The Republican journal., 1896-08-13
A Democrat on the Silver Question,
Why Should this Government lose Al cents on
every 37l IA Grains Of Pure Silver mined In
the World?

Why Should this Government lose Al cents on
every 37l IA Grains Of Pure Silver mined In
the World?
To THE EDITOR OF The JOURNAL:
The man who first introduced the sub
ject of National mint for the United
States was Robert Morris, the financier of
the revolution. Mr.. Morris was instruct
ed by Congress to prepare report on the
foreign coins then in circulation in the
United States; accompanying this report
was plan for American coinage, and it
was mainly through his efforts, with the
help of Thomas Jefferson and Alexander
Hamilton, that mint was established
1t was agreed that silver dollar should
contain 416 grains of silver; fineness
1924; equivalent to 81 IA grains of
pure silver, with 43 "a grains alloy of
pure copper, and that the gold should be
27 grains to the dollar; tineness GIG 2-3;
equivalent to "a "a grains of pure gold.
Hence we got the ratio of Is to 1: fifteen
grains of pure silver being equivalent to
one grain of pure gold. These were the
coinage weights from 1892 until 1884,
when the weight of the gold dollar was
reduced to 25.S grains and changed to
800. 225 fine: In 1887 the fineness of the
gold dollar was again changed to 900, and
the silver dollar was reduced in weight to
412 12 grains and fineness changed to
900. This, however, did not alter the
pure silver in a dollar, but reduced the
pure gold in dollar to 23 22 grains,
which is the law at the present time, and
the ratio is fraction less than 16 to l,
viz; Is, 9sS.
From 1902 until 1873 the silver
producers or owners had the privilege
of taking their products to the mint and
getting in return silver dollar for every
81 IA grains of pure silver; but during
most of this period that amount of pure
silver was worth more than a dollar in
Europe, so naturally they sold their goods
where they could do the best; consequent
ly the Government in 81 years only coined
S,045, S3S standard silver dollars They
did not care whether the government
demonitized silver in 1878 or not, for at
that time they could get $1.02 for every
81 IA grains of pure silver from other Gus
toners. But as soon as the worlds pro-
duction of silver began to increase the
81 IA grains were not worth one dollar;
and then, for the first time, they began to
cry for the privilege that the government
had granted them for 81 years.
The production of silver has gradually
increased in the United States from S12,
900, 600 in 1868 to over SS2, 900, 600 in 1892
and the 81 IA grains of pure silver that
was worth one dollar in 1874 is only
worth SO cents to-day.
The Government bought from 1873 to
1893 over sos, 600, 900 (S50s, 900, OOO)
dollars worth of silver and coined and is
sued about 430, 900, 600 silver dollars. or
5 > times as many in twenty years as were
coined under the free and unlimited coin
age of our much talked of forefathers
for 81 years previous This is what the
government has done for the silver pro-
duoers, and now they make bold stand
and demand that the government Shall
make them present of II cents for every
53 cents worth of silver they can mine;
and the platform adopted at Chicago does
not even limit it to the products of the
United States, but leaves us to be dump
ing ground for the silver mines of the
world.
That the Devil can quote scripture is
suggested by Blyan's citation of Jeffer-
son and jackson, both of whom would
have been as likely to commend mur-
der and arson and burglary as to commend
the Chicago platform.
FROM A DEMOCRACY.