Year: 1875

HIS VIEWS ON FINANCE AND THE PRE-


sIDENCY-THE WAY TO RESUMPTION


THROUGH INFLATIoN-A DEMOCRATIC


PRESIDENT.


From an Interview in Cinncinati Commercial.


hold that the effort to bring about
specie resumption through contraction
is fallacy. That while ] do not dis
tinctly call for imitation, challenge
the administration party to the proof
that to contract the currency is to has
ten the day Of resumption. am not
oblivious of the advantages of having
uniform currency with the world, yet
| believe that the creation of nation
al debt Of %, 500, 600, 900, all bonded,
and in reality a form Of currency has,
altered our relations with the exterior
world. The state of things here is
phenomenal. The cry of the country


for avocation, for business, is the ne
cessity of the hour, and the year,
and perhaps the years; for things grow
no better. think can put on the
administration party the onus of de-
Tending the depressed condition of the
people and trade.


hold that the national banks ought
to be absorbed in the Government, and
the greenback replace their currency.
For, what arc these banks existing up
on except the credit of the Govern
mont? They are an institution be-
tween the people and the currency,
adding to our burdens by their exac-
tions, and almost monopoly of what
should be the Governments own func-
tion-- to issue currency. l would
begin by taking from those banks the
monopoly of the Government credit.
After the greenback has become the
only form of currency it will appreci-
ate,if not in the market, certainly in
tho minds Of men. Then l would
make the greenback in whole or in
part receivable for customs duties and
thus, instead of the Government "bul-
ling" gold, as it now docs, the enlarg-
ed uses OF the greenback will "bcar"
gold. The credit of the Government
of the United States is such that it
can meet its interest by borrowing
gold on contract at a very low steady
figure.


AT present the Government is the
principal upholder of high rate of
gold, as it is always buying large
amounts, and compelling other people
to do the same, to pay their custom
duties. SO you observe that ten years
after the war gold is at III. If the
Government will give credit to its own
notes, the whole moral power of the
United States will be exerted in favor
of the greenback. The way to specie
affirm, is not by contrac-
ton. 1t may not beby imitation. But
1t is by the appreciation of the green
back instead of its degradation.


don't see how the Democratic par
ty can be beaten. AS to its candidates,
there is some doubt, Tilden is we'll
spoken of. Hendricks would suit me.
l think the the Republicans will nom.
nate Washburn. He has a good rec
ord and knows how to manipulate n
convention.


Governor Brown, don't you think
Secetary Bristow is rising candidate
for the Presidency?


No, sir. do not suppose that, in
the prosecution of his duties. hat
thing animates him at all. If you
knew his associations and birthplace,
as do, you would not ask the ques,
ton. Public men in Kentucky do not
do their duty for rewards of any kind.
They die poor, taken care of in their
later days by public subscription, like
Clay, Crittcnden, Breckinridge, and
many Of that class. believe Bristow
to be actuated sy the sense of honor,
and not desire of office, If he could
get the Presidency he would not scoru
it. But he would not turn out of the
way of his duty to stoop for it.