Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-04-14
Thomas jefferson.

which they can assume to be au-
thority for almost any religious bellet.
II NAV or may not have been this
which encouraged the POpocrats 10
seek in the career of Thomas Jefferson
endorsement and precedent for their
ayowed political faith. Seek as they
NAV. twist and pervert history and ira
diton as they are able they cannot
convince the informed mind that the
great leader of men at heart or in prac-
tice. in word or in deed bequeathed
that which might afford basis for even
the shadow of belief that he would
approve of the fundamental purposes
that animated the men who preached
and generated the crusade of 1890
against the credit of the nation and the
perpetuity of it's institutions. The ma
tional Democratic organization has
been doing an excellent work in the
past few days by sending out circulars
the subject of which is Jefferson and
Jackson on Present Problems" This
circular includes TIE famous order OF
Jefferson's secretary of state directing
the coinage of silver only in small de-
should be but 50-cent piece. This
order was issued May l. 1906, and re-
NAMED in force for 80 years and during
Jackson's term but 1000 silver
dollars were coined. Thus did
jefferson practically demonetize the
silver dollar. He always main
tanned the principle that 'the pro-
portion between the values of gold and
silver is mercantile problem alto
gether." This is the very principle which
Mr. Bryan and his followers declared
to be wrong nd did their utmost to force
the government from recognizing in its
treatment of those metals for monetary
purposes.
In letter to Mr.. Hamilton in Febru-
airy. 1892, Mr.. jefferson expressed his
opposition to cheapening the dollar or
reducing the monetary unit. He said
of the dollar:
Il very much doubt right now 10
change the value, and especially to
lessen It. 1t would lead to SO easy
mode of paying off their debts.
Should it be thought, however, that
-, hn l,1c of 40
dollar. should he for adopting for our
unit. instead of the dollar. either one
ounce of pure silver or one ounce of
standard silver. so as to keep the unit
of money part of the system of
measures, weights and coins
What can the men, who demanded
the right Of force to pay their debts in
50-cent dollars, say to that? Is there
inspiration in that to encourage them
to attempt to make the celebration of
Jeffersons birthday anniversary their
own? The men who led off in this
effort are familiar with the history of
Jefferson's career, they are not deceiv-
ing themselves but are trying in the
most bold barefaced manner to deceive
well informed. A short time ago they
attempted the same thing in celebrat-
ing Jackson's birthday. 1t was under
Jackson that his secretary of finance
said:
rum of values of gold and silver may
be adjusted at the mint, the balance is
liable to be disturbed by causes which
can neither be anticipated nor controlled
by political power. If the regulation
be founded on the most exact calcula-
ton of relative values for the time be-
ing, the vibrations of the values of gold
and silver must alternately cause the
expulsion Of each, and where one metal
is more essential to public convenience
than the other, the adjustment which
exposes that under any circumstances
to general expectation or melting may
become a greater evil then regulation
which constantly excludes from circu
lation the less desirable coin.
The proposition that there can be but
one standard in fact is self-evident.
The history of coinage
abounds with mint regulations to keep
gold and silver together, and statutes
prohibiting under severe penalties the
expectation of either. all of which have
disappointed every expectation of their
projectors. The adoption of one metal
as a standard measure of property is
recommended by it's simplicity. No
oh in, t,a int 10 90 n
ever be required, and it removes every
pretext for dishonest or unwiSe govern
ments to debase their coins"
Jackson also appreciated the evils of
Initiation, and though referring to bank
notes at the time his remarks are
equally applicable to other forms of in
fation. He said:
The progress of an expansion, or
rather a depreciation. of the currency,
by excessive bank issues. is always at
tended by a loss to the laboring classes.
This portion of the community have
neither time nor opportunity to watch
the GIBBS and flows of the money mar
ket.
Engaged from day to day in their
useful tolls they do not perceive that