Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1896-07-16
What Is An Honest Dollar?

What is an honest dollar? Mani
testify the dollar of the contract. When
the United States sold a bond for a
greenback dollar, in the sixties, the
dollar with which that bond ought to
have been redeemed was the dollar re-
ceived for it. But, through the man
ipulations of the gold trust, Congress
agreed to pay it in a dollar of COMA
much dearer dollar than that which
was loaned to the government. OF
course, this cheated the people; but,
as greenbacks were looked upon as a
temporary expedient, to be ultimately
taken up with coin, while everybody
recognized the sharp practice of the
bond holder in reaping where he had
not sown, and while very many OBJ
jected to his method of procedure, the
great majority of people acquiesed
good humorediy. They consOled them
selves with the thought that if specie
payments were to be resumed, and we
were to gef back to coin basis, cur
rency contraction would be inevitable,
and the holder of money would be in
luck.
This condition of affairs was looked
upon as a necessary evil-one CT the
legacies of the war that had to be en-
dured with patience. So there was
only the average amount of grumbling.
But when the fund-holder in 1873 Sc
cretly and by stealth struck down one
half of our coinage, thereby doubling
the already enhanced dollar with
which he was to be paid, there went
up such a mighty roar of dissent from
an enraged people that some attention
had to be paid to it. Then followed
piece of legerdemain that would have
delighted the heart of any prestidigi-
tateur. A limited coinage law, known
as the BlandAllison act, was passed,
by which large number of silver dol
lars were monthly added to our cur
rency; but the option of receiv-
ing these silver dollars was placed
with the creditor in all future con-
tracts. That is. it gave the individual
the right to demonetize silver. The
creditor classes were permitted to do
by special contract what the act of
1873 had accomplished for them gen
orally. What one section of the
Bland-Allison act gave to the people,
the section allowing the creditor to
dictate the kind of money he was to
receive, took away. Finally this act
was wiped out, and we are back upon
the gold basis, pure and simple.
To those gentlemen who talk so
glibly about Reputation, we say there
can be no reputation so long as the
creditor receives back the dollar he
loaned, or the dollar he obligated him
self to receive.
BY a resolution offered in the Senate
in 1878. by Stanley Mathews of Ohio.
and adopted by two-thirds majority
OF both houses, day or two before the
Bland-Allison act became law, it was
resolved by the Senate, the House of
Representatives concurring therein,
THAT all the bonds of the United
States issued, or authorized to be is
sued under the said acts of Congress,
herein before recited. are payable,
principal and interest, at the option of
Government of the United States, in
silver dollars of the United States,
containing 412I grains. each. OF stand
ard silver; and that to restore to its
coinage such silver coins as a legal
tender in payment OF said bonds, prin-
cipal and interest, is not in violation
of the public faith, nor in derogation
of the rights of the public creditor"
How could the public faith be vio-