The pioneer express. [volume] (Pembina, Dakota [N.D.]) 1883-1928, 1896-08-28

ana 0oAey ooaloSM and they enterfAln the
eonvtetlen that the nearest approach to
IN one metal. which metal shall compose
exclusively thu currency of large pay
menth. - & 81 5.s 5fG st Il s Ed
This Law. heartily approved BY Andrew
Jackson. would now b called 1.-THE crime
Of 1884," In 1853. upon the report Of gena-
tor Hunter. when Pierce was president,
and when all branches Of government were
under Democratic control. congress reduced
the quantity OF silver In the fractional
coins thalf dimes, dlmes, quarters and half
d0llars) more than 8 per cent, directed the
purchase Of silver for their coinage on
government account, abolished the law OF
free coinage and made them legal tender
for So only, leaving gold still practically
the only legal tender United States coin.
At this time the silver dollar had disAp
Feared from the current coins OF the United
States and was practically and purposeiy
The OF he om
mlttee having tho bill In charge In the
house Of Representatives: I'VE propose. 80
Tar 40 these coins ale corserned. to make
silver aubaervient to the gold colin Of the
country. We intend to do what the best
writer's on political eee 1 omy have approved,
what experience, where the experiment mas
heen tried, has den onstrated to be the
hest. and what the committee believes
| to be necessary and proper-to make but
all others subse-vient to 1t. We mean to
make gold the standard coin"
This. suppose. may be called 'SThe
crime Of 1883" Silver Wis practically de-
monetized by this act and the act OF 1884.
1t Is certain that from 1901. when Mir.
Of Buchanan's administration in 1861, the
Democratic party was q gold party, OPP
posed to silver and all forms Of paper
money. As have already stated. Mr..
Jefferson. in 1908. suspended tho coinage Of
silver dollars, and 1t remained suspended
congress Of 1884 established gold as prac-
ttcaly the only coin in circulation. Gold
coins were Benton's mint drops." All
Democrats were then s'gold bugs"
Evolution of the silver Dollar.
Senator Hunter. in 1885. during Pierce's
law which reduced the silver In the half
dimes. dimes, quarters and half dollars.
making them subsidiary coins. abolished
their free coinage and limited their legal
tender to IS. The silver dollar was not NELL
toned and practically; was excluded from
coinage or circulation. Yet now the Demo-
cratic party upon the demand Of the Popn-
list party and when silver has fallen in
market value to nearly one-half its former
value. seeks to demonetixe gold and to es.
tabltsh silver as the sole standard OF value.
When the Republican party came into power
in 1861 by the election Of Mr.. Lincoln, 1t
had to face a formidable rebellion. Gold and
silver were alike banished from circulation
and trredeemable paper money of all de-
nominations. from 10 cents to $1,000 was
substituted in place Of coin. When the war
was over the Republican party sought to
restore specie payment as soon as practl-
cable. In March. 1850. It pledged the faith
Of the nation to payment in coin or Its
equivalent of all bonds Of the United States
and to redeem the United States notes at
the earliest practicable moment In coin.
In order to carry out these pledges 1t he
came necessary to revise the various coin.
age laws OF the United States. This was
promptly and very carefully done by bill
framed in the treasury department white
oughly considered BY the experts Of that
department and was printed and submitted
to all persons In the United States who
were supposed to be familiar with the coin
age laws. The bill, containing sixty-seven
sections. accompanied by a mass Of informa-
gress April Is, 1870. by Secretary Boutwell,,
and Its passage was strongly recommended
by him. This bill omitted from the coins
OF the United States the silver dollar, pre-
cisely as was done in 1853. but provided for
the coinage Of fractional parts Of dollar
In accordance with the act Of that year.
This bill was pending in congress for three
years. was carefully considered In both
houses and special attention was called to
the omission Of 412h grains Of silver, which
was never In the bill at any stage, and the
reason for this omission was given.
1t was finally determined. ut the urgent
request of@members from the Pacific coast.
to insert among the silver coins trade
dollar containing 42O grains Of standard sill
yer, but this dollar was made like the minor
coins, legal tender for IS only. There
was but one yea and nay vote on the bill,
aud that was on the proposition to repeal
the charge made by the mint for the COIN
age Of gold. voted against Its repeal. The
Dill passed both houses and became a law
Feb. IL, 1873, by practically q unanimous
vote OF both parties, and was specially sup.
ported and voted for by the senator's and
members from the silver states. This has
been called the ''crime Of 1873" and as the
bill was under my charge in the Aenate l
was held to be the chief criminal.
Great Secrecy This!
It was, in fact, a wise measure of public
policy. carefully discussed and considered
during three years. When we test the out
cry against this act with the sober facts
shown by official records 1t appears simply
ludicrous. The total number Of silver dol
lars coined from 1892 to 1873 was 8,O3l 238.
while the number Of trade dollars issued un-
der the coinage act Of 1873. containing TX
grains more silver than the old dollar was
35.965.024. and the number Of standard Sill
yer dollars coined under the Bland-Allis0n
act Of 1878 was 430,I9O,O41. or ffty-four
times the number issued before 1873. 1t is
strange that the very men who supported
and urged the coinage law of 1873 and dc.
manded the exclusive coinage Of gold, are
the very men who now demand the free
coinage Of silver and dcnounce as "Goldites''
and robbers all those who believe In the
coinage of both god and silver.
1t has been said that the dropping Of the
silver dollar In the coinage act Of 1873 was
surreptitiously done. This charge is shown
to be false by the debates In congress. and
especially by the declaration of men who
now make the charge. sixteen months after
the passage of that act Senator Jones Of
Nevada said In debate In the senate, June
II. 1874:
81 am opposed to any proposition. come in
whatever form 1t may. that attempts to
override what God himself has made for
money. ! believe the sooner we come down
to purely gold standard the better 1t will
be for the country"
On April 1, 1874, he said:
"Does this congress mean now to leave en-
tirely out Of view and discard forever a
standard Of value? and what but gold can