The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1895-08-23

After illustrating the greater facilit
OF computing accounts in dollars an
tenths than in pounds, shillings am
pence, he says: "The unit, or dollar.
"A known coin. and the most familiar O
all to the minds OF the people. Ii is al
ready adopted from south to north: ha
identified our currency, and therefor
happily offers itself as a unit alread,
; introduced. Our public debt. our rcaui
sitions and their appointments, hav
given it actual and long possession O
the place Of unit"
Having decided to accept the dolla
as the unit it became necessary to .sa,
with precision what dollar is" ant
Mr.. Jefferson, after giving the results OF
Sir Isaac Newton's assay Of the differ
ent silver dollars in circulation in l7l7
suggests that "if the dollars circulating
among us be of every date equally, W.
. .ould examine the quantity Of pur,
METAL IN each and from them form an
average for our unit" He also consid
cred the quantity of alloy to be used
and recommended it to be Ill of fine
~>@'s'''s AAN 'u- S'oi'i tllt VIE TdtIO Oe
tween the two metals be fixed at ID
pounds Of silver to one pound Of gold.
The same alloy was to be used in both
3 lver and gold coins. While the silver
q )lar was the unit. both gold and silver
were to be equally free at the mints and
there was to be no discrimination against
eitncr under the government dies or at
the treasury department = First, both
were to be used as money Of redemption
with precisely equal rights as money.
This point having been determined. the
relative value of one metal TO the other
was to be fixed by an average Of the
market prices.
The value Of the unit, or dollar, was
found III the way suggested by Mr.. JEFF.
ferson to be 31l a grams of pure silver,
and that was declared to be the weight
of the unit, or dollar. in the law Of 1892.
Ibis weight has never been changed.
Mr.. jefferson recommended that the
S)llowing coins be struck:
~ A golden piece, equal in value
o $40
'2. The unit. or 81 itself. OF silver.
80. The tenth of 81. of silver also.
81. The hundredth Of 81, of "copper""
Further on he recommends the half
dollar, the double tenth and the 5-cent
copper piece, on the half bit. All gold
and silver coins struck at the mint were
to be lawful tender in all payments.
The law Of 1892 enacted every mate.
rial suggestion made by Mr.. jefferson;
that is, the author Of the declaration of
Independence and the founder OF Dem.
ocracy was also the founder of the bi.
metallic system that existed from 1892
20 1918.
as If to emphasize the historic fact
hat the Democracy was responsible for
'ur coinage system from the DAYS OF
Washington to the first administration
u Grant. there was no change made in |
he Jefferson law Of 1902, signed by
tcorge Washington. president, until in |
a. when the ratio was changed from
. to ! to 10 to by reducing the gold
u the eagle from 2i7 to 232 grains,
he silver dollar. or unit, remaining un.
hanged This law was signed by An.
rev jackson. In 1897, Just before
ackson retired from the presidency, he
lgned the act OF 1897. n law reducing
he alloy in our silver coin so as to bring
he weight of silver dollar down from
10 to il2is grains and fractional silver
! the same proportion, but reiterating
ne legal tender character of all gold
nd silver coins for any sums whatever.
We thus find that there was not a
ne or syllable in the coinage laws es-
lblishing our money system not sug-
nsted by Democrats or enacted into !.
w by Democratic congresses. Jeffer.
IN was the author of the system. 1t !.
as his great mind that formulated the
4 OF 1852. 1t was jackson, the nomi.
se OF the first national Democratic I
invention for president, under whose
ADMINISTRATION the only changes that
le first so years of the history Of the '
public witnessed occarred, and both =
ese changes Were friendly to silver, y
e money Of the people. Until 1873 !.
ere was not coin struck at the mints, =
neither OF gold or silver, except under =
emocratic laws, devised with view Y
the welfare Of all classes. Free and y
limited coinage Of silver as well as u
Id was the inspiration Of the same u
ind that declared freedom and equal.
among men a an inherent right; Of II
same mi ID that spurned the pound" u
the unit OF value. because he could !.
{ brook the spectacle Of 1.-THE pound u
Ring as a common badge, hung about p
their necks" after the struggle Of 1, ae
2 colonies for independence had been 4
IN. Jefferson scorned anv associa. III
n which might suggest the inability IN
his country, even in its infancy, to !.
iintain with di-nity and prosperity v
character as one of the nations OF the VI
'th. IN
Jackson was called upon to defend ia
} fabric of bimetallsm, which Jeffer. dt
had reared, from a conspiracy OF Of
lkers fully as determined, If not IA gr
reaching. ~ that which we face to- III
7. Never was there more cour- to
'ous battle for the plain people than pa
: sturdy Democratic leader and hero ev
ged from almost the beginning to the 70
80 OF his two presidential terms. In tn
midst OF his struggle he went TO the re-
pie for vindication and was returned no
the whitehouse by an Overwhelming ha
jority. The other course would have th
n easier. He might even have been an
elected had he permitted the United rel