The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-11-02
The .Anti-MonoPo1ist.

THO -AhG1.Mo1
metals, was q sovereign act, and that the
stamp was fixed upon coiu to establish
its legal value, as dollar, and the reaa
son given by the learned gentlemen is
az good as can be found, but this cannot
require any discussion, when, as it does.
it follows the statement, of supreme
authority as necessary to make it; to
stamp it legal dollar.
Besides, and Notwithstanding the So
called language of the commentator and
learned Judge. And also it is true, paper
was the only dollar had for over 25 years
prior to 1928; and it was in effect the
legal dollar of the country, during which
time we are informed by history. Eng
land more than doubled her wealth and
prosperity and paid off three times more
of her great debt. than during all the
time since. Let it be explained.
So too that Congress alone has power
to coin (make) money, regulate its value
determine the amount of alloy in coin, is
admitted and mas been ever since the
constitution was adopted.
The Federalist No. As, tells us: s'The
right to coin (make) money was here
taken from the states under
an exception in favor of an exclusive
right of congress to regulate and alloy
the value Aud we are assured by same
article, that it was an immense improve
ment on the plan which allowed each
colony to determine what was dollar !;
and was to prevent what? A diversity
of the forms and weights of the circulate
ing pieces.
Again in Federalist No. "a, we find
this query: "Why declare that things
shall not be done which there is no pow
er to do? Now it cannot be denied but
that the constitution states distinctly,
that. mo state shall make anything but
gold and silver coin legal tender in
payment of all debts"
What does this mean in the bright
light of the quotations from the Feder-
alist?
Does this cause mean that only the
states had this right to determine what
was legal dollar? On the theory of
Dullionists it must be SO, but we prefer
to assume that 1t meant that the people
had the sovereign power to prohibit to
the states, the exercise of any powers
inconsistent with the supreme power of
the general government. And that the
intention was very plain, that the gov
ernmeut alone should have authority to
say .'what is dollar" a legal tender.
And this is confirmed by the great Dan>
iel Webster, in constitutional view OF
the question. in which, he said, ''the
whole control over the standard of value
and medium of payment is invested in
the general government. And Con-
gress has never hestated to say what is
or shall be legal dollar in payment of
debts 1t has been done so under Wash
ngton. jefferson. Madison, Monroe,
Jackson. Tyler. Polk. Fillmore, Pierce,
Lincoln, johnson and Grant.
1t Congress has the constitutional right
to say that II pennyweights and 4 12
grains of silver is Il legal dollor, who can
then question its equal right to say that
ten pennyweights shall be dollar also.
This may be disputed, but where is
the authority, the law, the logic, or de-
cency in view OF so many acts under this
power The facts are plump, this power
is bounded by the will, discretion and
plans OF congress or the sovereign pow
er in this, or any other nation. All his
tory and authority proves it, common
sense and honesty must be compelled to
admit it soon. In view OF all these facts
what becomes of the peculiar constitu>
tional virtue, that many claim for metal,
gold, silver, nickel, copper and even
brass who would have us believe that the
pleasure or power of Congress is limited
to metal.
The dollar is the Indispensable instru-
ment of the nation. it is the one prime
lever of every civilization. an indispen-
able tool in war. in commerce. in peace
1t is the implement OF exchange, the
grand and only true tool of trade. The
OF the thing sold, or ex>
changed in value.
And the history of the worlds expe-
rience was well understood By the great
good men who drafted and enacted our
therefore they gave Cons
gress full power on the subject of dol
lar. This constitution no where states
that nothing shall be a dollarjunless made
of metal. Nobody ever denied the power
to issue treasury notes and give them
many attributes of dollar, who then
may say on authority that it has not pow
er to give them the highest, most per>
feet and all the attributes OF dollars
have seen no metal has the attributes of
a legal dollar until stamped by law, it
may be coined with the weights and
beauties. or adornments. but without the
superscription OF the sovereign, it j. q
labor lost. it must be stamped money.
Would not this seem to answer the ques-
ton. what is dollar?"
Hon. S. P. Chase said at Louisville,
Ky, in 1864, az coined the credit of
the nation" The people to whom he
talked understood it too. they knew well
our greenbacks were enabling Us to out
live them. and when hear men crying
"rag>baby, greasy-greenbacks." or
when the same men with contemptuous