Weekly Chillicothe crisis. (Chillicothe, Livingston Co., Mo.) 1878-19??, 1882-05-25
THE SCIENCE OF MONEY.
Warwick tin n The American Sentry.
THE SILVER DOLLAR.

Warwick tin n The American Sentry.
THE SILVER DOLLAR.
From April 2nd, 1892, until Februa.
ry 18th, 1878, a period of eighty,one
years, the silver dollar containing 37l5
grains pure silver, was the unit OF
value and of the money of account in
the United States, the law so making
it, and providing that all proceedings
in courts of justice so relating to money
and accounts, should be so kept. They
were so kept.
But on the 18th of February, 1873,
without the knowledge or consent of
the people, their dollar was demone,
tized Or unmade by law; and it ceased
to be the unit of value o. the standard
of payment. This was wickedly done
in the interest of shylocks 1t was
kept secret from the people They ul-
timately learned Of it, and demanded
its restoration to its original position.
In 1873 this was done. In this case
the money Of account composed of sill
yer was both made and unmade by
law. When demonetized, the metal
went to 20 pei cent discount. Since
1t was IemOneti2ed, it has been as good
as so.called dollar of gold. 1t will
purchase and pay for anything that can
be paid for with gold; and it will pay
any debt, public or private, that gold
will pay. These facts add to the al
ready abundant proof, that law makes
and unmakes money without regard to
the commercial value Of the material
composing it.
TIE TRADE DOLLAR.
The law of 1873 created a trade dol
lar of 400 grains standard silver. 1t
was made legal tender for only five
dollars. In 1876 this dollar was de-
mOnetized. Silver bullion had then
been forced by the Bank of England
to twenty per cent discount. The trade
dollar, having lost the support of law,
Immediately went to heavy discount,
The loss fell upon the people holding
these dollars. They had TO pass them,
if at all, at their metallic value. The
law had unmade them. They were
not money for any sum. In 1873 the
old dollar of 4l25 grains standard sill
yer, was remOneti2ed, after a severe
struggle of the shylocks to defeat it.
The difference between the value of
metal mOnetized and that demOnetized,
wa now made to plainly appear in
these two dollars. The trade dollar
had seven and half grains standard
silver more than the old dollar. The
price Of silver had been improved by
reconciliation in the United States.
The trade dollar was worth only from
eighty-ive to ninety cents. The dollar
of 4l24 grains, y grains less than the
trade dollar, was and is one hundred
cents for all dues and demands of the
government and of individuals. Tru-
ly the law makes and unmakes money
without regard to the commercial val
lie Of the material therein,
We often hear shylocks say, We wish
a dollar which is worth one hundred
cents. But we ask them, what are
hundred cents worth? They are worth
just what the law makes them worth,
and no more, as money. One hundred
cents are made by law of the value of
a dollar Of silver, gold or legal tender
paper, Their commercial value, as
our law makes them, is about twelve
cents. When a dollar of silver or Of
gold is exchanged for IA dollar of cop
per cents, the holder of the dollar who
makes the exchange, gets, of CONNER
cial value, about twelve cents of cop.
per and no more. This is the value of
IA dollar as paid for in cents. One dol
la Of gold, silver or legal tender paper,
will purchase enough copper to make
just eight hundred of our cents. The
law makes and unmakes all money.
TIE FIVE CENT NICKEL PIECE.
The law of May 10Th, 1866 ll4th Stat.
utes, page AZ created five cent piece
composed of seyenty-llve parts copper
and twenty-five parts nickel, A pound
of this metal cost about seventy cents,
1t coins just one hundred of these
pieces, which in money are five dollars.
Deduct seventy cents from five dollars
and four dollars and thirty cents re-
main. This is the difference between
the commercial value Of the metal and
the legal value of the coin created by
law. Millions of this money are now
created by law. 1t is the most useful
coin ever issued from the mint. 1t is
greatly preferred to the small five cent
silver piece. We would not know how
to conduct our marketing but for this
money. Law makes money, without
regard to the value of the material
which it is composed.
COPPER COINS OF THE UNITED STATES
We must not consider copper coins
TOO i-ainr'fnnrt ~ NOTICE They com
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