Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1861-07-17

Suiii9S. lucy We're LOtu that with banks
they could borrow al the money they nee +
ed at seven per cent. They were told
that Whenever they preferred the specie,
they could just step over 30 the bank and
draw it upon their bank notes, and they
We're foolish enough to believe it all, and
tins is all the CONNECTION they had upon
the SUBJECT.
Now the people have ga solemn con
viction growing cut of their experience
that everyone Of these pletcxts we're false,
knowingly, wilfully, viiainously false.-
Like the man we heard Of, the people were
Well and wanted to be better. They took
physlc and are sick. hey were caioled
into the adoption of thesystem just as They
are now attempted to be fooled into its con-
tlnuance, by men who want to live upon
the interest Of their promises to pay.
With regard to the repeal Of our system
of swindlng, the Sentinel says: 1--WE APP
prehend, however, that no such extremes
will be resorted to-" We apprehend so
TOO. if the bankers cen possibly prevent il,
and they certainly will, unless the people
rise as one man and resolve 10 send no man
TO the legislature who is not pledged to that
measure, and then it will be an even chance
that the bankers will fool them out of their
errand. What severe measure it would
be though, if the people, after being swim
died out Of $5,000,00O in six mouths 10y Il
law Of their own adoption, should repeal
it altogether Eyes" they say, lit is true,
dear people, we have swiudied you out Of
$5,000,o00, but then you surely will not
resort to the extre0ae measure of saying We
shall not do it again.
The following elnark is decidedly cool,
and will be appreciated oy all whose mem-
DRY runnelh not to the contrary:
"Bul those whose experience in business
in This State culies them back as far as the
time We had no banks, viii, we think, lie
ready TO admit that all classes suffered more
ana lost more without it.
None but bankers, Mr.. Sentinel, will be
ready to admit amy such thing. Why does
not the Sentinel refresh the memory of it.,
readers.by at least one specification of the
suffetiugS we endured in consequence of Il
specie currency. When did the people
ever lose 100000 in six months by a
specie currency? When did we have to
pay ten per cent. for exchange, with specie
currency? Give US the dates and figures
and not turn us off with these bald assertions
which everybody knows cannot be true.
The following brief argument wouldpsr-
haps 5e conclusive if the points were only
visible:
"ln this age of railroads, telegraphs,
steam and lightning, business cannot and
will not wait for the slow movement Of
metals, any more than it will creep back
TO the experience of the Spartans, with
their iron currency"
Everybody knows that gold will move
Just al, fast as steam can carry it, and if the
Sentinel knows any way to make bank
bills move any faster it should get out a
patent at oace. The only point we can
discover in this paragraph is this, that we
must invent systems Of swindlng which
will correspond in magnitude and dispatch
with improvements in honest pursuits. 1t
seems to be about nip and tuck between
them just now. If anything, swindling Is
little ahead.
Once more:
10 assume that, because bank systems
thus far have exploded, there is no safe
mode Of getting paper currency, is merely
an assumption. We are acquiring knowl-
edge every day through observation and
experience, in these latter days acquiring
IL rapidly, and although the next effort may
'ack perfection, we doubt not that safety
and convenience can be combined, ultima
tely, in establishing currency or mediem
ior the exchange Of values"
Here is a frank confession that every
banking system yet devised has proved a
failure, and yet the Sentinel is in favor Of
experimenting on. TO assume that. be-
cause fire has burned every child and kitten
chat has ererrun into il, fire viii burn every
other child OF kitten that runs into it, Is
merely an assumption! We have learned
every day, and We expect TO learn, after
getting slnged a few times more, that fire
wont burn at all