The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1876-09-28
THE GREAT CRIME.
HISTORY OF THE ELL DEMONETIZ-
ING SILVER


Mr.. Hooper. of Massachusetts, Febru-
airy 9Th, 1872, entitled ga bill to regu-
late the minis, assay offices, and coin
age of the United States" On Feb
ruary 18th the bill was called up and
made special order till disposed of.
On April 9th, 1872, Mr.. Hooper got
the bill up again, aud in his speech
said: "Mr. Ernest Seyd, of London,
distinguished writer who has given
great attention TO the subject OF mints
ana coinage, after examining the first
draft of the bill, furnished many val
nable suggestions, which have been
Incorporated in the bill" Mr.. Seyd
is a writer in the interest of one of
Europe's heaviest banking tirms.
Mr.. Potter, of New York, opposed
the bill. 81 was and am at loss to
gather from anything l know or can
learn that there is any necessity for
the adoption OF the measure now.'
and lie denounced the billa as s'cover"
to something he could not understand.
The consideration of the bill at this
time was interrupted by adjournment
of the House. On May 9th, 1872, Mr..
Hooper again called up the bill and
said: 81 do so for the purpose of Of
iering an amendment TO the bill in the
nature of a substitute"
Mr.. Brooks asked Mr.. Hooper to
postpone his motion until Mr.. Potter
was in his seat, as Mr.. Potter was Oh
the committee with Mr.. Hooper, but
did not concur in the substitute.
Mr.. Hooper said: "I cannot do so.'
Mr.. Holman-"I suppose it is it,
tended to have the bill read
Mr.. Hoe peril hope not. 1t is a
long bill, and those acho are interested
in IL are perfectly familiar with all it's
provisions"
Mr.. Kerr.-"I want the House to
understand that it is attempted to get
through this bill without being read"
The Speaker-'Theg gentleman from
Massachusetts,, (Mr. Hooper, moves
that the rules be suspended and that
the bill pass, the reading thereof be-
ing dispensed WITH
Mr.. Randall-'Cannot we have a
division of that motion?"
The Speaker-"A motion to suspend
the rules cannot be divided"
Mr.. Brooks-s'As there is to be no
debate, the only chance to know what
we are doing is to have both the bill
and the substitute read" lie also said,
81 am very much in the habit of voting
no. when do not know what is GO
ing on"
Finally the bin was pushed through
the House, then largely Republican.
without any debate, without being
read even. and without any intimatien
by any one. that silver was thereby
being demonetized. 1t was rassed by
the small vote OF ll0 yeas 10 l3 nays.
The record does not give the names of
those who voted, but it was opposed
by Potter, Brooks, Kerr, Holman and
Kendall, all Democrats, who did 30
for the single reason that they could
not learn what the bill contained.
Only three of the sjxty-seven Sec
tions OF the bill relate to the silver
question. Section IA declares that the
gold dollar shall hereafter be our unit
of value. Section Is provides that the
silver coins shall be trade dollar, a
half dollar. a quarter dollar, etc.
and said coins be legal tender at
their nominal value for any amount
not exceed ing So in any one payment.
Section IL declares that no coins either
of gold, silver or minor coinage, shall
hereafter be issued from the mint 9TH
er than those of the denominations,
standards and weights herein set
forth. Thus the old silver dollar was
abolished, silver demonetized. and
gold made the only standard of value.
The bill went to the Senate, and on
May 29tb, 1872, was referred TO the
Committee on Finance, where it re-
NAMED until the next session. In the.
interval nothing was heard of it by
the country, save that a ''tradc dollar"
was being created for the benefit of
our trade with China. At the next
session Of Congress, gu December 10Th
1872, Mr.. Sherman reported back the
bill. He thought the reading or the
printing of the bill unnecessary. On
January 18th the reading was finished.
. - Ill, :, >! i
touch upon Tie real issue, and SO the
bill! passed-every one apparently i'm
total ignorance OF the evil work it was
accomplishing. Such is the astonish
ing history of this English bill in an
United States Congress. 1t was a
fraud from beginning to end, and
should be speedily undone.
Thus silver was dcmonetized i'm 1873
without discussion by single news
paper or by a single Statesman" al
though the bill was pending whole
year, from February, 1872 to February
1873. and the people. three years there
after, first learned in 1876. with won-
der and astonishment, that the old sill
! yer dollar, which had always been a
/ legal tender for all debts, public and
/ private, and our only unit of value,
i had been abolished by act Of Congress.
I Mr.. Landers, of Indiana, proposed
| an amendment to restore the sdollar
/ of the fathers" which came up for
consideration in the House on'the 18th
of July, 1876, which amendment is as
follows: sa
4" Ant3 froritled further, That the
Secretary of the Treasury is directed
to authorize the coinage of standard
silver dollar of the same weight and
tineness rs that i'm use January l, 1861,
\ !