The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1896-09-11
A BIT OF FINANCIAL HISTORY.
RIDPATH ON SILFER'S DECENTRALIZATION.
Some Pertinent Remarks Important and the Legislation that
Has Followed in It's Wake.

The following is from the Peoples History OF the United
States tissue 1859 by John Clark Rdpath Ii DPage 400
The year 878 was noted financial history for the pass
age of the congressional known the reconciliation OF
silver When the American republic founded $780, one OF
the most important imposed the treasury the
abshment of system of coinage In this time there might be
said be unit of value the old states For the most part
the British pound sterling with its subdivisions of hngs and
pence was recognized the money Of The revolution
had driven coin from the country and the devices OF paper money
used the epoch of independence various and uncertain
By the first coinage regulations of the United States the stand
unit of value the American silver dollar containing m
grains of pure silver The SpanishAmeca dollar this value
and Hamilton secretary the treasury adapted the standard
the existing dollar By this practicable recon
Spanish dollars into the American denomination without loss or
inconvenience.
the adoption of this standard 1892 until 1873 guam
W Of pure metal the standard unit had been changed
though the of alloy several times altered From 1892
until 1884 the American silver dollar virtually the only stand
ard unit In the year just named the coinage scheme enlarged
and adjusted basis of sixteen of gold and silver In
S4o coinage gold dollar provided for from that
time forth the standard existed in both metals Nor might
be determined whether accounting the United States gold was
measured the silver standard silver the standard gold
With the coming Of the civil both metals disappeared from
circulation and became commodity of In the years
1884 time when owing the premium gold and silver
both metals of circulation of acts was passed
congress bearing upon the standard Of value whereby the legal
der quality Of sver-very adroiywas abridged then
abolished These enaCments completed by the report of the
coinage commte in 1873 by which provided that the silver
dollar should hence forth be omitted from the list of coins
struck the national minis The effect of these
the gold dollar % and 22hundedh grains the single standard
unit Of value the United States In other words the
concident with the destroy bmetac
troduce the monometac system of money our country
The Interior object far The time was near
hand when specie payments be resumed by the
The debts Of the nation payable CON- that both gold
and silver con the option of the payer Meanwhile great
silver mines of the western mountains discovered
oeen by the debong classes that silver likely
abundant and cheap that metal should be retained the
age therefore, the payment the national debt would proper
tonay easy 1t deemed expedent strike down time the
egende quality of silver in order that the whole payment of the
bonded indebtedness of the United States be made by the
standard of dollar worth than the dollar of the the
contract namely by the single standard of gold
The step this prodgous scheme was the passage of the
resumption act This adopted in 1875 By prOv
sion made that the January 1879 the government
the United States should begin redeem its outstanding obga
tons in coin AS the time for resumption drew the premium
gold fell off, and length the question raised the
meaning of the word coin the act of resumn specie payment
Now for the first time the attention Of the people large
aroused to the fact that by the of 1884 the privilege and
right of paying debts in silver had been taken away 1t was per-
and private must be discharged according to the of the
gold dollar only.
The situation justified the tumut that followed cry for the
reconciliation of silver heard everywhere Vainy did the
bondhOldng interest Of the country itself stay the tide
The question reached the government and early
passed by congress for the restoration of the legal tender quail
Of the old silver dollar and providing for the compulsory coinage
that unit the mnts the of less than So
month Notwithstanding the unanmy of the country favor Of
he The
under tremendous majority for nearly threefourhs of the
be of congress- without respect party affiliations gave their
support the bill The old double standard values thus
meaurab restored but the fight for the preservation of silver
monetary unit only begun.
$4,000. ..-. La .--.., =,