Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1893-11-09
Opinions on the Effects OF
Repeal.

Repeal.
Two sets of prophets have informed
the country what fruit this bin viii pro-
duce. Optimists III speculation. and
men whose only political opinion is vor-
ship Of the Pres dent. are sure that the
repeal viii usher in an era of the grand
est prosperity ever known; that stocks
will advance, prices Use. failure cease,
trade revive, and the wheels in mills
now silent viii ever where begin TO
turn. Every body hopes it may be true.
The silver Senators and their supporters
in the Democratic party make other
/ predictions. They predict hat the suf.
fering Of mankind will surpass all past
records Of disaster; that INDIA viii shut
GU silver by duty; that the price will
fail SO far as to close Ell our mines;
that this further disqualification Ut sil-
! yer as money will depress pricesof pro
duets and labor throughout the civilized
world, and that the suffering and loss
in this county X Il be SO fgightful that
at the next opportunity the people will
turn TO free coinage for relief.
The truth is probably to be found be-
tween these extremes. The quantity
Of coin used as money in the CONNER
eial world no longer makes prices
Confidence counts for more millions
than coinage Business makes money
for itself, when it has the assurance of
stability. Silver may decline in price,
without aaeciiag to the smallest tract
ion OF cent the value of any dollar ex-
changeable fer gold. The silver States
may find, IS the wheat States and the
cotton States are now learning, that it
pays best to produce no more of par.
ticular product than the world requires,
and that 50,000,000 ounces of silver
may bring moro money than 60. 900, 900
ounces. Nor vi it be N az respects q
disaster to most of the silver produc-
ing States if they are pushed by the
progress of events to rely more on agri.
culture and manufactures and less upon
the hazardous ventures of mining.
1t is not likely that all the bright
hopes of the optimists will be realized.
The troubles of trade and industry have
been due in part only to uncertainties
about coinage and currency, and even
those uncertainties have not been entire
ly removed. There is still the prospect
that some of those who have voted for
repeal of the purchasing act, like Sena-
tor Hunton, will proceed at once to
light for silver" in some other form.
Limited coinage will next be urged, and
coinage of the silver held on deposit as
"a trust, and then unlimited issues of
State bank paper, and all these posi-
biites of evil will tend to lessen the
good effects of the vote for repeal. And
bt hind all questions of currency there
is the question of duties on imports,
which directly threatens thousands of
industrial works, and the livelihood of
millions. Meanwhile, the effects of
past disaster canno. be Immediately re-
moved. Overconidenco regarding
the results Of repeal may not end
well.
But the sense Of relief from part Of
the apprehended dangers will be likely
to give 3 distinct aud most gratifying
stimulant to business. and thus will help
the country greatly to withstand any
trials that are to come. Confidence
will increase without doubt, and within
limits confidence creates business and
makes prices The opt;mists will pro
badly be found more nearly tight than
the silver men in their estimates of the
future, and the country will find reason
for gratitude to those who have done so
much, by passing the Repeal bill. to
clear away uncertainties aud perils.
The President deserves honor. the more
because he has been al war with a ma
jority of his own party The Repubh-
cans in Congress, and especially those
who have endured the long strain in
the Senate, deserve honor because they
have proved faithful to our interests,
though at times partisanship might
have prompted a different course.
Their reward viii come the appreci-
alton of their fidelity by intelligent bus
mess lnen Of all parties. n. Y. Trib-
une
THE roster contract business seems to
have chsngea into genuine rooster