The Northern Pacific farmer. [volume] (Wadena, Minn.) 1878-1885, 1880-12-09

indefinitely after the accomplishment of the
oo1ect for which they were provided, was not con-
templated by the trainers Of the law under which
IKE any other pecuniary obligation Of the govern
m me mt a debt to be paid, and when PAID
what was said in the annual message of last year,
mat the retirement from circulation of United
states notes with the capacity of legal tender in
private contracts is step to be taken in our pro-
gress toward safe and stable currency. which shall
be accepted as the policy and duty Of the govern
ment and the interest and security of the people,
SILVER DOLLARS.
At the time of the passage of the act now in force
requiring the coinage of silver dollars, fixing their
value and giving them legal tender character, it
was believedb by many supporters OF the measure
speedily become, under the operations Of the law,
Of equivalent value to the gold dollar There were
other supporters Of the bill who while they doubted
ment s'' fair q trial. f'' with view to I stop
the coinage. if experience should prove the silver
commercial value than the standard gold dollar.
The coinage of the silver dollar under the act
ierred to- began in March. 1873 ana has been con-
per month to the present time has been $2,276,-
49, The tota! amount ceined prioE to the 1st Of
1 vas IL the 0r ns
only $25, 763, 291 is in the hands of the people.
constant effort has been made to
KEEP THIS CURRENCY IN CIRCULATION,
and considerable expense has been necessarily in
cured for this purpose butts return to the treas
ury is prompt and sure. Contrary to the confident
anticipation of the friends of the measure at the
containing 412ls grains Of silver has not increased.
During the year prior to the passage of the bill
e0rzR Ss s coinage w.ch The it m coasnea vss
from ninety to ninety-two cents, as compared
with the standard gold dollar During the last year
the n ays5ige market value Of the silver dollar has
OF the last congress in regard to silver SO far it
was based on an anticipated rise in the value Of
produce the effect then predicted. The longer the
law remains in force. requiring, as it
does, the coinage of -, a nominal dollar.
the danger that this country will be forced to accept
a. single metal as the real legal standard value in
circulation and this standard of less value than it
the world. The constitution of the United States,
sound financial principles and best interests all
require that the country should have as its legal
tender money
BOTH GOLD AND SILVER:
coin of an intrinsic value az bullion equivalent to
that which upon its face it purports 10 possess.
gold and silver the only true legal tender money.
TO Danish either of these metals from our cur
rency is to- narrow and lower the circulating medium
he Gea Of
more silver than any other country, and is directly
interested in maintaining it as one Of the two
world. It will. in my judgment. contribute to this
result if congress will repeal SO much of existing
legislation as reqqs the coinage Of silver dollars
will authorize the secretary Of the
treasury to coin silver dollars Of equivalent value
bullion with gold dollars. This will defraud no
man and will be in accordance with familiar prece-
dents. Congress several occasions has altered
the rate of value between gold and silver to
actual rate of value between the two metals. In
financial legislation every in the direction
of greater fidelity in the discharge of pecuniary OBJ
the rate of interest debtors have to pay and to in
crease the facility with which money has been OBJ
tanned for every legitimate purpose. Our own re-
cent financial history shows how surely money be-
comes abundant whenever confidence, in the exact
performance of moneyed obligations, is established