Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-11-02
AN ABLE ARGUMENT.
What is Money, What Constitutes Its Value
and What Power Has Congress to Create
Value as to Money?-These Points Dis
cussed by west Virginia silverite.

and What Power Has Congress to Create
Value as TO Money ?-These Points Dis
cussed By a S,est Virginia Silverite.
BLUEFIELD, W. Va, October go
To the Editor of the Register.
Sir:-The Republican organs, both great
and small, and all the 8. o. p. calamity
howlers and other gold bugs, make a
great cry about the 50 cent dollar, and all,
with seeming greatness of financial and
economic learning. assert most positively
that the government cannot add value TO
a thing by legislation, and that silver
coined will be worth no more than ITS
bullion value is now under the present
law, although made by the act of Congress
a legal tender with gold Now let US see
if or not the value Of all money does not
depend upon its legal tender purchasing
and debt-paying qualities. and TO DO this
let us look at the records i'm the matter,
which are as follows: In 1892 Congress
passed an act making the money OF the
country TO consist Of gold and silver-sll-
yer being the unit of value, and the ratio
being 10 10 1. and the standard silver dol
lar to contain 35l4 grains fine Cthat IS,
pure silver. See report or secretary OF
the United States Treasury Circular l2S),
issued July l, 1896. page 30. The weight OF
the silver dollar under said act to be 4l6
grains. of the fneness of 1924, and provid-
ing further for the coinage of the half
dollar OF POS grains of the fineness of .S9Z,i
(being. it will be noted, Just half the
weight of the silver dollar and of the
same fineness), and making all such money
so coined full legal tender for all debts,
both public and private. See same report,
pages 80 and 40. And under this act two
silver half-dollars We're as good to pay a
debt of one dollar as one silver dollar, or
one hundred silver half-doolaTs were as
good to pay a debt of $50 as fifty silver
dollars. Why? Because both were legal
tenders without limit.
Now, follow still further on with the sill
yer dollar and half-dollar In 1897 the
weight of the silver dollar was changed
from il6 to 4l2i2 grains, and the fineness
from .S924 to 5000 taking out 80 grains Of
the alloy. but still leaving in the 3lA
Grains Of pure silver) and by the same act
0S30 the weight of the silver haif-dollar
was changed from 21S grains Of 1924 fine
ness to 2O6l. grains of 500 aneness' max
ing il of the same ineuess and one-hat the
weight of the silver dollar. yet leaving the
existing full legaltender. See same book,
pages 80 and 40.
Congress by act Of 1883. changed the
weight of the hall-dollar Cby taking out
thereof some Of it's silver and alloy. from
2o6la grains to 1872 grains and then by act
of 1873 changed this again by providing
for the half-dollar TO contain 1923 grains
The half-dollar under the act of 1913 not
having by 1p4 grains, and the one under
the act of 1873 not having by 1874 grains
as much as the old haf-dollar, or. in other
words. two half-dollars under the act of
1853 weigh only 3S4 grains. and two half
dollars under the act Of 1873 weigh only
8s5.g grains of 500 fneness. twhile two
half-dollars under act OF 1873 weigh 4l21a
grains 900 fine): and law was passed by
Congress in 1879 making all haf-dollars
coined. or to be coined, full legal tender
TO the amunt of $40 for any one payment
at any one time. The weight Of the silver
dollar has never been changed since 1897,
but still remains of the weight OF 4l2is
grains Goa fine.
Now, although the above be facts and
by these facts 1t IS shown that the silver