Elmore bulletin. [volume] (Rocky Bar, Idaho) 1889-1906, 1893-07-22
rRE HISTORIC poLLAR.

One 81 the conimonvst exp rcssions
used by the opponents Of the silver
dollar is that il is "below par" The
SILVER dollar is said to be worth only
eighty cents" or seventy.fve OF seg.
enty, a. the case may be. In reality
these expressions are meaningless as
well AZ misleading. They arise from
a false conception Of the legal status
Of the silver dollar and lack Of ac-
quaintance with the financial history
cl the country.
The Spokane Chronicle gives the
origin OF the silver dollar Ms follows:
During washlngtons hrst administration. immesl
asly succeeding tho period Of the rredeenable cen
tnenal currency Il become Necessary that the newly
established Federal Government should hx stand.
ard OF value for our medium OF exchange. Owing
TO the tact that hal considerable trade with the
West Indies We hal in circulation At that time a
great many spanish dollars After SOME discussion
on the subject, IL decided that this CON favor
lite one IN colonial commerce should be taken as the
standard Of our currency. u contained 81 grains
OF pure silver and was popularity known as "tht
by act Of Congress, April .. i7a2. s7ii grains Of
pure silver and al grains OF gross weight 4ts
grains-wure cointd into the standard silver dollar
From that time 10 this the standard has never been
changed. The Government took 10 much gold was
equivalent b 81 grains o. pure silver, added the
proper amount OF alloy, and ceibed the gold dollar
IL then proceeded 10 issue the subsidiary coins down
70 the old style copper sents under the stand
ar. Of measurement, s1ll grains Of silver TO the
dollar
BY act OF Congress, January IS 1857, the gross
weight OF the silver dollar changed 10 al2i grains
the pr ent standard dollar. but the amount Of
pure silver contained in the dollar has remained the
same from Jefer-ons day 10 this, 37ii grains Al
Congress did in ls7 10 cut of - gTains IT alloy
The silver dollar remained still the legal standard Of
meah Irement IA our monetary rystem as IL In to-day
To sieak therefore. Of "the dollar being worth only
seventy ~ eighty cents, Is absurd to say that
twelve inches do not make one foot
What, then, do mean by the denoDet ikatton' .
OF liver in 1879 aud by thn possible deona tixaiioD
or silver next month la the unconditional repeal Of
the sherman laSi We mean simply the disoontinu.
Anee ~ the use Of silver money What was done
in 1879 this: Somehow, In some way no one
knows how or where or BY whom the clause proyid.
ing for the coinage 81 the silver dollar was quietly
slipped out OF codncation Of the mint laws during
one q the sessions Of conference committee and in
this shape the measure was hurried through both
houses OF Congress during the closing hours Of the
session. The gold dollar, II must BE- remembered
atil measured by the old standard Of 37lI graina
" pure silver but the officials Of the United States
mints were lcft without authority 20 stamp the silver
dollar itself As senator CunkliHg apty phsAsed i.
There Is BY Law no American dollar because thcre
Is no pusor 10 issue it"
Who did tbs deed, II was great piere 81 rms.
caiy and brought countless ills in it, train From
from that moment the warar silver ~ the Eastern
and Europ an bankers and gold brokers has never
ceased IN 1875 the United states partially
tzcd silver that is partially restored is use ~
money -bN the Bland Law. This was unfortunately
replaced BY the Sherman law, which was distinct
step downward IN that II treats silver purely a.
cummodity, compelling the Government To purchase
CERTAIN amount ~ the white metal but not coin
u u provides silver certificates mske-shift Tor
legal tender coin ami absolute demon.
citation as Is possible 70 get without accomplish.
ing IT,
Nov, what 10 We free silver men proposeY The
restoration - the law u existed from iTa2 1873
nothing more, nothing less W. believe that the ar
rahgen,cni that worked well tor four acorp years o,
ths nati0ns history would WORK well nov Ne be.
licte that the disturbance Of that arrangement vas
both hnnder and crime hiup,rr The part Of
many who ignoTantly voted for Il. Grim. on tho
part 81 the few Who crafty planned a. That great
error should have been rumrld long ago We do
not assert that the application Of the remedy nov
@ill be either painless instantaneous hut IL will ~
Infinitely better than lhe disease from which ths
body public Is suffering.