1 should u ahinct q aGr. L