Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1894-10-15
bNEY PROBLEM.
Anstion OFths Unit OF value,
nv silver was Releetnd.


8ARTINsvILLE, October 1s.
ID ne Gator Of ths Rooster:
SIR:-It Is as essential to have q uoit
ia money as it is 20 haVs a unit In
mathematics. Tbs Constitution gave
Congress the power TO coin money and
regulate the value thereof" In pur-
suancs OF this power Congress adopted
gold and silver IS mOAsy and Their Fixed
the INIT, that Is, fixed the quantity OF
metal the dollar should contain, the
same as the figure l was fixed from
which all others should bs counted.
Congress declared that the money unit
should consist o. 37II grains OF purs
silver. Therefore, 81 a grains OF purs
silver was made the unit OF values. A
collar was 20 contain that quantity OF
-lver and each dollar was a unit. Then
oil other money was 20 be counted from
this unit OF silver dollar, there
fore half dollars, quarters and dimes
are exact fractional parts OF the dollar.
Gold was made money, but its value
was determined by this silver unit or
dollar. The ratio between she met
ais was fixed at Is TO l, but changed
afterWaTd 10 l6 70 l. The relative
weight OF the gold coin was regulated
by the foregoing ratio. This was the
law Of the United States up to 1878, aud
during that period the unit OF value was
never changed, but always contained
37l4 grains Of pure silver. While this
law existed no one could truthfuily say
that the quantity OF silver in a silver
dollar was worth Only fifty cents, or sny
other amount less than 100 cents, BE-
cause il was itself the unit Of value. As
long as this law was 10 force il would
have been as foolish TO say that the sill
yer 10 a silver dollar was worth only
hity cents as to say the figure one is
only one-half Of one. When the ratio
was changed 20 10 to /, the silver dollar
still retained It's 37lLi grains OF pure
silver, but the gold dollar was reduced
in weight from PAT grains TO 232
grains Of pure gold. This change was
made Ia 1884, and the silver dollar still
remaining the unit until 1873. Both
were legal tender for all debts, the
units open 20 the unlimited coinage OF
all that came, aud we were, up to 1878,
on what Is termed q b-metaliiC basis
but In truth a silver basis, with gold
enjoying under the law equal privileges
as silver, except that silver was the
Unit and gold was measured by 10.
bis was pure bi-metalliSm, on which |
is the founders OF this government |
Nv placed us. None can truthfully /
the honesty, integrity and sin /
OF purpose Of the founders OF this !
-nment, and to the extent we have |
ssed from their fundamental teach |
10 that extent the masses have /
sd. The experience OF our fore |
was obtained under the /
rying and adverse circumstances. |
d was grinding them exceeding /
Feen the upper and neither mill |
pd they were forced for self !
on 10 exhaust the truth and /
u the truth from the science /
ent. They did so and placed !
honest, just and upright ba- |
we il to ourselves and our /
ee that the fundamental /
laws Of this government /
d 10 the injury Of the /
pc the people were doing /
u their own account. a /
ded on which one Of /
be selected as the unit I
ne selected would /
lgeabls in value. |
never be worth /
- ~ -Wnuld be /
not |
The |
ath- |
pnit /
led /