Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1896-07-28
Will our neighbor of the Times

Will our neighbor of the Times
please reconcile these two statements
that appear on it's editorial page of
last Wednesday. In its article I'M
der the head of legal Tender" it
says: 'Silver dollars are a legal
tender in any amount whatever-by
the cart-load, by the wagon. load, by
the carload, by the ship-load."
In it's article under the headline
"The Crime of 1873" it says: 'eThis
silver is a legal tender for all debts,
public and private, except interest on
U. s. bonds, or where special con-
tracts are made for payment in gold"
Both these statements can't be true !;
which does our neighbor tie to? And
perhaps it might explain why Presi-
dentIGrant did not ascertain till eight
months after the passage of the act
of 1878, that silver had been demoni-
tized, also why Senator Allison, Jas.
G. Blaine and every congressman
and senator, except Hooper and Sher-
man, denied all knowledge that a
bill had passed suspending coinage of
the silver dollar. We will pay ten
dollars for permission to see a ne VS.
paper article in the files of the Avoca
Gowa) Delta at that time, or in any
other newspaper of that date that
discusses the measure that was pas
sed, disseminating the coinage of the
silver dollar and stating that fact.
May %, 1890, Senator Daniel,o of Virgin
ia, in speech before the Senate said:
II take from the Bankers Magazine
of August, 1878, this extract. 1t says:
In 1879, silver being demonitized in
Germany, England and Holland,
capital of 100000 (s5OO,OOO) was
raised and Ernest Seyd was sent to
this country with this fund as agent
for foreign bond holders to effect the
same object" The demonstration
of silver, see Congressional Record,
May %, 1890, page 512S.
James A. Garfield, of Ohio, Judge
Kelley, of Pennsylvania, d. w. Vor-
hees, of Indiana, James Il. Blaine,
of Maine, Mr.. Burchard, of Illinois,
Mr.. Holman, OF Indiana, Joseph
Cannon of Illinois, Senator Beck, of
Kentucky, and Senator Allison. of
Iowa, all in Congress at the time of
the passage of the bill and none of
them knew what it contained as we'll
as the Times editor now assumes to
have known. Senator Allison said:
"When the secret history of this bill
of 1873 comes to be told it will
disclose the fact that the
House of Representative intend
ed to coin both gold and silver, X
but the bill was doc tored, if 1 may
use the term. y y 1t was changed
after the discussion and the dollar of
420 grains substituted"
Oct. 6, 1878, eight months after he
had signed the bill President Grant
wrote to Mr.. Cowdry: II wonder
that silver is not already coming into
the market to supply the deficiency
in the circulating medium. Our
mines are now producing an almost
unlimited amount of silver and 1t is
becoming question what shall we
do with it?"' See Congressional Rec
ord, Dec. 14th, 1877, page 2Os. John
Sherman said that Ernest Seyd offer
ed valuable suggestions which were
incorporated in the bill. probably
the trade dollar of APO grains men,
toned by Senator Allison, instead of
the dollar that had always been coin
ed by our mints and which Allison
and others thought had been retain
ed. But the Times editor and John
Sherman know better, Sherman
probably getting the Seyd fund for
his knowledge, the Times editor get
ting what was left-a goose egg, (O)
But the question of more import
ance to the people than how it was
done, is, has it been an injury to the
business interests of the people?
Prices have declined fully one half
since then. There is no over product
ion, but under consumption, and, if it
is not in consequence of the money
supply being inadequate for the
public need, what is it.