Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1863-02-03
The True Cause Of The Rise Of Gold-King Cotton
New use fUr The Under Ground Railroad

Very much is said in Lancaster and
many are the opinions concerning the
price Of gold, the fuctuaticrs in the price,
the effect upon prices Of merchandise, pro-
duce, land and all property. We suppose
the same questions are being discussed in
every corner Of the coddtry. Indeed SO
much depends upon these Questions for
the value Of all property and labor that
the subject is one Of the deepest interest.
Our views as to the several causes pro
ducing the late enormous rise upon gold
above the Treasury note standard have I'M
dergone great changes since last week.
Until then we held that the rise is mainly
caused by combinations of capitalists, the
operators really or pretendedly doubling
the ability of our arms to triumph over
the rebels, and putting the market price
of gold in exact proportion to their doubts
thus fixing the value Of gold at the value
set upon the government fIom time to
time Hence, if the battle of to-day are
favorable to the rebels then up goes the
price Of gold; or what is the same thing
the national currency varies with the pros
poets of tie war. Like the mercury in
the Barometer, which indicates the weight
of the atmosphere and the prospects Of
lain or dry, storm or calm, these operators
were supposed TO know to a cent the value
Of each battle to the union and upon gold.
We own that we conceded to them for a
time thu ability to know as well as the
will to indicate by their gold Barometer
just how stood the prospects of the war,
We think the public has been generally
deceived as we have been. We now ex-
plain the cause ofthe fluctuations Of gold,
jvst as understood at present by the great
est financiers.
Cotton, king Of Europe and the rest Of
mankind for quarter Of a century, is not
dead but crippled. He has abandoned
politics, religion, ,iggers and democracy
and gone to specuiating in gold. He buys
up all the gold he car find at any price,
takes 1t South, buys confederacy money at
one dollar for twenty, exchanges confeder
acy for cotton at shilling pound, carries
it under protection of federal laws and
guas to the northern markets and it
brings him rs cents per pound. His piof-
its are absolutely fabulous, and he cares not
what the gold costs him, whether $l.58 to
the dollar in green-backs or double that
figure. Nor does he care but trifle
whether the battles are favorable to the
union or not. He can pay more for gold
if the battles are won for the union thanif
lost, because the more successful our arms
the more cotton can he buy as he will have
a wider range over cotton land and better
protection. So the rule is reversed in re-
spect to the rise of gold-the more battles
we win and the DINNER grow the confed
eracy prospects, the higher can he afford
to pay for gold. And were the union
prospects to fade away, king cotton would
fail and leave gold to fall to level with ma
tional currency.
1t is more than likely that, eyen at pres
ent extravagant prices of cotton, manufac-
turers are layingin immense stocks; there
may be fifty million dollars worth in the
hands of manufacturers at this time and as
much mole engaged at so 20 70 cts. per
pound. Such works cannot last longi this
last trump of king cotton must now be
about played out and the gold bubble
soon burst. He must then 90 into politics
again and into the democracy, pretty much
as the devil entered the swine; but we
cant see how he can do much after leav-
ing gold run down to par. He may take
TO running the underground railroad and
frieghting with niggers, and will be sure
to do so if he can get them to vote the
democratic ticket, or by some means help
him to office. He may take to regulating
the currency instead of going into democ-
racy. in which case he may play the mis-
chief. A greater than Cesar is our King
Cotton!
From North Carolina