New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-12-27
GOLD THE COIN OF The FATHERS.
THE SILVER DOLLAR DELIBERATELY DEMoNETlZEI
BY JEFFERSON AND MADISON.
IBY TELEGRAPH TO THE TRIBUNE.l

tBY TELEGRAPH THE TRIBUNE.l
WAsUINGTON Dec. 20.-A letter given herewith,
written by Mr. NJ. V. DAVIS, special employee of the
United States Mint Bureau, to DR.. Linderman, Is
interesting at this time in connection with the pro-
posed reconciliation of silver.
reference TO the report of the Director OF tn
Mint for the year ending June 80, 1876 shows that
the suspension of the coinage of dollars from 1900,
when only 321 of them were issued from the Mint
TO 1896. when only l 900 were coined. was not &C
cideptal but was in Pursuance of policy approved
nv Presidents Jefferson and Madison and their success
sors for thirty years. During this period, when the
Mint ratio of silver TO gold was one to hteen the
silver dollar was the cheaper coin, and had the
Mint actually been opened for the free coinage OF
silver bullion, gold would have been expelled and
silver dollars would have replaced eagles, double
eagles half eagles and quarter eagles IN the crcua-
ton of the country "The fathers" who are now
credited by the advocates of the silver dollar with
so much reverence for this particular coin,
stopped its issue at the very time when
it would have been able to maintain
itself in circulation The only that can now
be conecturcd for this suspension is their apparent
conviction that the commercial and monetar' IN
forests of the country demanded that gold should
lie the standard measure of values. The acts OF
1884 and 1897 gave the sanction of law to what
had already been for thirty years the practice of the
United States MINIS and of many successive Sccre-
taries Of the Treasury.
The brief chapter from the history Of coinage in
the United states, furnished by tins letter proves
that the silver dollar instead of being the dollar
of the fathers" was deliberately Economically the
fathers for more than thirty years, when the laws
of the United states were such to make its circu-
lation possible and that at the end of that thirty
years the policy which had been pursued from the
establishment of the United States Mint to 1886,
with the exception of about twelve years,
Toned bv law The act of 1913. therefore instead of
changing the coinage policy OF the United States.
was On full harmony with what that policy had been
for almost seventy years. Ina other words, the sus
rensou of the coinage of silver dollars by direction
OF President jefferson IN 500 the letter of Presl
dent Madison, written IN 1906 published two or
three days ago. the acts OF 1854 aud 1887, and the
act of 1873. are all parts OF one harmonious coinage
policy. The last of these acts simply prevented
that policy from beng reversed during the last i've
wears by the unprecedented fluctuations i'm the mar
KIT value Of silver. The following is Mr. Davis's
letter:
MINT TIE UNITED STATES,
PHILADELPHIA, Dec. %, ISIS
The Hon. H. r. LNDERMAS, DhCctor ofhe A'nt:
SIR: In answer TO your communication OF yesterday
send the following eXtracs from the old books and cor
respondcnee OF this Mint The first reference lind
fc inquiry contained IN your letter Is III cOulmunicd
ton nom Robert Patterson Director OF the MINT, dated
April ? lSOI to Thomas isoni Iis'ronC .!
Mini has been and sun continues TO be in con
formy with your wishes and instructions. No
eagles nor dollars have been struck during the
last two years QuaItcrdpaTs dimes, AMI ha,fdmgs are
ruck whenever desired by the deposition NOT partlc
ul9ry objected 10. But truth nearly the whole o. oar
silver bullion jchIcy Spanish dollars, comes from the
banks and il seldom they VII take less than la-Go!
lar." IL IL evident from the auove extract that the
Director of the Mint must have received INSTRUCTIONS OF
kud to stop coiua-e OF SLY a., o. as out can ma
no such paper &c in this Mint VIII prosecute EF
examination still further among the documents IN the
loft -,
rector Samuel Mo1Ic in Wicl he refers 10 the mcrus
sion of the dollars follows " me coinage ~ nall dot
lars I'D preference generally TO that OF she dollar WIS
adopted IN year 1902 ON suggestion, II Is under
stood from source entitled TO the highest respect hut
tbs form Of silver cOiu would impose beneficial re-
fraiut its exit from the country The cnc II IS be-
lCved has justified these preferences and oilers still an
adequate motive fOr adhertng L. IT.
Etgrrin- 10 the annual report Of Director Patterson,
dated Iauuary IL 1907, hud that the coinage OF dollars
was iutcrmtled RON 1893 until the close OF the year
Is3G and Patterson SAWS "Tue unit OF monetary
ev.fcin was rarely to De met with III circulation" The
lat coinage prior 10 40, utcrmsslOn, as well as am able
10 trace IL by the correspondence was an the quarter
en- cd March 81 sol and the resumption OF IT'S coinage
W.. il lie quarter ended December. 1886. sh'h en-
drayor find all the cOIIcspoudeuce ON The SUBJECT ana
write Won without delay. Very respectfully,
NJ V. DAVIS, special EmpOye.
so il appears that the suspension OF the coinage Oh
silver dollars was in 'strct conformity" with the
"wishes and instructions" of President Jefferson, who
must hereafter be stricken from the list Of 1.-THE
fathers" who are cited as advocates OF the silver
dollar.