Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1893-09-14
Reply to Hon. w. E. Carter.

/ the purchasing power Of money had APP
preCiated six per cent in the last SIX
months, caused a contrary meaning TO
he conveyed to the one intended, By
substituting the word deprecated for
appreciated This article has called
forth lengthy criticism from the pen
of Hon w + Carter.
| stated that the standard money OF
the world from the time of Abraham
down TO 1878, had been gold and silver
and had Mr. Carter consulted his
dictionary to determine the meaning OF
the phrase STANDARD money OF the
world, instead of gathering excerpts
from encyclopedias upon lie different
commodities used in barter, he might
have reserved a column or so OF your
valuable paper to the discussion OF more
vital questions IN issue. The accepted
meaning of this term il, money Of ulti-
mate redemption aud which Is Ieeeiv-
able i'm the settlement OF balances
between different peoples or nations
Am to infer that the Pequot Indian
could settle his accounts win the Lon
don merchant, using wampum? Were
the shell. beads. iron spikes and salt,
mentioned by Mr. Carter, anything
more than mere commodities Of barter
among psgan tribes? Have not the
debt paying power of nickel and copper
always been limited? Greenbacks are
legal tender money to day but they &re
not sta9illard money Not SO with gold
and silver before 1875.
Mr. Carter has devoted some six
columns of your paper to an attempt TO
dlsprove my assertion, | am not con-
cerned as TO the various bills relating to
conago, passed and unpassed, quoted
by Mr. Carter, except the one in issue.
Relative to this bill | shall coniine
myself to the record in Congress and |
am very sorry that Mr.. Garter does not
have the Congressional Globe of the
time in order to verify my statements.
Ia the first place, the bill mentioned
by Mr. Carter as having been intro
duced BY Mr.. Kelley, March 10Th, 1871.
did not provide for the discontinuance
Of the coinage of silver 1t did provide
for y change to the French ratio of l59
to /, and had this bill passed as it was
introduced, it would have reduced the
value of a silver dollar TO a parity with
the gold one This bill was printed and
discussed but did not pass On the 9th
day OF May 1872. Mr.. Hooper. Of
Mass. acting as chairman of the Com
mittee on Coinage reported substitute
and moved to suspend the rules aad
pass the the substitute, upon which
motion among other things. the follow
ing occurred.
Mr.. Holman. suppose it is intended
to haye the bill read before it is put on
its passage?
Mir Speaker The substitute will be
read.
Mr.. Hooper | hope not. 1t is
long bill and those who are interested
in it, are perfectly familiar with its
provisions.
MIR. Holman. Before the question is
taken on suspending the rules and
passing the bill, | hope the gentlemen
from Mass. will explain the leading
changes made by this bill in the exist
ing law especially in reference to coin
age. 1t would seem that all the small
coinage of the country is intended to be
recoued.
Mr. Hooper This bin makes no
changes III the existing law lie that re-
gard 1t does not require the recoinage
Of small coins The question being
taken upon the motion Of Mr. Hooper
to suspend the rules and pass the bill,
it was agreed to; ayes 10, noes Is.
See Cong Globe, part 8, page 1888.
So the substitute was passed without
member Of the House of Representa-
ss. q.