The Opelousas courier., 1893-10-07
ALI about Silver.

| tune at this moment, and should he filed
| for reference. 1t is, in fact, a valuable
contribution
Bullion-Uncoined gold, silver oi
copper in bars, plates OF other MASSES
! COMA piece of gold, silver Oh other
metal stamped by authority OF the gov
| ernment, in order to determine It's value
J as money.
/ Money - Whatever il used us the
nickel. .andistamped paper are used as
money.
Pure gold or pure siIver-Gold or sill
yer unmixed with any other metal.
Standard gold-A mixture composed
of eleven parts of pure gold and one
part Of alloy the alloy to be silver and
copper, and the siver never to exceed
one-haIf of the weight of the copper:
Gold coins are all made Of standard
gold.
Standard silver-A mixture of pure
silver and alloy the alloy to be copper,
and the mixture in the proportion of
nine parts in weight Of pure silver to
one of copper. All silver coins are made
Of standard silver.
Ratio of 16 to or 90 to This means
16 parts in weight of standard silver to
part in weight of standard gold.
Dollar-The dollar is the unit of value.
We have both gold and silver dollars; !;
all larger coins are gold, all smaller ones
are silver, nickel or copper, and these
smaller coins are called fractional cur
rency.
The gold dollar Weighs 25.S grains
Troy weight, eleven twelfths of which,
1886 grains, being pure gold, and 2.15
grains being alloy
The silver dollar weighs 4125 grains
Troy weight, nine-tenths of which,
31 20 grains, being pure silver, and one
tenth of which, 41.25 grains, alloy. q
By applying the principles of proper
ton, We shall see that Il silver dollar Is
16 times (less 81 as heavy as gold dol
lar. The Discrepancy of 3 is easily ex-
planned. but is of no moment here. The
government disregards 1t and always
says 16 to /.
THIS has been the ratio or coinage
with little exception Ii the United
States since our mlnts first began opera
ton.
The ratio of 16 to /. OF any othel ratio
that may be spoken OF, has no reference
to the number of gold or silver dollars
to be coined within a given time. As 4
general rule, the gold coinage is greater
than the silver coinage. In fact. the
government has a great deal more of
gold money in circulation than silver
money.
Monometalism means the use of only
one kind of metal for money and in
politics at this tim" it means gold.
Bimetalism means the use of both
gold and silver coins as money. Our gov
ernment has always practiced bimetal
ism. The gold bug, as they are called
wish the government to quit coming
silver and have no NOR" silver money.
characterization Of silver means the
of that metal as money, to
refuse to make it legal tender in the
payment of debts, and to stop the coin
age Of it.
Reconciliation Of silver means tEa
renewing Of that metal as money; re-
storing it to coinage.
Parity--Silver is on Il parity with gold
when silver dollar will buy us much
in the market rs 4 gold dollar.
Free coinage is a term used to denote |
that any holder Of standard bullion |
may take it to the mints, and after pay
ing the toll have the residue coined into
money and given back to him. Any !
thing less than this is not free coinage |
Our forefathers put silver on a parity |
with gold, and silver enjoyed free coin
age until the milionaires got control of
congress in 1873 and put stop to its
coinage and took away from it its legal
tender properties for all debts over five
dollars. The effect of this, as in all 9th
er acts that demonetize silver, was to
make the rich richer and the poor poor |
Pr.
The first act of congress in regard to !
the coinage of money was passed in 1899. !
The act selects gold and silver as the !
metals to be coined, and it fixed the |
of weights and value for the
various coins. The next was the act of |
1884, which made some change in the ra-
ito and in the stamp. The act of 1887 |
was of the same nature as the act of |
1884. The acts of 1945-49 81 related par !
to the crime of counterfeiting
and to the devices and legends described |
IN the coins. The act of 1868 fixed more |
definitely the values of foreign coin
then in use in this country. There was
10 effort to demonetize either of the /
metals established by our forefathe.s
ill 1878, to which reference has already
been made.
The act of 1876, known as the Specie
Act, provided that after
January l., 1879, tue legal tender notes
should be redeemed as presented in coin.
IN the meantime silver was to take the
place of fractional currency. The effect
II this bill was to raise the value of
United States bonds and lower the pre-
mum on gold.
In 1877 the Bland Silver Bill was in
in Congress. This was
Measure for the reconciliation Of sill
7er, as provided for the resumption Of
he silvdollar of 4125 grains (worth
hen about 80 cents,) made it legal tender
or pu bile and private debts, and directed
rs coinage at the rate of not less than
30 000, 900 nor more than S4,000,O00
After much discussion, the
Dill passed Congress. 1t was vetoed by
he President, and on February 2s, 1878,
t was passed over the veto by more
han two-thirds vote in both houses.
The mints Immediately began to coin
md send out silver money.
The last act in relation to the coinage
,f money was passed by Congress in
800, and is generally known as the
Sherman Act. The ratio of coinage is
@ to !, the same old ratio. Little, how
,ver. is coined it lies in bulky state
n the vaults of the treasury. The pRr.
'hasing clause of this act, the repeal If
which is now greatly agitatiDg the
American Congress, provides that the
Secretary of the Treasury shall purchase
very month 4,500,000 ounces of silver
bullion or so much thereof as may be
possible (the maximum limit not to ex-
'eed 100000 ounces y and that in pay
nent for the silver bullion there shall
70 issued treasury notes redeemable on
ion of the Secretary of the Treasury;
hat the said notes be re-issued, that is,
f these self-same notes should, through
he ordinary ahannaIG of trade aona