The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1880-12-09
An Honest Dollar.

We can have honest money of gold and
we can have honest money of silver; but
there is no honesty in the money when each
gold dollar is intIinsically worth dollar,
while each silver dollar is worth only 80
cents; and when the law enacts that the
silver dollar shall be legal tender just the
same as the gold dollar.-Hinds County
/ Gazette.
/ We are surprised that our habitually
clear-headed contemporary has taken up
with this shallow pretence of the 6nan-
cial humbuggers. 1t was devised in the
interest of the bondholders to secure
the collection of their debts, principal
and interest in gold, and is their favor
tie weapon for making war upon silver
! money, to contract the currency and
l thus to enhance the value of the only
money that would remain for the col
lection of their debts. No complaint is
heard from any other class that the sill
yer dollar does not contain more metal.
The cIamor is confined exclusively to
the bondholding olgarchy. 1t is con
sidered good enough for the laborer, the
producer, and everybody, except the
| favored few who own government bonds
and pay no tax on their investment.
At the beginning of the government
in 1892, one pound troy of gold was
worth only 10 pounds of silver. This
relative valuation was fixed by such
statesmen and fnanciers as Hamilton
and Jefferson after thorough investiga-
ton. 1t continued until 1884, and
from that date until 1873, 1 pound of
gold was made by law worth IS pounds
Of silver In the latter year silver was
demonetised in the United States sur
reptitiously by the free application of
gold to the easy consciences of members
of Congress who were in the secret of
the scheme The bonds were payable
by the laws authorizing them, and by
the pledge written across their face as
every one will see by looking at them,
Gin coin of the standard value of the
1 United States with interest in such
CON-" which included gold and silver
the latter of the precise weight and
/ fneness of the present dollar. The pur-
chasers then preferred silver to gold,
because it was worth 3 per cent. more.
The change in the relative valuation
was caused by the denomination of sill
yer by Germany, Denmark, Sweden
and other despotic nations of Europe
that Joined in the movement. 1t was
then that corrupting influences were
put in operation by the purchasers OF
the bonds to demonetise silver and to
declare that it should no longer be a
| legal tender. If there had been no
bonds issued, and no other use for
money except for the ordinary business
of the people, and the government, the
destruction of silver money would not
have been thought of, and it would
never have entered anybody's head that
the silver dollar of 412A grains was not
"honest," much less would the clamor,
which is but a shallow preteXt, have
been raised for adding more metal to it.
For eighty odd years, silver had been
the unit of value and a legal tender for
all debts, public and private, until 1878,
when it was suddenly struck down, the
people not dreaming of the villiany of
which they had been the victims.
Driven by public opinion partially to
remonetise the metal, the same party
have now taken refuge under the plea
that it does not contain enough grains,
and is a dishonest dollar. We main
tain that it il ''honest." 1t is lQ0cents,
and is legal tender. 1t was so deemed
by the purchasers of the bonds under
the laws of the United States passed in
| 1870, II, and II, which constitute the
basis of the subsequent transactions.
If it was increased in bulk its enemies
would take refuge under some other
pretext. The enemies of silver are the
bond oligarchy, or the agents who speak
| for them. No other class is dissatisfied
/ with the dollar as it is. The bonds are
payable in it. or in gold of 910ths
standard fneness, at the option of the
government We are in favor of stand
ing by the bargain. There can be no
compromise upon this question. As
for the bondholders, they ought to be
satisfied. They purchased the bonds
in greenbacks when they were worth
from 40 to SO cents on the dollar in
gold and silver. Now, we propose TO
pay them dollar for dollar in the latter
metals, in accordance with the strict
letter of the contract, and what more
can they ask?
'iT Is interesting to be informed on
good Republican authority that if the
Republicans succeed in organizing the
next House they will proceed to steal it