Alma record. (Alma, Mich.) 1878-1928, 1895-06-28
Norton on the Unit.

of Chicago, EX-Mayor Hopkins ana
William ). Forrest, as to the unit OF
value from 1892 10 1878, and the
question to be determined was
reduced in writing, and submitted to
Hon. William A. Vincent for decis-
ion. The question was as follows:
Sigmund Zeisler states that under
the statute of 1892 both gold and
silver were made units of value in the
United States. John +. Hopkins
denies the proposition.
Judge Vincent, after reviewing
the legislation regarding this matter,
and the views of Alexander Hamil-
ton and Thomas jefferson thereon
says 81 am of the opinion that
under the act of 1892 the unit was
to be the dollar. The value of this
unit was TO be measured III both
gold, and silver, 374 grains being
the quantity of silver and 24l grains
being the quantity of gold, which
was to equally express the measure
and value Of the unit adopted. As
conceive this to be the point at
issue as understood by the parties
to the controversy and which was
intended TO be expressed in the
written statement thereof, | decide
in favor of the affirmative of the
proposition"
Commenting on this decision of
Judge Vincent, in which he gives as
his opinion that the unit under the
action of April ?, 1892, stood on
both gold and silver, John ii. Nor
ton of Duluth MINI, former resi-
dent of Alma, says, It is somewhat
difficult to see just what particular
benefit his finding would be to them
in this controversy, even if 1t were
so. That fact, even if fact, would
not of itself explain why silver was
demonetized under the acts of 1874,
nor what were the conditions sur
rounding monetary affairs in this
country which required the change
from the old and established policy
of the government to shift the whole
burden on gold and destroy the
money function Of silver. One of
the stock arguments of the mono
mentalists is that silver did not
circulate among the people. Neither
did gold, nor had it, for seventeen
years, so that could not have been
the reason. It was not because
silver was a discredited metal, or
because it had deprecated, for when
it was demonetized II was worth
more in the market Of the world
than it was at the miuts, so that
could not have been the reason.
It's demonstration is to be found
in a deep and damnable plot;
A plot which had for It's object the
destruction Of property values upon
the one hand, and the appreciation
Of the value of the money uuit upon
the other.
Mr.. Norton says the gold cult are
particularly anxious to establish
claim of priority over silver, but he
refutes this claim by showing that
silver possessed the money function
long before gold was thought of in
that connection, and that even in
England where silver received the
first blow in 1916, and the "parlia-
ment Of commerce" had not brought
it into being as money of account
and a measure OF value.
Failing to establish. their claim of
priority, Mr.. Norton says they
want to show that the first act
passed under the constitution recog-
nized and established gold as unit
coeval with silver, and then goes on
to say there never was a usurper
that did not attempt to Justify him
self by claiming that his right to
rule antedated that of his predeces-
sors and based his acts on a prior
right, and always denied force and
fraud. This battle of the standards
is no exception, and much has been
written to show that the dollar was
not dropped surreptitiously, but on
the contrary, the fullest and freest
discussion was had.
In reviewing the decision by |
Judge Vincent, Mr.. Norton says the
learned Judge decides this question
wholly on the mint report Of IIamil-
ton, not on the act itself; in short
on Hamilton's individual opinion.
1t is not a matter Of individual opin-
ion, but of law and the statute; if it
be clear and full and specific, must
be the law on the subject. If indi-
vidual trainers of the law are to inter
pref the statute, then Jefferson or
Madison, both of whom were silver
men, may be taken as authority.
AS early as 1882 Jefferson recon-
the following coins:
IA gold piece equal in value TO
$40.
1.-The unit or dollar of silver.
3.-The tenth of a dollar of silver
also.
4.-Thc hundredlh of a dollar of
copper.