New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-16
OPENING GUNS IN OHIO
Continued from First PAGE.

upon p pre and when ali branches of the
Government were under Democratic control Con
rress reduced the quantity of silver In the trac-
ional coins (half-dimes dimes. quarters and half
iollars) more than per cent directed the pur-
p,ent account, abolished the law for their free
~o,nage and made them legal tender for s. only,
tender United States coin. At this time the silver
dollar had disappeared from the current COINS OF
The purpose of this act is thus stated by, the
chairman Of the committee having the Dill IN
charge in the House of Representatives:
We propose, so far as those coins are con- con,
coin OF the country We intend TO do what the
best writer's on pohocal economy have approved;
,risd has demonstrated to be the best and what
The committee believes to be necessary ana proper
10 make hut one standard OF currency and TO
make all others subservient to it. We mean 10
make gold the standard coin"
DEMOCRATIC PARTY ONCE GOLD PARTY.
This. l suppose. would now be called the crime Of
lAS" Silver was practically demonetized by this act
ana the act of 1884
Il is certain that from so, when Mr.. jefferson be-
anne President. TO the close of Buchanan's Admins
tration IN 1851 the Democratic party was a gold
parry opposed TO silver and all forms Of paper money
A. nave already stated Mr.. Jefferson in 1906 sus-
pended the coinage of silver dollars. ana remained
.usoenaed for more than thirty years. The act Of
oneress Of 1884 established gold as practically the
only coin ID circulation. Gold coins were BENTON
mint drops All Democrats were then 'goldbugs"
senator Hunter. in 1858. during Pierce Adminisra-
ion secured the passage OF law which reduced the
'Ionsrs making them subsidiary coins abolished
heir free coinage and limited their legal-tender to 81
Tho silver dollar was not mentioned and prac-
.rallv was excluded from coinage or circulation
vet now the Democratic party. upon the demand Of
The Popuhs. party and when siVer has fallen In mar
ket value 10 nearly one-hslf its former value. seeks
10 demone,.ze gold and establish silver as the sole
standard of va.u..
When the Republican party came into power in 1861
by ne election Of NJ ncon IT mad to 7,,i face
shed from circulation, and irredeemable paper
money Of al denominations. from 10 cents 20 $1,000,
was substituted in pace OF coin. When the way Wds
over the Republican party sought to restore specie
payment as soon as practca,De IN Marcn isoy to, IL
pledged the faith Of the Nation 10 payment IN com
or its equivalent Of all bonds Of the United states
and redeem the United States notes at the earliest
practicable moment in coin
THE LAW OF 1873
in order 10 carry ont this pledge. it became neces-
sary 70 revise the various coinage laws Of the United
States. This promptly and very carefully done
BY bill framed In the Treasury Department, while
Mr.. Boutwell, Secretary. Ii was thoroughly con-
sidered by the experts Of thai Department, and was
printed and submitted to all persons IN the United
States who were supposed to be familiar with me
coinage laws. The bill containing sixty seven sec
lions accompanied by mass OF ,nfoTma'Sn that ms
volume. was sent 10 Congress April 20 lo'V oy sec
reay BSu'%e ana S passage vas Strongly n
the United States the silver dollar precisely as was
done In 1853 but provided for the coinage Of the frac-
OF mat year Ihs bllI was pendihs IN congress loi
three yedrs-was carefully considered In both houses
attention
ths l29 grain silver dollar. which was never in the
bill any stage. and the reasons for this omission
quest of members from the Pacific Coast 10 insert
among the silver coins a trade dollar containing i2O
Ike minor coins a legal-ten1er for 81 only There
but yea and nay vote the bin, and that
the mint for the coinage Of gold. l voted against its
repeal The bill passed both houses and became
Of both parties and specially supported and
voted Tor by the Senators and members from the
This has been called the crime of 1873" and
t BIZ Vas under my GhaTge IN re at vas
wise measure of public policy. carefully discussed
when We test the outcry against this act with
the sober facts shown by official records II appears
arl Coined from 17as to 1873 was 0 2s while
the number of trade dollars issued under the coin
bSn Sf the old dollar Was $5a65 32l and the number
Of standard silver dollars coined under the Bland
times the number issued before 1913
SOME Personal INCONSISTENCIES.
T. IS strange that the very men who supported
and urged this coinage law Of 1873 and demanded
the exclusive coinage of gold are the very men
who demand the free coinage of silver ana
denounce as "goldites" and robbers all those who
believe IN the coinage of both gold and silver 1t
has said that the dropping Of the silver dollar
in the coinage act OF 1873 was surrepttioqsy done
This charge IS shown TO De i&ise 10y , ~ b
men who now make the charge. sixteen months
Nevada. in debate in the Senate, June H. 1874
said:
ever form il may, that attempts 10 override what
God Himself has made for money; believe the
better it viii be Tor the country.
on A A1w 10 l e mt sg out Of View Ss ana
has stsd95a Of Wbs oef Sn on ar
possesses the requisite qualities? Gold j. the
articulation of commerce. II Is the most lo'eh'
naIions from bsrbarsm 1t is the common ienr'-
inator Of values. II makes possible the cliSsihca-
ton of labor and the interchange Of commodi,i-s;
Gold has intervened in bargains made oet"een men
since the dawn of civilization. and II has neyeT
agent and servant of mankind. e.. The value o.
gold is not affected by the stamp OF the Govern
senator Stewart q Nevada in the same ID, deOa ate
producer is entitled to have his product and his
labor measured by the same standard OF ne "1tIu
such standard give him money as you require
from him. You require II from me prooucei, lou
require from the labOrtng man gold TO pay thc m
terest on your National debt which is right. which
cannot be avoided If YOU mean 10 save oeS U,b
BE- settled n3tu YOU determine the simple question
gold dollar II he earns IT, or wnether you TH arc h
uIshot Of the whole thing Everybody has to say
that the laboring man was entitled to a good dol-
lar That was fought over. They Will hsrt II
over again and The same party will win. There
have been great many battles fought asa hs
Compromised Gold has made the world respect it
all the time Tire English people ono" rhought theN
could get along without gold for a while. but they
had 10 come back 20 it,.
SELTlSHNESS STEPS IN.
on June 1. ls74. Senators Jones and Stewart and
all the Represer 'atves and Senators Of the silver
States were urgent and honest in saying that gold
was the best and only standard Of value but they
changed their minds when the largely increased
and increasing production OF silver in Nevada
and other States reduced the market value Of silver
below that Of gold at the established ratio Of 10 10
:. Then they wanted market for their silver
They wanted 10 pay existing debts and obligations
upon 4 gold basis in silver. but took
care IN their contracts 10 stipuae for the payment
Of gold TO them. and this has been and IS now the
general practice in the silver States When the
Coinage law Of 1873 was enacted all Of the states
except those on the Pacific Coast conducted their
he has Of o United