The Canton times. (Canton, Miss.) 1893-1906, 1896-07-17
1.-THE CRIME OF TO"
!. rx,sts Only In the Minds of Those who
Do Not Know Facts.

Tor the benefit of the thousands of
,,telligent people who honestly believe
Nat a crime was committed surrepti-
.;onslv against silver in 1873, Congress-
,n /. T. McCleary, of Minnesota, de-
.oted considerable time, in his great
.neech of February IL, to presentation
y the important facts connected with
.he passage of the coinage act of 1878.
The facts stand out so clearly and tell
sncb straightforward story that it
would seem impossible that any fair
minded man should, after reading them,
aontinue to believe that there was any
conspiracy" by anybody that caused
tbe massage of this act. We can give but
few of the more salient points from
Mr. McCleary's speech on this point:
The original bill was prepared in the
treasury department in the winter of
1ss9-7O. by John Jay Knox, then deputy
comptroller Of the currency, under the
direction of George S. Boutwell,, then
secretary of the treasury. The laws re-
,oting to the mint had not been revised
for more than generation, and much
confusion existed. This bill was largely
a codification of existing law, with such
improvements as experience suggested.
The first draft of the bill was sub
mitted to leading experts on coinage
and currency in this country, and to
some in Europe. In this way the views
Of more than 30 men were obtained.
Their answers were transmitted to the
house in June, 1870, as supplementary
rport on the bill. The consensus of
opinion of these experts, and of those
who discussed the bill in congress, was
that it was simply to recognize legally
what had practically existed, since the
act of 1853, made gold the single stand
lard of value and made silver subsidiary
and legal tender only for sums not ex-
Feeding five dollars
The bill as introduced distinctly dis
continued the silver dollar. One of the
Eight headings to the division in the
reports accompanying the bill was as
follows: "(5) Discontinuance of the sill
Yer dollar" This was printed in CAPT
tals The discontinuance of the silver
doar was specially referred to in four
places in this report.
Contrary TO the suggestions and
tatements of many leading free silver
lies, the old standard dollars of 412H
rains was never in the coinage bill
passed in 1875, and therefore it could
bot, as they allege, have been omitted
urreptitiously. In May, 1892, the silver
ollar containing 3S4 grains was in
roduced into the bill. Like the silver
af-dollars it did not have 'free coin
ge' or full tender. This was the dol
hr which was afterward dropped out of
be bill and in place of which the trade
ollar of 42O grains. with unlimited
oinage, but limited tender, was substi-
nted.
From the contemporary records it is
lear that the bill was before congress
pr about three years; that it was print
II times separately and twice in re-
crts of the comptroller of the clrren-
Il, that it was considered at length by
be fnence committee of the senate and
the coinage committee of the house
bring five different sessions; that it
as carefully debated in both houses,
be debates in the senate occupying 66
'lumns and those in the house occupy
g rs columns of the Congressional
lobe, and it finally passed substantial
as it was originally introduced. |
very feature of the bill was thorough
explained in the original report ac-
mpanying the bill, and repeatedly |
terward in the debates on the bill it |
Il.
uses who did not pay attention to
her the report or the discussions, for |
that time such subjects were re-
rded as of interest only to experts,
it certainly cannot be truthfully |
9 that they did not have full oppor-
pity to know all about it.
20 far as concerns the coinage of gold
silver, there were just two impor-
u provisions in the act of 1873
nelly, the unlimited coinage of gold
the limited coinage of silver. Both
these provisions have endured and
endure. because, as l, have shown
eady, this is the only way in which
can have the use of both metals as
ney at the same time. And though
ne very excellent gentlemen in con-
IS in 1878, when the wave of "free
err threatened to overwhelm every
opposed to it, may have said some
ilsh things about the act OF 1873, it is
ignlficant fact that not single re.
mean of those quoted as saying these
gs' unless he lives in .silver-pro-
lng state, has ever voted to repeal
essential provisions of the act of
above cited. Except as to the trade
ar (which was inserted as special
cession to the silver producers), the
VI lb13 hQcad nr,ox, &ha