Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-09-21

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piece Another section provided that
the silver coins of the United States
shall be trade dollar. half dolln,
or hfty cent piece, a quarter dollar or
twenty-five cent piece, etc, etc. and
the weight of the trade dollar shall bs
etc. etc" 49,
BY a subsequent action II provided
that no coins, either of gold or OF sii.
Yer. or minor coinage shall hereafte
be issued from the mint other than
thoee or the denominations, standards
and weights set forth In this tltie.''
II silver was demonetized in 1853.
why should the silver dollar be Mt a
premium over gold up to R7s? And
what was the Intention OF congress in
passing the act OF 1873? In the report
OF the silver commissioners. volume
], pages 1873. the following lanRuape
Is used 1.-THE owners Of silver bullion
had the right to demand its coinage
into dollars whose weight remained
unchanged, and which when coined
were equally with gold u full legal
tender. The right was never denied
10 silver bullion until the passage of
the law of February IL, 1879. nor was
the legal tender quality of the full
weighted silver dollar taken away or
limited until the adoption of the Re-
vlsed Statutes in June. 1874. The act
VI iNbi hhi ~ 1910. uDuNt referred 10
is n long act of slxty-seven sections
regulating all the details oil the mint.
IL does not demonetiZe the old silver
dollar. The silver dollar Is not named
In II, and II would escape casual OBJ
servation that the silver dollar was in
any way affected by II. 1t authorized
the coinage of silver half dollars, quar-
ter dollars and dimes, and OF a new
coin Tor Asiatic commerce to be called
trade dollars and provided that no
coins, either of gold or OF silver or
minor coinage shall hereafter be issued
from the mint other than those OF the
denominations, standards and weights
herein set forth. The act Of February
u, 1878, deprived silver bullion OF the
right of being coined into full legal
tender money on either government or
private account"
Having prohibited the future coinage
of any standard silver dollars the next
thing was to completely demonetize
the silver already coined. This was
done by the committee appointed to
revise the laws of the United States in
June, 1874. prepared by this committee.
The report of the silver commission.
volume /. page 30, In speaking OF the
committees work, says 1.-THE demone-
tization of silver coined and uncolued
was afIlrmatlYely completed In June,
1874, by the following sections 1856 OF
the Revised Statutes: The silver coins
of the United States shall be legal
tender at their nominal value for any
amount not exceeding five dollars. In
any one payment"
| have been unable to find any cor
responding provision of this kind In the
law OF February IL. 1873 The Revised
Statutes were enacted as whole They
were intended to be revision merely
| of existing laws without the introduce
ff.2N stf 1nHWt 1af L a nat lFrasaN
who is responsible for this new provls-
ion as embodied In section 1856 RE
| vlsed Statutes. Mr.. Carlisle may be
correct in his statement to the effect
that the law of 1873 was fully discuss
| ed In congress and fully understood
| yet the fact remains that by the In
| PRODUCTION of this section into the Re
| ylsed Statutes, the money of our faith
ers, the money which had been the
| medium of exchange and the measure
| of values when the Democratic party
| ruled the government In all of Its
| branches and acquired all of our vast
! domain Except Alaska, once described
! by Senator vance, and when our coun'
try blossomed like a rose and her PEG
! pie were happy and contented. the an
Client money of the country. which was
| In circulation almost at the dawn OF
| history, and which formed the consld
GRAFTON for the FIRST purchase and sal,
OF land that we have any account Of
when Abraham purchased the field o
Ilphron and the cave OF Machpelah
paying therefor four hundred
sHEKELs OF SILVER
current money, II not legislated Il
death. It was revised out OF existence
as full legal tender money, by a Re
approved by Republican congress
and president
You say you object to the change
from the gold standard to the silve
standard because II Will defraud al
creditors of half the value OF thei
debts. II that would be the effect Of 1t
did not the law Of 1873 establishing th'
single gold standard double all OF on
| Indebtedness, public and private, am
defraud the people OF the amount o
such increase? And II so, would no
equity and good conscience say. re
store to the people that of which the!
have been defrauded? But | do no
understand that our silver Democrats
friends wish single silver standard
or desire to repudiate any part of al
honest debt. They advocated the re
storation of silver as one Of the mon
eys OF the constitution, and the FIRE
and unlimited coinage of both gol'
and silver upon terms of equality, a
the ratio now established In this coun
| try. i do not agree WIN my Boil sun
dard friends who claim that the FIRE
and unlimited coinage of silver woul
enable debtor to pay his debts Il
fifty cent dollars. To state the propo
sitlon is to answer II. We have no fft
cent dollars coined by this government
and never will have. When we sepa
rated from the mother country, In GU
first coinage legislation. we adoptc
the dollar Spanish mllleD as GU
limit of value. The value of dolla
is its purchasing power. Protesso
Perry OF Williams college, In his wor
on Political Economy, fifth edition
nnre 227. says: value is value an
there is only one kind OF 1t. and tn
epithet intrinsic is only used TO hel
out a lame theory. and no such epithe
is pertinent to the word value, and n
one can show any difference In tn
yalue OF money, either In respect to III
way in which II arises or In the law
which control II from the value OF an
other commodity. excepting only III
difference already pointed out ina
money by the usages OF society mas
peneralIzed instead of specific pun
chasing power II Is false to speak
rold and silver money as the represen
tatIye OF value. 1t represents nothin
hnt itself. II will buy other thing
certainly. and so will bushel o
wheat. Value Is simply purchasm
mower and money has value becaus
Ne can purchase with H."
The coined silver dollar today, net
vrlthstandlng its enemies ana an nos
die legislation against IT, VIII buy a
~ 20 tha ,,aceagnrIes OF life as tn