Turner County herald. (Hurley, Dakota [S.D.]) 1883-19??, 1896-09-03
stadard in France with ratio OF / to

stadard in France with ratio OF | to
l5t.
lS04-President Jefferson ord e
coinage of silver to cease. Ii was not
resumed until 1920, when only 1000
was coined During all this period,
and to some extent afterwards, no
American gold or silver coins circulate
ed, for this reason: The admission ol
foreign coins into this country was
countenanced. and these being inferior
IN value TO American coins became the
Iouly coin currency (Ihe fathers who
insisted on such sound money standards
would be known as money sharks"
aua "Shylocksn in modern populislic
1 lilerature.
1SlG-Abolition OF the double stand
ara in England, which had been at the
ratio OF / TO 1871.
lo34-Goid ratio increased by adop-
tion of Is to / by President jackson
1 practically establishing the gold stand
ard. Then the dollar of the daddies'
| ceased TO exist.
lS35-For nearly forty years follow
! ing 1885 silver bullion was more profit
able to export than coin. 1t was then
under jackson, that we went to the
single gold standard, where we have
remained until now. The dropping of
the silver dollar from the coinage in
1873 was only making legal the pract
tices which had prevailed from 1884
until that time.
1s47-Dscovery OF the gold mines in
California.
lS5l-Discovery of the gold mines in
Australia.
l873-Lowering the weight of silver
pieces OF less value than ST to the ex-
tent of 81 per cent and limitation of
their legal tender power to S5.
Maximum OF gold production in Cali
fornia reaching to 800, ,000,O
BY the passage Of the law OF 1858 con-
gress reduced the weight of minor
silver coins and provided that the gov
ernment should buy its bullion and
mint them. That is just wnat the gov
ernment has been doing, only ii in
cudes the dollar with the minor coins.
Why did our government do that in
1888? To prevent greedy spectators
from buying bullion and coming it a1d
making s per cent profit by passing it
upon the people. Was not the govern
ment right? II so, then the republican
party is doubly right today in insisting
that the government shall buy its bull
lion and not allow the selfish mine own
ers TO make from 80 to SO cents off
every silver dollar coined This may
be degrading silver, but any other
policy would be depressing, robbing,
and degrading the American people.
In 1858 it cost 81. % per ounce TO pro-
duce silver-hy present processes it is
produced from % to 30 cents per 100
cents, often lower than 25 cents.
lS56-Sources of silver made the sub
ject of general investigation The
worlds annual production found to be
81, 400, 600 ounces. BY 1876 this annual
production had increased to G7,753, 600
ounces; by 1886 TO 93,276,0 900 ounces,
and by 1895 to 16S,0OU, 900 ounces, or
more than five times that of 1856. The
commercial ratio had decryased during
this period from IL to | down TO 81 to |.
| 1S62-Commencement of the period
of paper, or war money, which lasted
until the end of 1878. Deprecated
paper was the only currency
lS65-Formation of Latin Union on
coinage, comprising Greece. Spain,
Portugal, France, Belgium, Switzer-
land, Italy and Roumania on the ratio
of 154 to l.
lS70-The law suppressing the silver
dollar from the coinage was formulated
by the secretary of the treasury and in
troduced into congress. 1t was printed
thirteen times and was the subject of
public discussion until the passage of
the law February -, 1878. This was
the ''crime."
1S7l-Gold standard adopted in Ger
many.
Double standard adopted by Japan.
1973-Formation Of scandinavian
Monetary Union. The gold standard
adopted by Denmark, Sweden and Nor
way: also by Finland and Latin Union
several years later.
Value of divisional coins increased in
the United States and>coinage of dollar
coins, except trade dollars, dropped.
197S-Law providing for purchase
and coinage of from two to four million
dollar worth of silver bullion per
month by the government. Free coin
age, o. coinage on private account,
prohibit ed.
First in ternational monetary confer