Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1863-03-10
Cold speculatlOu.-HOme ConsolatIons.


The rise Of gold to premium above
10 per cent. since July of last year, was
yariously accounted for, bat principally in
speculations. The doubts as to the ulti-
mate triumph of our arms over the rebels
had little to do with the rise, Or perhaps
not to exceed ten to fifteen per cent. there
Of. The Copperhead movement had as
much more hand in it, thus providing to-
tai Of % per cent. that could be accounted
for outside of speculstions. Since the
financial and CONSUMPTION enactments of
Congress both these causes are removed,
for there car be no doubts now IS to our
future triumph over the rebels nor any
danger of the copperLead movement to
destroy the union and by splitting the
States into irresponsible fragments insurng
a general Republication of the public debt.
The union will be saved and the public
debt be paid, consequently, no cause for
any want of faith in green backs.
The effect of The gold specuIations has
been severe upon the money fortunes Of
the country, or such fortunes as consist ex-
clusively in money. AS things were
shaped and stood some weeks, thousand
dollars was worth scarcely half that sum ;
yet the rise upon land property equalled
the loss Gu the other hand. And by means
of such rise persons were induced to buy
as well as sell, and the result was that mill
Ions Of debts were paid in money nomi-
nally worth but half the debts cancelled.
The operation still goes on, and may God
speed tso that the poor debtor may soon
be and exist full match for the more for
tunate creditor, and so on until no man
shall be debtor, or have master, or be
liable to lose house and home for third
part of value.
The reverse of things caused by the fall
Of gold, or It's approach to level with
green backs, must leave the gold and mon
ey spectators in desponding condition,
for they lose by it near a third Of their
capital-lose it at a stroke--lose it in an
hour. All their capital being in money
they lost immeasureably. While on the
other hand the land owners, the debt. rid
den land owners, have made corresponding
profits BY selling property and disposing Of
the proceeds in paying debts. Well, it
was told ever and again that all Jeprecia-
ton Of the government legal tender cur
rency must be clear loss to the money
holders of the country-at the same time
a clear gain to the land, farm and labor
interests, and positive relief to thedebtor
classes. But like fools, at it they went
and down they put the public credit in
the very face that the profits Of the opera
ton would be for others than the money
capitalists Of the country-in the very light
of reason that sucL profits would fall to the
debtor classes.
Now to results: millions Of acres of land
have been sold under the stimulous of a
general expansion and a public belief that
land is the only thing of solid value to be
found in existence. The great land grab
bing ball opened in New York and ex-
tended west and onward west until it reach
ed this near SHUTDOWN. Bales of green
backs are brought to 90 into land, and the
fortunate receivers thereof apply the green
backs in paying debts; SO that land selling
and debt paying is a daily occurrence in
every neighborhood of old Grant. We
may reasonably estimate that each day
carries with it ten thousand dollars of
debts, great and small, for the little infni-
tessimal dues melt away as well as the
mortgages and judgments for thousands.
And when re consider that nothing can
hinder while there is much to accelerate
this process Of land selling and debt pay
ing for some months to come, we feel to
congratulate the country for such transpir-
ing events as the gold speculations, copper
head threats to destroy the union ana in
augurate reputation, westward wave Of
green backs to lay out in lands. sales of
property, release Of debtors and d. of
high time generally, and all at the ALSO
Lutte expense Of the gold spectators who
are Left with the gold on their hands,
bought up at 40 to 70 cents over its worth
compared with tie value of green backs,
which latter are at par for paying debts (!
In the mean time the farmers have had all
the profits of the rise upon gold; Their
wheat, oats. pork and other staples have
| sold 40 Ia 10 nar cent ahova da,nand mar