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


was coined. During all this period,
and to some extent afterwards, no I
American gold or silver coins clrculat-
ed, for this reason: The admission oi |
foreign coins into this country was
countenauced, and these being Inferior
ia value 10 American coins became the
only coin currency (The fathers VINO
Insisted Oh such sound money standards
would be known as money sharks
and SHY locks in modern 2opuiistic
| llilerature.
lSl6-Abolition OF the double stand
ara in England, which had been at tue
ratio OF TO 1921.
lo34-Gold ratio increased by adop-
tion OF l6 to ! by President jackson
practically establishing the gold stand
ard. Then the dollar OF the dadGles'
ceased TO exist
lo35-for nearly forty years follow
ing 1885 silver bullion was more profit
able to export than coin. ltwas then
under jackson, that we went to the
single gold standard, whore we have
remained until now. The dropping OF
the silver dollar from the coinage in
1878 was only making legal the prac4
tces which had prevailed from 1884
until that time.
1s47-Dlscovery OF the gold mines in
California.
1S5l-Discoverv Of the gold mines in
Australia.
lS73-Iowering the weight of silver
pieces of less value than 81 TO the eX,
tent of 81 per cent and limitation OF
their legal tender power to So
< Maximum OF gold production in Cali
fornia reaching to S65, 100000.
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 III in
cludes the dollai. with the minor coins.
Why did our government do that IN
1858? To prevent greedy spectators
from buying bullion and coming 1T and
making per cent profit by passing II
upon the people. Was not the govern
ment right? II so, then The re publican
party is doubly right today IN insisting
i that the government shall buy lis bul
! lion and not allow the selfish mine own
ers to make from SO to 80 cents OF
every silver dollar coined. This may
: be degrading silver, but any othel
policy would be depressing, robolng
and degrading the American people.
e In 1853 it cost ST.. 20 per ounce to pro
duce silver-by present processes 1T i
produced from % to 30 cents per lo
q cents, often lower than % cents
!, lS56-Sources of silver made the sub
y iect of general Investigation Th
y worlds annual production found to b
)r 81 400. 600 ounces BY 1876 this aunaa
production had increased TO 67,7o3, 60
ounces: by 1886 TO 93,276,0 900 ounces
10 and by 1895 to l6S, ,0OU, 900 ounces, 0
= more than five times that of 1856. Th
:, commercial ratio had decrYased during
- this period from l6 to down to 81 to
SIS S62-Commencement of the perlo
u of paper, or war money. which Taste
in until the end of 1878. Depreciate
H. paper WAS the only currency.
lS65-Formation of Latin Union o
, coinage, comprising Greece. Spaif
re Portugal France, Belgium, Switzel
ke land, Italy and Roumania on the ratl
d? of 154 to /.
~ ls70-The law suppressing the silVe
dollar from the coinage was formulate
by the secretary of the treasury and II
troduced into congress. 1t was printe
thirteen times and was the subject {
public discussion until the passage
''u the law February 12, 1878. This VIZ
the "crime."
lS7l-Gold standard adopted in &c
many.
Double standard adopted by Japan.
l973-Formation Of Scandinavia
Monetary Union. The gold standal
adopted by Denmark, Sweden and No
way: also by Finland and Latin Unit
several years later.
Value of divisional coins increased
-. the United States and d~coinage OF doll
:, coins, except trade dollars, dropped.
!. lS7S-Law providing for purcha
and coinage of from two to four milli'
- dollars worth of silver bullion p
- month by the government. Free col
"a age. o. coinage on private accour
af. prohibit ed.
nas 80 First in ternational monetary conff
tad ence in Pan is.
oh. In the IS ears prior to 1878 about
~ ooo. 900 silver dollars had been coin
tho under free coinage. From 1878 to Il
,.s s47l. .s97. 1928 were coined under limit
coinage. All the silver dollar a
Mo smaller .coins coined to July l. lo
b amounted to 1896, 464,0 ,0A3.
All the silver dollars lp our curfen
"