Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1892-04-15

cent.
The cent Of 1852 contained 2GO grains;
the cent Of l195 was made to contain PIP
grains, 4S grains less than the cent of
1902. Both coins were made legal tender
for all sums. This'proves that it is the
law, the, fiat, the legal impress, that
makes money and not the amount of ma
terial in the coin.
The act Of Feb. 20, 1906, st. 2, p. 374,
thus renews the valuation of foreign
coins, changing the valuation of many of
them Thus it was from 1893 to 1917,
congress was fixing and changing the
valuation Of foreig.~ coins, a fact l will
not notice again Iii il we have passed the
several coinage ac down to 1917, the
date when congress :emonetized all for
eign coins. If GO .and silver were the
best money, and ' pended not upon the
law, BUT upon V. :sht for their value,
why all these IT,; changing the money
value? There >ut one answer, theyn
were not mon'.> With this nation "unt
law made thr!.: so.
Act Of Jun. ,, 1884, st. 4, p. $50:
This act chali., the relation between sill
yer and gold + m Is to to 16 to /, and
the standard {. gold from l1-l2 to 9-10.
This law ME 25.8 grains gold, 9-lO
fine, corrcspo:., with the silver dollar
of 3714 grains ,'ure silver, instead of ~
grains, 1l-l2 fac as under the old law of
1902. There is Il per cent difference in
the metallic value Of the gold coin of the
same denominations under these two
laws, and their legal or money value is
the same under both laws. This proves
that the law makes money.
Act Of June 8, 1887, st. s. p. 1877: This
act changes the alloy in the silver dollar
and made it contain 4l24 standard grains,
instead of 4lG as under the law of 1892
the amount Of pure silver remaining the
same under both laws.
j Act March 3. 1910, statute 8, page 397;
this act created the gold dollar and the
dou bic eagle. The one was to be of the
value of 81 and the other Of the value
of, $2O The only dollar that had thus
far been created and coined was the sill
yer dollar. This law did not make a
gold dollar, but it did make Il gold piece
of the value of one 81. This is the read
) ing of the statute. There has never beer
intne United States a piece Of gold callec
in the law 81, $3.50, $5 or $40; the gol6
pieces have been or the value of 81, O1
$2 5O,:: of $5, of $40 and of social o1
them were made by the laws creating
them legal tender with the dollar. The
dollar was the unit of value and the
money Of account by which gold was
valued.
Act of Feb. 26, 1853, St. 10. P. 1G0
this act created the first limited legal
tender coin in the United States. Pre-.
viously ali United States coins, gold, sill.
yer and copper, were made full legal
tender Under this law halves, quarters
and dimes were made over 7 per cent
light, and legal tender for $5, only they
} were as good as the silver dollar up tc
$5-above that sum they were not money
and no person was obliged to take then
for debt or in exchange. They are smp
ly light bullion. Why don't some
philanthropic editors and ward polltci
; ans attack this law, which has been il
existence 80 years? This law creates :
coin which made two half dollar piece
contain 3S4 grains standard silver, in
stead of 4124 grains, same as the silve
dollar of our daddles and the present sill
YER dollar. This is subsidiary coin by it,
nature and the law authorizing it's issu
making it legal tender for SIS only fOrcet
2 it into the channels of trade which ar
; occupied by retail business men, farmer
and wage workers. 1t is essentially tn
money of the poor and middle class
Now it is plain to us that the croaker
who are fighting the free coinage Of sill
YER because the bullion in the silver dol
lar is not on a parity with gold CONNER
4 cially are not doing it to protect the sma!
' business men in towns and cities, tn
; farmers and poor wage workers, as the
pretend for gold is not the money 0
those people, but it is the money Of tn
> rich, and seldom circulates with farmer
, and wage workers and small busincs
l men. Understand us, we don't complai
: because this subsidiary coin is light i
silver, for in our opinion. if it containe
! 60 per cent copper instead of 20 it woul
, be better money metal for severa
" reasons, as will appear further on. Th
IL injustice we complain of is that it wa
u made tender for S. only. All money
of whatsoever coined, should be made
t full legal tender. SO that its bearings wi
- rest the same upon all classes of people
u We Cannot afford to ape aristocratic COY
ernments and make one kind Of none
u for the rich and another for the poor, nc
can we afford to tax the people to pun
" chase the dearest article Of mercha ndis
S on earth and hold it us a basis for all ou
Il business transactions when d cheape
article is more convenient and durable
y Let it be understood that law, ard la
J. only, makes money.
It My next article will be acontinuatiO