Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1896-08-27

1910 b1N VOhuGA Va 49,
silver coins to five dollars Previous
to this surreptitious change Of the
statute outstanding silver dollars were
full legal tender. Until this uuauthoT.
lied change of the statute Spanish sill
yer dollars were full legal tender and
had been from the foundation of the
Republic.
These two acts, one not read on Its
passage except by title, and the other
the unauthorized act of the Code Conn
missioners completed the demonetiEGS
ton of silver in the United States.
In December 1865 conference of thu
Latin Union-France, Belgium, SwitG'
erland and'Italy-adopted Uniform
Monetary System consisting Of the Tn
limited coinage of gold coins and Of
silver fve-franc pieces, and subSSdi'
airy silver coinage limited to so francs
as legal tender.
In June 1867 there was an interna'
tional monetary congress held at Paris
called onstensibly only to unity coin
age, but resolution was carried in
favor of gold monometallism-the COM
missioner from the United States (Mr.
Ruggles) advocating and voting for it.
This conference was followed by the
introduction of a ''New Mint Code" bill
in each of the states composing the
Latin Union and in Greece and Rou-
mania, all being patterned after the
English bill and the purpose to demon
etize silver.
In July 1873 silver was demonetized
in Germany by means of the same
"New Mint Code" In September 1879
a Monetary Union was adopted by
Sweden, Norway and Denmark, which
was followed in 1873 by the "New
Mint Code"
In 1872 Japan also adopted the "New
Mint Code" but in 1878 finding it was
proving destructive to their prosperity
they, wiser than we, retraced their
steps and restored silver to its former
full legal tender quality and unlimit'
ed coinage.
In June 1875 the "New Mint Code"
appeared in Holland and silver was de-
monetized. Russia in November 1876
adopted the "New Mint Code'' and re-
duced legal tender silver coins to 5
roubles, Is copeks.
The result of these measures has
been that gold is at q premium of so
per cent, while the currency consists
entirely of subsidiary silver coins and
Bank of Russia notes. The gold held
by the bank does not enter into circu-
lation and is held as war fund.
Austro-Hungary in March 1879 srs-
pended silver coinage, but did not lin
it the legal tender of silver CONS. The
money of the country consists almost
entirely of subsidiary silver coins and
paper notes. Some years ago it chang
ed its bonded debt from silver to gold,
and made gold loan of forty million
lbs. to take up its paper currency.
British India suspended silver coin
age in June 1893.
The similarity of the method of pro.
ceedure in each country scarcely took
place by chance. The manner of ats
tanning the destruction of silver coin
age would scarcely have been so uni.
form unless there was behind it an or
ganized effort to attain single pur.
pose.
The same hand apparently directed
the machinery in the United States,
Japan and Europe. Call it what you
may, it was a combination originating
in England to deprive the world of one
half its legal tender money and to
double the value of the remaining half.
In the United States John Sherman
was it's chief agent and accomplished
its purpose by treachery, falsehood and
fraud. Treachery in secretly erasing
the sixteenth section of the act after
the bill had passed the committee.
Falsehood in informing the Senate
when the bill was on its passage that
it only codifed and simplifcd the laws
the operation and conduct
ing of the mints, without changing
the coinage laws and by that means
the bill from being read
and voted upon section by section.
Fraud in procuring the Code Commits
sioners to secretly change the statute
and eliminate the clause making STAN
dard and Spanish silver dollars legal
tender, without authority, or the know
ledge or consent of Congress.
"a big Mckinley club" was organ
lied at Cedarville. Big-got eleven