Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1878-07-18
The Present Duty Of Silver
Agitators.
From tho Nation.

wouiu hOotoTo ~ W us ola price OF
1873, and the probabilities are that
it will fall still further, thus render.
ing the difficulties of double stand
ard still greater than they were or
were expected to be when tho agita-
ton began, and making the task OF
inducing the European gold foxes to
cut off their tails, with which our
Commissioners are charged, increas.
ingly arduous. In fact the failure OF
the Conference appears, if not alto
gether certain. Moreover, it has
been all but demonstrated that there
ia no popular demand as yet for the
new silver coin for general use. The
government has bound itself to &C,
cept it in payment of its dues, and
all that 1T ISSUES is at once returned
to it and is now accommodating rapid
~ in the Treasury, and it must be
remembered that whatever the Gov
ernment receives 10 this way Il re.
celves in place OF gold, 80 that the
process of the displacement of gold
by silver in the Treasury has alread =
begun. The proposition SO clamor-
ously maintained by the silver mon
that thore existed on the part of the
people of this country sentimental
attachment to the silver dollars as
the money of their fathers, that they
passionately desired it, and thought
that they had been cheated in hav-
ing it struck from the list of legal
tender coins, has in fact been demol-
ished within six months of tho pas
sage OF the act. The feeling of the
American people about money of ev-
cry description, including coins, is in
truth the feeling they have about
machinery. They are no more at.
tached to the silver dollar because
their fathers used it than they are
attached to tho scythe or the sickle
because their fathers used it, and
would think it very silly of anybody
to como to them with tears In his
eyes and conjure them to adopt it
in place of the moving machine. So
that when the silver dollar makes its
appearance in business they apply
to it the tests which they apply to
every other instrument of produc.
ton that is, they consider whether
1T IS the cheapest and most efficient
Instrument TO which they can resort.
Silver is not convenient instru-
mont in as busy and active a COM
munity as this is, and therefore no.
body calls for it except those who
can make prompt profit by sending
1T back into the Treasury. If it be
asked how this state of facts is to be
reconciled with the undeniable pop
ular demand for its demonstration
last Winter, we can only say that
the answer to this Is to be found in
very interesting, but as yet imper-
fectly-studied, field, which may be
called the psychology of politics. The
silver question is by no means the
only curious question in this field. If
1t were proposed to any individual
American of average intelligence and
shrewdness-say Gov. Rice, of Mass
achusetts-to conduct his own bust
ness on the plan, in the matter of
employing servants, on which the
government business has been con.
Quoted during the last forty years,
he would feel that you were making
fun OF him but nevertheless he is
fully pursuaded that there is some :
thing mysterious and undesirable in
"republic" or "people' which
makes it perfectly proper to carry
on its vast and complicated affairs in
that way-ie., in disregard OF well
known principles of human nature.
The silver agitation, like tho green.
back agitation, owed it's strength
largely to each persons confidence
in his own smartness and in the gull
bilIty of his neighbors that is, each
silver-mah and inflationist would
probably admit privately that bis
plans would not work well perman-
ontly, but he thought that they
would raise prices, so that he would
get rid of his wares at profit before
other people had time to "mark up''
theirs. In other words, his imagin-
alton was just powerful enough TO
picture himself in the capacity Of q
seller, but not powerful enough to
picture himself also in the capacity
of buyer. All the lato attempts to
tinker the currency have, in fact.
been plans for "unloading'' on an IN.
known portion of the community.
who were supposed to be bereft of
shrewdness and very ready to buy.
but whose exact whereabouts was
never revealed. What is most cur.
ious about this delusion is that the
shrowdest managers of their own Of.
fairs are not always exempt from it.
The notion that our remonetiza-
tioon would raise the price of silver
bullion. and that q double standard
would find support in this country in
a popular liking for silver coin. hav.
ing thus fortunately been exploded
in the very first days of the expert.
mont, it only remains to ask what
prospect is now opened up to us. The
situation is of course changing from
day to day, and will continue to
change during tho winter. What
are we then to look for, tho price of
silver bullion continuing as low as it
isl The probabilities seem to be
that. the steady return of the new
coins to the Treasury in place of gold
I'VE are now stripping the matter
of all details and technicalities-will
after . while compel tho Secretary
in self-defense to use some of his sil-
YER in payment of the public liabili-
ties or in other words. to treat it
as equally valuable with gold. and
pay the interest on the public debt
with it, and perhaps sresume" in it
to some extent--that is, redeem the
Greenbacks in it. As soon as he does
this the debacle will have commenc-
ed. The greenbacks having lost. or
seeming likely to lose, their gold
backing, they would begin to 40.
proximate moro or less rapidly TO
the value of the thing in which thcv
wers likely to be paid ; or in other
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