, 1876-08-30
SILVER.
A REPLY TO o1,RrN SKINNER.

ths iattct contained 411H grains OF The nctals In
3s nsst esafSs e .set s'e;s soss f.
metsl, and rroAI.ttag ts t.,1< II .frtx sata: eIa
fs r M xss y ses T.; rsm ss sa;
cosr Of 412f grains the character of cga.tendct
During tho lssi Two yeats. from causes impo:stbls
bly ..ioprselate1 IN. value, ,by reaso1 oi which
& Ella. e s;.r 4. :a snft as.a sf eoS.ss Sffsss &
tender silver dollar and 10 enable &c United Sfate,
to thtr bonds with called silver dolara TINT
er less than those with which tho Government
execution.
ton arc nearly all incorrect. When the bonds
wcrc issued the only legal standard ef ra'us for
the money Of the United States WAS the slver
dollar Of 412h grains, J ths aat''es' Of 800
1,ooohs, contaiaing 371A gratas ef rars filter.
And not only was th.s go ut TINT time,
but. from the foundation Of our
Government, tho silver dollar containing
871A gralna Of pure silver Lad becn the only
INIT OF value Of tho money Of the United
States. .....
For tho act Of April 2, 1y9e, establishing
mint provides for the coinage ofdolidrs or aatss,
.eaci, to bo Of the value Of a Bpanish mtlled
dollar n the sane was then current, and
to eunartn 8n grains and 4-16th parts Of grain
of pure silver, or 41e grains Of sla,ufard st.xr.
That act also authorized the coinage Of gold
coins, viz: the eagle, halt-cuglc, and quarter
eagle, and prescribed their weight and
nnencss, and that they should be legal
tenlcr, the cagle for $40, and tho
other gold coins In proportion. But no Rold
do!lars wero eyer coined until the ast Of as4o
authorized such eolnago TtoI1saos u a. fe,
authorized by law" etc. The weight u said
dollar ms to be 25.8 grnins Of standard gold.
The amount q pars .letr e contained n ts ths
American silver dollar remained nnalto5ed 5 until
| By the act Of 1879 That net provides that The
gold coins Of she United States shall bo gold
! dollar, which, At tho standard weight Of 258
saan' hat saa .bs + tbs .ys4 s soas & 'i s;
United Staten shall DO ~ trade dollar,
the weight ot the "trade~dolfar It 40 grains,
but makes the weight Of the !.ta smaller coin. ths
dollar 19a grains, and smaller coins ia proper.
ton: and provides that "tte silver coins Of tho
United Suites shall be legai-tcr3sr IN sums not
exceeding Is a' .ny Sns ,iasn ana aso
Issued than those named In tho act.
Is, therefore, not true that the act Of 1873
tsincra.sel the weight" OF the American silver
dollar. It simply abolished It, and authorized
TINT that act "prohib!ted the isst,e Of silver
coins Of different proport.onate weight from
thut of tho trale-loilar" for gil the silver cona
therein authorized arc, OF different proportion
ate weight, and ars merely token Or repTs'essass'
| coins.
III. Skinner says; "The practical effect oi
this legislation Fas to taks from the silver dol
ar Of 412k gsaa. The character t. o. lsgal,ten
f,1rtisr co,nago. is indesd doubtful Theth
or such dollars, co!ned previously to 1873, woalt
not still bo held TO 10 legal'tenaer, provided
such dollars ucro now TO BIS procured.
Il ts not true 1t Is proposed to amend the ac
of 1879 50 as to enablo tho United Stntes q ts
pay THUR bonds with so.called silver dollar
that would have Nh intrinsic value and pnr
chasing power less than those with which tn
Government promised TO pay lts obligations q
lie slme Of THUR execntidn,h Tho proposal t,
restoro tic ailyer dollar to the position It occl,
pied before the Ac. Of 1873 Eas passed, making
shs inoney ot tho United States, il not surh
> Al ths time the bonds spoken Of were Issued
that tlollar was thu only legal standard Of yalu
Or uun Of tbs money OF tile United State:
, Tho bonds obllgate tho Government 70 pay dol
. | lara; and tic question comes up, "What d.
: tho word dollar mean Ut TINT t!n6i'' BY .rofe.
euce to tho law.tlctionasy, we flnd that
moncy-unit Of the United States as Yeprescnte
By silver coin containing 4l2H gralns Ut silve
, Of the fnencss Of 9ottl0Uthsi and thls was tn
meaning of me es Wo5a aaF 9a unsa' ~. haP Possa
me aet ~ io1o1 mni ~ o1,t NJ stS r. sso1 "s,
trans!erlea tne uniEFno .5so aua.J W sre W
nItas, NY a!su usp'''S" t''" 'H''' "o'a' ~ u
S legal-tenuer qtatIty' !.
NOT true tsat sa9sr oo''ats ! naS1 a.. ~ ~ !,
tE1ntlc yaiue ahtl pnseGssaK po~es i.s Ut ss
lhose WIN whien Ine 10 nosgrment ..,a R1nnnes, .
. t!on." Silver has today purchasing powsrl
J, measured W she pfcs VI nti'et eoHlihgatie ".
/ greater Iran u na4 ~ tne tne tse oo.as ~ l we'
II lsat'ca. aeasulca ~ ~ htaMuasa . H. ~ g11s'
y sppeafa 10 nave noPTetateui oat tns u 1uo !
- Ms ateSeat4 " ~ p@feaasn8 poan q Ro
!; wAsen nas n Stxus hstsotS oss
" causcsl by the ptohioitlon o. the O.