The clarion. [volume] (Jackson, Miss.) 1883-1888, 1883-02-14
Equalizing the Value of Gold and
Silver
LETTEn FaoM Hos. 3. 4. WOLF.
WALNUT STATION, TPPAH Co, MISS,
January 81, 1888.

January 81, 1888.
EDITORS CLARION: In THE CLARION
of the 9th inst, read with much inter
est your observations on the coinage
question and my attention was partieu-
larry directed to the following extract:
IF there be need Of equalizing the
value of the gold and silver, why not re-
duce the measurement of the gold dol
! larp'
In the joy this gives me, award you
all honor and credit for the progress you
have made in the right direction looking
to the unification of the two metals.
The time is now suspicious for reduc-
ton of the gold dollar and the abolition
of that royalty that has been imposed
upon our half eagle that travels side by
side with the English sovereign that
claims to have greater circulation than
all the gold coin of the world put to-
gether. Having read some monetary
literature, and taken notes of the same.
can now readily give some authorities
that will go far to strengthen the policy
Of reducing the gold dollar. Our gold
dollar was reduced in 1884 by the Ben
ton bill, and in the Paris Monetary Com
ference in 1873 our commissioners stroye
for further reduction. In all the In
ternational Conferences they have failed
to agree upon any ratio between gold
and silver. England has always been
the great dra wback. She does not want
to loose the advantage of her seignorage
IN coming the rupee of the Indies. One
writer taunts that nation for hating
three hundred years before she en-
braced the Gregorian calender. But let
us get to the authorities.
In 1869, the Right Hon. r. Lowe
said in Parliament, at is singular to
remark what number of coins in the
world approach one another in value.
The Spanish doubloon, the Russian fred 5
erick, the half-eagle of America" paris
mon. conference, 49,
Mr.. Lowndes, of South Carolina, in 0
1919, favored reduction of the half n
'agle to 1899 grains, upon the ratio of t
% to l. paris, 502.)
Mr. VIM. E. Dubois, writing upon the n
anne subject of a unifcation Of the coins Q
aid, IF our coin could be slightly re- e
luced in weight 50 as to make the half Il
agile precisely equal to the British n
'ound sterling, currency, almost ?
worldwide, would be attained. (U. S.
Non. Com. 75.) n
Or. Albert Gallatin, in his speeches q
ma writings, has often referred to the 81
OF the half-eagle. (Paris. 594. W
Mr.. kearn, said: "Without regard /
0 preference, the country he represents =
n the spirit of concession, he voted for p
ne . franc piece, because the delegates I
rom Austria and the United States be- "
leYed England would do the same E,
Paris, $50. ''' L
Mr.: Chase, said: "If the half-eage Of Ii
ne Union be made of equal weight and 4
neness with the gold sovereign Of Great +,
5rluan, no sensible injury could possi- :;
ny ARISE from the change; which. on
nc resumption of specie payment its 4
reat advantage would be felt in the d;
of exchanges and the CON :,
enlence OF commerce.. This act of the II
jhlted states, moreover, might be fol-
owed by the adoption of Great Britain
| the Federal decimal divisions. and
hus a most important advance might no to
ecured towards an international COINAGE G.
,lth values decimally expressed" TPaTis r
Thus writes Ernenst Seyd, a monetary CO
economist OF great note in the Paris Con- tn
renee OF 1878: "Mr. Sherman has nro- di
osed that the United States should alter GO
le fne contents Of the half-earle of CO
10, grains TO l12.002 grains. differ ia
ON his as to the necessity of England tn
aking Its gold coins 900 fine; the pres eli
1t standard of 9l62 might remain in
ngland, and 900 fine in America. and
also differ with him as regards the me- ~
sslty and expense Of making the coins pli
III legal tender in each country that on
after could be left to itself; but I do in
sree with him, that the adoption Of =,
I'D coin containing the same duantity w
fine gold as the British SOVEREIGN re-
ouid be a great advance and adyan. Co
ge." So an o..
Mr. tleer Herzog, favored the assimi- N,
t ion OF the two coins. Paris SIS. -
MIR. Ruggles, particularly insisted pu
ION the interest felt by the United
ates in obtaining the consent of France :,
coin pieces Of Is francs, thereby re- NC
rising the convention of 1865. The in
merlcan half-eagle and the British de,
ye!reign would readily circulate side ist
side with the French piece in condi- -
n Of perfect equality" Paris. g56 me
lils Imperial Highness, Prince Nano. an,
IN, said; "If France consulted its tol
~ convenience, she would see no no a..
sslty Tor using this new coin (25F5 N
= TO facilitate the work of unifcation COZ
9 object of the labors Of The confer, mo
&c, i would make the concession "a. usr
lrod by the United States. 1t also an. tbo
AIRED that the coinage Of the Us francs 49,; fnt
zee would equally accommodate both nn NV
lgland and Austria" TParis. S5S 4 oui
AS late rs June Goth 1870 AIn WI az