The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1878-08-23

the uitcd States has been vastly IN
creased within n recent period, aud they
have been taken by the people at par
without the slightest inumation that
John Sherman and III. X. Linderman
were preparing for them surprise that
would rob them Of ten pei cent. Of their
hard earned wages. Such, however. Is
the fact. When tho trade dollar was
first coined II was made legal tender
to the amount Of five dollars. This was
in 1878, and in July 1875, its legal tender
character was repealed. Since the re-
'monetization Of the silver dollar of 4l2i
grains speculation in trade dollars COM
mcnced on large scale. Sherman and
Linderman. IL Is presumed, informed
the banks, or such Of them as were not
posted, that good thing was In sight.
The first step TO be taken was TO pur-
chase the trade dollars MS bullion, for
such the act OF July ~, 1876, made them.
Then they were to be distributed among
the people, who unsuspccting, would
rapidly take them at par. This done,
Linderman would issue his circular Civ
ing the information that the trap had
been sprung and that the holders of
trade dollars could get for them the
price of bullion. The circular says
"1he United States trade dollar also Is
not legal tender, and, therefore. has
only a bullion value. The standard
silver dollar, being legal tender for all
debts public and private, is received Al
par at all government Offices in payment
OF dues, differing In this respect from
Mexican or trade dollars, which are not
nj ~ 1rIt safI Ne
all other foreign silver coins and United
States trade dollars. are purchased az th,.
minis at Philadelphia. San Francisco and
Carson. and AT The assay Office at New
York al The equivalent OF Loadon rate
for silver bullion on the day OF purchase.
less onc-half OF one cent. per ounce OF
fine silver contained. All silver coins
So purchased are melted in an ASSAY. aud
the seller paid for the fine silver con-
tanned, in standard silver dollars
just 10 what extent the unsuspccting
people nave been swindlcd by this
master stroke of John Shcrman's scoun-
drclism II will he difficult TO ascertain.
Tor there Il no data as 10 The amount Of
trade dollars III The country. IL l. stated
that "frQm the commencement OF the
coinage OF trade dollars. July. 1878. 10
the close OF the fiscal year, June 80. 1877.
<24.5is.35 had been struck" and the
are that several millions
rcurin in The country and are now In
the hands Of the people, for 1t Is fair 10
assume that I.inhcrman, who l. Sher-
mans tool. would not issue his circular
Till The banks had got lid ofiseir pile.
Asa radical swindic, few have been
more adroiily managed. The profits.
" wlich must be large. will doubtless bel
divided between Sherman and
Lindcrinan, and every man who oilers Al
trade dollar now, for which he gave 100
rents. and Is told that IT l. worth bu,
W cents. NAV set il down as a radical
steal. and thauk his stars that The amount
Is not larger. II will be noticed that the
Of the trade dollar took
place July -. 1876. and that no official
notice OF the fact was given by Tindcr-
man until JULY 25, 1874. and nnt until hy
lie distribution OF the trade dollars
among the people they are compelled t0l
bear the entire loss. IL Is not surpris.
ng that the matter has aroused the in
iignation Of the victims Of the Sherman
Linderman-Shylock gang. There il al
.ool, cruel. ioot-pad generalization about
he swindlc that lifts IL to the rank of a
irst-,lass radical transaction. The
country now enjoys the financial spec
acle Of the government purchasing. with
dollars Of 4l21 grains, worth 100 cents,
ra,le dollars of 40 grains At 80 cents. orl
he price Of bullion. The dollar Of 4l2jl
grains is fiat dollar. and worth 100I
.euis, while the trade dollar OF 420 grains
+ worth but 90 cents because IL lacks
hs fiat. II il probably the only case on
record where great and powerful gov
srnment IL a party 10 an act OF direct.
,pcn and fragrant robbery of the people
Those who now hold most OF the trade
.ollars arc working people. The ten
.ents taken from every trade dollar they
rossess means less bread, and yet John
sherman and Lindcrman have so man.
'gcd the dlsgracctml affair that the gov
'rnmcnt rcaps the benefit OF this last act
1f radical scoundrclism.
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Mcssrs. Brown. Binklcy, Bruce and
Benton. with! Gold Medal Gaar Scott
rhrcsher In one day or seven and n half