The Green Forest tribune., 1896-07-16
"TFE CRIME Or '73. 4"
It Exists Only in the Minds OF Those Who
Do Not Mnoyy EacEs.

lnteIiigenG people who honestly believe
that a crime was committed surrepti-
tiously against silver in 1873, Congress-
man J. 7. McCleary. of Minnesota, de-
voted considerable time, in his great
speech of February 12, tea presentation
of the important facts connected with
the passage Of the coinage act of 1878.
The facts stand out SO clearly and tell
such straightforward story that it
would seem impossible that any fair
minded man should, after reading them,
continue to believe that there was any
"conspiracy% by anybody that caused
the passage of this act. We can give but
q 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
1669-70, 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-
lating 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 80 men were obtained.
Their answers We're transmitted to the
house in June, 1870, as q supplementary
report on the bill. The consensus of
opinion of these experts, ana 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
ard of value and made silver subsidiary
aad legal tender only for sums not ex-
ceeding 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) Discontinuanoe Of the sill
yer dollar" This was printed in capi-
tails. The diseon tinuanee of the silver
dollar was specially referred TO in four
places in this report.
Contrary to the suPpositions and
statements Of many leading free silver
ties, the old ctandard dollars Of 412b
grains was never in the coinage bill
passed in 1875, and therefore it could
not, as they allege, have been omitted
surreptitiously. In May, 1892, the silver
dollar containing 3s4 grains was in
troduced into the bill. Like the silver
half-dollars it did not have free coin
age" or full tender. This WEES the dol
lar which was afterward dropped out OF
the bill and in place of which the trade
dollar Of 420 grainss with unlimited
coinage, but limited tender, was substi-
tuted.
From the contemporary records it is
clear that the bill was before congress
for about three years; that it was print
ed II times separately and twice in re-
ports OF the comptroller Of the eurren-
cy; that it was considered at length by
the fnence committee of the senate and
by the coinage committee of the house
during five different sessions; that il
was carefully debated in both houses,
the debates in the senate occupying 66
columns and those in the house occupy
ing rs columns of the Congressional
Globe, and it finally passed substantial
ly as it was originally introduced.
Every feature Of the bill was thorough
ly explained in the original report ae-
companying the bill. and repeatedly
afterward in the debates OH the bill it
self
There doubtless were persons n both
houses who did not pay attention 70
either the report or the discussions, for
at that time such subjects were re-
garded as of interest oaly 10 experts
but it certainly cannot be t-utlNffully
said that they did not have fuil oppog
tunity to know all about Il
SO far as concerns the coinage OF gol5
and silver, there were just two i13el2o1-
tant provisions in the get Of ISIS
namely, the unlimited coinage Of sse,e.a
and the limited coinage Of silver. Both
of these provisions have endured ana
will endGre, because, rs have shown
already. this IS the onlv way n wnica
we can have the use of both metals as
money at the same time And though
some very excellent. gentlemen III con
grass in 1873, when tho ware Of Free
silver threatened To overwhelm every
one opposed to it, may have sad some
foolish things about the act OF 1873, it is
a significant fact that net a single re-
publican of those quoted as saying these
things. unless he lives in silyer-pro-
ducing state. has ever voted to repeal
the essential provisions Of the act OF
1879 above cited Except as to the trade
dollar (Which was inserted IS a sneciai