The Caucasian. (Clinton, N.C.) 188?-1913, 1896-10-22
COINAGE HISTORY.
Acts Leading Up to the "Crime of'.3" q
Passed Through Congress.

Acts Leading Up to the "Crime Of '.3" as
Passed Through Congress.
For the information of many Of
our readers who want to know just
how the crime OF '73 and subsequent
acts Of Congress demopetizirg silver
was committed we herewith give
history OF the coinage of gold and
silver in this country. In all these
quotations We speak from the stat
utes of the United S:ates-at large
and revised
The first coinage act was IAN act
to establish q mint and regulate the
| coins Of the United States," during
the administration of Washington,
April 2, 1892.
Section of that act provided for
the coinage of eagles of 247 8 grains
pure gold, equal TO 270 grains stand
ard gold-aiiow II 12ths fine gold.
| The same section provides for
coming silver dollars, or uuits-of
the value each Of a Spanish mill dol
lar--371 1416 grains pure silver or
4l6 grains standard sllyer-alloy
1855 silver, 179 copper. The other
coin denomination follow IL their le-
spective ratios.
Section IA provides that all bullion,
gold or silver, brought to the mint
should be coined free OF charge. And
the act makes both legal tender for
all payments.
This was the law up TO 1S73-ex-
cept that in 1887 tae commercial
value SO increased over gold that the
weights were adjusted to 4l2! grains
silver instead of 4l6, and it was con-
tinued as the unit measure Of value.
By the act of February II, 1873
18th statutes at large, section IA, it
is provided:
'.The gold coins of the United
States shall be one-dollar piece,
which at the standard weight of
twenty-five and eight-tenths grains
shall be d unit Of value," etc.
Here the reader will see that the
unit is changed from the silver dol
lar of the act Of 1892 to the gold dol
lar by the act of 1S73-or an abso-
lutte reversal of the policy of the gov.
ernment for eighty years. But this
change of the unit of value from one
metal to the other was not all fol
section Is of the same act provides
''She silver coins Of the United
States shall be trade dollar, hah
dollar or fifty-cent piece, quarter
dollar Or twenty five-cent piece, 6
dime or ten-cept piece, and the
weight of the trade dollar shall be
42O grains troy, the weight of tht
half dollar shall be twelve grains
and one-half Of q gram," etc.
Here is the whole case as to th.
change: In section IA the change il
the unit value from the act of 179:
from gold to silver, and 50 far de
monetized silver. Next, section l;
leaves out Of the coinage entirely tn
old silver dollar Of 412l grains AM
only authorizes trade dollar Of ~
grains, which was for export abroa'
to compete in China, Japan and tn
East with Mexican dollars. The1
the change in smaller coins is mad
from the measurement by grain
troy to the gram. Why? The onl
apparent reason is that it conceale'
from the casual reader that thes
smaller coins were the Old standard
The gram is the unit in the metri
system, the grain of the troy weigh
and one gram is equal to Is 43
grains. So two half dollars woul
weigh 37S 0S4 grains, instead of 412
grains of the old standard dolla,
The reader can find sections IA an
Is of the act of 1873 as sections 361
and 1913 of the revised statutes {
1874.
But this act Of 1873 also provide
that gold coins shall be legal ter
der in all payments at their nomin'
value when not under weight" an
that "the silver coins shall be leg,
tender at their nominal value for
IN any one payment"
Section II Of the act of 1893 ar
section 3516 of the revised statutes
1874 provide that "no other coil
than those enumerated shall herea
ter be issued from the mint" Sc
%, act of 1878, provides that Il
owner of gold bullion may depos
for free coinage, but section q pr
vides that the~owner of silver ms
dept sit at the mint into bars or ira,
dollars of 420 grains troy--but tn
no other silver for other coinage shs
be received.
Thus was the banishment and q
monetization of silver consummate
and anyone can see at glance tn
it was done in a manner insidious
it was effective. All these disabi
ties of the act Of 1873 were perpet
ated in the revision of the statutes
1894.
The Bland act restored the doll
of 4121 grains to coinage, but it &
not place the metal on its old bas
and the Sherman act repeals t
Bland act, and substitutes limit
coinage through purchase, as
Bland act did-but neither restol
its unit value and its equality al
money metal in the mints as a leg
tender to all payments.
YOU CAN ENCOURAGE THE CAUSE