The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1894-12-21
CHE 9e,ltotrat,
Who is Right?

yer men claim that by the so-called demon
etization of silver in February 1873 silver
dollars we're robbed of their legal tender
use ii any sum over S., but that the legal
tender value was made good by the Bland
act of 1878. The correspondent disagreed
with these free silver men and claimed that
silver dollars have always been recognized
as full legal tender By law in the United
States. The oregonian said the CORES
pondent was right. Then some o! these
free silver men, after reading the 0regoni-
ans reply, called the attention of the cor
respondent to section 1886 of the revised
statutes of the United States, 1873 and
1874, which reads as follows: can sill
yer coins of the United States shall be a
legal tender at their nominal value in
sums not to exceed SIS in one payment. I"
Act February l2, 1878. The 0regonian's s
attention was called to this by the cores
pondent whereupon that paper admonishes
the correspondent that he Is right and to
stand firm and not let financial quaeks con-
fuse his mind with their ignorant assur-
ance and pretended knowledge. The Ore
gonian then adds: "The silver dollar was
not coin of the United States when the
statute you, (the correspondent quote was
passed. None had been minted for many
years. The silver coins of the United
States at that time are enumerated in title
81 section S51S of the same volume. They
were the trade dollar, (eoined for the Chi
nese trade,) the half dollar, the quarter
dollar and the dime. 1t is these Only to
which the limitation of legal tender power
to S5 applies" The Oregonian is guilty
of doing the very thing which it seemed
to fear tie silver quacks would do. 1t has,
whether Intentionally or otherwise. coz
fused the mind OF its correspondent.
1t says the silver dollar was not coin
of the United States when the statute you,
tthe correspondent quote was passed.
We can not conceive what led that paper
to make such statement. The truth Is
that congress passed law in 1892 pro-
Yiding for the coinage of legal tender
silver dollar. This law, with some modi-
6cations, remained in full force until 1878,
when congress repealed that part of the
law providing for the coinage of the legal
tender dollar. Under this law from 1898
to 1906 there were coined l, ,43S. SIT of these
dollars 1t was then that President JEFF
ferson suspended the coinage of the siiyer
dollar for the reason, las stated in letter
written by James Madison, who was then
Secretary of State to the Director of the
mint at Philadelphia that considerable
purchases have been made of dollars coin
ed at The mint for the purpose Of export
ing them. and as it is probable further
purchases and expectations will be made
the President directs that all silver to bt
coined at the mint shall be of small de
nominations, so that the value of the larg.
est piece shall not exceed half dollar
There was no further coinage of the sill
yer dollar until 1897 when congress passed
a new coinage Law providing among othel
coins that silver dollar of 4l2H grain
Of standard silver should be coined and tina
it should Le full legal tender. The sill
yer dollar coined prior to this time can
tained 4l6 grains. Coinage of the silve
dollar under this law of 1887 began at one
and with the exception of the years 1SS
and 1858 this coinage was kept up unit
1873 when the so called demonetizalion &C
was passed. For the period of thirty-6y
years Immediately proceeding the passag
of the Demonstration act this coinage q
legal tender silver dollars had been goin
on.
In 1871 there were I,rI7,I ,I36 of these s:
ver dollars coined and in 1872 there we
coined I,IIo, 600 of them. And from tt
time Of the passage Of tae coinage law
I7ez upto the time of the passage of Il
deuone,iz rt:on act 0. 1873 there were col
of these dollars S,o3I, ,238- In view of the
iadispEtab.e facts what must be thought
:h= confusing and misleading statement
the Oregonian that '.the silver dollar W
not coin of ts.e United States sat the til
efthe passage of the demonstration law. .Th
law was passed in the second month of q
year 1879 and Jet In that year thee We
coined 2o6 6oo Of these dollars? WI
becomes of the other stateme
of that paper that none Of the
dollars had beer minteti for many yea
prior 10 the passage of the demone sizati
act: The 0regonian seems to think HI
the section of The statute to which Its core
pon6rnt directs attention which provic
that the silver coins OF the United StaI
snail BE- a legal tender of S. only was pass
at different time from the act discontinui
the coinage of the legal tender silver doll
whereas, in fact, both Of these provisic
were rarts OF the same act. The real que
tion raised between the correspondent
t1e O=egonian, and the silver men he
land By the way they are Republicans. }
whether line act of 1873 known as the q
mone'ization act affected the legal tend
qualities E the legal tender silver doll
taat had been coined prier t1 1873 T
answer of tha: paper By 20 means satisf
those who have been looking into the bis
y of silver legislation.
TIE act of 1887 made the silver dollar
full legal tender. One section of the act
1873 discontinued the coinage Of the sily
dollar. Anoiher provided mat '@he sils
coins of .hc United States shall be /
trade dollar, ihe half dollar, The quar-
collar and the dime, Another section
the same act dec ares THAT The silver col
Of the Uoited States shall be a legal tend
al their nominal value 10 sans not to exec
S. in on= paymen'." And the les, secti
Of the act, section 81. provides that 'tf
act shall be knowa as the Coinage at
1873 apd all other acts aod parts of a,
pertaining to the minis, assay offices al
coinage Of The United States inconssta
wisi the provisions Of this act are here
repealed" In view OF these three sectio
it is no matter Of wonder that thtse sils
men have some doubt about the correctn.
OF lie position of the oregonian.
Russia has prodaced this year, accord
tothe estimate Of the Minister OF Agricultu