Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1861-12-04
Gold and SILVER for Faxes.

has seemed TO warrant town and county
treasurers in receiving paper currency tor
taxes. and thereby departing from gold
and silver foI the first time in twenty
years. The consequences have been, the
accumulation of lot Of worthless bank
paper in the hands Of the county treasurer,
and a loss Of near 5000 IN that way; also,
The exchanging of the public school f1nd,
which was in paper, for gold at a loss to the
county Of five per cent, or $500, with va
rious narrow Liabilities to heavy losses
which were only avoided by the watehful-
ness Of the county TREASURER. Daling the
entire two years Of paper money reign ia,
the county the town treasurers and people
of the several towns appeared unwilling
to receive paper in payment Of dues from
the county treasurer, in most instances de-
handing gold; yet, in most instances the
the receipts Of the county treasurer from
such town treasurers and people were in
bank paper. 1t has appeared IN many in
stances that persons about to pay money
to the coRnty treasurer would sell their
gold to merchants At one or more per
cent. in exchange for paper and then pay
the county treasurer in a currency liable to
depreciqte any day from 25 to so per
cent; most curious as before stated, the
same individuals would refuse to receive
currency from the county treasurer in pay
ment of town dues and other indebtedness.
Such being the facts presented to the
County Board, an order was almost unan-
imously adopted ordering lie county
treasurer to receive nothing but gold and
silver for taxes of any kind, exc pit county
orders for county taxes. This order will
be operative upon town treasurers, as,
they will be unable to use or pay out any
money but gold. This rule Of the County
Board restores the geld basis which for
twenty years prevailed IN the county, and
insures no less By depreciabIe and false
paper currency for some years to come,
or until by some force means a worthless
currency is again put IN circulation.
In the year 81 the loss on disciedited
Wisconsin paper was milloa dollars in
the State, and at least $4,000 in Grant
county. Almost this entire amount of dis
credited paper had been paid out along tho
Milwaukee q Prairie du Chen Railway for
produce, chiefly at Bridgeport and Bosco-
bel; doF goue weeks just before third Of
the Wisconsin banks fell into discredH, no
other money was paid, showing that the
swindling was fQreknQYn, Larefaead and
preconcerted on the part Of the Milwaukee
bankers who paid it out to the produce
dealers at those places. Such swindles
have been hatched periodically for several
years, as the like will be again, but Inst
Spring was the only time the people Of
this part of the State ever got entrapped
for over twenty years, or since the time the
Mineral Pqint end Green Bay banks failed
The following from the Boscobel E,r-
press shows thai the people of the yicini-
ty where that paper is published are sound,
provided tho editors fairly express the
minds Of their patrons. Speaking of the
order of the County Board assuming the
loss on such diseredited paper as the coan-
~ treasurer had taken for taxes, the Er-
prsss says
$50 the several towns in the county
have got to pay their quota Of this loss
Under the circumstances it is right they
SHOULD bBt suppose We bad no banks
would the taxpayers be called upon to
make good a deficiency in the value Of
such funds! It j. but one ont Of ten
thousand arguments against the entire
banking system, which ought to be wholly
suppressed"
True, every word. and we hope Bosco-
bel produce dealers will assist almost every
other pert of the county in supprcssing
bank paper, as the loss on every dollar
of currency paid out at BoscoboI averages
ten per cent. Even now, we doubt wheth
er the very currency being paid out for
produce in that vicinity can be exchanged
at Boscobel for gold at less than four per
cent. Where then are tax payers in thai
vicinity to get their tax money. except Al i
heavy shave! But this is but aDothar Of
the ten thousand arguments against the
entire banking system. In other parts 81
the county, south Of the rail roal the peo-
pie RECEIVE for produce AMI pay ont moth
ing bpt gold; consequently in such other
parts Of the county there will Be- itie
trqpble in raising hard money for taxes.
Ess- Jacob Thompson, member Of Ba-
chanan's cabinet as Secretary Sc the lnteri-