that is not sound, that has not a perfectly sound foundation,
and I mean sound, sound in every sense of that word. It must be wise
and honest. We have plenty of money; the trouble is to get it. If the
Greenbackers will pass a law furnishing all of us with collaterals, there
certainly would be no trouble about getting the money. Nothing can
demonstrate more fully the plentifulness of money than the fact that
millions of four per cent. bonds have been taken in the United States.
The trouble is, business is scarce.
Question. But do you not think the Greenback movement will help the
Democracy to success in 1880?
Answer. I think the Greenback movement will injure the Republican
party much more than the Democratic party. Whether that injury will
reach as far as 1880 depends simply upon one thing. If resumption--in
spite of all the resolutions to the contrary-- inaugurates an era of
prosperity, as I believe and hope it will, then it seems to me that the
Republican party will be as strong in the North as in its palmiest days.
Of course I regard most of the old issues as settled, and I make this
statement simply because I regard the financial issue as the only living
one.
Of course, I have no idea who will be the Democratic candidate, but I
suppose the South will be solid for the Democratic nominee, unless the
financial question divides that section of the country.
Question. With a solid South do you not think the Democratic nominee
will stand a good chance?
Answer. Certainly, he will stand the best chance if the Democracy is
right on the financial question; if it will cling to its old idea of hard
money, he will. If the Democrats will recognize that the issues of the
war are settled, then I think that party has the best chance.
Question. But if it clings to soft money?
Answer. Then I think it will be beaten, if by soft money it means the
payment of one promise with another.
Question. You consider Greenbackers inflationists, do you not?
Answer. I suppose the Greenbackers to be the party of inflation. I am in
favor of inflation produced by industry. I am in favor of the country
being inflated with corn, with wheat, good houses, books, pictures, and
plenty of labor for everybody. I am in favor of being inflated with gold
and silver, but I do not believe in the inflation of promise, expectation
and speculation. I sympathize with every man who is willing to work
and cannot get it, and I sympathize to that degree that I would like to
see the fortunate and prosperous taxed to support his unfortunate
brother until labor could be found.
The Greenback party seems to think credit is just as good as gold.
While the credit lasts this is so; but the trouble is, whenever it is
ascertained that the gold is gone or cannot be produced the credit takes
wings. The bill of a perfectly solvent bank may circulate for years.
Now, because nobody demands the gold on that bill it doesn't follow
that the bill would be just as good without any gold behind it. The idea
that you can have the gold whenever you present the bill gives it its
value. To illustrate: A poor man buys soup tickets. He is not hungry at
the time of purchase, and will not be for some hours. During those
hours the Greenback gentlemen argue that there is no use of keeping
any soup on hand with which to redeem these tickets, and from this
they further argue that if they can be good for a few hours without soup,
why not forever? And they would be, only the holder gets hungry. Until
he is hungry, of course, he does not care whether any soup is on hand
or not, but when he presents his ticket he wants his soup, and the idea
that he can have the soup when he does present the ticket gives it its
value. And so I regard bank notes, without gold and silver, as of the
same value as tickets without soup.
--The Post, Washington, D. C., 1878.
THE PRE-MILLENNIAL CONFERENCE.
Question. What do you think of the Pre-Millennial Conference that was
held in New York City recently?
Answer. Well, I think that all who attended it were believers in the
Bible, and any one who believes in prophecies and looks to their
fulfillment will go insane. A man that tries from Daniel's ram with
three horns and five tails and his deformed goats to ascertain the date of
the second immigration of Christ to this world is already insane. It all
shows that the moment we leave the realm of fact and law we
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