The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1896-10-15

was duopCeu anu Cne power 10 COLL
money was left to congress. "The
men that say that gold and silver are
the money of the constitution do not
know what they are talking about" re-
marked Mr.. McCleary at this point.
They found the coinage ratio to be Is
to and tried to coin both gold and
silver on private account, but found
that the ratio did not always remain
the same, as supply and demand had
the effect of changing the ratio. In
1900 the ratio was 1858 to l and the
gold was taken to the markets because
it was worth more there. Then came
cry for gold. Mr.. McCleary then
stated that trade precedes money in a
new country. Where business is,
money goes. In 1880 gold came but
the men that had the gold did not find
it profitable, because the same law
that gave them their gold robbed them
of their silver. Silver, he said, was
the natural money of the pocket book.
In lS49 Congress ordered the coin
age of one dollar gold pieces. The
silver owners would not take silver
because it did not pay. "They were
not SO in love with the dear people as
now," remarked the speaker. The
people then found out that gold was
not adapted for making small money,
or silver large. Ia 1858 a law was
passed for buying silver for coinage,
and the people brought gold and
got silver at par. The coinage of sill
yer on private account was then aband-
oned and coined on government ac-
count. Mr.. McCleary said the money
plank of the Republican platform Of
1896 is the same as in 1858. He then
said that there was man in this State
who claimed that the Republican par
ty had left him and not he the party.
The party is five years older than the
man, remarked Mr.. McCleary. Dur
ing the civil war both gold and silver
were coined for sale.
At this point Mr.. McCleary asked
the audience to join in singing Amer
lea.
Mr.. McCleary then took up the So
called crime of '73. There are two
stories about the crime but they do
not agree on the time when the crime
was committed. He said "that the
silver men claim that the act of '73
contained the old standard silver dol
lar of 412aa grains and it was surrep-
titiously dropped out just before the
passage of the bill. Many a good man
has had his righteous indignation
aroused by being told this tale. And
very frequently it has been told by
men who sincerely believed that such
was the case. The free silver leaders
are responsible for their erroneous i'm
preston. They have, with few hon
orable exceptions, scattered this i'm
preston broadcast, for the purpose of
stirring up the resentment which
would be natural if the story we're
true. But, as we have seen, the story
is not true. The 4125 grain dollar
was never in the bill from first to last
Its omission was carefully pointed out
in the report accompanying the original
bill, and the reasons for the omission
were plainly given. The dollar for
which the trade dollar was finally sub
stituted was a 3S4-grain dollar, of
limited coinage and tender. The
change was made for the benefit of the
silver producers, and at their request.
to enable them to find a market for
their silver in the East" Mr.. McCleary
then said that he would pay $500 to
the person showing him an authentic
copy of the bill contained 4l2aa grains
He said that he had a copy of the or.
iginal bill in his satchel at the hotel
and that he was willing and glad tc
show it to all who wished to see it. Ir
1878 gold was coined on private &C.
count, and no gold dollars have beer
coined since 1890. Opening the mints
to the free coinage of silver always
did and always will contract gold. HI
then took up the statement that silver
would enrich the poor, and also though
it would do the same for the rich. Mr.
McCleary then paid tribute to the
personal character of Mckinley. HI
then proceeded to show that there wa!
l. L osl1,o