The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1894-12-05
This act has been justly called 1.-The
crime of the ages"

This act has been justly called 1.-The
crime of the ages"
That the attempt to change the unit
of value from the standard silver dollar
to the gold dollar was fraud, We ask,
| where IS the gold dollar now? Let the
act of September 26, 1890, tell US:
Be it enacted by the Senate and
| House Of Representatives ofthe United
States of America in Congress assem-
bled, That from and after the passage
of this act the coinage of the three dol
lar gold piece, the one dollar gold piece
aud the turee cent nickel piece De, and
aud the same is hereby prohibited, and
the pieces named shall not be struck or
issued by the mint of the United States.
Sec. 2. That as fast as the said coins
shall be paid into the Treasury of the
United States they shall be Withdrawn
from circulation and be recoined into
other denominations of coins.
Sec. 5. That all laws and parts OF
laws in conflict with this act are here
by repealed"
II the act of the 18th of February,
1873, changed the unit of value from
the standard silver dollar to the gold
dollar, where is the unit of value now
that the gold dollar has been dead and
buried over four years? If the stand
ard silver dollar is not the unit of value
of the Nation we have no unit, as the
standard silver dollar is the only dollar
the Nation has. The legal lender quail
tiles of the standard silver dollar have
never been impaired by any law since
it's adoption, it is ia the plentitude of
its debt paying powers, il is full legal
tender, and best of all, the government
has an ample supply of them in her
treasury, or the bullion to have them
struck and coined to meet all of her
obligations.
Having shown that all outstanding
interest bearing bonds of the govern
ment, principal and interest, are pay
able in the standard silver dollar, they
having been issued under acts passed
while the standard silver dollar was
the unit of money. I will now proceed
to show that all the outstanding non
interest bearing obligations of the gov
ernment are payable in the same coins
except the gold certificates. These are
special contracts, and must be paid In
the coins nominated ia the certificates.
Ofthe debt bearing no interest. there
are outstanding $34e, ,6Sl ,0l6.00 United
States notes issued under the acts Feb
ruary 25, 1862, July II, 1862 and March
3rd, 1868.
Old demand notes $54,S47.50 issued
under the act of July II, 1851, and
February y, 1852. Fractional currency
| Sc, ,S97, ,l37. AZ issued under the act July
II, 1852, March 8, 1858, June 80, 1854.
National ba.k notes SIS, l63, 475. 50.
These bank notes are based on the
government bonds, all Of which are
payable in standard silver dollars,
hence they are payable in the same
coins. Aggregate of debts bearing no
Interest 1881, 1876, 1852.
The above notes were issued when
the standard silver dollar was the unit
OF money and dollar of account of the
NatioDs, without dispute, and are pay
able in standard silver dollars.
OF the certificates and notes issued
on deposit of coin and legal tender
notes and purchases of silver bullion
there are in circulation
Gold fcstes............. 5 64.2o2. .O0O
Silver certificates. s.......-....... ISL, l45,5Oi
Certificates of deposit........ 81, ,go, ,OOO
Treasury notes of lS90........ ~, 7l5, 1886
Total. ,155,7 ,766
All the above obligations except the
gold certificates are payable in the
Standard silver dollar. Section of the
act lily 18th, 1890, makes it mandatory
on the Secretary of the Treasury after
| July, 1891, TO coin of the silver bullion
purchased ''as much as may be neces-
sary to. provide for the redemption Of
| the treasury notes herein provided for"
| The law is equally mandatory that the
Secretary of the Treasury shall redeem
on presentation all treasury notes issued
| in the purchase of silver bullion with
standard silver dollars struck and
coined from the silver bullion par
chased with such notes. The silver
certificates show on their face they are
| payable in silver. According to the
statement of the Secretary of the Treas
ury the aggregate debt, including GER
| tificates and treasury notes is 81, $685.
l54 4,037 IS. Cash in the treasury aggre-
gate S754, ,546 PAT 81. Deduct the cash
ia the treasury from the outstanding
obligations and the debt Of the Nation
based on her credit is only SS7l ,607,-
| 789. 81.
| The debt of England and her depen-
denotes is 1886 265, 900. The debt of
France is s. 9S2, 2,SlO,00O. The debt of
the United States is insignificant by
| the side of the debt of England or
France. She has in her treasury in
! Gold coin u.....................S Sl,4l6, ,460.73
Gold bars. 44,l97, ,435.00
Total gold. .6l3, ,S95, 13
In silver dollars. 1855, ,332, 73S. 90
Subsidiary coin............- 1924, ll2. 90
| c,;h.A. h.e 12S 2H1 $50 81