Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1895-05-09

JUDGE WILLIAM A. VINCENT.
was at one time chief justice of the su-
preme court of New Mexico, and was re-
moved by President Cleveland, owing to
his appointment of Stephen Dorsey as
jury commissioner. His dismissal was
due to IN acknowledged misapprehension
of the facts, as admitted by letter signed
by President Cleveland now held by
Judge Vincent.
Circumstances of the Wager.
During a recent discussion at the Iro-
quois club between Washington Hesing,
John p. Hopkins, Sigmund Zeisler and
w. S. Forrest the truthfuiness Of certain
statements in regard to the unit of value
of the United States from 1,.2 to 1873
was questioned. This argument resulted
in n controversy which. by agreement of
the parties, WINS referred to Judge Vim
cent for decision. The question to be de-
termined WAS reduced to writing and was
as follows: "Sigmund Zeisler states
that under the statute of l793 both gold
and silver were made units of value in tho
United States. John L. Hopkins denies
the proposition" Judge Vincent begins
his decision with the statement that his
views as to free coinage at J6 to ! with
out an international agreement were set
tied and were against the same that fact
being well known to the parties to the
bet. But on the point to be decided he
had absolutely no opinion to start with
Coinage Law History Once More.
The judge heard the views at length of
persons who advocated both sides of the
question submitted and now presents his
decision and reasons therefor as follows:
=
matters relating to the establishment of a
mint to Alexander Hamilton, then secre-
tary of the treasury. January IS 1871, he
communicated the result of his inquiries
and reflections to the house of representa-
tivcs. This report is an exhaustive treat
ise on the subject of currency, on which
Hamilton was almost universally con-
cedcd to be the best informed and most
profound student of the nation.
Hamilton and Jeffrr.On Agreed.
Hamilton evidently asked Thomas
Jefferson to examine the report and ex-
press his Judgment upon it, because in
February, 1892, or two months before the
passage of the act under discussion, JEFF
ferson wrote to Hamilton, I return you
the report on the mint, which have read
over with n great deal of satisfaction.
concur with you in thinking that the
unit must stand on both metals, that the
alloy should be the same in both, also in
the proportion you establish between the
value of the two metals Under the cues.
ton, What ought to be the nature of the
money unit of the United Statcs?' Hamil-
ton says among other things, AS long as
gold, either from its intrinsic superiority
as metal, from its greater rarity, or
from the preiudices of mankind, retains
SO considerable n pre-eminence in value
over silver as it has hitherto had a
natural consequence Of this seems to be
that its condition will remain more sta
tionary.
Hamilton Was n Bimetallist.
"'The revolutions, therefore, which may
take place in the comparative value of
gold and silver will be changes in tho
state of.the latter rather than in that of tho
former But upon the whole 1t seems to
be most advisable not to attach
the unit exclusively to either of the met
ais. The conclusion to be drawn
from tie observations which have been
made on the subject is this: That the unit
in the coins Of the United States ought to
correspond with "A grains and q of a
grain of pure gold, and with 31l grains
and a of a grain of pure silver, each an
swering to a dollar in the money Of ac-
count"