The advocate and Topeka tribune., 1892-11-30

the purposes or the dollar piece, ana
some purposes which it would not an
swer. To and including 1846, $685.
673 were coined at the mint in half-dol-
lars. The non-ooinage Of the silver dollar
piece is of no more Importance than the
non-coinage, now made absolute and
complete by law, OF the dollar gold
piece. 1t is no such triAinR question as
that which now sgitates this country;
but it is the demonstration OF one Of
the two precious metals, and the strik-
ing down Of prices to the standard OF the
other metal alone. 1t is not the silver
dollar, but silver money, in whatever
convenient forms the law may authorize
and the owners Of silver bullion may
elect, whose restoration to its ancient
and constitutional place is demanded.
1t is urged by many that silver was
practically demonetized by the act Of
1884, which undervalued it; by Others,
that it was practically demonetizsd by
the act Of 1863, authorizing subsidiary
silver coins. Although these persons
disagree as to dates and causes, they
agree in insisting that it was practically
demonetized in some way, and at some
time before 1873, and that the legislation
Of 1873-'74 in respect to silver merely
gave legal expression to an existing fact.
II silver was then already demonetized,
the persistency OF the efforts to secure
the passage Of a law to demonetize it
appears remarkable. From June 8, 1868,
when Mr.. Sherman, chairman Of the
committee on finance, made report to
the United States senate, in favor of "a
single standard, exclusively Of gold" to
February II, 1873, no session of congress
went by in which some bill relating to
the coinage, to compass that object did
not make its appearance. These efforts
did not attract public attention, but the
records exhibit them. Watchful and
persistent labors are never undergone to
accomplish what is already accomplished
The manifest truth is that silver was de-
monetized in 1973-'74, not because it was
already demonetized, but because it was
still money and stood in the way of the
scheme to establish I" q single standard
exclusively of gold" AS the essence oi
money in the western world is the lega
tender function, it is only by law thai
anything can be monetized or demon
etized, and silver was as completely {
money metal in this country unit
1873.'74 as it had ever been. What IL
loosely spoken Of as its practical demon
etlzation at that time, was it's temporar!
disappearance from the circulation, be
cause its market value happened to OK
ceed it's mint value. It's legal demon
etization had no practical effect for thu
time being, and there could have beer
no reason for it than the apprehension
since realized in fact, that the vicissi
tudes Of mining, or the legislation o
other countries, might again make silve
rather than gold the more availabl
metal, and bring it again into circula
tion.
4 az
Alle0ed reasons for tho lao Of February Il
1878, relating to SiIUer. Effects Of tn
lao on public and priUdte rights.
No adequate or satisfactory reason
for the enactment of the laws of 1897
demonetizing silver, have ever beel
given. In the brief discussion on tn
bill in the house of representatives tn
principal reason assigned in favor o