The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-07-15

ate along with detailed reports and ex-
plantations setting forth the changes
made by the BILL II was plainly stated
that one OF the features OF the bill was
"dlScontinulng The coinage of silver
dollars" This bill was Introduced in
the senate April 20, 1871. II passed the
senate January 10, 1871. 1t was passed
By the house OF representatives with
amendments May q, 1879. A conference
committee WAS appointed January ",
1873. The blu became law February
Il, 1879, In the course OF Its passage
through Congress II was printed thir-
teen times and the proceedings taken
with regard 10 II occupy l4i columns OF
The Congressional Record. In the de-
bates the omission VI the silver dollar
was repeatedly referred 70 and the rea-
son of II was stated. The late william
u. Kelley, OF Pennsylvania, (Plg Iron
kelley,) stated this reason as follows:
Ut u impossible TO retain the double
standard. The values Of gold and silver
continually iiuctuAte, You cannot de.
termine this year what Will be the rel
alive valueA OF gold and silver next
year. They were ilfteen to one n short
time ago; they are sixteen to one now.
Hence all experience has shown that
you must have one standard coin, which
shall be u legal tender for oil others,
and then you may promote your do.
NESTLE convenience By having do.
nestle subsidiary coinage OF silver
which shall circulate In all parts OF the
country as legal tender for limited
amount, and be redeemahle at It's face
value by your Ioyernment."-Congrcss-
ional Record, second session, Forty
second Congress, page 2,Sl6.
Is It not unconstitutional to restrict
the free coinage of gold and silver, gold
and silver being the money OF the
constitution?
The only reference TO gold and silver
In the constitution OF the United States
Is In section y. Of article ], which says
that no state shan make anything but
gold and silver legal tender In the
payment OF debts" Clause 4 OF section
VIII, OF article provides that Congress
shall have power ito coin money, reg
ulate the value thereof. and of foreign
coins. and AK the standard OF weights
and measures" The metals which Com
sress may use for monetary purpdsea
are not specified. but the metuls used
are gold silver, nickel and copper.
Whit was the effect OF the uct OF 1879
on the price OF silver?
The free silver advocates say that Il
caused the decline which has since
then taken place IN the price OF silver,
by lessening the demand for II 80 that
Is commercial value at once began TO
fall as compaTed with gold which was
urtitlcially appreciated by becoming
the sole monetary standard. On thu
other hand, It Is asserted that the true
cause OF the declin. In the price OF sill
yer Is the Increase In the production OF
silver at reduced cost. The facts bear
Ing on the case are these:
Silver has gradually declined from
an average OF sl.2Ss an ounce In 1879 10
about seventy cents an ounce at the
present time.
The act OF 1873 did not decrease the
monetary use. OF silver. The coinage OF
silver dollars up TO that time had been
very limited. the total from the tounda-
ton Of the government UP TO 1873 being
only s.Oij,S3S. Other silver coinage went
on under the act OF 1873 largely increas-
Ing the total silver coinage. The follow
ing. taken from the mint reports, shows
the total amount Of silver coinage for
the years mentioned: