The times. [volume] (Richmond, Va.) 1890-1903, 1892-06-26

shipped 70 Europe rs iaSs ns wv
were coined Mr.. jefferson. then President
without any authority of law for it. stopped
further coinage Of silver dollars, and no more
were coined until 1886. About that time
the ratio between silver and gold was raised
TO 16 10 1. but this still undervaued silver,
making the silver dollar worth about five
cents more than tho gold dollar. Between
1886 and 1873 6,592,OOO silver dollars were
coined. and ell of these had gone out of the
country. except sl.25OOOO which we're de-
posted in the Treasury of the United States.
There had been a good deal of subsidiary
! coinage in the mean time. but that being IN
deryalued, it also had gone out Of the coun-
try. so that in 1851 we were entirely without
change and the "shinplaster" was invented
and came into vogue IS substitute for
change.
Inls54 Hon. r. VI. T. Hunter chairman otthe
Finance Committee of the Senate on repre-
senting the facts to Congress got It to pass a
! bill making the half dollars. quarters and
! dimes contain per cent. less Of silver and
thus made them stay here. But they were
made legal tender for only IS. consequently
/ no transactions were based on them. They
were used for change only. Between 1854
! and 1873 ga, 200. 900 Of this subsidiary silver
| coinage was put out, so that in 1878 this
amount Of taken coinage and 100000 Of
silver dollars was all the silver money in this
country. Stick pin then. right there. you
are not injured by decentralization because
when the demonetizing act was passed Ia
! 1873. there ,ros no siiUer money IN The country.
II you will look at the report Of the Director
of the Mint for 1891 at page 2S9 you will End
proof Of all this.
You are told that the act demonetizing sill
yer was eptitouslyand fradulently passed
through Congress- The records prove tho
charge 10 be false. and if you will attend for
moment 20 the facts existing at the time
your own common sense will tell you 10 Is
false. Prior 10 1873 American coined silver
had never been a currency in the United
States except small coins Tor change, because
silver was 30 much undervalued that it left
the country az soon as Il was coined. In 1861
the Director Of the Mint called the Govern
ments attention 10 this fact. and advised
either that no more silver dollars should be
coined or silver enough should be taken out
of the dollar 10 reduce its vslues 10 that Of
the gold dollar See finance report for 1861,
.. 623.
In 1885, the Deputy Controller Of the Treas
ury. John Jay Knox being directed by the
Secretary Of the Treasury TO inspect the minis
and make a report on them. recommended
- Al. II h. % fia
Treasury directed Nr Knox and DR.. Ihnder-
man. Director of the Mint. codify all the mint
laws. at that time in great confusion. They
wrote one bill from them all This bill
omitted provision for coming the silver dol
lar. and this is the bill which demonetized
silver They made a report on the subject.
which set out what had been explained by the
Director of the Mint in 1861 and by Mr.. Knox
In 1866. They called especial attention in
several places in the report to the fact that
this bill lett OF all3proyisions for the silver
dollar, giving the same reasons for il.
The Secretary of the Treasury sent the bill
and report to the chairman Of the Finance
Committee Of the House recommending that
the bill should be passed as drawn. The bill
aud report were printed, sent to the Finance
Committee. reported. debated. sent back 10
the Finance Committee three times, and de-
bated each time in open Senate. The same
thing took place with great elaborateness in
the House. The debates show that tho fact
that the bill demonetzed silver was especially
pointed out and debated by number Of lead
ing members. The debates on the biiSn the
House occupy So columns Of the Globe aud
those Of the Senate IS columns. The bill was
pending before FIVE sessions Of Congress and
from 1870 10 1873. Any one who doubts
these statements can determine their truth
for himself by looking 10 the record. Look
to the Congressional Globe for 1s7O173. and
to the testimony Of John Jay Knox given
before the Committee on Coinage Of the
House in 189O-9l. II is contained in the
Report and Hearings of the Committee on
Coinage on the Senate Silver Bin for the Free
Coinage Of Gold and Silver. Second session
Forty first Congress" p. 426. The document
is printed as one column and your congress-
man can send it to vow If you viii copy this |
title and ask him for it. Don't let him put
you of, lie can get it for you if he chooses
and you will find 1t all there
The substance of the matter is. All Europe
Except England, which demonetized silver
in 1915 demonetzed silver between 1871 and
1878, ana offered its silver for sale. The
mines Of Colorado and Nevada commenced
making their yields in 1873. The owners of |
these mines looked around for a market for |
their silver. and there was none. Not only |
so, but Europe. which had been buying was
now a seller against them. Tomake market !
for their silver lthey raisedl all this clamor of
fraud in passing the act Of 1873 30 as 10 get it
repealed and thereby to make the United |
States Government buyer of their silver. |
They would make you destroy yourselves to |
make market for tLeir product.
Are you willing TO bring the Force bill on
yourselves that you may pursue the iqnis /
fdtutIS OF free coinage
TIE ANI1-SEME1IC WAR.