St. Landry democrat. (Opelousas, La.) 1878-1894, 1893-09-30
ALI about Silver.

metal stamped by authority or tho gov
ernment, i'll order to determine Its value
as money.
Money Whatever is used as the
standard of value. Gold, silver, copper,
nickel and stamped paper are used as
money.
Pure gold or pure silver-Gold or sill
yer unnlixed 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 silver never to exceed
one half 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 he 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 1G to or 90 to This means
| 1G 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 % grains
Troy weight, eleven tweIfths of which,
1855 grains, beng pnre gold, and 2.15
grains being alloy.
The silver dollar weighs 412.5 grains
Troy wei ght, nine-tenths OF which,
81 % grains. being pure silver, and one
tenth of which, 41.25 grains, alloy.
by applying the principles OF proper
ton, We shall see that silver dollar IS
1G 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 dlsregards it and always
says 1G to I.
This has been the ratio of coinage
with little exception in the United
States since our minis first began opera
ton.
The ratio of Is to 1, or any other ratio
that may be spoken of, has no reference
to the number Of gold or silver dollars
to be coined within given time. As a
general rule, the go Id 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 END OF metal for money and in
politics at this time 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 bugs, as they are called
wish tile government to quit coming
silver and have no more silver money.
characterization of silver means the
depreciation 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.
RECOMMENDATION of silver means the
renewing of that metal as money re-
storing it to coinage.
Parity is on parity with gold
when a silver dollar will buy as much
in the market as gold dollar.
Free coinage is term used to denote
that any holder of standard bullion
may take it to the m!nts, 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 millionaires got control of
congress 10 1873 and put stop to it's
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 demonctize silver, was to
make the rich richer and the poor DOOR
er
The first act Of congress in regard to
the coinage OF money was passed in 1892.
The act selects gold and silver as the
metals to be coined, and it fixed the
standard 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 was of the same nature as the act of
1884. The acts of 1916 40 81 related par
ticularly to the crime of counterfeiting
and to the devices and legends described
on the coins. The act of 1853 fixed more
definitely the values of foreign coin
then in use in this country, There was
metals established by our forefatle1s
till 1873, to which reference has already |
been made.
The act of 1875, known as the Specie
Redemption Act, provided that after
January /, 1870, the legal tender notes
should be redeemed as presented in coin. !
La the meantime silver was to take the |
place OF fractional currency. The effect |
OF 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
troduced in Congress. This was a
for the reconciliation of sill
YER, as provided for the resumption of
,he sllvdollar of 412.5 grains worth
hen about 80 cents,) made it legal tender
Tor public and private debts, aud directed
Is coinage at the rate of not less than
s2,OO0,O00 nor more than $4,OOO,0OO
monthly. After much discussion, the
1lll passed Congress-. 1t was vetoed by
he President, and on February %, 1878,
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
IT money was passed by Congress In
500, and is generally known as the
Sherman Act. The ratio of coinage is
6 to /, the same old ratio. Little, how
yer, is coined; it lies in bulky state
u the vaults of the treasury. The pur-
hasing clause Of this act, the repeal of
which is now greatly agitating the
American Congress-, provides that the
of the Treasury shall purchase
very month 100000 ounces of silver
'ulilon or so much thereof as may be
'ossible lthe maximum limit not to ex-
eed 1900, 900 ounces y and that in pay /
lent for the silver bullion there shall
70 issued treasury notes redeemable on
emand in gold or silver, at the discre- ..
ION OF the Secretary Of the Treasury; :
hat the said notes be re-issued, that is, i
these self-same notes should, through 8
he ordinary channels of trade, come 7
ack to the treasury, say in payments of 1
exes, ETC., the treasury is authorized to
Sc them iD purchasing a new supply of
liver. The act declares it to be estab- J
shed policy of the government to
'aintain the two metals on a parity
18th each other upon the present legal
tito Of 16 to /, or such rate as may be