Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1879-01-10
Gov. GarcelOn's Views.


publish it. The report of the interview is as
follows:
Reporter: at is often charged, Doctor.
that if you have hard money views, you have
succeeded remarkably well in keeping them
out of sight. Now what have you to say on
this question"
The CHARGE OF SUPPRESSION.
DIR. Garcelon: ~ know that all manner
of charges are made but affirm that in no
speech that l made did wink out of sight
my views on hard money. made but three
or four speeches in the canvass. In my Au-
burn Hall speech, l took distinct ground for
specie redemption, as you will remember"
WHAT DEMOCRACY MEANS.
Reporter: snow if there is any differ
ence between greenbackism and democracy,
I would like to have you tell the Journal
readers what it is
The Doctor: "why, if democracy don't
mean hard, constitutional money, gold and
silver redemption, then l don't know what
democracy is, and am sure that if democra-
cy is anything less than that it is untrue to
itself Much has been said about my views
on
NATIONAL BANKS.
81 do not object to National banks per se.
tages that any private individual may not
have. My firm conviction is that there
should be no paper circulating medium afoat
but such as may be redeemable in gold and
silver of full bullion value. The Bland sill
yer dollar is a fraud. 1t don't contain
enough silver to make it of full value-hence
it is lie on the face Of it. If were in
Congress l would never vote for bill that
would legislate into legal tender for one dol
lar any quantity of gold or silver that was
less than dollar in intrinsic value. l want
to see an international agreement on these
questions. To-day there comes the news that
the Comstock mines are Improbable and
per contra, another dispatch tells us of whole
mountains of silver in Nevada. Silver is so
fluctuating in value that it is difficult to fix
on the quantity that is worth dollar, but I
never would legislate that for a silver dollar
which wasn't worth but IS cents when the dol
lar was coined. 1t is neither honest nor pO-
| little to stamp as dollar what is something
less. We want the standard of currency, il
possible. as near a standard in their respec-
tive spheres as yardstick. The greenback
is not money, but it is a promise to pay the
money of the world. The greenback is a
forced loan. think the mistake was in not
making greenbaeks payable for government
duties five years ago. think that would
have FASTENED resumption.
"You say I am criticised for my views of
National Banks. Now, while / think il
might be well for government to issue a cur
rency 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 Bank
system-everybody can see that. Indeed
should rather prefer National Bank currency
to limited amount. want no United
States Bank. My objection to the present
National Bank system is that we are giving
interest on their banking capital and then
letting them have interest on the same amount
Of capital. Thus they are enabled to pay
more profits than other business. l know
they don't pay now as they did a few years
ago, but think that now they pay more than
money invested in other kinds of business.
/ think we have.
Too MUCH CURRENCY
now. believe that with gold and silver
again in circulation, the present greenback
currency will be nearly enough for the bust
ness of the country. Gold and silver have
been articles of merchandise in this country
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.
In the old specie times we never had any
thing like the amount of circulating medium
that we now have. Large quantities of money
are idle. see that a million greenbacks are
now locked up in the st. Louis banks. I am
in favor of a greenback, gold redemption
currency, but think four hundred millions
is enough. / think the government ought to
issue paper notes, promise to redeem on de-
mand in gold and then redeem. don't think
it would breed any trouble to have such an
| issue.
The GREENBACK HEREsY.
'The grcenbackers, know, claimed that
making notes receivable for duties would
cause them to be equal in value with gold,
but that is not true. The history of all
countries shows that an irredeemable currency
cannot be foisted on country without bring
ing woe. About
PAYING THE BONDS
It was no doubt a hardship to have the
bonds taken as they were and paid as they
must be- but it would be downright robbery
to pay them off in deprecated money. Now
that we have been through all the suffering
resulting from deprecated values, all dis
cussion looking to lodging our responsibility
is detrimental We all may make bad bar
gains, but we had better stick to our pledges,
at all events. l do not attribute our hard
times to want of money, but to too much poor
money. | have seen times as good on hard
money, as any greenbacker could desire.
Hard times prevail in England and through
out Europe as the result Of war. Our great
est difficulties now are from our high pro-
tective tariff. Our manufactures are thereby
overstimulated in the proportion to our mar
ket."
r, Returning to the charge that he had been
silent on specie resumption during the can
vass, the Doctor continued:
snow recall that in my Belfast speech
closed by saying that if the democratic party
was buried under an avalanche of votes, it
must adhere to specie resumption. In my
State Fair speech I urged similar views
also at Damariscotta and at Turner. l say
whether an individual or nation issues cnr-
rency, the notes are not money, but are TO be
redeemed in hard cash. don't see how we
could
/ MAINTAIN RESUMPTION
With the Bland dollar. Here is an article
from the New York World which expresses
my views, showing the dishonesty and impos-
sibility of permanently making eighty-fve
cents do duty for the one hundred l hayn't
the least doubt that the Bland movement will
be foered this winter We must have uni.
form currency. ~ Z