The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1896-09-11

nations.
The JsasrsoniaH Order.
He further erred in stating that the
order Of 1866 prohibiting tbs further
coinage Of standard silver dollars was
brought about by a fear Of increased
silver production and a fall in its value,
Silver was being taken from the minis
to export, leaving worn coins and the
dollars to do the business at
home. The Jefersonian order did not
prohibit the owner of silver bullion be
ing accorded free miRtage, but limited
the denominations Of the coins to 80
cents. The order which is now claimed
by gold standard advocates to have de-
monetizsd silver, is as follows:
DEPARTMENT OF STATE,
Nay 6, 1895.
Sir-In consequence of a representation from
the director of the Bank Of the United States
that considerable purchases have IN ade Of dol
lars coined at the mint for the purpose OF ex-
porting them, and as it is probable that further
DuLCudsb5 anu tApULLdLtllS IL 70 LuduDI i--g
president directs that all the silver to be coined
at the minis shall be- Of small denominations, so
that the value Of the largest piece shall not e1-
~ '''',- JAMES MADISON.
To Robert Patterson, Esq, Director of the
Mint.
If that order demonetized silver then
any president could demonetize or re-
monetize either metal under that pre-
cedent. 1t was simply an endeaVoF to
keep our full weight coins at home,
nothing more. It was fruitIess, how
ever, asthe American states we're yet
weak in commerce and the balance Of
trade was invariably against them, and
their production of the precious metals
almost nothing. In 1853 another effort
was made to keep our coins at home,
and this, too, Mr.. Broderick ignorantly
assumes to call a demonetization act.
The amount Of silver in the subsidiary
coin was reduced from 2O61 grains of
standard silver in the half dollar to 1872
grains, and the quarters, dimes, ETC., in
like proportion. This act also provided
for the purchase of bullion by the gov
eminent for the coinage of these coins.
The reason is plain. To have allowed
the free mintage under these condi-
tons would have been to allow the
owner of bullion a clear profit of 2815
grains of silver on every dollars worth
of bullion and would have caused the
Of every bit of coined Ameri-
can silver then in existence. This act,
however, did not affect the standard
silver dollar in any way, and to claim
that it was demonstration or restric-
ton of free coinage in any way is rank
folly. The legal tender qualities Of
these over-valued coins were restricted
to s., but the dollar was a legal tender
for all amounts and the unit of value.
Mr.. Broderick then passed on to the
gold discoveries of California and the
consequent increase Of both metals.
He spoke Of the increased prosperity
and industry brought OF by this in
crease in the money Of the world, and
then put out a sentence that will ap-
peal strongly to the humorous side of
this question, if there can be one. He
said: "The increase in the money of
the country became so great that it
was feared the government could not
control it," In other words, and ac-
cording to his previous admission, the
government feared the people would
become too prosperous.
The Crime of the Ages.
This was the cause, he held, that
brought about the characterization of
silver. AS silver was then at a pre-
MUM of three cents over gold it is
hardly expected that intelligent people
viii believe such trash, especially in
the face Of the fact that it was gold
and not silver that promised to become
the cheaper metal.
Mr.. Broderick denied that any sec
recy was shrouded around the act OF
1873. He spoke of the bill being before
the house and senate for three years
aud openly debated. The bill in which
the decentralization clause WAS AFTER,
WARD INSERTED was, but the bill with
the clause inserted was never read in
either house, and all attempts to have
it read was shut off by the previous
question and the measure passed on
the strength of the assertions of sew.
eral statesmen that it did not affect
anything but the mint laws. Not {
member of the house, and only one Of
the senate John Sherman) has evel
admitted he knew that the bill demone
tized the standard silver dollar anC
President Grant signed the bill with
out knowing it dropped the silver dol
lar from the list of coins. Among thu
members of that congress were Blaine
Garfield, Conkling, Jones, Stewart, etc
Mr.. Broderiok said that that act simpl!
dropped the dollar from the list o
coins. 1t did more. IT CHANGED TIL
UNIT OF VALUE FROM SILVER TO GOLD, ant
from that day to this every effort tina
has been made to restore to silver it