The Beaver herald. [volume] (Beaver, O.T. [Okla.]) 1895-1923, 1895-06-20
COINS FINANCIAL SCHOOL.
w. II. HARVEY.
oopyrig GIFTED in 1894, by Co.'s PrnLisinSo CO.
Continued
CHAPTER !.
YOUNG SCOTT RETURNS.

snying that he wished TO apologize ior
his conduct, aud was row here to stay
il permitted to do 50.
CorN told him that 50 long as he ac-
corded In Others the right to entertain
views different from his, his namn
would be kept on the roll as student
at the Financial School
Thereupon Mr.. Scott said. " | am
informed that you have stated that sill
Yer was the unit of value prior to 1878;
that this unit was composed of 3Tl /
grains of pure silver sr ll2 grains of
standard silver. Now want to know
il it is not fact that bot. gold and I'll
yer at that time were each the unit in
It's own measurement And that we
had double measurement of values
which was liable To separate and part
company at any time? Aud when the
metals did separate, was not the effect
like having two yard,sticks of different
>leu;;ths? wish to call your attention
TO the statute on rage 2l3 of the book
you read from where it says an eagle or
ten. dollar gold piece is ten niis. Docs
not tais indicate positively that a gold
uuit was also provided for?'
And with this he sat down looking az
proud rs a csnnonecr who has just fred
shot that has had deadly effect in the
enemys ranks.
Com had nodded when the props
osilion of the unit was stated, looked
amused at the double unit proposition
advanced, and now replied: "Thc law
referred to this morning was passed April
=, 1892, and remained the law till 1873
You will find il in my valuable Haud>
book. ! now read it from the United
States Statutes.
"Dollars or units, each TO be of the value
of a Spanish milled dollar as the same i,
now current, and TO contain three hundred
and seventy-one grains and four-sixteentl
parts of grain Of pure, o, four hundred ant
sixteen grains of standard silver,
"Ifyou omit the words referring to tn,
Spanish miled dollar. it will then read
Dollars or uplta, each TO contain 81
grains and t. l6 parts of a grain of pur,
silver.
"This is the statute that fixed the uui
and is the ouly statute on the subject I'll
we come to 1873.
Now what you referred to is thi,
1t is in section ., aud reads as follows
"Eages-each to be the value of ten dol
lars or units"
"And on the ratio of > to ] fixed i
the same act, this made an eagle contai
2i7 grains Of pure gold, or 27O grains Q
standard gold. You will observe thS
the law does not say, as you stated, tha
an Eagle sr ten dollar gold piece is te
units 1t says, 'Of the value Of ten do
lars or units, In other words, te
dollar gold piece shall be ,l the value q
ten silver dollars.
"Or to state it in another way: A
the law liked 81 grains of pure silvC
as a unit, the quantity of gold in gol
dollar would be regulated by The Iati
fixed from time TO time.
"Now," addressing Mr.. Scott. "if
have not read your law right, want 70
TO say so This is the place to settle Il
questions Of fact. Your law does N,
say gold piece has so many uuits in i
but instead of that, it does say. the COL
pieces are to be ,f the value of SO man
nnits.
The young journalist from WashinI
ton street had not seen the distinction
and had jumped at conclusions. Whe
he did see the hole he was in, he leaue
over to Evans of the EconomiSt, who $;
uext t,. him, and asked him to help hil
out. Evans thought he had mastere
the subject of political economy sever
years ago, Ind had named his paper 1T
Economist" lie found now, that i
had not gone very deep into the subjec
His textbooks had been the TrHUR
Herald, Record and journal. He d
not know that they, too, were gettir
their information in about the same wa
So now when his friend Scott was
trouble, he sympathized with him. Bl
lie could not help him, and was seen
shake his head. Scott sat silently
his seat.
"You will observe" continued Con
"That the law in fixing dollar or un
does not say, as in the case Of goll, tht
il shall be OF the value Of 37l grains
silver, but that the dollar or unit VI,