Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1878-01-31
NEW YORK LETTER.
A View From the Hudson ard over the Hudson
"A sing Sing Ring ON siivery sa bj ect-
Golden W ords OF q Lancaster Boy

0Oldon w GTds OF Lancaster How.
SING SING, n Y. Jan. "a, 1877.
10 the Editor Of The Herald -
IL IS OF course useless to write you ANYTHING
about so notorious place as this everyone
knows what Sing Sing is. But the institution
for which it is famous is situated down under
the hill out of sight, and does not form the
only feature OF very attractive village.
write from the summit of noble elevation
commanding birdseye view formiles around
Going out in the evening one can see soft
radience IN the southern horizon, caused by
myriads of lights in the metropolis At any
hour can look from my window out upon the
hudson, where it broadens into Haverstraw
Bay. So there is chance to get acquainted
with the varying phases of this river; seeing
1t sometimes lashed into fury, as Yesterday,
when the wind blew sixty miles an hour but,
usually, as recently heard distinguished
clergyman express it, mos tossed by the TEN.
pests, but rolling in the sunlight, and every
wave crested with silver and with gold . This
reminds me OF the present state of politics in
TINS country, where every wave is indeed
crested with silver and with gold" especially
the former. This is rather delicate subject
to mention. Perhaps had better give some.
account of the interesting lecture just deliver-
ed here by DR.. Isaac Hayes, the Arctic exs
plorcr But no. During the late war, an ap-
plicant for the position Of army surgeon, found
much difficulty in passing. and Indignantly
asked the examiner, "What do you mean by
asking such questions, when our country's
flag is trailing in the DUST And so it seems
to me that it wonld be an impertinance to ad
dress you on indifferent matters, when the all
absorbing topic is silver. have not seen a
copy of the HERALD for some time, and so do
not know what is your position on this ques-
ton. But hope that you make as gallant
stand for the nations honor, as used to be
made by j. G. Gov er for the Nations life. Let
me say here that l never was SO proud of nv
native state as when last Fall she elected a
ticket with platform which endorsed HAYES
and eoand moncy. always write LalIcallcr,
Wisconsin, after my name with as much pride
as the Lords of the Red Rose felt in their
title five hundred years ago When, as is
sometimes the case, aui asked if am not
from Connecticut or New Jersey, or Illinois,
l Indignantly reply. mo sir. am from Wis
consin." And flushed with pride to-day, on
reading in the n. Y. Tribune remark that the
Democratic party would have difficulty in
substantating their boast that they could car.
ry Wisconsin on the silver issue.
II the silver advocates all believed that a
bi-metlic system could be mar aimed, there
would be little difficulty ia proving the fall
lacy of their position. France endeavorcd long
ago to do what no power on earth can do. to
fix the relative value of gold and silver the
ratio was fixed at to LOT, and free coinage
in either metal established OF course the
ratio did not remain permanent. First gold
became relatively more valuable then gold
left the country, and the coinage became al
most exclusively silver. Upon the discovery
of gold in Australia and California it became
cheaper; the silver lett the country and gold
took its place again. In both these cases, the
government lost by the change, and specula>
tors profited, because there was free coinage
at All established ratio. 1t was but an Illus
tration of the inevitable law of Gresham, that
the cheaper currency drives out the dearer
1t is also remarked by the inAationsts that
we now have silver coinage in circulation
OF less value than the Que proposed. This is
almost too absurd to mention; since everys
body knows that our silver dimes, quarters
and half dollars, are merely a subsidiary coin,
age issued for convenience aud are a legal ten
der for only very limited amounts; that their
coinage is not free to holders OF bullion, and
that they are made of light weight in order
to insure their being kept in circulation. Just
as in England, the silver sixpences, shllings
and half crowns, contain much less silver than
their nominal value. but the amount of their
issue is restricted by the government, and
Their legal tender quality does not extend be-
yond two pounds. BY this ingenious device
tor subsidiary coinage all danger of a scarci>
ty OF small change is obviated, since it would
pay no one to export light coinage.
But, unfortunately, the honest bi-metallists
are in very small minority in the silver camp
The saddest part of the whole business is that
SO many openly declare that they want to have
unlimited silver, for the very purpose of re-
pudiating part of their debts. When Mr.
Bland threatened the Senate finance commit
tee with the complete reputation of the ma
tonal bonds, if they did not acquiesce in this
partial scaling down, it was we'll remarked
'ln Now York higwaymen are put into the
them to Congress- The very fact &c Of sf fRe
large majority which both Houses have in fa-
vor of this bill would be presumption in its
favor, were it not that so many admit the dis
honesty and argue on the score of expediency
Things have come to benny cripus," when
Presidential veto is the only hope left for
security; and when the West stands shoulder
to shoulder with the "Solid South in assailug
the national credit, and decrying Eastern caps
italsts. As if a man who has had sufficient
industry and frugality to accumulate fortune
should be denounced as a public enemy. And
here comes the Cincinnati Enquirer and at
tributes the numerous failures in 1878, to the
resumption policy, instead of to the distrust
engendered by the silver agitation
Self-interest ought to convince, if higher
arguments do not. The funding of the debt
by four per cent. bonds, has at once ceased,
and bonds are being rapidly returned from
abroad. The rapacious Syndicate politely re-
quests to be released from placing the rest of
the loan. These signs are unmistakable. If
the BLAND bill becomes law, we should, in all
probability, be reduced to the condition of
Turkey and the South American Republics,
obliged to borrow at usurious rates, and lose
far more in interest than any gain from cheap
legal tender. Cries against bloated bond-
holders may tickle the popular ear but bonds
are largely held by savings banks and trust
companies, representing the savings of those
who are anything but bloated. It is we poor
people who cannot afford an unstable curren>
cy; she capitalists usually show considerable
facility IN taking care of themselves This
contraction of the currency has caused great
suffering 1t is always painful to pay debts
But when we have gone through all the agony,
and gold has reached the lowest point since
81, shall we be alarmed at fraction over one
per cent premium, and under all that has
been so painfully attained The readiust
ment OF prices must necessarily cause hard
ship for a time. myself have lively appre-
citation of the fact that wages are much lower
than they were But | also know that I can
get suit of clothes for a bout half what they
used to cost ; and / can go into restaurant in
New York and make good dinner on twenty,
five cents, or less if need be-
There is, however, wavering in the line of
the solid South, which looks encouraging
Charleston and New Orleans bankers agree
with those of New York and Boston And
when such men as Bayard, the noblest Roman
of them all, and Hill and Lamar, stand boldly
on the side of the best elements in the Repub-
lican party, it looks like the right kind of re-
Cancellation. Even Senator Eaton of Connects
lieut., does much to redeem somewhat unsav-
ory record, when he vigorously refused to
countenance Mr. VOORHEES, because of his re,
cent arraignment of labor against capital.
Meanwhile the Chicago Tribune displays a
crudeness on economic subjects, sufficient to
make John Stuart Nil turn in his grave /: and
the "Tall Sycamore of the Wabash uses his
position as Senator of the United States to
make fervid appeals to the worst passions of
communism; and the sale of four per cent.
bonds in Europe is suddenly arrested; and the
clear sighted New York press is unheeded. be-
cause, forsooth, it is subsidized by the money
sharks: and such men az Dawes and Uo,r a,a