Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1896-08-26

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THE committee think that the desid-
eratum In the monetary system is a stand
ard OF uniform value; they cannot ascer-
tain that both metals have ever circu-
lated simultaneously. concurrently and in
discriminatory in any country where there
are banks or money dealers and they en-
terrain the conviction that the nearest ap-
proach to an invariable standard is Its es-
Enlistment In one metal which metal
shall compose exclusively the currency for
| large payments
This law. heartily approved by Andrew
Jackson. would now be called the crime
OF lN@t. In 1852. upon the report OF Senator
hunter when Pierce was president and
when all branches of government were
under democratic control, congress re-
duced the quantity OF silver In the frac-
uonai coins thalf dimes. dimes. quarters
and half dollars) more than 6 per cent .
directed the purchase of silver for ;heir
coinage on government account. abolished
the law for their free coinage and made
them a legal tender for s. only. leaving
gold stu practically the only fun legal
tender United States coin. At this time the
silver dollar had disappeared from the cur
rent coins OF the United States and was
practically and purposely demohetized.
me purpose OF this act IL thus stated by
the chairman of the com mittee having the
DIN IN charge In the house OF representa-
tives:
We propose. 80 far as these coins are
concerned. TO make silver subvcrsive to
do what the best writer's on uolitical econo-
my have approved: what experience where
the experiment has been tried has demon
strated to be the best and what the com
mittee believes to be necessary and proner
to make but one standard of currencv
and TO make all others subservient TO n
We mean TO make gold the standard coin
rms, suppose, would now he called
se SrIihe OF 1908. Silver was practi-
of 1854 '''' VIC az !
1t Is certain that from 1901, when Mr.. Jer
ierson became president. to the close OF
buchahans administration in 1861, the
ueHocrauc party was gold party on
posed TO silver and all forms of paper
money. AS have already stated Mr. lief
ierson in 1906 suspended the COINAGE ne
SILVER dollars. and II remained suspended
Tor more than 20 years. The net of con
gress OF 1884 established gold as prncticaIIy
the only coin in circulation Gold coine
were Benton's mint drops" All demo
Gratis were then "goldbugs" Senator Hunt
er, In 1893, during Pierce's administration,
secured the passage OF a law which re
duced the silver I'm the half dimes dimes
quarters and half dollars. making them
subsidiary coins. abolished their FREQ COW,
aye ana limited their legal tender to Sc
! ne slNcr dollar was not mentioned and
practically was excluded from coinage or
clrculGtion-yct now the democratic mart.
upon the demand Of the populist marry
ana when silver has fallen in market value
10 nearly one-half it's former value. seeks
10 ueinonetizc gold ana to establish silver
as the sole standard Of value
Nhen the republican party came info
power in 1861 by the election of Mr. lin
Iolh IL mad To face a formidable rebel
non. Gold and silver were alike -
lshed from circulation. and irredeap,a6Io
PAPER money Of all denominations from
~ cents 10 $1,000. was substituted a.,
pace or coin. When the war was over tln
T'pGohcan party sought to restore specio
"a = tG,.,
4N' IL pledged the faith OF the nation 70
pay Hient IN coin or its equivalent of all
bonds OF the United States and to redeem
VIC Chlted states notes at the earliest
practicable moment in coin
In order TO carry out this pIedpc II no
'dine necessary to revise the various coin
axe laws OF the United States This NC
promptly and very carefully done by a
~, '%iltd IN the treasury department
"hNe Mr.. BOUTWELL, was secretary. II
was thoroughly considered by the exnert :
81 'hht department ana was printed ard
submitted 10 all persons i'm the I-nited
eIdtes VINO We're supposed TO be familiar
Win the coinage laws. The bill conta in
ing u sections, accompanied by a mass of
information that fills n volume was sent
10 congress April %. 1870 by Secretar.,
l'outWtH ana its passage was strongly
recommended by him. This hill ooitted
from the coins of the United States tba
SILVER dollar. precisely IS was done i'm 1S52
out provided for the coinage of the f~ac-
tohaI parts OF the dollar in accordance
with the act OF that year This hin yvo
peDdInH IN congress for three years-yyas
carefully considered ia both houses .rI
special attention was called to the ornis-
sion OF the H2Ia grains silver dollar which
was never IN the hill at any stage, and th,.
reasons Tor this omission given. II was
finally determined at the urgent reouest
OF members from the Pacific coast to in
sert among the silver coins a trade dollar
So.'aiHlhs ~ grains OF standard silver.
but this dollar was made like the minor
CONS a legal tender for 81 only. There was
hut one yea and nay vote upon the bin and
tnat was on the proposition to repeaI the
charge made 10y the mint for the coinage
OF soid. voted against its repeal The
piI passed both houses and became a Law,
February -, 1873 by practically a tinapi-
nous vote OF both parties and was special-
~ supported and voted for by the senator's
ana members from the silver states
RMS has been called the Crime OF 1872
ana as the bill was under my charge I'm the
senate i was held 10 be the chief criminal
IL was, in fact. wise measure Of public
Pohcy' carefully discussed and considered
during three years
When We test TINS outcry against tbis ac,
with the sober facts shown bv official rec
ords, II appears somewhat ludicrous The
total number Of silver dollars coined from
IGZ 10 1873 was S,03l. 23S while the number
OF trade dollars issued under the coinage
act OF 1879. containing ~ grains more sill
yer than the old dollar. was g. &c.. 1924. and
the number Of standard silver dollars
coined under the Bland Allison act OF 1875
was 45o.7".0u. or - times the number is
sued before 1s13
u Is strange that the very men who sun
ported and urged this COINAGE law Of 1870
aH1 demanded the exclusive coinage Of
E'Id are the very men who now demand
the ire" coinage Of silver and denour..
as 'goiditcs' and robbers all those yyr,,
believe in the coinage OF both gold and
silver
u has been said that the droppina of
fh" silver dollar in tho coinage act OF 1.-g
Dos surisuutiously done. This chare. H.
Shown 10 Doe false hy the debates iu ro--
-r's7. and especially by the declarations
40 the men " h1 now make the charge. Ssv-
teen mon hs after tho passage Of chat act
senator Jones. ol Nevada. boz a debate In
tine senate June .. 1915 said.
'i am opposed 90 any proposition, crr,e
~ Fns ever form 81 may. that attempts 90
'TerriIa what God Himself has mad for
money. believe ta. sooner s.a come 4,y,I.
t' "a purely gold standard the better o.
will DO rl- ff. country"
on April s. i.1t boz said:
'i'n.s tI.- CONGRESS mean now % leave
entirely NH. Hf Wow and discard forever 81
standard ~ .a...r And what but roIG
.sr .. that e'ar..rd2 Wfrt other THING
on earth U.s.s-'. the r.og. sItc qualities
Cold De- tH. articulation Of COM
Drrce. Dr. .e o.. most potent agent OF
civilization ~ r. gold that has lifted the
nations from barbarian.
ut IL the common Denomination n vrIueg
" makes possihi. the classinratlon Of Ia
Dor and Oh" Interchange OF r1umoditI.-
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