The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-05-09

Uf pure. or two hundred and eight grains
lf standard silver: Quarter dollars. each
unit and 10 contain ninety-two grains
3 thirteen sixteenth parts of a grain OF
pDre. or one hundred and four grains OF
kfandard silver. Dimes, each TO De or
khe value OF one-tenth OF a dollar or unit
Ind to contain thirty-seven grains and
three nth parts of a grain of standard
pflver. Half dimes. each TO be Of the value
of one-twentfeth of a dollar. and to con-
tain eighteen grains and nine sixteenth
P par so or e a,s gram nars ot d pure s or 1" OF standard gra,ri
oliver. Cents, each to be the value of the
ene-hundredth part OF a dollar and TO con-
tain eleven ~pennyweights OF copper. HAIR
cents each 10 be the value OF half a cent
and to contain five ~pennyweights and a half
q pennyweight OF copper.
OF gold to silver. in all coins which shall.
~ law, De current as money within the
United States. shall be as - to ], according
90 quantity in weight OF pure gold or pure
silver: that Is TO say, every fifteen pounds
weight Of pure silver shall be OF equal value
pure gold. and so In proportion as to any
greater or less quantities of the respective
metals
CONCLUSIONS OF THE JUDGE.
A careful reading OF Secretary Hamil-
toms report and the act OF April 2. 1892.
cannot fail to convince that Congress sub
stantially adopted and enacted all OF mis-
views agreeing with those OF Thomas JEFF
ferson. II is true that Congress did not
provide for the coinage OF a gold dollar OF
IA grains. probably for the reason that il
would be too small to be practicable for
use, and because, as suggested by Hamil-
ton. IN the same report, in small payment
~ Is not perceived that any Inconvenience
can accrue from an entire dependence on
the silver and copper coins. The chief in
ducemenS to the establishment OF the small
gold piece is to have a sensible object in
that metal. &c we'll as i'm silver. TO express
the unit. Fifty thousand at a time in cir
cuiation may suffice for this purpose. IL
. f~Unaf n~1 n4Vna 20 ~ r.rA
that If the provision for the silver dollar
In the act of 1872 had been omitted. we
the eagle. or PA grains of gold. as recon-
mended by Mr.. Hamilton. as the idea was
10 have the value OF denomination made
Hamilton's report. and the act of 1872, TO
have free and unlimited coinage Of gold and
silver, after deducting one-half of per
cent. as in said act provided, at the ratio OF
40 10 i, the then commercial values of the
two metals, and both were made legal ten
1T is undoubtedly true that the Spanish
miled dollar. as 1t was then current. was
the starting point, and the number of grains
60 compose a gold dollar was ascertained
by dividing the number of grains in the
silver dollar by fifteen. but this does not
afer the fact that units were expressed in
gold and silver. On the contrary. IL seems
TO show that both were made units of value.
The word unit was employed as the equiv
alent OF dollar. and the dollar was to con-
eist OF either one OF two different things
s Snectentn part Of 2aA grains of gold, or
4 y Jt1 no - fdlut6
might be embodied in given weights of any
two given commodities, such as wheat or
corn A unit OF value is the unit in which
values are expressed; the value OF both
gold and silver are expressed in the act
of 1872. so We had two units of value. If
both had not been so expressed we could
not have had bimetallism. The unit is simp-
~ the starting point in the reckoning of
money. In England, the unit is the pound
sterling; in Germany the mark: in France,
the franc, while Section 20. of the act of
1Is2. provides. that the money OF account
of the United States shall be expressed in
dollars and units etc.
The language of the proposition submit
ted for decision is not as clear and salts
factory as might be desired. but / am of
the opinion that under the act of 1872 the
unit was TO be the dollar. The value of this
unit was TO be measured i'm both gold and
silver, 314 grains being the quantity of
silver and 2fA grains being the quantity of
gold which were to equally express the
measure and value of the unit adopted. As
i conceive this TO be the point at issue. as
understood by the parties to the controver-
ey, and which was Intended TO be expressed
IN the written statement thereof. / decide
IN favor of the Affirmative of the PROPOSE
ton. WILLIAM A. VINCENT"