Year: 1879

From the New York Herald, Nov. IL.


Judge Aylett HI. Buckner of Mis-
souri,, chairman of the house commit
tee on currency, has been staying at
the Grand Central hotel, his special
business in this city being the inves-
tlgation of alleged frauds by the re-
ceiver of the Ocean National bank.
A Herald reporter called upon him
last evening to ascertain his views
and those of his colleagues and the
feeling of the West in general in re-
gard to the new phases of the cur
rency question brought about by the
resumption of specie payments and
the revival of business.


AS to the silver bill now before
congress, Mr.. Buckner did not de-
sire to express himself very freely,
because it did not come under the
jurisdiction of his committee. 1t
originated with the committee on
coins, weights and measures, of
which Mr.. Stephens of Georgia is
chairman. They had control Of the
bill by a singular construction of the
rule. and what it's disposition would
be Mr.. Buckner could not say.


"What will be the effect of the sue
cess of the resumption of specie pay
ments on the policy of congress in
relation to the silver question:


my own opinion is that it will
not change the policy of the house at
all. l am very much in hope that
the advance in the price of silver will
make the solution of that question q
very easy one. There is a strong
probability that the price of silver
will advance SO that it shall be ON
par with gold. Its present advance
is due to the large demand, which
chiefly comes from India, and think
| it likely that it may advance to
point that will obviate any objections
to its free coinage. There is con-
siderable amount now exported from
London on account of this demand,
and l presume there is some expor-
tation from this country. The lack
of demand for silver has been one
great cause of its depreciation. In
dia has had nothing to send to Eng
land, and, of course, there was no
silver to be returned in payment"


''What do you think of the pro-
posed plan Of retiring the greenbacks
and having a coin circulation in
stead ?''


q think the whole Western coun-
try will oppose it, Republicans as
well as Democrats.


OPPOSING NATIONAL BANKS.


"On what grounds?'i


| son this ground, if for no other
that the place supplied now by the
greenbacks would be then filed by
the national banks, and the national
bank system renders the debt of this
country necessity and perpetuates
it,


"In what way does it perpetuate it"


because the national bank system
pre-supposes the existence of a public
debt, it being founded upon the debt
of the United States. 1t is bond of
the United States. If the national
banking system continues we must
abandon the idea of ever paying the
debt, because the bonds of the United


States are the necessary basis upon


which the national banks are MAIN


tanned. | have no idea that congress


at this next session-and hope never


in the future-will be willing to with


draw the greenbacks. do not think


that the elections indicate any popu-


ular sentiment of that sort at all. The


policy of the secretary of the treasury


himself Is at least to retain the pres


ent amount of greenbacks. He is IN


favor OF that, and said so in his
speech the other day. The West


would not sustain him in the effort to


withdraw the greenbacks from circu-


lation."


"But are not the greenbacks them


selves just as much form Of debG as


the bonds held by the national
banks?''


"To be sure they are, but it is a
debt which the people can pay at


their own pleasure and without inter-
est. l am not speaking the views OF
all the committee, but only my own.


Some of them do not think as do.
Mr.. Chittenden, know, is for get
ting rid of the grcenbacks. He ex-
poets that they will do it when it is
decided that the greenbacks are not a
! legal tender. That is the reason of the
!, !, suit between him and Gen. Butler,
for the purpose of having the opinion


of the supreme court on that ques-
., ton. There are not many Democrats
/. /. in the West who will go as far as that,
= or Republicans either. The question
I will not attract much attention in
congress. l suppose there will be
bills introduced for that purpose, but
l have no idea that they will receive
any favorable consideration at the
:, hands of this congress.