What was the result ?
A Herman traveler who visited the
town soon after this says the conse
quence was a tumble in the value of all
property: the Dallas of the neighboring
district kept away from the market and
this caused distress and embarrassment.
Did not the cheap money raise prices
and boom business?
On tho contrary, silver disappeared
and trade was checked.
If the people thought the government
would not be able to redeem its promis
sory notes in gold, would i( make any
IOWA COUNTY DEMOCRAT: MINERAL POINT, WIS., JUNE 20, 195.
difference in their treatment of tho dif
ferent kinds of currency?
It would indeed.
Has it ever happened ?
Several times when it seemed likely
that congress would piiss a bill for tho
free coinage of silver, people who held
the promissory notes of the government
got them redeemed in gold and put the
gold away.
Did anything of that kind happen in
1803?
Early that year tho stoek of gold in
the treasury was so low that people
were afraid it wouldn’t hold out, and
banks or individuals who held "Sher
man” notes, or greenbacks, turned them
into gold at tho treasury.
Groat Intercut In the Currency Question.
Not in 1)0 years has public interest
been so centered on one question us it is
now upon that of the currency, or rather
upon tho question of whether or not wo
are to have free and unlimited coinage
of silver at tho ratio of Hi to 1 with
gold. That this interest is both wide
spread and intense is shown by tho al
most marvelous sales of sound and nn
sound currency literature.
