The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-02-26
Decentralization OF SILVER.



sional Record, volume Z. part l. 45th con-
gress, second session, page 260. said:
1T the bill demonetizing silver never
was understood by either house of con-
gress 1 say that with full knowledge of
the facts. No newspaper reporter-and
they are the most vigilant men 1 ever saw
in obtaining informa tion-discovere that
1t had been DONE"
Mr.. Burchard, Of Illinois, Congressional
Record. July 10. 1876, volume 4, part 5.
page 1850, said:
THE coinage act of 1873, unaccompan-
led by any written report upon the sub
ject from any committee, and unknown to
the members of congress who, without OPP
position, allowed it to pass under belief. II
not assurance, that it made no alteration
in the value of the current coins, changed
the unit of value from silver to gold
Mr.. Holman, of Indiana, Congressional
Record, volume 4, part 6, FOrty-fOurth
congress, first session, Appendix, page
1885, said:
Il have before me the record of the pro-
ceedings of this house on the passage of
that measure, which no man can read
without being convinced that the measure
and the method of its passage through
the house was a colossal swindle.' l
assert that the measure never had the
sanction of this house, that it does not
possess the moral force of law
Joseph Cannon, Congressional Record,
volume 4, part 6, FOrty-fourth congress,
first session, Appendix, page 1877. said:
This legislation was had in the Forty
second congress, February II, 1873, by
bill to regulate the minis of the United
States, and practically abolish silver as
money by failing to provide for the coin
age Of the silver dollor. 1t was not dis
cussed, as shown by the Record, and
neither members of congress nor the peo-
pie understood the scope of the legisla-
ton
Senator VOORHEES,, of Indiana, Congress
sional Record, January Is, 1878, page 1872,
said:
THE silver dollar is peculiarly the la
boring mans dollar, as far as he may de-
sire specie. Throughout all the
financial panics that have assailed this
country, no man has ever been bold
enough to raise his hand to strike it down;
no man has ever dared to whisper or a
contemplated assault upon 1T; and when
the 18th day of February. 1873, ap-
preached, the day of doom to the Amer
lean dollar, the dollar Of our fathers how
silent was the work of the enemy! Not
a sound, not a word, no note OF warning
to the American people that their faVor-
lite coin was about to be DESTROYED as
money that the greatest financial reVolu-
ton of modern times was in contempia-
ton and about to be accomplished against
their highest and dearest rights! Ihe
tax payers of the United States were no
more notified or consulted on this mo-
a Southern plantation before the war,
when their master made up his mind to
increase their task or to change them
from a corn to cotton field.
Never since the foundation of the gov
eminent has a law of such vital and ire
mendous import or indeed of any import
ance at all, crawled into our statute books
so furtively and noiselessly as this. It's
enactment there was as completely I'M
known to the people, and indeed to four
fifth of congress itself, as the presence OF
a burglar in a house at midnight to its
sleeping inmates This was rendered pos
sible partly because the clandestine move
ment was so utterly unexpected, and
partly from the nature of the bill in which
it occurred. The silver dollar of Ameri-
con history was demonetized in an act en-
titled An act revising and amending the
laws relative to the minis. assay-offices,
and coinage of the United States"
The following extract from letter writ
ten by President Grant to Mr.. Cowdry,
October g. 1873, eight months after he had
signed the bill demonetizing silver, clear
ly indicates that he did not know that the
bill he had signed demonetized silver.
Il wonder that silver is not already
coming into the market to supply the de-
ficiency in the circulating medium -
Experience has proved that 1t
takes about $40000,000 of fractional cur
rency to make the small change necessary
| for the transaction of the business of the
| country. Silver will gradually take the
| place of this currency. and. further, viii
| become the standard of values. which will
! be boarded in a small way. l estimate
| that this will consume from $500, 100000 tC
| $780, 600, 900 in time of this species of our
| circulating medium. | confess tC
| desire to see a limited boarding of money
| But 1 want to see a boarding of some
| thing that is a standard of value the
| world over Silver is this.
n1JJ, v,,ip
unlimited amounts Of silver. and 1t is be-
| coming question, what shall we dc
! with it?' l here suggest solution which
will answer for some years to put 1t IN
| circulation, keeping it there until 1t Is
! fixed, and then we will find other mar
| kets.' See page POS, Congressional Rec
| ord. December. IA, 1877.
Senator Beck, of Kentucky. Congress
| sional Record January II, 1879 page 2o8
said:
Il know that the bondholders and mon
OpoliStS of this country are seeking to de-
| strov all industries of this people in theil
| greed to enhance the value of their gold
| 1 know that the act of 1873 did more thar
all else to accomplish that result, and the
| decentralization act of the Revised Stat
utes was an illegal and unconstltutiona
| contamination of the fraud. l want tC
| restore that money to where it was before
| and thus aid in preventing the cOnSum
| nation of their designs"
| Senator Allison. OF Iowa, Congressional
| Record, volume Z, part 2, Forty-hftf
| congress, second session. page LOSS, said
But when the secret history of this bill
| of 1873 comes to be told it will disclose the
| fact that the house of representatives In
tended to coin both gold and silver, ane
| intended to place both metals upon the
| French relation instead of our own which
| was the true scientific position with ref
| erence to this subject in 1873, but that th
| bill was doctored, if l may use the term
| and I use it in no offensive sense, O.
| course"
Il said I used the word in no offensive
| sense It was changed after the discuss
f6n, and the dollar of APO grains was sub
stituted for it..
Mr.. Bright, Of Tennessee, Congressional
Record. volume Z, part 1. second session
| Forthwith congress, page 5S4, said:
at passed by fraud in the house, neve
having been printed in advance, being
| substitute for the printed bill; never haV
ing been read at the clerks desk the read
ing having been dispensed with by an i'm
| preston that the bill made no maleria
| alteration in the coinage laws; it wa
| passed without discussion. debate bein,
cut off by operation of the previous ques
| ton. 1t was passed. TO my certain infor
nation, under such circumstances that tn
| fraud escaped the attention of some o
the most watchful as. we'll as the ables
statesmen in congress at the time.
| Ave. sir it was a fraud that smells t
heaven. 1t was a fraud that will stink il
the nose of posterity, and for which som
persons must give an account in the da.
| of retribution.
On page 2O6 Congressional Record De
| cember IA. 1877. may be found in a speecl
| nv Senator HEREFORD the following: