Pike County press. (Milford, Pa.) 1895-1925, 1897-04-30
THOMAS JEFFERSON.
THE ORIGINAL DEMONSTRATION or
SILVER WAS EFFECTED BY
JEFFERsoN's ORDER.

He was at All Times Opposed 20 Cheap
Money and Reputation Of Debts Be
iievcd That Coinnge Ratio should Stick
Close 10 the Market Ratio Favored Use
OF Both Metals, but showed n Moderate
Preference For Gold Could Not Have
stood on the Chicago Platform.
Thomas Jefferson was a patriot and a
statesman Of the highest order. 1t is
proper for ull true Democrats to cele-
brate his birthday, April 13, and to
commemorate his many excellent quail
ities, but why should those who voted
in 1896 to rcpudiate debts and to cheap
en- our dollar by attempting to fix an
artificial ratio between gold aud silver
widely different from the market ratio
meet TO honor, or dishOnOr, JeffersOn's
name? Is there anything in his writings
or his conduct to indicate that he would
have been "a cheap money and repudia-
tion Democrat?
In 1888 MIR Jefferson wrote:
The proportion between the value Of gold
and silver Is o. mercantile problem altogether.
tse just principles will lead us to disregard
the market price Of gold in the several coun-
tries with which we shnll principally be con
nected in commerce and 70 take an average
from Thorn.
Does this sound like the silver plank
of tho Chicago platform?
In letter to Mr.. Hamilton in Feb
ruary, 1899, Mr.. Jefferson expressed his
opposition to cheapening the dollar or
reducing the monetary unit He said Of
the dollar:
very much doubt right now to change tho
value, and csuecnlly to lessen it, Il would
lead to so easy n mode of paying of their
debts should it be thought, however,
that congress may reduce the value Of the dol
lar, should be for adopting for our unit, in
stead of the dollar, either one ounce OF pure
silver or one ounce of standard silver so as to
keep the unit Of money n part Of the system
Of measures, weights and coins.
The original decentralization Of sill
ver'' was effected by the following or
der from Thomas Jefferson:
DEPARTMENT or STATE, May 2, 1906
StR-Inconsequence OF n representation from
the directors Of the Bank Of the United States
that considerable purchases have been made
of dollars coined at the mint for the purpose
Of exporting them, and us it is probable fur
ther purchases and expectations will be made,
the president (Thomas Jeiferson) directs that
all silver TO be coined at the mint shall be OF
small denominations, so that the value Of the
largest piece shall not exceed half q dollar.
JAMES MADISON.
RoBERT PATTERSON, Esq,
Director Of the Mint.
Except 1000 pieces, no more silver
dollars were coined till after Andrew
jackson retired from the presidency.
It is clear from Jefferson's 8 writings
that he favored the use of both metals,
but only at their natural ratio in the
worlds markets. Ile seems to have had
an instructive fear that people who wish
ed an "easy mode Of paying off their
debts" would attempt to fix our coin
age system independent Of the world s
markets. His policy at all times was to
stick close to the natural ratio.
His desire to ascertain the market ra-
tio between gold and silver and adopt
that as the legal ratio is shown again
in his supplemental notes, Works, edi-
tion of 1868, volume 1, page 40, written
in 1888 or 1884, when he suggests that
the committee Of the states be instructed:
To appoint also proper persons to inquire
what are the proportions between the values
of fine gold and fine silver at the markets Of
J the several countries with which we are or
may probably be connected in commerce. and
what would be proper proportion here hav-
ing regard 10 the average of their values at
those markets and to other circumstances,
and TO report the same to the committee by
them to be laid before congress.
jefferson framed and had passed by
the Virginia assembly law by which
the value Of the paper money of Amer
lea was settled "in sterling money or
the lawful money Of England. "
If Jefferson had been compelled to
choose between the two metals, he
would undoubtedly have taken gold. In
his Notes" he observed that the high
price which Spain paid for gold had a
tendency to draw away gold and to
leave us only silver. He thought, there
fore, that 1--WE might with safety lean
to proportion somewhat above par for
gold. -
Free silver Democrats are not Jetfer-
son Democrats. They should either
abandon their false doctrines OF worship
at another shrine