Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1896-09-03

grains. This was the weight oftwo hall
dollars. The old standard dollar OF 4123
grains was never in the bill. DR..
Linderman, director of the mint, COM
menting on the bill, as submitted In
1870, said "Seclion II reduces the
weight of the silver dollar from 412! to
3S4 grains. / can see no good reason
for the proposed reduction in the
weight of the coin. 1t would be better
to discontinue it's issue altogether. The
gold dollar is really the legal unit and
measure of value. Having higher
value as bullion Q03i cents) than its
nominal value, the silver dollar long
ago ceased to be coin of circulation,
and being of no practical use whatever
its issue should be discontinued"
The purpose of the bill at first was to
keep the silver dollar, reducing it to 8
subsidiary coin, to prevent its exporta-
ton, at the same time making it legal
tender for only small amount, but it
was afterward thought best to drop it
altogether. The trade dollar was coin
ed at the request of the Californians for
use in trade with China and Japan,
where the Mexican dollar crculates.
Mr.. Kelley, in April, 1872, discuss
ing the bill in the House, said: "Sir, l
call the attention Of the House to the
fact that the gentlemen who oppose this
bill insist on maintaining silver dollar
worth 81 cents more than the gold
dollar and worth 7 cents more than two
half dollars, and that so long as those
provisions remain you cannot keep sill.
yer coin in the country"
1t is unnecessary to comment on the
language of DR.. Lipderman and Mr..
Kelley. They state the whole motive.
Subscriber" is informed that the
reason why the silver dollar was omit
ted from the list of coins in 1873 was
that it was worth 1881 cents and was
consequently exported or melted. Being
worth more than the gold dollar, it had
not been in circulation on that account
for many years. 1t had done no harm
and was doing no good. 1t was the
Secretary of the Treasury, with the eX
perts of the mint, that proposed that
silver dollars should be omitted from
our list of coins, neither the classes nor
the masses having hand in it. The
silver dollar has always had 37lf grains
Of silver in it. At first it had 44a
grains of copper in it and weighed 416
grains. The lessening of the copper,
bringing its weight down to 4125 grains,
did not depreciete it. When in 1884
the gold in the dollar was reduced
from 244 grains to % % grains the OBJ.
ject was to prevent gold coin from be-
ing exported or melted down by reason
of its being worth more than the silver
dollar The purpose was to bring gold
dollars into use. The gold dollar then
became our actual unit of value and
has so continued till now
From 1892 until 1873 371} grains of
pure silver was the unit or one dollar of
one hundred cents. Such unit measur.
ed everything else, gold and all the
fruits of the earth and the labor Of man.
By the act of 1878 the unit was chang.
ed tn 25 $40 grains of pure gold, and
silver was destroyed as money metal
by this country at this time.
From 1865 until 1878 there was no
silver money and no gold money in circl.
lation In this country. The currency
or money of the country was paper,
even small notes, fractional currency,
shin plasters." Metal money, gold and
silver was resumed in 1878 partially
and 1879 fully. l would like some one
to give reasonably satisfactory answer
to the questions put to the World and
the Sun or course the answers of the
World and the Sun are no answers to
the same. JOHN Nj. JOHNSON.