New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-04-15
SILVER IN THE LAW OF 1878.
YAS COINAGE OF THE DOLLAR
STOPPED BY A TRICK?
THE TRIBUNE MAKES A SPECIAL INVESTIGATION
OF THIS TOPIC AND PRESENTS THE PLAIN
STORY OF THE ORIGIN OF THE

STORY OF THE ORIGIN OF THE
LAW OF 1873 HEREWITH
To the Editor of The Tribune.
Sir: Incosed find an extract from The New
York World" Is it true statement that silver
was demonetized by trick and only known by
two or three men in Washington until after lapse
of about years time?
one Of our best educated eX-professors In the
Union schools here. in discussing the matter with
me- seems TO credit the statement as true. being
printed in such paper as The World AS this
Was the first time had read such an
p,anation ana opinions conflict somewhat. we
agreed to submit the matter TO The Tribune for an
explanation Very respectfully.
HERMAN L. KENT.
Westfeld, y. y. March 6, 1895.
The article printed in The World" and incosed
by Mr.. Kent contains the following statement
Silver was demonetzed by a trick. and not more
than two or three men in the city Of Washington
knew when il done or. within a year there
after even that II had been done. The Coinage
Committee OF the House reported bill TO codify
the mint laws" The necessity for that CodicatiOn
was well known. and the chairman explained that
no change had been made in any Of the laws, but
that the different acts bearing upon the Mint had
been brought under one section. The bill was not
even read except b. title. 1t was passed without
one dissenting vote III the section enumeratng
the different lawful silver coins of the United States
the word dollar omitted beginning the half
q careful reading OF the biz by every member OF
Congress would not have revealed the trick 20 any
one OF them. The word dollar had been
stricken out by some member of the committee
without the knowledge OF his unsuspoctng col
leagues but who did it has never been discovered.
The statements given above have been repeated
by the advocates of the free coinage of silver in
nil parts of the United States during the last
twenty years. In the book entitled Coins FL
nanc!al School," its author says. page 20:
II silver was demonetized secretly, and since
then a powerful money trust has used deception
and Interpretations that have led tens Of thou
sands OF homes. minds astray.
Within the last year The Tribune has received
scores and scores of letters referring to this sub
iect. many of them quoting the statements given
in Coins Financial School" and irclosing clip
pings from Populist journals in various parts Of
the United states which have repeated these state
ments Many of them have gone so far as TO state
that the bill Of 1878 passed through Congress
by bribery. Several have stated that a by
the name of Ernest Seyd had at that time visited
this country. bringing with him 100000 of British
gold which he used in securing The passage of the
bill During the last twelve months dozens Of men
have written The Tribune letters similar TO the
one published above. asking IL the charges made
about that law were true and begging The Trit-
une 20 publish statement with regard to the
sane either admitting the charges or giving some
refutatOn OF them
The Tribune has heretofore frequently denied
these allegations Of secrecy, fraud and bribery,
but has never made a thorough investigation In
detail Of the history of the bill. II has
seemed 10 The Tribune somewhat hunat
ing 10 the people Of the United States to
be called upon 10 refutc charges which 50
seriously affect the integrity. honor and bust
ness ability Of the American Congress. Recently.
however the requests of this kind have become 50
numerous that The Tribune has finally concluded
that the time has come when a full investigation
should be made or an exact statement OF the facts
attending the inception and passage OF that law
be; ps'epared and placed before the American pub
lie The Tribune detailed me TO do that work. and
I have been obliged 10 visit Washington for the
purpose. I now call the attention of the readers
Of this journal TO plain statement Of the facts
with regard TO the law Of 1873. as have taken
them word for word. from the records and reports
now TO be found or file in the city OF Washington
for the country, question OF this
kind can usually be settled by reference TO pub
lie documents. which are printed and carefully
preserved in the archives Of the Nation
One Of the first complaints made is that men
ton Of the silver dollar secretly dropped from
the mintage law Gas If that an unusual place
capped observation. In what other law should
that action have been taken?
ORIGIN OF THE SILVER DOLLARS
The law which originally made the silver dollar
the unit Of value was enacted April 2 1892. have
that bill before me. II is entitled IAN act estab
fishing a mint and regulating the coins Of the
United States" In Section g. that act provides |
for the coming Of "Eagleseach 70 be OF the value
Of 10 dollars or units and 10 contain 245 grains OF
pure, or go grains OF standard gold. Dol |
lars or units-each 10 be OF the value OF Spanish
Inilled dollar as the same is now current. and TO
contain 37l.l-16 grains Of pure, or 4l6 grains or
standard silver"
Upon careful examination l assert that no !
change with reference 20 coins has ever been |
made in this country except in some law concern
Ing the "mints." and that the proper place for the
law OF 1873 was exactly where it is found.
The amount OF pure silver in the standard silver |
dollar has never been changed The amount OF !
alloy in the silver dollar has been reduced so that
ts weight is now 1925 grains instead Of 4l6 grains
as a frs; provided.
JEFFERSON STOPPED THEIR COINAGE.
BY referring 20 the report of the Director Of the
Mint for 1893 page SO. the following statement OF |
very important fact VIII be found:
No issue OF silver dollars made from the |
Mint from iSo5 10 1885. the conage having been sus-
pended by the direction OF President Jefferson. ow-
Ing the fact that. their bullion value being great
Wbst HhSt.