The Caucasian. (Clinton, N.C.) 188?-1913, 1901-06-20

time since published Washing
ton dispatch containing an inter
view secured by the Washing
ton correspondent Of those papers
from Ex-senator Butler while In
that city on his return from the
North.
The interview spoke Of the In
dustrial activity in North Carolina
and In the South, and, In answer to
a question from the correspondent,
also gave the reason for the present
Industrial prosperity not only in
the South, but throughout the whole
country. The reason given was that
IL was the result Of the present great
output Of gold which is at once
coined into money, thus largely in
creasing the money supply.
In these interviews Senator But
Ter took pains to state clearly and
distinctly that he opposed the gold
standard law when 1t was passed
chiefly for the reason that he did
not Think there was enough gold at
that time In existence to supply
sufficient legal tender money to the
world and that, therefore, if silver
was not also coined and both of
these supplemented by paper money
to meet the increasing demands of
population and business, there would
be money famine, as there had
been in the past, res ulting inevitably
in falling prices and hard times.
He went on further to state that
he was pleasantly surprised that
such had not been the case and that
no one was more unpieasantly sur
prised at the result than the gold
bugs who favored the gold standard
law. He said that he was not in IA
vor of either gold or silver for
standard money, but was in favor
of Government paper and of having
the volume of money regulated
scientifically, 80 that a dollar would
be of the same value to-day, to-mor-
row and forever; that the only rea.
son why he was In favor of the free
coinage of silver was that 1t would
add to the volume of money, but
that there would be nc sense In
using one hundred cents worth Of
gold to make dollar; that nobody
wanted to handle gold and silver
money; that it was bulky and in
convenient and besides expensive
But he said that the cost of the ma
terial was a bsgatelle compared tC
having sufficient quantity and hav
ing that quantity increased i'm pro
portion to the increase of population
and business.
After making this clear and con
else statement of his views-whicl
every one knows have always beer
his views-he then said that he hat
no serious complaint against tn,
gold standard so long as the Outpu
Of gold was sufficient to supply tn,
demand, but that if 1t shout,
at any time become too great 8,
as to initiate prices unduly tina
then he would favor even limitin,
the free coinage of gold. He stoo,
for the cumulative theory no mat
ter Of what material money wa
made.
Both the Raleigh Morning Pos
and the Charlotte Observer pub
lished the interviews in a substsr
TALLY correct form, though not a
fully and concisely as they wer
given to the reporter; but on tn
editorial pages Of both of these ps
pers the editors, either because the
did not read the interviews care
fully or because they do not under
stand the money question or b.
cause they do not desire to, or, DO.
sibly did not feel at liberty to
fair, sought to create the impressio
that the editor of the CAUCASIAN ha
radically changed his views on til
money question. They both referre
to his great and recent 'flop''.
Many other papers have copied {
commented on these editorials, b,
have not published the interview
and have thus created the impressio
in some quarters that we hs
chopped"
The fact is we have not chopped
we have not changed our views
the least particular. Condition
however, have changed, and Il
great output of gold has for Il
time being to a certain extent m
the requirements of the quantit
tive theory, the only true princip
underlying the money question al
the principle to which every m,
subscribes who understands the que
tion and who loves the human rae
We regret that the two editO
did not see their way clear to
fair about this matter.
The Cuban Constitutional Conve