The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-12-06
BAYARD AND IIENDRICKS.
Their Views ON Financial Matters aud
other PabIIc ISSues-A GrecnbAck Con.
fa..at,aa

q. Other Publle lHsuea-A GFeenbRck Con
ference.
, SENATOR BAYARD's VIEWS.
WASHINGTON, December 4.-Senatol
Bayard to-day, in conversation on the
subject OF his resolution introduced, yes,
terlay, said at seems to me that this Is
q measure on which every Democrat In the
country can unite. There Is nothing in
any Democratic platform which has been
promulgated anywhere in this country up
to this time that conflicts with the resolu.
ton. The Democratic party has always
declared In favor OF honest money, and
now It is in position to secure honest
money by taking single step, and
that u short one. | do not touch
the question Of tho volume Of
paper money outstanding at all. do not
touch the question Of whether the paper
circulation shall consist Of Treasury notes
or National Bank notes. The resolution
does not contemplate that. That question
can be left until tits time TO meet It; but
| simply propose that now, when Treas.
ury notes are payable In gold aud are lie.
Ing paid In gold, We shall take away the
legal.tender qualification, which Demo.
Gratis have always contended they never
ought TO have had, and thereby In.
sure TO the people OF this country that
hereafter they shall rot be subjected to
loss by having the currency on the basis
Of which they make their contracts depre.,
CiAte on their hands" = 81
Would the adoption Of your resolution
and the repeal Of the lsgAl.tender quality
Of the greenbark affect the volume Of
greenbacks in circulation? asked your
correspondent,
"Not at ALL" he replied. "They would
still remain In circulation Us Treasury
notes, and would be redeelnable in coin
by the Government, aS they are now,
There would be no apprecihble difference,
because they are to-day equivalent with
coin. The real difference would be that
no one would be forced to take them-ulat
Is, we should abandon the position OF
making them arbitrarily legal tenders,
without regard to their value, and should
make them what they Oughtto be, Treas.
ury notes, redeemable In coin. This would
make them better money than they are
now, and Of course they would circulate
as freely as they do now" sI.f
Would not the adoption OF your reso.
luton force the banks to keep coin re.
serve instead Of graenbRck reserve, as
they do now, and 80 force them TO nut into
circulation the greenbacks which are now
boarded in their yGults?"
"Not necessarily he replied. 1.-THE
law authorizes the banks TO use green
backs as q preserve. They could do 70 still,
but the difference would be this: Now Il
you take 4 five dollar national bank note,
for instance, to bank aud ask to have II
redeemed the bank can offer you five
dollar greenbaCk, and you must accept II
because 1t is legal tender; but II this
resolution should become law, and the
legal tender quality Of the greenback
should be taken away, the bank would be
forced TO give you coin for your bank hill
II you demanded. The bank OF course
could take its greenbacks 10 the treasury
and get coin for them, SO It would be pro.
tected."
"Wbat DO you think OF the prospect for
the adoption OF your resolution"
II do not know" he replied. ~ hope
It will be, first, because believe Il would
be the right thing TO do; and, second, be-
cause l think It would be sound policy on
the part ot the Democratic party. II the
Democratic majority in Congress will take
this step It will cut the ground right out
from under the feet ot our opponents, aud
II will very greatly increase the faith OF
the people in US, In my Judgment. The
people oi the North do not cherish any
feeling OF sectional bitterness toward the
South. They are not frightened by tho
cry Of solid South, but they arc not
quite certain whether the South can be
trusted on questions relating TO the cur.
rency. II the Southern and Western
Democrats would pass such measure ~
this II would insure honest money, and
would give the North confidence In their
financial Intentions"
4 The Senator'S attention being called to
q criticism In the New York Hrdh that
he had not risen to the high plane OF put
ting himself in line with the Presidents
recommendations, he replied: "AlI have
TO say about that Is that ! am at least hon.
est in what | have proposed, and mean
what say There is deal Of force in
this remark In view Of the fact, which Is a
tact, that the President has told number
Of prominent Republicans that he did not
mean to raise any issue Ia his message,
and gave them 10 understand that he was
only talking for effect.
VIEWS or GOV. HENDRICKS.
Gov. Hendricks, who has been here for
several days, has been In frequent consul
talion with his personal friends and other
leading Democrats OF the two Houses Of
Congress. He has talked freely OF tho po.
Itical and financial situation. His friends
understand that Mr.. Hendricks consid.
ers total abstinence from discussion or
consideration Of the question Of the cur:
rency and the finances to be the course oil
wisdom and expedienCy for the Democrat.
lc majority in Congress; that II tho subject
Is once opened up for discussion In the
halls Of the two Houses 1t will inevitably
divide, and divide radically, lead.
ems and exponents Of Democratic
, opinion. In this respect Mr..
Hendricks and his friends differ
with the view oi Senator Bayard that his
resolution, offered yestered, should and
:. can command united party support. In
' respect 10 the currency and finances, Il Ia
, noticeable since the beginning OF this ses.
! sion that the Southern men In the two
Houses show now much greater inClina.
( ton 10 follow the lead OF the East. Hpre.
: tOtOre the Southern men hAvO seemed 10
conclude that their best policy was In
seeking silence with the West and back.
ingu Western Ideas on the currency, but
1 many ol them now say they see this is
r not the thing 10 do. There Is time, how.
: ever, for reflection and consultation in
! these matters, as nothing will be decided
l before tho holidays, and then after caucus
q dellberatlon. While holding the views
b above noted as to flnanee and the proprlety
. Of negative policy concerning thom, Gov,
Hendricks and his friends favor b positive
7 policy ~ regards the political questions
a which were Of issue during the extra Sos.
i sion OF Congress between the President
8 and that body. The Idea, as expressed
Q by one oil them to-day, isthRt there shall
+ 10 no backing down, bat that the point
J. shall be kept steadily In view that the
q isSsaIa sssIoaa5 ss 9RGa sAS 81
s the federal Government, No Idea ls sug,
gested o. refusing 70 vote appropriation,
9 but 1t Is eantended that the appropriR'
s tons shall DO divided into separate bills
S Gt tho last session, and every
Y possible rcstrIstSE tbEogR around
;! vision over the elections In The
y Stale by officers Of the general govern
y nent It Is Advocated therefore, tha
!. while the necessGy eyRaaseSd d tho unitct
Y stalpa iHafahAla should b0 provided for
e tue most bOFtlnllonR care shall Nnnilnna n