Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1885-02-19
The Silver Question.

The Finance Committee OF the Senate
has reported bill relative to the sus-
pension of silver coinage. The first
four sections relate TO trade dollars and
are as follows:
BE u enacted, etc, That until July
LIST, 1885. United States trade dollars,
II not defaced, mutilated, or stamped,
shall be received at the office OF the
Treasurer of any Assistant Treasurer of
the United States in exchange for like
amount, dollar for dollar, of standard
silver dollars of the United States.
| SEC. 2. That the trade dollars re-
ceived by the Treasurer or any Assistant
Treasurer af the United States shall not
be paid out or in any other manner
issued, but at the expense of the United
States Shall be transmitted to the COIN
! age minis and recoined into standard
| silver dollars.
..SEC. 3. That the trade dollar so
received at the coinage minis shall be
regarded and treated as silver bullion,
and, at their bullion value, shall be
deducted from the amount of bullion
required to be purchased and coined by
the act of Feb. 2Sth, 1878, and shall be
| recoined into standard silver dollars
| according to the provisions of
said act provided that the
amount to be so deducted as provided
in this section shall not exceed $500, 900
in any month.
"SEc. 4. That all laws and parts of
laws authorizing the coinage and issu-
ance of United States trade dollars are
hereby repealed
This measure has been recommended
by the present Secretary of the Treas
ury, as well as by his predecessor, and
will meet with the appreciation of all
sound financiers throughout the coun-
try. As is we'll known, these CONS, al
though issued by the minis under auth
ority of the law, and possessing more
real value than the standard silver dol
lar, are by an act of Congress dispos-
sesscd of any legal-tender value. Several
millions of these anomalies are in the
hands of the people and are nuisance,
and a disgrace to the Government. We
see no reason why this part of the bill
should not become q law.
The fifth and sixth sections are as
follows:
"SEC. 5. That the President is here
by authorized to renew negotiations with
the states of the Latin Union and with
other foreign powers for the purpose of
/ m a b N fpn haf s,, r,,.Ia -
secure such cooperation as may enable
the nations agreeing thereto to open
their respective minis to the free coinage
of silver, with full legal-tender power
at an agreed ratio to gold.
"SEC. 6. That in case no such trea-
ties as aforesaid shall have been made
and ratified prior to Aug. 1st, 1886,
then and thereafter, so much of the act
of Feb. 18th, 1878, entitled an act to
authorize the coinage of the standard
silver dollar and to restore its legal
tender character, as authorizes and
directs the Secretary of the Treasury to
purchase from time to time of silver
bullion, at the market price thereof, not
less than $2,000,000 worth per month
or more than 100000 worth per
into such dollars monthly, as fast as so
purchased, shall be suspended"
These sections. amended so as to
meet the exigencies Of the case. would
not be recognized by the committee. In
fact the fifth would disappear alto
gether. Why should we make bad
matter worse by delaying year and
half what should have been done long
agop Or why should we make this
action dependent upon the uncertain
movements of foreign powersp II ar
rangements can be made with European
governments whereby gold and silver
may be coined with full legal-tender
power alta common ratio, we'll and
good, but for the present the obviously
proper thing to do is to stop the coinage
of silver dollars.