Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-09-11

lpit 10 restore Bolu to our circulation.
That standard was recognized by
Democratic congress In 1855 as the beat
that could be attained under existing
conditions, and as conditions have
grown immeasurably worse since then,
In my judgment the best thing that
We can do now IL to follow the exam
pie set for us by Democratic statesmen
In 1888 and let the existing standard
remain as they did. and coin silver.
and fractional silver, us "a subsidiary
metal and coin all that VIII iloat at
par with gold. II IL said that the con-
gress OF 1853 did not disturb the silver
dollar piece and did not prescribe any
limit 10 It's coinage. That Is true. II
was then no part OF our circulation.
only about two and one-half millions
OF these pieces had been coined since
the opening OF the mint In 1874. while
during the same time We had coined
more than eighty-five million OF doll
lars in fractional silver. The fractional
coin. halves. quarters and dimes. had
always been the popular coins among
our people because OF their superior
convenience. Mr.. Hunter recognizes
this fact in his report. From 1895 to 1871
We coined 222 .000. 900 OF silver and only
about eight millions of dollar pieces,
and they We're nearly all IL not all
coined for export. II was ON account
OF this fact, so stated In the letter Of
the secretary of state In 1906. that Mr.
Jefferson stopped the mint from coin
ing dollars and ordered the coinage of
halves quarters and dimes. The one
mint we then had could only coin about
SIX millions year. II could not supply
the demand for coins for our circula-
tlon. and at the same time coin dollar
pieces To be exported to Asia to aid
persons who were engaged in that
branch OF our foreign trade. President
Jefferson thought that the mint should
be operated In coining the fractional
pieces that We're demanded by our peo-
pie for domestic circulation. In 1929 a
new mint was built In Philadelphia ca
pable of coming twenty millions a
year. and In 1884 new mints Were es-
tablished at Charlotte. n, O., Dab
lonegl, Ca. and New orleans. LA.
our mint capacity being greatly en-
larged. President Jackson had them
opened again 10 the coinage OF dollar
pieces but very small amount was
coined and that for export. No one
would ever have dreamed OF coming
silver dollars FOR our circulation, either
with or without limit, II silver had re
manned at premium as 1t was in 1868.
The silver dollar
is AN INVOLVEMENT COIN.
and the law OF convenience expelled
It from our circulation. MIR. Jefferson,
convenience was the first principle to
be observed in determining the char
acter Of coins. In 1873 we made the
mistake of coining the dollar pieces
| instead of the halves. quarters and
dimes. and the result is that the sill
yer dollars, to very large extent,
| have found their way into the treasury
and the more convenient silver certi-
| ncate taken out in their stead, We
| tried the twenty-cent. FIVE cent and
| three cent pieces, but they have all
| been abandoned because OF their In
convenience. We tried the three dol
lar. the two and one-half dollar and
the one dollar gold piece. They too,
have all beer abandoned for the same
reason. There Is no argument to be
drawn from the fact that congress did
not limit the coinage OF the silver dol
lar in 1853, because In that act con-
gress did not limit the coinage of the
silver dollar in 1853. because In that
act congress was not regulating for
cign commerce, but providing the
means for domestic circulation
/ think have shown that opening
the mlnts to the unlimited coinage
OF silver at 16 10 1 under present con-
ditions would inevitably eSpel gold
and establish silver as the standard OF
value and make 1t the only metallic
circulation. | object TO the silver stan
listing standard because II will de-
fraud all creditors out of one-half OF
the value Of their debts. Every debt
contracted since January ], 1873, was
contracted on the gold standard. The
debtor honestly owes the value of 23,2;
grains Of gold for every dollar prom
lsed, and the creditor Is honestly en-
titled to receive 1t. When II was pro-
posed years ago to demonetize all the
coined silver OF the world and suppress
the further coinage OF that metal
jolned with other friends OF silver IN
denouncing the monstrous proposition
because II was an attempt TO double
the debts OF the world. and to bring
all debts In this country contracted OF
d paper standard, much Of It at less
than fifty cents on the dollar, to pal
with gold Is not the proposition now
to substitute the silver dollar on tht
silver standard for the gold dollar ths
same that we all condemned, except Il
Is the creditor now who Is TO be tn,
Victim Instead OF the debtor them
Whenever 1t has been proposed e
change our standard OF value oui
statesmen have recognized the delicac,
OF the subject and
ACTED WITH DELIBERATIoN
and circumspectlon. In 1874 wher
they changed the relative values o.
the two metals In our circulation the)
| did not cnanHt tine weight VI Alt SllNtl
| dollar because II was the standard o.
value upon which all existing con
tracts were made, and 1t was th'
money OF payment In 1858 they die
not change the weight OF the coin tina
did not AFFECT contracts, When con
gress was about TO establish the frs
mint OF the United States Mr.. Ham
iiton. then secretary OF the treasury
submitted his report on that subjee
TO Mr. jefferson for his examination
and such suggestions as he though
uroper to make. Mr.. Jefferson said t.
MIN in reply: 81 very much doubt {
right now to change the value an'
especially to lessen II. II would leat
10 so easy a mode OF paying on thei
debts" No person would receive TN
least benefit from the change of stand
arl to silver except the man VIII
owes one hundred cents and wishes u
nay II with nifty. He would under I'M
silver standard be able TO discharg'
his debts by paying one-half OF whA
he promised He would have the othe
haif of his neighbours property TO
nothing. This would be gigantic
scheme to enrich one-half OF Il com
munity by despOiling the other hnlf
wherever there is debtor there IL
creditor. and he Is entitled to the sam
protection as the debtor. and Democ
racy stands for equal and exact JUS
lice 10 all. or II stands for nothing
Congress has the power to discharg
insoivent debtors by bankrupt law