Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1869-01-26
The G,ldMonop,ly Buffers Speech
on Currency and Gold.

Ben. Butler don't want gold TO
come back again, az circulating
medium. We have never sworn by
Ben. Butler, but VIC believe there il
more sound political economy. prog
ress aud material power in this idea
than there would be in the wand OF !
old Midas, provided we could get
hold OF it. Financial history abun,
dainty proves that all Commercial
revulsions are directly traceable to
systems theoretically or actually |
built on gold. Banks have broken,
and labor has been defrauded be- |
cause at no time has there ever been |
enough of gold in the country to res
deem their issues yet the theory
of gold currency necessarily in
wolves the practical fallscy that all
the paper currency issued by the
state or nation, can ct any moment
be redeemed in gold, in case Of 3 run
upon the banks. With gold the era of
state banks innumerable will necessa-
rily return, and pancs will drive these
banks into insolvency, all public i'm.
provements will cease labor will be
detrauded as it has been for q hun
dred times before. and private per-
sons will get all their metallic curren,
cy into their possession and hoard it
up till the panic subsidies. In the
mean time all produce and all prop
erty will fall, and business will stag
nate, till the gold holder think it
safe to invest their precious metal
:. again. Butler says gold belongs to
an age Of barbarism. We believe it
Gold and silver can tie boarded up,
and are boarded up in vast quanti~
ties IN all countries where they are
the ruling currency. In this condi-
ton they do no more good 10 the
owner nor any one else than If they
were in their native mines. These
metals are earthly and have al at
traction tor the earth. Greenbacks
are more spiritual. No body boards
mp greenbacks. Like the leaves Of
the aspen they are always in motion
In fact they arc an instance Of per
petual motion. Who ever has green
backs hires labor he builds house
or barn. This gives employment t.
mechanics. He buys land, makes /,
farm. This encourages manufac
lures and inventors. Greenback
stimulate labor. NevAr idle than
selves, they permit no body else /,
be idle. Industry and labor develop,
the country, and then the country
bnilds railroads We know as fac
that during the panic of 1867,
lawyer of this village, part Q
whose business was TO act a
agent for parties having money K
loan, had some $4,000 locked up in
strong box, the owner Of which wa
afraid for considerable length 0
time to invest it. This imp'ison
ment Of gold becoming universal
caused the stagnation. An old mi
ser not long since died in Dubuque
possessed Of thousands OF dollars il
gold which be got by mining. Fl
buried bis money Ia the earth wher
it came from, and now his heirs hav
for several months been mining al
ter the hidden treasure. But we af
ItEL LitSG Lu0AO 10 NOO % IEOCHttUd uOi
lars in greenbAcks "cornered' in IL
whole County OF Grant. Rattle
shan hoard his greenbacks, q maj
will bay Is government bond 0u
then the seller Of the bond has tn
greenbacks for circulation and use
Gold is indigestiblo II gives the &
nancial world the dyspepsia. Green
backs are the nutritious pabulum
Feed the nation on greenbacks, ant
it viii make more and larger farms
larger cities, buildings and improve
ments and build larger railroads, anC
carry two bullions Of debt on il
shoulders, than il would do with ,
specie currency, free Of debt, witt
any amount Of bullion in its Golfers
So we go tor Buffers theory and pro.
nounce gold and silver contrabanC
both of war and peace.