The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-02-13
SILVER AS MONEY.

the dispute raised by the Salt Lake
Tribune over the question of the al
legged decentralization Of the silver
dollar. But we add few words on
the subject, because our grooved con-
temporary, in following its one idea,
persistentIy misrepresents the views Of
those who do not look through Its
monoele and who take broader and
more consistent ground.
The latest contention between US
was over the position taken by the
Chicago Herald in reference to the
legal construction of the word "coin"
in the law providing for the redemp-
ton of United States bonds. That
paper claimed that this necessarily
law was passed. gold was the only
legal tender over the amount of five
dollars. This was taken up by our
peculiar contemporary and made to
do duty in its contention that we are
now on an entirely gold basis, and
that silver dollars are not actual
money but only "token COIN" and
Gust the same as greenbacks or other
paper money"
The Chicago Herald did not take this
position. Nor was the conclusion of
the Salt Lake Tribune fairly deducible
from its remarks. The Chicago Herald
did not say that the word t'coin" when
used in recent laws necessarily meant
gold" but only when it referred to
bonds or other obligations issued
when gold was the sole legal tender.
the only coin in which they could be
legally redeemed.
All that the Tribune now has to
say on the matter does not alter that
fact. Quoting the Chicago Herald to
the effect that the government is
pledged to the redemption Of green
backs in gold, does not affect the
status of the silver dollar nor show
| that it is redeemable in gold or needs
redemption. Our contemporary says
we 'purposely left that out'' that we
did so "purposely to deceive our read
ers" That is merely suspecting us of
| its own old tricks. The Tribune
qouted one part OF the article, we
quoted another to show it's attempt to
pervert what the Chicago Herald was
endeavoring to convey. There was no
need to copy or to withhold the para
graph that the Tribune now parades,
because it does not affect the question
in the least.
The position of The Herald is this;
In 1873 silver was demonetized. In
1878 it was remonetized so far as the
silver dollar was concerned. but the
metal, silver was not restored to its
former position on an equality with
gold as money metal, because its
coinage was limited to a given quaint
ity. But the law was entitled. can act
to authorize the coinage of the stand
lard silver dollar. and to restore its
legal tender character" 1t provided
for the coinage of SILVER dollars of
the weight of four hundred and twelve
and a half grains Troy of standard
silver, as provided in the act Of JAN
uary IS, 1897, on which shall be the
! devices and superscriptions provided
4 by said act" It further provided
/ (which coins, together with all silver
dollars heretofore coined by the
/ United States, of like weight and fine
ness, shall be legal tender at their
nominal value, for all debts and dues
public and private, except where
i otherwise expressly stipulated IN the
Icontract"
/ That, we contend. made the stand
ard silver dollar money Of the United
i States in it's own right. The term
Il coin" in the law now. unless it is
Il given another and special construc-
ton because of a contract. means gold
and silver If it have no such signtf.
cation why does President Cleveland
| want new bond issue pay.
able in gold? Why should there
: be a difference In value in the
market of bonds redeemable in gold,
and bonds redeemable in comp
II It is not long since the Tribune. pur