The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-06-13

lowings. These people were like the fat
sheep, which one sometimes sees market,
ed for slaughter. Their single function In
life is to look plump and wait for tne
butcher. The butcher is usually the prac-
teal politician. In this case it was the
financier. But these are details which
today we have no time TO enter upon.
The monetary union of 1855 was the be-
ginning of that scheme of reckless avid
ity and dark intrigue, which, in the
course of a few years, destroyed one-hali
of the metallic basis of money, plunged
the comercial world into bankruptcy, and
pledged it to conditions commercially i'm
impossible to fulfill, especially dangerous
to endure. These conditions menace the
peace of the world. l do not ask for
vengeance, but for justice. Let the fund
holder be paid in gold. He is not the
1868 and 1873, but his assignee, an limo
cent third party, upon whose title there
is no stain of fraud. Let him be paid IN
gold, n In gold only. So far as the
present fundholders are concerned. the
mischief is done and it cannot be equita-
bly, repaired.
For POsterity.
Sut as for posterity, whose affairs we
are pinning down to the capriciouS and
inadequate limits of a single metal, as
for the future stability of contracts which
twenty-five years of c-atastrophical eXpe-
rience Should convince us cannot be Sc
cured by means of gold money, say let
us at once restore the ancient law.
From 1865 to 1870 the fundholding syndi-
cate, with whom it is now quite evident
this intrigue originated, was incessant IN
its operations. Numerous conventions
under its patronage were held in France,
Belgium and Germany. Its influence is
plainly d~iscernible in the t~reacherouS de-
lection of certain party leaders during
the American presidential election OF 1905
in the ~gratuitouS credit strengthening
and the appropriation clause of Bout
wells needless 81. 800, 10000 Q funding bill.
mintS to the private and unlimited coin
Can ~ Af tho vi = mi
code, which furnished the example prece-
dent and Justification for the analogous
alteration of our own unit code, namely,
the alteration which -demonetized silver,
and threw the commercial world into
bankruptcy. 1t is to the circumstances
connected with the alteration of the Brit
ish mint code that l now ask your espe-
cial attention. The mint law of 1916, sec
ton 8, the law which closed the British
mintS to the private and unlimited coin
age of silver, whilst it opened them TO
the private and unlimited coinage of gold,
left it in the power of the crown at any
time (by and with the advice OF the
privy counciD, to substantially realize
such policy. In other words, down to
the year 1870 the sovereign of Great Brit
ain had the power by proclamation to re-
open the minis to the private and unllm-
tied coinage of silver.
This provision of the law appeared in
an amended form in section 8, on page 3,
lines 1920. of the bill of 1870, next to be
mentioned, but it is Nowhere to be found
in the amended bill nor in h statute
into which it was erected.
Wanted More.
Following is the provision of 1916, as
amended in the original bill of 1870, lines
500:
"Wherafter, the date in behalf fxed by
a proclamation under this act, any per-
son or body brings to the mint any silver
bullion it shall be assayed n coined and
delivered out to such person at the rate
of siXty-two shillingS for every 576O grains
imperial weight, or 73,24195 grammes
metric weight of silver bullion of stand
nomination the same is coined"
On the 10th of February, 1870, the Dill
containing this provision was brought IN
to the by the chancellor of the
exchequer (Mr. Robert Lowe, and Mr..
Stansfield. Its proposed object was to
consolidate and amend the law relating
to the coin in her majesty's mint. me
claus which might have opened the
minis to the coinage of silver, had disap-
peared altogether, and no mention or TINS
elimination appeared in the debates re-
I'm section Z. clause Z, the following ital-
icized words were inserted making the
read as follows:
ITO regulate any matters relative to the
coinage and mint within the present OF
the crown, which are not provided for by
this act"
On March II, this bill was considered
amended mo ~discussion), and on
wa IL ALL ~ RdtoS0 49,
without discussion.
Coinage of Great Britain.
There was another very important
alteration made, one which destroyed the
power of the crown to make foreign coins
lRA tender (this included the Indian ru-
pee, but for the present l propose 10
deal with the alterations which destroyed
royal prerogative as to the silver
coinage of Great Britain.
When it was up for second reading. Mr..
Lowe sale that with the exception OF the
economy mentioned. the bill proposed no
of the law and, seemingly as
an apology for it's length, added that
her majesty has very large prerogatlVes
in the matter of money, and II they were
p~rerogatives in the matter of money,
and if they were not recited in the bill II
be supposed that we were ANXIOUS
to impose limitations upon them. The
queen has now. 1 apprehend, by preroga-
a owe TO introduce into any OF her
dominions any coin she pleases although
such power could only be exercised by
by the privy
When it was up in committee March 10,
Lowe again said hat the object of
bill was not to alter but merely 10
perfect the law. Yet, without discus
sion, and without hesitation, he accepted
amendments which not only altered the
law, but altered it fundamentally. and
opened the door to all those consequences
which have been alluded to elsewhere.
Another Lie.
In the lords, on second reading, March
Is. the MARQUIS of Lansdowne, explained
hat the bill made no innovation of any
kind. no new principle was introduced in
the bill" etc. Upon these assurances II
read and committed. When motion
was made on March % to go into com
on this bill. Lord Kinnaird re-
that il had mot received due
consideration, for it passed through its
various stages in the other house after
midnight, and amendments were intro
1uced by members who represented es-
interested in the question.
The noble marquis had stated at the sec
reading, that 1t contained no innova-
ton and no new principle
The Marquis of LanSdoWne thereupon
that he had aid 1T contained
no important innovation with the excep-
of the clause transferring the mas
of the mint"
But replied Lord Kinniard. Il on
end that it contains very important al
-~erationS."
Yet from beginning to end, neither in
House of Commons, the House of
Lords, nor in the committees of either
was any intimation made of any
purpose to curtail the queens preroSa-
of silver coinage, nor did any dis
,ussion take place on the subject.
Dust in Their Eyes.
Lord Kinniard was the only person in
house who mad more than trivial
objections, and as to his objections they
we're insufficient to stay the progress of
he bill, which partly on this day and
partly or March "A went Though the life
eSs ceremony of its passage through the
Lords. When Lord kinniard uttered his
asst protest he said he believed that dust
still thrown by certain parties into
he eyes OF the deputy master of the
gold dust, for this went into
heir pockets"
But as it is evident that he had not the
iaintest suspicion of what was really 60
on. it yet remained to be seen into
whose eyes the dust had gathered. On
he following day, March 25. the bill was