, 1876-08-31

Tho discussion Of tho silver question
through tho columns Of TIE TRIBUNE by
various gentlemen has been conducted with
much ability; but the opponents Of silver
coinage have persistent1y ignored, except
where they have denied, tho fact TINT the
American "dollar," the standard unit Of
value by which other values wore measured,
was, from 1899 to 1879. the silver dollar con.
taining 87l{ graiua Of pure silver. Tile
weight Of the coined dollar was changed
several timcs, finally resting At 4123 graina;
but the weight OF pure silver contained in
tho dollar WINS mover changed from the be-
ginning, but was always 37l4 grains Of pure
silver. In tho letter Of Ms. Wusup pub
lished in The TRIBUNE Of Aug. so hs thus
clearly and accurately states the truth Of tho
case:
Al tho tmo The bonds spoken Of wsra issued,
that dollar tho only legal standard Of value
uatt Of tho money Of the United States. Tho bonds
obliyats tic Government TO pay dollars; and the
question coues up. "What did the word dollar
mean At thnt umos" Dy referring to the law die
tinpAry wa nnd that it meant, At tho tEmo amid
honda weEa iasucd, tho money unit Of tile United
Statea a. represented by s!lsef coin containing
41an grnns of silver Of tho dncncss Of 900 1o0oths
and this was the meaning Of tho word "doltar"
until tho paaaaga Of tho act OF 1873, which, ~ We
haso seon, transferred tho 0it.ofvalue quslty to
tho gold dollar, and also dcp<Yca tho atlyes dollar
Of Its leghl-sendef quality.
This coyera the point that the "dollar," :"
the unit OF tlla American coinage, waa the
dollar which, no matter what its weight
may hayo been, always contained 87l{
grains Of pure silver. Tho "dollar" OF
the United States, therefore, Was 3714 graips
OF pure silver. This WAS never changed un-
til 1879, whom that dollar was abolished, aud
gold dollar Of a prescribed weight was
substituted. Tho United States have had
| several "dollars": l. The standard dollar.
the unit Of American coinage, containing
371{ grains Of pure ailvor. 2 The gold dol
lay, authorized for the first time In 1870, aud
| weighing 25.8 grains Of standard gold, or
rs. ~ grains pure gold. s. The oliver dollar,
composed Of two half dollars or four quarter
dollars, authorized by tho act OF 1858. which
weighed 8B4 grains, and contained 845.6
grains Of pure silver. l. Ihe trnae dol]as,
weighing 42O grains, and continuing a78
grains OF pure silver. &, Tho paper dollar,
All these varieties Of dollars wore or are now
!egal.tender, tho gold aud paper dollar for
ail amounts, the trado dollar and halt.slollars
for $5 each, and tho old silver dollar, until
abolished, WAS lsgal-teuder for all amounts.
The gold dollar was not the legal unit
Of American value until tho old silver dollar
WAS abolished In 1873. and then tho gold
dollar, by express provision Of law was made
The legnl unit An American dollar, from
l7o2 to 1878, was, legally, a7l4 grains OF pure
silver. That was the standard dollar .of the
United States. Since March, 1873, tire
American dollar has been, LOCALLY, .3.2.
grains Of pure gold. That is now The stand
ard dollar known To tie laws Of the Unitet
Btatos.
In another part Of Mr. W1Nsa1p's admisa
ble letter he says:
There Il one clsaa Of tho bonds OF The rn!tsi
Btates-I bQliess It IL the bs OF 1870, payable II
1B0G-that nre. In express terms, ''psyAblc II
cola ot tho United States, Of ths standard weigh
and 6nspsss Of the year 1900" lrhe Abovs state