Year: 1879

Warrington DtsDdtch 10 The Cincinnati Commercial


In conversation to-day with your cone
spoud MT President Haves expressed himself quite
freely to tue pending financial questions. His aitn
$500 100000 without coin reserve and a coin reserve
of dollar Tor dollar for all ssue above that This system
10 replace the present esatenders and bank notes. lie
replied;


have not conSdered II. but TO those who regard our
Constitution plastic and easily 10 be changed. such
scnene might present MERITS Snch currency could
hot, OF course, be ssued without change in the Con-
siltution. dolaer OF the Instrument.
present II Ia a have and ia the view. think, Of
the sound men of all parties that the only con
eupated Dy the Constitution gold aud silver There
no doubt that the Constitution made by hardmouey
men, who lad ust out of period of irredeemabie
paper currency. and who were determined TO guard
against such money IN the Constitution. Taking the
Constitution Is. my position that we should get
greenbacks debt, nothing else. when you pros
coin to-day but the time viii surely come II they are
kept circulation when this VIII not be. suppose the
balance OF trade should be against for continuous
period and our gold should be drained from 10
then The people would begin to refuse TO take the depre
clated paper as egaltepder The case would be taken
would very probably be against the constuuonahty OF
such currency.


treat II as debt, and pay II while can. Any
rency, 10 have able value, must be constitutional and
IL the OPINION ~ ali thoughtful men. believe. that
Sonsrsss makes very poor board Of bank directors
. ID they hid ONE down here from NewYork aud said


We are IN tbi- Terrible nI We must have reiief Con
currency $500 90 600 The trouble with Congress
that must carry all districts Tnen there Is al
ways purity IN Congress that want large expenditures
How easy when hard TO vote hundred
millions OF currency and give the people work such
power would be fatal 10 all economy 10 the manage
ment OF the Government.


Then IL Is conceded that must have a banking
system OF some Kind better believe tits
generally admitted that have al the best
banking system the world has Take the
OF the failure tine Glasgow Bank There was by
that failure many times more than NIL National
banks have lost 10 the public since tney estsb-
llshed. There never was such system. The trouble
with our banking systems before has been that they De
munupliee


Here We have banking system that is absolutely
safe Why should pui any thing else IN place oftt
Other systems OF banking and currency have sue
ceeded ~ other countries but you will probably nnd
they did not have such body our Congress Tor
bank directors.


Now. solue OF our Republican friends come up here
and ask n goiLg TO have split In the parry
In the partyf No; why should there be any
split IN the psryf We all pretty much agreed about
the matter. Only am ready 10 begin now. and Tue
others would like 10 wait while longer There caut Oe
split In the party These Will all around
view. The Republicans In Congr ana the Ad-
min stration have thousand times further apart
before than this Question aud there forty
things that differ more Than do this. Why
they passed bill one OF my yetoes. and only ten
Republican Senators voted 10 sustain the veto. Ny
position s this that must AZ all events keep the sni


IN view, that tho groenbacks are 10 ee retired. and
there Is any changing Of my views In what have SAID
debt It. That my view. and an going to s'ies