The pioneer express. [volume] (Pembina, Dakota [N.D.]) 1883-1928, 1896-08-21
THINGS TO REMEMBER.

THINGS TO REMEMBER.
We have "16 to 1" now, but we do
not have "free coinage at 16 to L."
The present fall of prices i'm COM
modities began eight years before the
crime of 1873.
During the five years, 1S73-1878 of
decentralization" (non coinage) of sill
yer dollars, we had only a"greenback"
currency, and no metallic coin in circu-
lation.
We had nometal money of any kind
in circulation from 1861 to 1878. That
was decentralization" of both silver
and gold.
We never had any large or general
circulation of silver dollars in this
country up to 1873.
Only $8,031. 900 silver dollars had
been coined altogether before 1873,
and most of these had disappeared as
fast as made.
Silver dollars and gold never circu-
lated ''side by side" any length Of
time in this country or any other
country under free coinage.
The dollar of our daddies was Is
to l dollar, at first; it had TO be chang
ed to 16 to 1. Was it a s'crime?"
Twice since 1873 has the United
States attempted to keep up the price
of silver by purchase at market rates
by government. First about half.
and the second time the whole pro-
duct was bought. Instead of raising
the price. the purchases only stimu-
late production.
Silver dollars are legal tender to
any amount and have been since 1878,
and that is since we have had any sill
yer dollars to TENDER
Ten American silver dollars can be
changed into an eagle. 1t would take
nearly nineteen Mexican silver dol
lars (Which contain little more sill
yer than American dollars) to buy a
gold eagle.
A silver dollar with an American
stamp Is as ''good as gold' because
the stamp is really promise to pay
gold" A silver dollar with Mexi-
can stamp is worth only about half an
American dollar though it also has a
government stamp."'
May l, 1906, President Jefferson is
sued an order suspending the coinage
of silver dollars, because being worth
more as bullion than coin, they dissa-
earned as fast as coined, and none
were coined for twenty-nine years af-
ter. Hence this was the first 'scrlme
against silver" and its extent was al
most six times that of the crime of
1873. But the bullion price remained
nearly the same, during all that TWEEN.
ty-nine years that silver was ''demon.
etized" by the democratic president
Jefferson.
We have coined as many silver dol.
lars every four months, since silver
was demonetized, as our daddies did
in eighty years. They coined about
5000, 900 silver dollars to 1873 and
since then we have coined about e4a5,
0O0,0O0.
There was greater fall in average
prices Of commodities from 1908 to
1850, when silver remained with little
change. then since 1873, and yet, the
present fall in commodities said to be
caused entirely by the, ''demoneti.
zstion and consequent depreciation
OF silver"
In 1872 the public debt amounted
to almost $500 per capita. In 1892
1t was reduced to $l2.se per capita.
Meantime silver was depreciating in
price.
Money has two principal functions
or qualities, viz. to pay debts and to
purchase property. Government can
only clothe money with the debt-pay.
ing legal tender quality, the purchase
power Is matter between seller and
buyer. Government can force you to
receive "53 cent" or any other dollar
for debt, but you don't have to sell
your property for such dollars except
on your own valuation.
II the silver men say the present
gold dollar is a two-hundred cent dol
lar, then the laboring man and wage-
Garner is getting double pay.
Free-coinage OF silver is experimen.
tai at best,n0 one is certain it will be-