People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1896-11-13

MY DEAR Hon. John Wan
amsker is trying to convince the
Chester Co., farmers of the inherent
nobility of the gold standard, and
the Inc flicienoy Of silver, to meet the
requirement 8 of the Government and
the people. He spoke at Kenneth
Square on the Sth inst, and told the
people of the crimes of 1906, 1854
and 1858, when the coinage OF silver
was suspended; and endeavored to
show them the sbsurdity of talking
of the crime OF 1873. Will you
please tell me the cause of the suspen-
sion of the coinage of silver a. the
tim as mentioned? Will you also tell
me if the laboring men and women
of England, or any other gold stand
ard country, are paid in gold, or In
gold certificates, as the remuneration
of their labor?
Also another question: At what
times did the gold standard govern
ments of the world declare for the
gold standard? / am to attend in a
few days, a meeting for Sound
money, as it is called, but which, as
a farmer, consider dear money, and
intend to ask few questions on the
subject. / am much pleased with
The American. 1t is the strong
voice of justice calling in imperlous
tones to the voters of this Repu bic
to cast an honest ballot on Novem
Der 81. I am, Sir, yours in the
cause of the equality of the blessings
of Gsd to Humanity.
CHESTER B. FRIEND.
Leonard, Chester Co., Pa, Oct 10th
In 1906 Jefferson directed thai
the coinage of silver dollars be sus
pended, deeming this step wise, first,
because of the export of these silver
dollars owing to the large use of
worn foreign coin, which was at that
time full legal tender; and second,
because he thought it preferable that
the mints should be- employed in
coming fifty and twenty-five cents
pieces These were full legal tender
at the time, acd two half dollars, or
four quarter dollars, were of the
same weight as the standard dollar
Jefferson, therefore, did not suspend
the free coinage of silver. Indeed,
he had no authority to do 50,
even if he had so wished.
He simply decreed into what denomi
nations the silver deposited at the
mints for coinage should be coined.
His order no more affected the value
of the silver deposited for coinage
than decrse of the Secretary of the
Treasury, at this tlme directing the
coinage of the gold deposited for
coinage into hall eagles and quarter
eagles in place of eagles would affect
the value Of gold. So there was no
crime of 1906.
In 1884 the ratio of gold to silve-,
which had been fixed in 1892 at l to
Is was changed by Act of Congress
to l to 16 O02. That is, the coinage
value of an ounce of gold was made
sixteen times that of silver in place
of fifteen. This was effected by re
ducing the weight of the geld coin,
the new gold coins being made to
weigh about per c.nt. less than the
old. Three years later the standard
of both gold and silver coins was
changed to eco fine; that is, nine
paris pure metal and one part alloy.
Tho silver coin was changed from
892, 404 to 900 fine, and the fneness
of the gold coin, which had been re-
duced by the Act of 1884 from 9l63
fine (the STANDARD fixed in 1922 tc
| 899.225 was also made 900 fne
This effected slight change in the
ratio, !. e., from to 16.002 to 1 t.
Is 988. This has been the ratio eve,
since. Neither the Act of 1884 OF
1887, closed the mints to either gold
or silver, SO there was no crime o.
1884.
In 1853 Congress reduced tn,
weight of the minor silver coins BIZ
10 per cent. and limited their leea
tender power to sums of less thar
$500. The weight was reduced t.
prevent their expectation. But tn,
minis were not closed to the free
coinage of silver. The right of tn,
owner of silver to take it to the mint