Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1869-03-16
Specie Payment-Can the Country AT.
ford it?

Mr.. COVER II see you lean toward
specie resumption, and that Gen.
Grant appears to favor an early par
valuation of all government secure
ties. will not deny that such is de-
sirable, provided the labor interest
of the country can stand it. Have
we the gold is the question. The
country is being terribly taxed with
dear prices of merchandise, and this
the result of fluctuations caused by
spectators and their monor olies. /
s.m afraid of resumption, yet hope for
it, ..and shall try to prepare for it.
The people look to the editors for in
formation as to what shall be done to
prepare for a day of resumption.
And | am sure the editors are the
friends Of the people.
Hazel Green, Mar. 10, go Au FAT.
RESPONSE BY EHE HERALD Some
men are alarmed at the favor shown
by the government for an early res
sumption of specie payment.
There is no intention-not the
least, TO rush the country into specie
payment without providing the
means of paying. Very true, the
people have been warned by every
friendly authority to put themselves
in such condition that, being com>
PEELED to pay debts in the equivalent
of gold for articles purchased at de-
preciated currency prices, any change
from currency to gold could not hurt
them. The government intention,
however, is, to first beget par cur
rency-a currency that shall be at
par value with gold, and in the next
place to have it in such abundance as
to hold up prices to their present
standard.
1t is said by those who have given
this subject their entire attention
that there is even now an abundance
of gold in the country 10 warrant
specie resumption. The following
figures are given out from the {. S.
Treasury Department:
The total amount of gold and sill
yer in the U. S. from 1887 to 1916
ave, aged from " 100000 to 81, OO0,-
900. From 1847 to 1854 the specie
ran up to 24l, COCO The gold and
silver in the United States for 1858
was 1926, 100000 The production
and expectation since then is known.
and the amount in the country at the
close of 1868 was, it is believed, about
$3.50, 100000.
Since 1887 it is believed that the
general expansion has been such as
TO require at present five times the
amount then needed, which amount
is now in the country.
Besides all, the gold and silver pro
ducts of the country annually exceed
the export by at least $4,000, 600
which amount must greatly increase
as a result of the several Pacific rail-
roads and development of new
mines.
We cannot see that any hurried
preparation should be made for re-
sumption day by the people or that
men should fold themselves mp as
worms do at premature frost
The better way is to g),ahead and
keep in sight of land.
The government has the ability to
protect the people from any shocking
collapse resulting from resumption,
and we are sure that such protection
will not be Withheld in case of neces-
sity.
One thing: Men have had long
run of prosperity-longer than ever
known, and all who have worked and
economical are well ahead. As q
general thing, those who are not now
ahead and ready for a bit OF panic
never will be ready for the like. Ii
will be well enough for everybody tc
take into account possible approach
of financial troubles when beset with
temptations to purchase property on
| q credit.