The times. [volume] (Richmond, Va.) 1890-1903, 1896-06-05

of lrr IfT4raol+s orIer. rot p sin1le
rfsrlarl silver l1tar 71s eC.lel ar fae
Goserrmeat n'rfs. = may be remarked.
however, that tho subsidiary silver coins
that -. taif-l0Iars snl quarter pieces
-wers u fgI wefgit anI legal-ter-er.
"Hy acts passed IN islf-,' tte Govern
r1ert sought t0 brig back into rae r1lr-
fry the gold w.. p had been eNf-..IeD ny
tho 80 IL ~ AMI 30 it was prDT1fd
that in the colrase q gold and siiter
dollars ay'er flaf rU- ere ra-J should
10 o. % I. Instead NJ = 70 I, fhat g.. i-
was declared thar slEteea pounds ~ sli-
ser sl,lll BE- equal ln value 20 one D'-h1
q FoI.
"Tda ra'i0 di8 rot - truth reDresent
The exact difference .u value hftWeen INC
two metals. and ~ the Acts n ltsf and
l.57 had the eNert - driving silver olt
of circulation because silver dollars coined
a. that tine under fEls ratio were mere
valuable - go.d dollars.
Thus. ID 1894 tie gold coin Tas pfac-
ticaIfy made tie standard u value be-
ca4se silver went 0lf II circulation. ln
l.-t Congress. o. facilitate the circulation
% subsidiary silver Cc.ns, reduced the
amount ~ metal incorporated in such
coin and madn them legal tenders n
amounts not over iva dollars. thus. two
haif-l0iiars had ieas coin than ~hoie
lJiiar piece. and thus The SUBSIDIARY
coins. which. under the Act Of 1872 were
n flIl weight. we're made of lighter
weight ana their circulation secured
DEMONSTRATION ACT
"On the 18Th February. ls13 the ccle-
frated acc known as the acc for the de-
u0gefzaficn of silver was passed. by
fhi8 act The further coinage of standard
silver dollars was suspended. lt was
an act 0emOnefZng silver 20 Tar as ll
prevented the coinage Of any standard
silver dollars iu TIE future. II dll not,
however, affect the silver dollars already
coined and ln circulation. o. any such
there were. Tor be- IL remembered that
ga an the history Of the Government
from 1852 % 1893. though with tho excep-
ton Oi the years Whleh. under tue order
OF Dir. Jefferson, the coinage Of silver
vas suspended fhe privilege OF its free
colfsge at t1e mluta Ol the country had
been accorded. there has been only 3.Df,-
40 of standaid silver dollars coined. This
same act " February u. 1913. provided
for the t,nage Of what was known aa
trade dOlari.a dollar containing 4ZJ
grains of standard silver ~ grains more
Than tle standard silver d0lar-aud were
20 ado Iesm tenlers w ~ five dollars.
About @i.pDoyD N these dollars were
coined but they would not circulate,
and gradually isl in tho market no about
40eJN in the dollar. From 1913 10 1875
there was no coinage Of standard silver
dollars. I'm tho latter year tls Band-
Aiiaon DID was passed which provided
Tor ihe coinage or not lesl than two nor
more Than four millions " dollars of silver
per month, and under this aet million.
vi standard silver dollars wcrs ult m
circulation or silver certificate represent
inS such dollars
TILE SHERMAN LAW.
'In iH0 this act was repealed and
"Aat d. Ano"n aa the sherman Jaw was
plaei. by which t WIS provided that
iAe Government should purchase four and
One-nalf million ol ounce. of silver r.r
moniA ani coin tho same into standard
SILVER dollars, Or Issue certificates ulga-
DIE ln CON ior the bullion 800 uur.haf0l.
Ihls act continued lu force until it8 ui-
cudslns c.au e Was repealed on NOgom-
Der j, l''e, dhl luucr its operations 1861
5sl,pYy silver dollars or certificates were
ISSUED aud put in circulation Thus. uu-
der the two acts-tLe Blaud-Al llson act
of l'h ard the Shcrmaa act OF lsgl-ssI.-
VDoD of fun lcsal-teudel standard silver
dollars, OF silver celtilcafcs representing
the aamo. were coined and put ln clrclla- |
uon a5 against the s.oo1.0JJ OF silver dol-
lars coined hy the Government iu au thc |
previous years OF its history.
Iha niirf ana ~rIueatiOualble Resume |
or ihe history OF legislation iu this cOlu- |
iiy VIII iuiNi7n some llsnt with respect Co.. |
ine solution OK tho problem which now |
coiliohb DOB.
Ii i' admitted by the advocates OF free |
''''f+r '"tt ti- y grains VI ailycr-the |
.'."'.''l DID t standard dollar mot worth |
".. ''N' iH'.h '' -'1 grains oi /
ro' D." 7l'"i.i" 4oIi doI-
70 t..l,t., .'..',.. ',' i'" -ii',
hv I..tf. I....,....- '.''
l.adirr nation. .f r.. o..,.I t..'
closed tr,Ir.f H. t,... ,...,,.... ..t .t...
lt. .alus has I..,, f.,r..i,f ., ,
bg tho ro.f0ratlon az na r.bfs ,l
ffee anI unlimited .o.nsg. a., H.. mimi.
of tho Unnol States is bullion value
wil nc restored t1 i's - price.
aiDFLR PKODCCTION.
"5ocrd answers may De made 20 this
contention. lHr.t. let 10 be remembered
that 10 was NOT simply the adverse leels-
latiOn referred 10 that depreciatei the
value of silver bullion. bur that fho ,po,-
nous production which followed the dis-
coyeries of silver ore in the staf.a M
the West and Northwe.t thar u,ori,od
this drproraflon ln It's ,,lrc ,rtl 90.
aee annual producfion ~ suy.~ 3, 49,.
world during tho five vaer. ,'.,,,,,,'',,. ,'. ,''
with 1873 was about S3.OO0e0. while In
o., A.. ,.,. b.,... .f...., ''''''' .-.'''0''-
lg-3 there had h..n o,l,, of,,,,t g oal, oo, -,
standard suver doti.r, .oi-l,, -, ~
co,,,,,.,. ,,t ,i,o,,..t. 49,. 80 go. .'' -
,,os dronned ami ia coir,eo ~, -. -,
vet L, the acts ~ ,s-S .nd fses
tho coinage OF the standard silver dollars